Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1918-11-24
COTTON SHORTS
GROW NERVOUS
BY VICTOR BARRON.


marked contrast between last weeks
trading and this weeks, business be-
ing entirely orderly and price
movements steadily upward, al
though not sensational.
A strong market Monday with d
net gain of los to 1870 points was
followed the next day by reav-
ton of 80 to rs points, as the result
of natural realizing and lack of con,
tihued ybullish support. However,
from Wednesday on strong, rising
market with considerable less re-
sistance from the bear contingent
was witnessed.
Removal of export restrictions, eff
fective December 2, together with
increased inquiry for the actual
from both domestic and foreign spin
ming interests, strength of southern
spot holders and less talk of can
cellations of war orders, combined
with small ginnings to November IA
and small receipts at interior points,
furnished the chief incentive for the
upward movement.
From the low levels of Tuesday
the New York market moved stead
lily upward with the list F1riday-at
the top-exhibiting a net gain of 1873
On the crest of the movement De-
cember stood at $3.50, January 2874,
March 28.18, May 1882 and July 27.6O.
Final prices on the New York ex-
change Friday showed a net gain
of to points on near months and
loss Of 50 to AZ points On late op-
tons from the closing quotations OF
last Saturday, while the New Or
leans market displayed a gain of So
points for December and unchanged
to 65 points net lower on the bal
. ance Of the list.
The principal feature during the
week was the removal of restric-
N tions on expectation of raw cotton
ITO Great Britain, France, Italy, Bel
GUM and Japan. The order is eff
ective December 2.
New orders against the exporta-
ton of the raw material to Spain
were also withdrawn and went into
effect Friday of this week, and ap-
ri;cati0ns for licenses will be con-
sidered with a view of granting them
freely. Regulations requiring de-
scription of quality and existence of
contracts also were withdrawn and
went into effect November %.
People who have sold cotton short
daily are showing increased fright
and cover freely on all reactions
Mills who have been talking about
heavy cancellations of war orders
are said to be quietly buying con-
tracts in the future markets for the
sole reason they can not buy spot
cotton from the producer and mer-
chants, except in trifiing lots. Spot
holders daily are growing stronger,
being extremely confident of mater
tally higher prices. They have suffi-
oil 1nfn IL
velopments of late have been decid-
eddy bullish-to expect a substan-
tial recoil in spot cotton in the not
distant future.
The ginnings' report issued Thurs
day increased small crop ideas and
confirmed repeated assertion that as
the season progresses the real small
ness of this years crop will be real
ized, regardless of the claim that tho
influenza epidemic, lack of labor ami
Transportation situation is restricting
ginnings
Ginnings to November IA total1d
1861 OO5 bales, against 8,57Ell3
bales to November IA year ago ami
1885 bales to November l, 1918
only 8S7, 800 for the period, or the
smallest on record This compared
with 1,386,000 for the same period
last year and $4,000 two years ago
ard 1,OO3,612 for the period from De-
tcber 10 to November 1, 1918.
n Liverpool. Wall Street and shorts
were the principal buyers throughout
the week. while ring traders, spot
firms and the South supplied the
" hulk of contracts.
Conservative opinion is to the eff
feet that if spot AcIders will con-
tinue to stand pat it will be only
matter of a few weeks, at the most
that shorts, foreigners and domes-
tic mills, will bid keenly for both the
raw material and future contracts.