Evening star. [volume] (Washington, D.C.) 1854-1972, 1910-10-16
NEW ORLEANS.

NEW ORLEANS, La, October 15.-Spot
cotton quiet and steady, unchanged; mic
ding. 145s. Sales on the spot, 240 bales;
to arrive, 300.
Cotton futures opened steady, at a de-
cline of 10 to II points in response to
lower cables than expected and some lit
tie weekend selling out by longs. The
weather map was extremely favorable,
as it indicated warm and dry weather
everywhere in the cotton belt, and bulle-
tins from the weather bureau concerning
the tropical storm showed that danger to
the cotton section was no longer TO be
feared This increased selling orders and
prices gave way under the pressure, the
trading months at the end of the first
half-hour Of business standing 10 to is
points under yesterdays close
Around the middle Of the morning large
exports from south Atlantic ports stead
led the market, but selling became heavy
again toward noon in sympathy with an
other storm warning from the weather
bureau stating that the tropical storm
might recurve again over the Florida pc
ninsula.
Cotton futures closed steady. Closing
bid: October. 1857 nominal; November.
14.54: December. 1855: January, 1854;
March, 14.s3; May, 1896; July. 1905.
Weekend review: Cotton futures this
week closed at an advance of 1 to IL
points over last week. The low prices
were made Monday, when the trading
months were 10 to % points under last
weeks final quotations. From these lev
els there was gradual advance OF IA 10
So points, which Friday put the market
81 to As points over last weeks close.
Liquidation by longs and pressure from
bears and others who were trying to force
a reaction caused much of the advance
to be lost Saturday. In the trading or
the week itself the principal feature was
the strenuous effort in evidence almost
all the time to bring about reaction.
This resulted in the lower prices. Through
out the week the market displayed great
resistance to pressure, and new high lev
els for the season were established when
fresh long buying came in. The reaction
talk was popular, not only among bears,
but also among bulls, who believe that a
temporarily lower market must be brought
about before the real advance of the sea-
son can take place.
Around the middle of the week the mar
ket was encouraged by the belief that
the question of guaranteeing cotton bills
of lading was on the eve of settlement
and much disappointment was manifested
toward the week end. when it was learned
that the plan proposed was nothing short
Of a tax on cotton itself. This was i'm
mediately rejected by every cotton ex-
change in the south. The failure to settle
this question had not a little to do with
the lower trend Of the market toward
the close.
The tropical storm caused much nerv-
BUSINESS throughout the week Fri
to pass over the Atlantic ocean, but
during the Saturday session the weather
bureau put out a bulletin stating that
there was possibility that the disturb
ance would recurve over the Florida pen
insula. This revived fears that damage
might be done the cotton districts of the
south Atlantic coast. In other respects
the weather Of the week was very favor
able and Texas sent in reports of an en-
couraging development of it's top crop in
consequence
In the spot market prices advanced %.
middling closing at 145s. against 144 last
week and 13& this week last year. Sales
on the spot amounted to $3.50 bales.
against 2,42O last week and 1926 this
week last year. Sales to arrive totaled
1875 bales, against 1926 last week
and 800 this week last year