Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1919-01-15
SPOT COTTON IS
UP, But BEARS
STILL HAMMER
FUTURES DOWN
Good MiddIlng Worth. 27.l,2 Cents
Today, With Futures Oft
Nearly 100 Points.

Despite the continued hammering of
the spectators in the New York
market, which brought the whole flu
lures list down nearly another hun
new low record for the year, local
spot cotton advanced a half cent here
today to 27 IL cents.
Spot cotton in Savannah today is
worth $50 points above the March quo
tation in New York, according to tele-
phone communication l had with that
city this morning." said Charles II.
Burke, of the Commercial Warehouse
this afternoon. THAT means that it
is worth 300 points above the New
York market here. whereas up to to-
day only $50 points have been added
to the March quotation. 1t is all on
account of the heavy demand for good
cotton, and the scarcity of spots on
the market The mills are about out
and are greatly in need of cotton now,
hence the stiffening spot market"
Sentiment seemed to be ripe among
local cotton men for heavy buying in
futures. Now is the time to get in, "
said one, feeling that the bears had
about reached their limit and that the
reaction upward is due. Heavy buy
ing orders are expected to reach the
exchanges by tomorrow morning to
take advantage of the low mark that
was reached today.
Here is what Victor Barron, the AT
lanta cotton market writer, said OF
yesterdays market:
Following an early gain of 10 10
"a points as the result of active buy
ing, based on larger consumption than
expected together with oversold con-
dition of the market and less pressure
to sell the market during the late
forenoon developed a weak undertOne
as the result of a renewed drive
against values by professionals, Wall
Street and liquidation by longs. De
mand was draggy, coming only from a
few scattering sources. The market
caVed in to new lows for the year and
within sight of the seasons low marks
established early in December
BEARS hammered the market IN
Eaercifully during the afternoon, with
the bull crowd standing aside Offering
no support, allowing values to slump
into new low ground. .
Nothing came out in the news to
account for the fresh raid on the
market, except report said Japan
ese were among the sellers. Early in
the day the French commission was
credited with buying May option and
Liverpool interests bought near
months.
1.-THE consumption report was con
strued bullish and the same applied
TO exports IOT IHe HIoHJH VI DSCOAh-
Der. The latter has become decidedly
more favorable since the first of the
wear and this months outgo promises
to be the heaviest for some time.
'sSpot news continues of a bullish
character. a better demand being re-
ported in certain sections, with prac-
tically nothing offering, except at high
premiums.
speaking plain English, there is
only one side to the market if holders
will absolutely refuse to sell cotton
at cnrrent prices. Mills have got to
enter the market in the not distant
future-not to mention the great for
eign reuuirements-and if holders will
cease even selling bale or two now
and then, it will wonderfully strength
en- their cause and hoist values to a
fairer level.
"Just as long as professional trad
ers. ct al, can hammer futures down
and mills hold aloof and holders sell,
# will take mighty long time in
sanding values up-if at all But If
holders will use common sense and