Evening star. [volume] (Washington, D.C.) 1854-1972, 1909-07-02
MARKET FLOODED WITH ORDERS
COTTON PRICES ADVANCE
SHARPLY IN NEW YORK.
Jump Nearly 40 Points on Receipt
of Government Report-With-
stand Heavy Realizing Sales.

NEW YORK. July o.-Heavy buying
orders flooded the New York cotton mar
ket when the government crop report was
made public today. Prices advanced
sharply about forty points over last
nights closing until the October option
sold at 1900: December. 12.o3. and Janu-
airy at 12.G2. This was equivalent to an
advance of about 50 per bale.
The market was feverish and excited
for some time, with prices varying five
points or more on sale Heavy reahZ-
ing sales followed the advance. but prices
were well sustained
The cotton market opened steady at un-
changed prices to an advance OF points,
and sold about TO 10 points net higher
during the early trading on covering and
continued support based upon expecta-
tons of an unfavoraDle July bureau at
midday. reports of scattering rains IN
eastern and central sections of The belt.
Realizing continued at the advance. and
prices during the middle of the morning
were a point or two off from the best
Futures opened steady. July. 11.o2:
August. 11.5a: September. 1855: Octo-
Der. 11-a3. December. 11.62; January.
1852; March, 1l.61. May. 1i.61.
Quiet Before the News.
The market ruled quiet just before
the government report was issued, with
October selling around 11.60 and jan
uary 1859. Within ten minutes after
the government condition figures were
published. October was selling at 100
and January mt 1909. a straight up jump
of 39a41 points, and the market was
in turmoil OF activity wi n the most
sensational excitement prevailing. Real
iZing was tremendous. but buyers were
encoura ged by the predictions that the
low condition figures would throw the
worlds spinners into a panic, and many
local stats icians figured that the con-
dition of 74.6 did not mean a crop of
over 1900, 900 bales
Estimated receipts at the ports today.
1000 bales, against 1863 last week and
1881 last year. For the week. 10000
bales against 1885, last week and So
o36 last year. Today's receipts New
Orleans. 9S6 bales. against 1,247 last
year. and at Houston, 205 bales against
1878 last year.
New Orleans Bulls Happy.
NEW ORLEANS. July with the
receipt of the government report of TAG
for the condition of the cotton crop June
% the mos. sanguine expectations of the
New Orleans bulls were surpas sed and
advances of -. 30 and n points were
scored by the active months on the New
Orleans exchange.
Liverpool Cotton Prices.
LIVERPOOL, July 2.-Cotton: Closing
Spot, modern business done; prices five
points higher American middling fair,
5.s7; good middlng, 65l: middlng, 6.:33:
low middling, els; good ordinary, $50;
ordinary, 5.54 The sales of the day were
1900 bales. Of which 800 were for specu-
lation and export. and included $500
American. Receipts, 1000 bales no
American.
Futures opened quet and steady and
closed firm. July. Gal; July and August,
6.41; August and September, G.36; Septem-
Der and October. 6.34ia; October and No
vember, 6.31; November and December
6.2S1s; December and January 62S1a :
January and February. 62sk; February
and March. + %: March and April. 60
April and May. $50; May and June, G. 291b .
June and July, 6.29h; July and August
6.2Sla.