Evening star. [volume] (Washington, D.C.) 1854-1972, 1910-09-11
NEW ORLEANS.

NEW ORLEANS. September 1O-Spot
cotton steady, lsc; middling, 1875 up.
Sales on the spot, 155 bales: to arrive.
221
Cotton futures opened steady at a de-
cline Of to points. Cables were some
what better than expected, but the ring
paid little attention to the Liverpool mar
ket. Bears found encouragement in the
continued rains in Texas and also in
the fact that apparently the tropical
storm had spent itself with little damage
to cotton. At the end of the first half
hour of trading the more active months
were four points down.
Weaker shorts commenced to buy covers
on the decline, and this buying increased
toward the middle of the morning with
the result that the decline was recovered
and replaced by q net advance of 3 to
4 points. The market had little strength.
selling during the latter half of the ses-
sion served to put prices down to the
lowest levels of the day again. The
weather forecast predicted fair weather
In the western belt over Sunday, with the
exception of rain for the Louisiana and
Texas coasts. The market closed barely
steady at a net decline of 5 to 9 points.
Cotton futures closed barely steady.
September closed 1890: October, 1892;
December, 1892: January, 1895; March,
l3 10: May, 1881.
Cotton futures this week showed net
loss Of 81 to 30 points. The high prices
were seen around the opening day and
the low prices on the second day of the
week. These low prices were the result
of heavy short selling. based on the large
movement and reports OF rains in Texas.
The Texas rains were in districts which
claim that with rain and a late frost
they can materially increase their yield.
From the lowest to the closing there
was rise of a dollar a bale The tropical
storm which threatened for time to
crn- he AalA
with the recovery.
The market opened after the holidays
with the ring filled with selling orders
from the bear side. Leading bear inter
ests We're aggressive and they were meet
ing with much success in their campaign
for a drop in prices. when the weather
bureau issued warning for storm
south of Porto Rico. This is the season
of the year when storms originating in
tropical waters do much damage to the
cotton country OF the south and bears
at once grew nervous over the warning.
Their nervousness increased when the
storm moved westward and their buying
caused wide recovery in prices-Su the
week closed without any material dam
age from the storm.
The ginners' report from the census
bureau Thursday was construed both
bullishIy and bearishly. On Its face il
was bullish. as IL counted the total
amount of cotton ginned prior to Septem-
4 Ut .so.S-f DdleS, against DSS.-f- al
year ago and 402, 229 two years ago. The
bears, however, were much encouraged
over the showing made by Texas, which
reported 32S625 bales out OF a total
amount ginned. and they sold much cot
ton on IL. For this reasor the figures
had no bullish effect on the market.
Toward the end of the week bears had
less confidence in their position because
Of the unexpected buliishness of the
weekly statistics.
increased. one of the very few times
such showing has been made in Sep
TENDER In the history Of the trade.
In the spot market prices lost seven
Fights of a cent. middling closing to 1895.
against 14H last week and 1915 this week
last year. Sales on the spot amounted
to 669 bales, against 979 a week ago and
2.454 this week last year and the sales
TO arrived totaied 1.6sO bales. against 52S
last week and 3.4OO this week last year.