Arizona republican., 1921-09-23
EXTRA STAPLE COTTON DISPLAYS STRENGTH IN
 NEW ENGLAND MARKETS

Long staple cotton has been dis playing strength in the New England markets, and the general level of extra staple quotations has advanced about 10 cents pound since Sep tember 1. This sums up the weekly review of the extra staple market in the New Bedford Standard last Sun day, indicating growing demand for Pima and other grades.
 According tc the Standard the sky rocketing of prices in the eastern markets has made impossible any considerable volume of dealing, but inquiry from the mills has been very active and tl.ere ara indications of a real desire to buy at "reasonab ble'' figures. Spot stocks are reported practically exhausted. The Standard' s account of the extra staple market fo,scws in part.
 Madness has apparently taken pos session of the extra staple cotton markets during the past week and prices lave scared to heights that no mill man would think of paying except under pressure of extreme necessity. The uncontrolled wave of buliish frenzy that has played havoc in the futures market has run riot to an even greater extent ir extra staples and many instances could be cited where the price of 3 given lot of long stapled cotton has been boosted 10 cents pound dur ing the past week. In fact, the gen eral level of quotations has advanced I just abou. ten cents a pound since 1 the first of September.
 inquiry Active
 Naturally enough, this skyrocket l ing of prices has made impossibl, l 1 I,I .nF although the inquiry from the mill has reen very active and there ar, indications of real desire to buy a l anything like a reasonable figure.
 Carolina, 1t is reported, has beel I buying actively at very full prices a for example, AZ cents for strict am | goed midd1ing quarters. This pric
 was also secured from one New Eng | land mill on a limited lot while 8 and 40 cents for high grade full quar l.ters was heard of in several places. I In certain quarters, where the mill were more or less pinched for cottor
 it was reported that firm bids ha
 been made at 31 cents for strict mid
 ding three sixteenths, at 34 cents fo strict middling quarters and at cents for strict middling five six teenths and at 29 cents for strie middling eights. It was seldom pos sible to buy at such levels, howeve
 particularly on the longer length
 and many mills were not willing |
 buy even at two cents under thes l, figures.
 Spot Stocks Exhausted
 Spot stocks in New England al !. practically exhausted, although fe- good grade lots are still unsold, bl
 these have been withdrawn tempo
 rarily from the market until thing
 become more settled.
 Il New crop, as regards staples,
 held at even higher prices than ol | crop but in general there is little di1
 ference now between old and ne
 crop values.
 7, The squeeze on extra staple Amel
 ican cotton has led to considerab . activity in Egyptians and high grat
 spot Sax has been sold this week r high as 42 cents, while mediu
 grades suitable for tire yarn vol
 are quoted in tome quarters as 10 as S7 to 39 cents. Such cotton f
 shipment from Alexandria is quot, | around 35 cents ex-tariff though u
 egypt quotations have been fluctl
 ating so widely from day to day tn no prices are firm. Quite good de of Egyptian uppers have been so ] this week at levels around 25 to
 E
 are quoted at the close of the we, Z at 26 cents, c. i. f.
 4I Mills Buying Pima B Pima cotton has also been acti
 and there have been a number z sales at levels ranging from 90 to
 cents for No. 2 grade and 35 or mo ,a for No. 1 grade. Cotton at the ,s levels was reported to be rather ha Ia to find-at the close of the week.
 Peruvian mitafifi in some quanti M was obtainable around 30 cents f a medium grades, and not a few of t jS Egyptian houses are asking fully N much as this for medium gra N Egyptian uppers.
 ss Sea Islands have been inactive 1
 the week.
 M Prices on extra staples are giv h this week on basis of quotatio l only. Sales at these levels have be
 few and far between and it is T
 unlikely that any attempt to b 1a considerable quantities at tht z prices would result in pushing i U market still higher, in view of t r present state of mind in the Sout iS Prices are based on white str U middling cotton classed as to sta a: on very high and exacting stands
 of stapling and are as follows: & Inch and an eighth. 29 to s1 cen N Inch and -sixteenths, 32 to = cents
 E Inch and quarter, 3e to 3s cen
 Inch and five-s -sixteenths. 40 to as cents.
 Delta Cotton In Demand
 Further indications of strength
 the staple market are contained il l. letter and clipping received by H. A 4eager from his son, Gilbert Yeas r. cashier of the Peoples Savings Ba az and Trust company of Helena, A q MT. Yeager in commenting on Iss situation, from observation of ! ,% market for Delta cotton, said: .H Anyone must realize the appar ,1 shortage of staple cotton this ye 's1 and that there must be a premium ,sa it. It strikes me that with our | '% ---------- '1s METALS