Evening star. [volume] (Washington, D.C.) 1854-1972, 1910-03-13
NEW ORLEANS.

NEW ORLEANS Fans MarcS i1.-Spot
spot. sos bales; to arrive. $50.
Cotton futures opened quiet, l to 6
points lower on cables than expected.
Immediately following the first call
prices reacted, and on the more active
months stood 1 to 2 points over yes
terdays closing. Operations were linn
tied; the moderate buying was based on
call October stood points down. but
in the first half hour Of trading sold z
points over yesterdays closing. =,
The market continued to advance until
up from the bottom and 8 to s
points over yesterdays closing. Late
cables from Liverpool were encouraging
They stated that the treatment given
James A. Patten by Manchester brokers
yesterday was taken III the Liverpool
market as conclusive proof that Lanca-
shire spinners were very short of raw
cotton. The weather forecast for over
Sunday was for continued fair weather
lin tho western belt. and this steadied
face Of considerable profit taking by
longs. The closing was steady at net
advance of 3 to points.
! Cotton futures this week show net
on the old crop months and II points
on the new. The lowest prices were
made Monday. when decline Of II to
the result of considerable liquidation
By ie shorts eo'0 Leading bails gave the
market support, and prices ruled very
The highest prices were reached Fri
day, when the old crops were about 30
points over last weeks closing. The
nearly So points between the highest
, and the lowest.
The main bullish feature of the week
| was the manner in which the statistics
ta FL br1l a
visible supply decreased during the week
| 1913 662 bales, against q decrease the same
| week last year Of 90. 434 bales and de-
| crease two years ago of s1,O95. This de-
movement into sight and much larger
spinners takings than expected. Points
| In the interior furnished indications of
! exhausted supplies. There was continued
| talk OF corner in the old crop, but the
| leading bulls appeared to favor quiet
| market for the time being, and rather
| openly sod cotton on bulges.
The one bearish feature of moment was
| the rain in Texas. This, while light.
served to break the drought temporarily
at least
!; The bears tried hard to make use OF
| the rains to further their campaign.
but the cotton they offered was eagerly
bought, with the result that prices were
| put to the highest levels of the week i'm
| mediately following announcement of
! rain in the west. On the whole, the
week was quiet, and the trade assumed
| q waiting attitude, because of the I'M
certainty of the situation in both the
| old and the new crops. The uncertainty
over the old crop was increased not a
| little by the visit to England of James
| A. Patten Of Chicago. 1t was generally
believed that this visit was in connec-
ton with the talked-of May corner in
New York.
| In the spot market middling lost one
! sixteenth. closing at 11-16, against
| on the spot amounted to 5,4O5 bales
| against 4975 last week and 1915 this
week last year: sales to arrive totaled
1850 bales. against 3,215 last week anG
5000 last year.
| 1859; April, 14.74; May, 14.79: July.
14.S7; August, 14.14: September, 1915,
October, 1851; December, 1912.