Evening star. [volume] (Washington, D.C.) 1854-1972, 1910-10-02
COTTON MARKETS.
NEW YORK.


| NEW YORK October 1.-The cotton
market was more or less nervous and I'M
setteled today as result Of realizing for
over the weekend and the, government
reports on Monday, and also because OF
the Lancashire lockout, which was
said to affect 10000 operatives. But
after making new high records on the
followed by a firm close, with last prices
showing a net gain Of sail points for
| the day. The market opened steady at
an advance of :,aS points OH better
cables than expected suggesting that the
English trade took very much the same
optimistic view of the Lancashire STU
alton as local bulls who believe it
| cover for spot purchases. Selling was
very heavy on the initial advance, and
Immediately following the call price
eased Oft 4a5 points from the best, but
there was active support from leadihg
bulls, and as soon as recent sellers found
that the market was not responding to
the bearish Lancashire labor news. COW
ering sent prices up to net gam OF
salt points, with January and later
months making new high ground for the
movement.
Realizing then became very heavy ana
prices eased off 8 or 10 points from the
TOP, only to rally again In the late trad
ing on reports that the British govern
ment was bringing great pressure TO
bear in an effort to effect an immaculate
settlement of the Manchester labor
troubles: Buying was probably encouraseo
by private condition report confirming
earlier expectations as to the showing
of the governments condition figures on
Monday According to canvass made
of the trade members of the exchange
expect on the average a condition of u
per cent. This will compare with the
very low condition of 50 per cent last
year and indicate a comparatively slight
deterioration for the month, but bulls
argue that the crop is fully a month late
deductions from the condition figures
will prove misleading and should not be
regarded as discrediting the sensational
ly small estimates of the crop recently
circulating. The census figures on GIN
ming will be issued at the opening Mon
day and the condition figures at midday.
NEW ORLEANS.
NEW ORLEANS, La. October Spot
cotton-Steady, Lis up: middling. ID 916
Sales on the spot, 200 bales; to arrive,
100.
Cotton futures opened steady at an ad-
vance of 4 points on better cables than
expected Buying orders were heavy in
the early trading on private condition
figure of G5.7. Offerings came almost
entirely from longs who were taxing
profits over the weak end and evening
up preparatory to going over Mondays
bureau reports on condition ard ginning.
The demand was great enough to alb
sorb all orders. At the end of the nrst
half hour of trading prices were to
10 points up.
Relizing by longs was heavy around the
middle Of the morning and for While
more cotton was offered than the ring
could take care Of. Prices dropped to
within to points of yesterdays clos
ing. Toward noon good demand for
covers sprung up from shorts. and the
upward tendency was resumed again.
Cable messages from Manchester stated
that the lockout affecting 10000 mill
operatives, had gone into effect. but this
news had no weight on the market, the
dispatches stating that there was every
prospect that the lockout would be of
very short duration.
strongly bullish was the large export
movement, Galveston clearing 91,143 bales
of cotton and Savannah 31,4o5 bales. The
close was steady at a net advance OF
week Closing bids: October. 1882: De-
cember, 1870: January. 1880; March.
1898; May, 14.O9; July. 4.1s.
The cotton market this week opened at
it's lowest levels and closed at Its highest.
The high prices were made SATURDAY.
when the trading months were % to 70
pOints over last weeks close. The close
was at a net advance or d to % points.
The low prices were made MONDAY, Wnen
the market was still to points up. MS
was also the opening range The market
rose very gradually and steadily through
out the week, with never a serious set
back Continual prof1t-taklng was IN
dulged in by the bulls and thus the
market was said to have liquidated Itself
as it advanced. "
At no time did the bears display any aE-
pressiveness Sentiment was more bull
ish than bearish with the trading public.
and the outside public took more interest
in the staple than for a long time past.
The leading bull interests were supposed
to have taken profits on large scale:
sharply. and at no time did the market
show a runaway tendency.
The growing belief In smaller crop esti-
mates and the expectation OF bullish
condition report from the government
were the main bullish influences Of the
out estimates as low as 1O.6OO.OO0 bales,
with the qualification that there might
be an average frost date.
Prices were stimulated by condition
reports from private bureaus. These
65.7 per cent. The main bear
troubles in England and the dispute
over clifton bills of lading. The week
closed without either being settled.
In the spot market prices advanced
three-sixteenths, middling closing at
Is 9-16c. against 1890 last week. and
the spot amounted to 2.527 bales, against
i,113 last week and 4,145 this week
last year: sales to arrive totaled $3.50
bales. against $3.50 last week, and
ISIS this week last year.
COFFEE MARKET.