Evening star. [volume] (Washington, D.C.) 1854-1972, 1910-07-17
NEW ORLEANS.

NEW ORLEANS, July 18-Spot cotton
Arm, lie up: middling 1915 Sales on
the spot 26O bales; to arrive, none.
Cotton futures opened steady at ad-
vance of 4 to points on good cables. In
the early trading the old crop months were
yesterdays closing. An improvement in
weather conditions was against the new
crop months, but nevertheless they rose
6 to 8 points over yesterdays last prices
in the first half hour Of trading.
The market was stady throughout the
short week END session. Shorts were free
buyers Of the old crops. and fresh long
buying was in evidence in the new crop
months. Buying of the latter was
stimulated by the weather forecast for
the eastern half of the belt and dry
weather in the western half. Reports that
the crop was deteriorating as the result
Of drought in west and middle west Texas
also had a bu1lish effect on the market.
At the highest, the old crops were II to
the new crops we're points over. The
market closed steady at net advance Of
to o points.
Cotton futures closed steady. Closing
Der, 1885; October, 1874; December. 1884;
January. 1894: March, 1915.
The cotton market closed for the week
II to 10 points higher than last weeks
closing on the old crop months and to
s points higher on the new. On the
terest in the old crop months not allowing
any such excitement and fluctuations as
were seen in the New York market The
high prices were made Saturday as the
result of the rise in the near positions in
New York and also on the cabled reports
from Liverpool that Manchester spnners
had settled for a. five-year term all diff
ferences over wages with their employees.
At the highest, the old crop months were
Is to % points over last weeks closing
and the new were to 6 points over The
low prices were made "Wednesday and
were the result Of rumors (afterward de-
olared fase) regarding Germanys atti-
tude toward Nicaragua. At the lowest
weeks closing and the new crops were
Is to II points under.
The crop news Of the week was ex-
tremely bullish.
rise that came from Wednesday until
Saturday encouraged selling by interior
merchants and planters. against expected
crops. The worst repor.ss came from
Arkansas. Mississippi and Alabama, al
Georgia and the Carolinas sent in un-
Excessive rains that flooded large
areas OF lowland cotton, part of which
will have to be abandoned. In partitions
that the grass and weeds are higher than
the cotton itself. The Mississippi delta
sent In reports Of extremely great dam
age from overflows. Both Arkansas and
Mississippi complained Of the depreda-
lions Of the boil weevil. These reports
created q demand for cotton Of the in
vestment order. but at no time did the
inquiry reach very large proportions.
The bearish news Of the week in re-
gard to the crop came from Texas and
Oklahoma and a few sections of Georgia
In the first two states the crops were
said to be doing well, with the exception
OF some shedding. following showers.
Much cotton was said to be opening in
the early counties Of Texas.
Spots were somewhat more active be-
cause Of buying to fill out shipments to
New York. destined to be rendered against
July contracts. This buying would have
been larger but for the fact that all
freight room on steamers between here
and New York for the remainder of the
time in which July tenders may be made
were exhausted. 1t was cleared on the
week end that New Orleans would lose
about 10000 bales from its stock as the
result Of these exports. Total sales of
spots amounted to 3,546 bales, against
,142 last week and $3.50 this week last
year Sales to arrive amounted to 800
bales, against 10 last week and 800 this
week last year. Prices advanced 3-16,
middling closing at Is 1-16. against 14z
last week and IL 5-16 this week last year.