Evening star. [volume] (Washington, D.C.) 1854-1972, 1910-10-30
NEW ORLEANS.

NEW ORLEANS, La, October 70
Spot cotton, easy, Liz lower; niiddln
ii 3-16. Sales on the spot, 100 bales; to
arrive. 800.
Cotton futures opened steady. 4 to 10
points down as the result OF bear pres
sure. Liverpool was considerably higher
than expected, and the wea ther map In
dictated that the cotton belt was expert
encing one of the coolest SPELLS in It's
history, the time of the year considered.
but manipulative tactics wera reSorted TO
by the bears in order to prevent the ad-
vance that ordinarily would take place
on these features. After the eau tns
at the end of the first half hour Inc
trading months were Z to ~ points uh-
der yesterdays close.
Pressure on the market increased as
the session grew older. A crop estimate
Of 12OOO,OOO bales was issued during the
morning and much capital was made out
Of it by the leading bears. With futures
down around the fOurteen-cent level
many stop loss orders were reached on
the long side of the market, which in
creased the weak feeling. The market
closed steady at a net decline of Fl to
% points.
Futures closed steady. Closing-Octo-
Der, 14.O4: November. 11.O3: December.
1A.04: January, 14.11: March, ABB; May,
14.3o, and July. IA
In the cotton market, this week, flu
lures on the close stood 6 points off to
pO1ntS up, COulDdTeu Will last WSch .
close. Bears worked hard for a full
reaction during the entire week, and
their manipulation offset such strong fac
tors as the bullish report on ginning is
sued Tuesday by the census bureau and
the cold wave that caused great damage
in the cotton belt, beginning Thursday
night. The low prices of the week were
made Monday. when the market was II
to p points under last weeks close. in
anticipation Of a bearish ginners report.
The high prices were made Wednesday,
following an extensive covering move
ment on the part OF shorts. as the result
of the disappointment over the report
At the highest prices were 30 to IS points
over last weeks close and IL to 81 up
from the lowest.
The cold weather was the main feature
of the week, and it will be factor in
the market during the remainder of the
season. From now the weather will
be Of Importance only in regard to its
effect on the gathering of the staple. 1t
is the general opinion that the frost and
freezing weather has killed off all young
bolls, hence there is nothing left to ma
ture.
At the week end the market was not in
receipt of full reports from the country,
but kilograms from here and there indi-
Gated that the cotton belt. as a whole,
had experienced the coolest end of Oc-
tober in its history. That the market
did not advance was entirely due to the
sheer weight Of selling orders from the
bear side. The demand from all sources
was met and the market fairly swamped
with offerings. The bear argument was
that the crop was made before the freez-
Ing weather struck the cotton country
while bulls contend that a large part of
the crop was caught in an immature state
and killed.
In the spot market prices lost "a, mid
ding closing at 1916 against IA 5-16
last week and IA 7-16 this week last year.
Sales on the spot amounted to 8, 100 bales.
against 4,275 last week and 512J this
week last year: sales to arrive amounted
to $3.50 bales. against 5,S2J last week and
1925 this week last year