Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-09-19
The World Of
Finance and Trade
NEW YORK COTTON
SUBTLE CHANGE In SENTIMENT
SHOWN.

Special Dispatch to The Star
NEW YORK. September 19.-The subtle
change in sentiment that has showed In the
conservatism OF operators yesterday did not
bring about much Of an improvement in
prices until this morning. Yesterday no
progress was made as far as advancing
prices went but this morning the market
opened higher and before noon was 10 or II
points over last night. This Improvement
started with rise in Liverpool after tho
early decline. Instead of being lower
Liverpool was a point higher before the
close. Cable advices were to the effect that
no news from the south has Influenced OPP
orators there. and there was not the pres
sure of last week. The same was true or
conditions here. Some Of the most con-
servative houses. those who have been look
Ing for the decline In prices at this season
OF the year that Is the usual attendant Of q
free crop movement, found reports from The
south OF 50 unsatisfactory tenor that dis
cfetion was considered the part Of wisdom,
and short selling orders were withdrawn
until more could be known Of the import
aEce OF these reports. 1t will be recalled
that the weekly weather reports of August
mentioned the fact that poor fruiting was
generally complained Of. Those who went
south from here came back commanding
upon the absence Of fruit. 1t was thought
SVoo WedtHeT WOuQ remedy this. but Dick
Ing returns now coming in place stress on
the light yields from fields where more cot
ton was expected
While 1t is still too early to know what
the outturn VIII be, the fact that reliable
observers say conditions are about the
same In sections OF the esatern states Is
sufncient to make short sellers cautious
These reports began to come in a week ago
at that time. They do not have their origin
IN New York. This is a significant feature
OF the reports. They come from men of
known reputation In various parts Of the
have agreed on the crop reports and such
advfces as those received by the Chronicle
and Bradstreet have sustained them, many
operators have been led, quite against their
avoid the short side for the time being
This made 1t easy for the market to re-
cover over 1850 for January this morning,
more by reason Of the limited selling than
by force of new buying. There was some
commission house business attracted by the
persistent strength Of the market in the
face Of persistent efforts to force break.
There was no radical change in the sur
roundings OF the market. Cotton was for
sale on the advance to TO- 4Sc for December,
and this sent the price back to 10 47c Many
who bought yesterday sold out On the rise,
waiting for the weekly report at noon. So
many bad crop accounts have been coming
In that a large number of operators were
inclined to wait for the Washington report
today to see what reporters In the employ
of the government had to say on the out
turn. -..
This Is the season when some idea Of the
yield per acre can be obtained. and all re-
ports are therefore of greater importance
than those received at any other season of
the year. During the morning cotton was
gradually absorbed until a few buying or
ders started an advance of s points. There
was more cotton wanted than could be OBJ
tanned at one price, and this impaired a
tone of underlying strength that attracted
some attention.
feature of the morning was the COM
parative weakness of October. This was
attributed to selling by many holders who
anticipated a rise this month and who are
not in position to take up the cotton. Oc-
tober was sold by these interests and Later
months bought.
The weekly report was better than many
expected and prices lost or points. In
stead OF reporting general and severe de-
terioratiop, as many reliable private ad-
vices have shown. the document showed
no radical change. The complaints Of boil
weevil and short top crop in many sections
helped influence some traders. but In the
main the document subtracted from rather
than added to the favorable attitude exist
ing before its receipt. There were more
who were anxious to secure profits and
fewer who were inclined to buy,