Evening star. [volume] (Washington, D.C.) 1854-1972, 1910-06-12
NEW ORLEANS.

NEW ORLEANS, June 11-Spot cot
ton quiet; unchanged: middling, 10 cents;
sales on the spot, 135 bales; to arrive,
1856 bales.
The cotton future market opened with
dullness ruling and the trading mostly
of an evening up character for over the
week end. The old crop months were
more neglected than usual and in the
absence of support and on disappointing
cables prices fell 13 to IA points in the
first half hour of trading. The new crops
were also rather weak, in spite of con-
tinued rain in the cotton country. They
fell to points in the early trading.
News from the country was bullish in
from the short side
There was little demand for contracts
in evidence at any time during the short
Saturday session. The urgent short COW
ering that was a feature of the market
earlier in the week was entirely absent
and in it's place were offerings from scalp
ing longs, who did not want to carry
their cotton over the week end. This re-
suited in forcing prices down to a net
decline Of II to p points on the old crops
and IL to IL points on the new by the
middle of the morning. Some rain was
promised in the cotton belt over Sunday,
but traders paid no attention to it. The
close was barely steady. at net decline
of II to u points on the old crops and IL
points on the new.
Cotton futures closed barely steady.
Closing bids: January, 12.2a1229; June,
IA. S2a14S7; July, 15.O2a15O3: August,
ii. 33a1435; September. 1305a13.O7: Octo-
Der, 1237a123S; November, 12.27a1229;;
December, 12.24a12.26
The net results of this trading in the
cotton futures this week are an advance
of 80 to 81 points on the old crop months
and an advance of to points on the
new. The lowest prices were made Mon
day, when bears were encouraged by ia
vorable weather and crop reports. Little
real weakness developed, however, and a
decline Of only & to Z points was made
by the months most affected.
The market early showed that its con-
dition was over sold, and during the first
half Of the week prices were very steady.
The good weather and lack of agrees
iveness by the bulls helped to prevent
runaway market, but during the last
half of the week good crop reports gave
way to bad, and Thursday and Friday
the highest levels of the week were
reached.
At the highest, the old crops were
50 to 6S points over last weeks clos
ing, while the new crops were % to q
points over
The market gradually sagged until
the closing under weekend profit TAX
ing by the scalping element on the
long side. The trade at the week end
was inclined to say that the weather
of the week on the whole was unfavor-
able Too much rain was reported in
many sections of the central and east
ern portions of the cotton country. Ar
kansas, Mississippi and parts Of LOuisi-
ana complained of unseasonably cold
weather and Mississippi and Louisiana
sent in kilograms telling of the finding
of boil weevil in many fields.
In the spot market a very good bust
ness was done early in the week. but
later the market became inactive.
Prices advanced until they were q up,
middling closing at 15c against 145sc
last week and 10Bc this week last
year. Sales on the spot amounted to
s, APO bales against 2,185 last week. and
2,575 this week last year; sales to ar
rive totaled 1856 bales. against 1,005
last week, and 1915 this week last
year.