The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1900-10-14
The STREET FEELS EASY
Also it Looks for Aid From Other
Sources This Week.
COTTON OPENS EASY AND cLo,Es WEAK
The Crop Movement Heavier Than Originally
Estimated. BuIIish Review Of Weeks
Developments South Fac'or the
Bears are Loath to Ignore.
lBy the Associate Press. J

(By the Associate Press.)
New York, Oct 13.-The market closes
the week without material change in the
demand for brown sheetings and drills
in which limited business is doing at firm
prices Bleached in fair request and very
firm. Denims, ticks and other coarse col
ored cottons continue scarce. Print cloths
are firm but business limited. No change
in prints or ginghams. Cotton yarns are
in good demand at full prices for weav-
ing purposes but hosiery yarns are irreg-
ular. Wooden and worsted yarns dull and
easy.
COTTON
New York, Oct 13.-The cotton market
opened easy with prices unchanged to six
points lower, and wcs unusually irregu-
lar all the short session as a result Of
alternate waves of buying and selling of
q weekend settlement nature. The early
decline was bear response to weak Liv-
erpool cables and a heavier crop move
ment than originally estimated. On the
down turn nervous shorts hurriedly
turned for profits, and soon after the
call there was a marked change for the
better in feeling, due mainly to this sup
port. A bullish review of the weeks
ucNeIOplHeHLS OOuIn ny the SHTOHlClS anu
a Government chart showing continued
rains east of the Mississippi valley were
factors which the bears were loath to
overlook, considering that prices were
down nearly seventy-five points from top
and that the long interest had been
greatly reduced Light investment buying
for the account of Wall street parties be-
came something of feature as the ses-
sion progressed. Speculation was not OF
a vigorous character at any time in the
forenoon. The market closed weak, with
prices net four to ten points lower.
Touching the recent decline in cotton,
and it's cause, together with theprospects
for its future, Haven & Stout of New
York, had THIS to say in their weekly
letter of yesterday:
The government crop report which ap
peared on Wednesday gave the cotton
market chill. The general opinion had
been that the condition shown by the
official figures would be no higher than
63 and perhaps as low as CO. Instead of
this the Agricultural Department made
the average 81, or only one point below
that of September LIST. Previous to this,
speculation in cotton had continued to
widen and to develop an increasingly bull
ish tone on the anticipated report and ex-
pectatons of an early frost Prices had
advanced with some rapidity the level
for every active delivery getting above 10
cents When the government figures came
out change promptly occurred. Heavy
liquidation set in, accompanied by re-
newed short selling which carried prices
downward with considerable violence.
Inasmuch as the government figures
did not agree with the tenor of previous
private advices, and as the greater part
of the Improvement it showed was as
cribed to Central Texas, where the dam
age by floods was estimated at fully 40
geo bales. the accuracy of the report was
disputed, although if the figures were
accepted they would, when applied to
the increased acreage, indicate crop
of over 10. coo, 900 bales On Thursday the
market rallied under covering by shorts
to take profits in spite of the lower Liv-
erpool market On Friday, however, 1T
continued to react on lower cables and an
inclination on the part of the trade TO
consider that for the present the gov
crnment report is sustained in its effects
by the continued heavy movement and
port receipts and the absence of any
indications of frost There is certainly
more division of opinion as to the future,
with many believers in a continuance of
the decline for a time at least. On the
other hand, bulIish sentiment is not lack
ing and the weeks developments are re-
garded by many as merely an incident in
the movement of cotton prices to still
higher level
NEW YORK.
NEW YORK. O,t. 13.-Cotton futures opened