Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1920-11-10

NEW YORK. Nov. 9-The trad
ing in cotton contracts here and ~
Liverpool mas been on smaller scale.
with less violent fluctuations, owing
to the absence of any important new
trading developments, and the indis-
position of the speculative element To
take a decided stand on either side
of the market at the present time.
All the recent advances have attract
ed sufficient southern selling, pre-
sumably against cotton on hand. to
check the advancing tendency of the
market that had set in at times on a
limited amount of new trade or spec
ulative buying. With the British
coal strike settled and the elections
over the attention of cotton dealers
and manufacturers IS again focused
on the domestic and foreign trade
situation. 1t still appears as if the
more hopeful sentiment that exists
In some quarters of the manufactur-
ing and distributing centres is based
more on hope for a 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 disappointing
for this season of the year when
choice selections of all descriptions
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 point where they can
keep working at least without loss.
Exports of the raw material are in
creasing but the shipments are re-
ported TO be almost entirely on old
orders and there is still only limit
ed demand from foreign mills on
account of the chaotic trade con-
ditions. Cotton picking continues in
the eastern section under generally
favorable conditions. The frost re-
ported in the northern section did
practically no damage as the cold
spell was confined to a limited area
of the cotton growing country. Re-
cent reports from many parts of the
Atlantic states indicate a much pet
ter yield than was expected earlier
In the season. In the western seq
lions the weather until lately has
been mostly unfavorable for picking
and all harvesting operations have
been delayed as a result of the rainy
weather and wet soil In Texas and
Oklahoma open cotton was more or
less damaged according to locality
and present prospects are for larg-
er proportion of low grades from the
cotton remaining in the fields. TAX
ing the crop situation as whole all
the indications still favor a full siz-
ed yield in most of the states on ac-
count of the continued mild open fall
weather conditions. The dry goods
market shows scarcely any improve
ment and cancellations of orders f.
textiles generally continue here and
in Great Britain owing to the con
tinued unfavorable prospects for
general trade. In the local cotton
goods market there appears to be
more evidence of desire to do bust
ness in some lines, but the only in
creased buying is of cloths for large
bag manufacturers at low prices. The
yarn market is steady with only a
small business doing at the same low
prices that have recently prevailed.
No further price concessions are ex-
pected at present in yarns as the
quotations 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 the demand for finished goods
would soon be reflected in an increase
in the yarn sales at present low
prices Retailers are buying only for
immediate needs and mostly from
iobbers and wholesale dealers who
still have large stocks on hand,
which are being offered below the
prices named by manufacturers.
The general price adjustment move
ment is still in progress and for the
time being is a severe strain on
industry but it is calculated to have
beneficial results in the end
The general attitude of retailers
in resisting the progress of the de-
flation movement, except in some
special lines, has a marked effect
in checking the distribution of man
ufactured cotton goods and appears
to be one of the fundamental causes
for the recent sharp falling off in
the production of the cotton mills
as we'll as the numerous shut downs
and short time operations. Until re-
tail prices reflect more broadly the