The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1920-11-15
4 REVIEW Of THE
COTTON SITUATION

lFrom Henry Clews and Company
The trading in cotton contracts here
and in Liverpool has been on smaller
scale, with less violent fluctuations
ewing 20 the absence of any import
ant new trading developments, and
the indispuSition of the speculative
element 10 take decided stand on
either side Of the market a. the
present time. All the recent advances
have attracted sufficient southern
selling presumably against cotton on
hand. Ia check the advancing ton.
denCy of the market that lad set in
at times on "A limited amount Of n W
trade or speculative. buying. With the
British coal strike settled ana the
elections over the attention Of cot
ton dealers and manufacturers j.
again focused on the domestic and
foreign trade situation. il still appears
as if the more hopeful sentiment that
exists in some quarters OF the manu-
featuring and distributing centers
Is based more on hope for favorable
change, on account of the low prices
that have already been established,
than on any actual increase in the
demand for goods. The buying by
American spinners is still very disap-
pointing for this season Of the year
when choice selections of all descrip-
tons OF cotton can be obtained in the
southern markets; and there are no
indications at present of an increased
demand from consumers for future
requirements. Many mills prefer not
to shut down but will be obliged
to curtail operations and reduce ex-
penses to a po.nt where they can
keep working at least without loss.
Exports of the raw material are
increasing hut the shipments are re-
ported to be almost entirely ON old
orders and there is still only linn
tied demand from foreign mills on ac-
count Of the chaotic trade conditions
Cotton picking continues in the east
ern section of the belt under general
lv favorable weather conditions. The
frost reported in the northern section
did practically no damage as the
cold spell was confined to "A limited
area of the cotton growing country
Recent reports from many parts OF
the Atlantic states indicate a much
better yield than was expected earlier
in the season. In the western sections
the weather until lately has been
mostly unfavorable for picking and all
harvesting operations have been de-
layed as a result OF the rainy wealth
er and wet soil. In Texas and OK
lahoma open cotton was more or less
damaged according to locality and
present prospects are for larger
proportion of low grades from the
cotton remaining in the fields. TAX
ing the crop situation as q whole all
the indications still favor full sized
yield in most Of the states on ac-
count OF the continued mild open 1ali
weather conditions. The dry goods
market shows scarcely any improve
ment and cancellations OF orders Tor
textiles generally continue here ana
in Great Britain owing TO the con-
tinued unfavorable prospects for gem
eral trade. In the local cotton goods
market there appears to be more
evidence of a desire to do business IN
some lines. but the only Increased
buying is of cloths for large bag man
ufacturers at low prices. The yarn
market is steady with only small
business doing at the same low prices
that have recently prevailed. No our
ther price concessions are expected
AT present in yarns as the quota
tions are said TO be around the
cost of production and down TO the
present low basis of the raw material
ANY indication Of an improvement In
he demand for finished goods would
soon be reflected in an increase IN
the warn sales AT present low prices
Retailers are buying only for imme-
diatc needs and mostly from Johpers
and wholesale dealers who sun nave
large stocks on hand, which are
being offered below the prices named
by manufacturers. The general price
readiustment movement is still III
and for the time being is
severe strain on industry, but II is
,alculated TO have beneficial results
in the end.
The general attitude of retailers IN
resisting the progress Of the de-