Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-10-21
The World of
Finance and Trade
NEW YORK COTTON
GOOD DEAL OF REALIZING AND
LARGE OFFERINGS TODAY.

Special Dispatch to The Star.
NEW YORK. October 21-with q wealth
er map showing warmer temperature than
predicted yesterday, and no official report of
frost at the opening, the cotton market
opened lower today. There was naturally
good deal of realization after the sharp
advance OF yesterday and offerings were
quite large at the outset. Fear of frost was
in the air. however. and the market showed
no disposition to weaken to any consider
able degree. and In fact 1t soon began to I'm
prove under renewed activity of the local
bulls and good deal of outside buying
from all ports.
1t was reported by several houses shortly
after the opening that killing frosts had
done damage In north Texas and that out
SIDE OF the territories there had been quite
little damage in the lowlands The wealth
er was the feature of the whole trading, and
IL continued to produce nervous and ex-
cited market, although not to the extent Of
yesterday.
1t is not expected even by many bears that
the weather conditions will permit of any
marked reaction from the big advance of
the last three days until II is more definite
~ ascertafned how much damage has been
done by the recent cold wave.
Inc market opened from to 8 points
gown. January opened 0 points down at
Io.2le., eased to 10.1Sc rallied to 1O24c. and
decilned TO 1O1Ic. These fluctuations reflect
Wen on the confused sentiment existing in
l sne marke. this morning as to weather con-
oit1ons The weather map showed killing
frosts in Missouri and Kentucky but none
SO near the belt yesterday
temperatures ranged from 80 degrees at
orForIIo 10 90 degrees at Galveston. The
map was free of rains. The early pretiic-
lions were for warmer weather throughout
the belt.
A good deal of spot cotton has come out
IN thet south as the result of the recent
strength In the future market, it Is re-
ported.
me chronicle says today of the weather:
Advlces to us by telegraph from the
south denote that the temperature has been
rather low at some points during the week
but no damaging froSts are reported by our
correspondents. except in north Texas and
the territories. On the whole where rain
has fallen the precipitation has been mod
crate, put In portions of Texas and in few
districts elsewhere wet weather has inter-
fered somewhat with the gathering of the
crop.
From Mobile and Augusta we are adj
vised that picking is nearing completion in
those vicinities and Selma reports the crop
all picked on uplands."
The Dry Goods Trade.
The Chronicle says of the dry goods
trade:
The tone of the cotton goods market has
been decidedly quieter during the past
week, and buying has been on a less ex-
tensive scale than for some time past.
There is considerable diversity of opinion
among buyers, however, and while some
have shown their willingness to continue
operating ahead, others have entirely
ceased future buying and are confining
their purchases to spot goods. This is
partly attributed to the tightness of the
money market at the present time and also
to the unreasonable weather, but 1t is more
directly due to feeling on the part of
buyers that the cotton market Is going
lower and by waiting they will be able to
purchase more cheaply later on.
'In spite of this and of the quieter condi-
lions that have prevailed, sellers have not
position. and insist that on the basis of
supply and demand alone the piece goods
market cannot go any lower. They dwell
particularly on the sOld-ahead condition Of
the mills and on the fact that 1t was never
so difficult to obtain nearby deliveries of
goods as it is at the present time The
export situation has changed but slightly
during the week.
Bradstreet's says: Farmers are refusing
TO sell cotton at present prices. and the
movement Is slowing down at nearly all
points. Reports as TO the Texas crop were
rather better than earlier, but impending
frost damage was a bar to confident esti-
mates. Exports are larger and supplies less
pressing.
The market for cotton goods Is rather
irregular. More conservatism in buying Is
noted at New York, which is yariously at
tributed to Scent decline in raw cotton
and to the possibility of getting deliveries
at auy reasonable date