Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1922-01-31
VHYCOTTONIS
ONMNN GRADE
Henry CIews Report Lays It To
Unfavorable Foreign News
And Dizziness At Hosne


NEW YORK, Jan, 31.-Henry
cIews g. Co. have issued the follow
;ng weekly report on the cotton mar
ket situation:
/ THE continued unfavorable char
. octer of the foreign news develop
ments and general dizziness in tex
tile trades have been the immediate
canses for the further decline in the
ouotations of spots and future con-
tracts. Liverpool and Manchester
markets have been unfayorably af-
fectq by unsettled local conditions
and pessimistic trade reports from
] Fovpt. India and the Far East. This
situation has naturally been attend
cd with steady liquidation of specu-
,ative holdings of both finished goods
and raw material. The increased
ceiling pressure of the nearby con-
tracts that has been in evidence dur
ing the week appears to have been
dine to renewal of Southern hedge
selling against the actual. Spinners
have been holding off again in pur-
chasing for future requirements and
are pursuing hand-to-mouth buying
policy on account of the declining
tendency of prices since the begin
ming of the new year. American
SINNERS are now running mostly on
reserve supplies of raw material Sc
cured earlier in the season, and with
the exception of some local curtail-
ment of production, due to labor dis
turbances in New England, there are
no indications Of material decrease
in domestic cotton consumption.
The gloomy British trade reports
received here and apprehension of
increased competition with foreign
countries for low grade goods, how
ever, are rather diseouraging and
responsible for considerable concern
regarding the maintenance of the
present scale of consumption in
Europe.
The census bureau gives the to-
tai ginned to January Is as 1913,
97l bales, against 12,9l4,742 bales
last year and 10,3D7, TAO in 1920. The
small amount ginned during the PEE
Rod about $4,000 bales, compares
with 100000 bales last year and
$4,000 for the fve-year average
during the same period. This unds-
ually small amount indicates that the
crop is nearly all in and that the
governments bureau has materially
oyer-estimated the seasons yield of
lint cotton. The bulEish features of
the situation, for the long run and the
\ growing strength of the statistical
position appear to have no influence
on the market at present owing to
small volume. OF actual spot business
in the South and the lack of new
speculative' support: The unsettled
conditions in the foreign and don1es-
! tic cotton markets have in turn had a
N depressing effect on the dry goods
4 markets. Price reyisions for leading
n lines of prints are being made to slim
d ulate export business of cotton
n goods and with some large sales re-
ported at the reduced quotations of
N 3-4c to 1c yard These lower prices
appear to have been necessary to
meet increasing competition of Eu-
4 ropean manufacturers for South
n American, African and the Eastern
& goods trade. The attention of the
II trade appears to be focused at pres
s. ent on the cotton goods markets here
and in Europe, the attitude of hold
erS OF unhedged spots nthe South
and last, but not least in Importance,
the preparations and start for the
ID new crop. The increased purchases
8 Of cottonseed as reported by the agri-
cultural department do not necessa-
II fliy mean a corresponding increase
in acreage.
The recent depreciation in cotton
values and the consequent reluctance
ol merchants and bankers in the
Il south toa advance supplies necessary
lof increased cotton production this
q season should have some effect in