Evening star. [volume] (Washington, D.C.) 1854-1972, 1910-06-26
COTTON MARKETS.
NEW YORK.

NEW YORK, June 25.-The cotton mar
ket was very quiet today, there being
nothing apparently in the news to induce
fresh operations Of any consequence for
over the week end, while the scattering
interest had probably evened up pretty
closely earlier in the week. The close
was quiet and steady, net 1a5 points
lower. The market opened steady at an
advance of points on July. but generally
unchanged to points in sympathy with
lower cables and the rather more favor
able weather map. The showers reported
In Texas were characterized by private
adV1ces as too light and scattering, how
ever. to materially modify the drought sit
uation. and with private condition reports
indica ting deterioration during the past
month in the CarOlinas there was COM
paratively little cotton for sale. A small
demand was all that was required. conse-
rquently. and after July had eased off in
keeping with the rest of the list the mar
ket showed little further movement or
feature.
Private cables indicate that Liverpool
had been influenced by reports Of rain in
Texas. and these reports seemed to Offset
thebul fish showing of the weekend
figures in the absence of any urgent
trade demand, as futures were a little
under expectation and the English spot
sales were small. There was nothing to
Indicate that the passing Of the Scott
bill by the House of Representatives yes
terday was to have any influence on
either the volume of business or the
course of prices. People In the local
trade have expected the passage Of the
bill in the House, but are evidently con-
fdent that it will not pass the Senate,
and the dull trade of today was at
tributed to the usually restrictive infiu-
ence or the weekend adjournment at
season when weather conditions are Of
prime Importance. Moreover next week
m fot ntfoc
is the first July notice day, the July
bureau is due Friday, and all markets
will be closed from Friday until the fol-
lowing Tuesday morning.
NEW ORLEANS.
NEW ORLEANS, June 2j.-Cotton-
Spot unchanged; middling, 14B.
Cotton futures opened quiet at an ad-
vance or 1 to points on the old crop
months and decline Of 1 to 3 points on
the new crops. Gables We're not as good
as expected. but the bulls offered support
to the old crop months. with the result
that July sold at an advance of points
In the early trading The new crops were
not as strong and sold at a net decline
OF l to points. The weather map was
favorable for the central and western
portions of the belt, but continued rains
In the eastern belt caused some nervous
ness among shorts, who were disposed to
cover their lines over the week end.
During the larger part of the morning
the range of prices was over only to
points. July was the only month that
really moved, and its extreme range
was points. 1t sold down to 14.76 as
Later in the session was some pressure
to sell August, which fell points from
the highest. The market closed steady
at net advance of 3 points on July
and net decline of points on the
other active months.
Cotton futures closed steady. Closing
bids:
June. 14.7o: July, 14.7s; August. 1424;
September, 1892; October. 1898; Deem
Der, 12.24; January, 12.36.
Cotton futures made little net change
today ip prices. July standing on the close
points lower than last weeks close,
while the other active months were to
Z points up compared with last week 1t
was week of hesitation; neither bulls
nor bears cared to increase their commit
ments. Both sides watched the July deal
closely, but they were none the wiser con-
corning its outcome when the market
closed for the week.
Statistics were very strong this week
and the visible supply actually became
10000 bales smaller than 1t was on the
first day of last September. This meant
of cotton than had come into sight and
that the mills of the world were eating
into the surplus carried over from last
season The into sight movements were
very large. spinners surprising the cot
ton world by taking 10000 bales Of Amer
lean cotton, against 10000 this week last
year and $4,000 this week two years ago.
The chief interest Of the week from the
bears standpoint was the receipt Thurs
day at Houston of the first two bales OF
this seasons crop. Thursday was the
twenty-third day of the month. yet last
year the first bale came into sight on the
9th of June. and the year before 1t came
into sight the 10th. Crop news hardly
favored either side very strongly, for
while good accounts came from local
cities scattered all over the cotton coun-
try, the western cotton belt complained
of high temperatures and the lack of
rain; the eastern belt reported too much
rain, and the central portions that the
boil weevil did much damage 1t was
claimed by conservative leaders that
progress In some regions was just about
unbalanced by the crop in other portions.
a feature of interest was the announce
ment that the boil weevu had entered
Tennessee and was threatening the crop
with great damage.
The high prices of the week were made
Thursday. From the highest to the low
est there vas a range of fifteen to thirty
points.
Fluctuations were less important than
I'm any preceding week of this season.
Spots remained unchanged throughout
the week, the middling closed at 14A
against 147s last week and II cents this
week last year. Sales on the spot amount
ed to lao bales this week. 1850 last
totaled $50 bales against TO last week
and 1850 this week last year.