Evening star. [volume] (Washington, D.C.) 1854-1972, 1910-08-28
NEW ORLEANS.

NEW ORLEANS. August 21.-Spot cot
ton unchanged: middling, -; sales on the
spot. none: to arrive. 81.
Cotton futures opened steady I'M
changed to points up on good cables.
The storm warning issued for the
Texas coast seemed to encourage the
bears, who predicted that the storm would
bring rain with IL, and this belief was
encouraged by the official forcasters. who
said that the probabilities were for
showers in east Texas over Sunday. The
official announcement from the weather
bureau that the tropical storm which has
been lowering about in the Caribbean sea
had passed out into the Atlantic ocean,
thereby doing away with the chances of
II sweeping the cotton belt. gave the
bears more courage and they sold more
freely around the middle of the morning.
with the result that prices were put six
to seven points under yesterdays last
quotations on the more active months.
This decline, however, was the opportun-
ity many shorts were looking for TO
cover over Sunday on and their pur-
chases gave the market a steady tone.
Futures closed steady.
August. 1915 asked: September, 1919:
October, 1884: December, 1881; January,
1896: March. 13.47 May. 1851
The net results of the trading in the
cotton market this week was an advance
of AZ points on August and a decline Of
8 to IL points on the new crop months.
through and the extreme range of prices
on the trading months was over only 30
to % points. The high and low on most
months were made in the first two days
Of business.
Bearish sentiment was stronger this
week than in almost any previous week
OF this season. This was due to the
great amount of new cotton being mar
keted. to crop Improvement in the GEN.
trail and eastern portions OF the cotton
hnr nd 20 tHD In L. 20
mills for spot cotton. The market opened
In rather an oversold condition and be-
came noticeably oversold later In the
week. This undoubtedly checked declines
that were started several times. Bulls
at no time were aggressive, but seemed
to be waiting for more knowledge as to
the attitude of the bull clique toward the
September option before taking hold in
earnest.
Bears received much encouragement
practically all but the northern portion
OF the cotton belt. Arkansas and Tonnes
see both reported their first bales from
the new crop during the week. and a
moderately large number of new bales
came to light in Louisiana, Mississippi,
Alabama and Georgia. In Texas the
movement was nothing short of colossal.
The weather of the week was compare
lively favorable. Texas got some rain
and other portions of the belt made no
weather forecast promised showers in
east Texas over Sunday. which the bears
regard as a very favorable feature. The
tropical storm which has appeared in
the Caribbean sea, and has caused more
or less nervousness among shorts during
the week, was reported i'm the Atlantic
ocean, off the Carolina coast. on the week
end. where IL no longer was menace
10 the cotton country.
Picking was carried on In the early Sec
tons throughout the week without any
weather Interruptions.
In the spot department prices advanced
&c middling closing at II cents against
1iAc last week and f2ssc for the CORE
spending week last year. Sales on the
spot amounted to 153 bales. against ST.
last week and 16J this week last year
Sales to arrive amounted TO 4o6 bales,
against los last week and lO7 for the cor
responding week last year