Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1919-02-16
CENSUS BUREAU
COTTON REPORT
SHOCKS BEARS
By Victor Barron

Recorder)
ATLANTA, Feb. 15.-For the first
time in weeks bulls won a victory in
the cotton market this week. Senti-
ment ruled in their favor as well as
developments, the bear crowd having
nothing new to start racket with, al
though they fought desperately, but
in vain.
Final prices Friday on the New
York exchange showed futures IS to
100 points above the closing quotations
of last Saturday, while values at New
Orleans exhibited a net gain of 81 to
100 points-$255 to So bale.
The strength of March New Or
leans was the effect of hedge covering
demand in connection with spot bust
ness and by grade revisions.
From the bottom level of Monday
2130-March in New Orleans rose to
1886 on Friday, but finished Sc points
below that price.
At the high levels March option IN
New York stood at 2268, May 21S5,
July 21.26, October 1890 and Deem
Der 1855. These prices compared with
Mondays lows, as follows: march,
20.8O, May 1880, July 1890, October
1910, December 1880.
The most potent factor causing the
fresh demand and checking the on
slaught on the part of the bear
crowd was the heavy reduction in low
grades and continued increase in
higher grades, thus making it hard for
those short of futures to secure suit
able grades for delivery on future
contracts. On the other hand this big
decrease on low grades looks bad in
the eyes of shorts In addition to this
further heavy rains over the belt
created considerable uneasiness among
shorts, especially when they realized
the backwardness already of new crop
preparations and the fact that rains
now would further retard new crop
developments.
Heavy exports and continued steadi-
ness of spots and the stronger hold
ing movement, together with the grow
ing agitation to greatly curtail this
years acreage. also favored those
friendly to the constructive side of
the market and invited considerable
buying for trade account on this side
as well as for foreign houses. Italy,
France, Spain and Great Britain were
credited with buying quite big lot
of both futures and the actual.
The bears were greatly surprised
Friday when the census bureau issued
its January supply and distribution re-
report showed that domestic mills
consumed $50, 721 running bales during
the month of January, against 523,947
bales in January last year, and 572,-
947 bales in December last. This was
construed as extremely bullish, in
view of the pessimistic news from mills
during the last few weeks The re-
port also showed that there were 307,-
600 more active spindles in January
than last year, the total being SO $685.
Az in January last, against 1885,
1888 a year ago.
January consumption brought the
total amount used since August /,
1918, up to 2,953,564 bales, against
S,307,558, the previous corresponding
period
Another bullish part of the report
was the fact that exports in January
were the greatest since December,
1916. totaling 65S,143 bales, against
462, 562 bales in January a year ago
and 5SS.487 bales in December last.
This brought exports so far for the
season up to 2,6O4,4S bales, against
2,813,4 33 bales the same period last
year. With the total amount shipped
so far this month, exports probably
have passed, or almost equaled, those
of the previous corresponding period.
The February consumption report