New York, Feb. 23.
The Administration's approval lof the principles of the Bankhead Bill early in the past week failed to have a stimulating effect buying due to the enormous amount of realising in the market, and the resultant. reactionary tendency Twas encouraged by reports that a little more cotton was coming out-fin the South, together with indications that demand from trade was less urgent. Further, the delay of the "House of Representatives [Agricultural Committee in reportting. on the Bendhead Bill seemed increase the uncertainty regarding the final provisions. However, is generally pected to result in the passage of ome form of compulsory control.
Te is Telieved that some ten leent_ Toan cotton came out in the South on the advance in. futures ings, rr, were well absorbed shove the 12 cents level; the offer-
Prrcade fuying off Jed on the stale down, and this imade baying of futures per
proved the technical' position of the market which turned. steadier prior to the holiday on. Thursday. Meanwhile, crop preparations have advanced further that is. usual. Reuter. the Stock Exchange and on a fore-cant of further moltane
Text read from the printed page and cleaned; old type leaves the occasional error.