The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1910-03-15
WEEKLY COTTON REVIEW
THE WHOLE THE WEEKS
MARKET WAS QUIET MIT;i
TRADE IN WAITING ATTITUDE
Spot lost ONE-SIXTEENTH.

New Orleans, La. March 12.-SDot
cotton steady, u~nchanged: sales on
the spot 555 bales; to arrive $50.
Futures opened quiet, one to
FIVE points lower on poorer ca
bies than expected. Iunmcdi-
ately following the first call.
tive months TODD ] to 2 points over
yesterdays closing. Operations were
limited, the moderate buying was
based on the bullish weekend statis-
tics. On the call October stood six
points down, but in the first half hour
OF trading sold two points over yes
terday's closing.
The market continued to advance
until the more active months were 10
| points up from the bottom and six
to eight points over yesterdays clos
ing. Late cables from Liverpool were
encouraging. They stated that the
! treatment given James a. Patten by
Manchester brokers yesterday was ia
ken in the Liverpool market as con-
elusive proof that Lancashire pin
nerS were very short Of raw cotton.
! The weather forecast for over Sunday
was for continued fair weather in
the western belt and this steadied
the market late in the session in the
face of considerable prOfit-taking by
longs. The closing was steacy at a
net advance Of 3 TIC S points. Cotton
futres this week show a net advance
/ over last of % to % points on the
old crop months and i points on tae
new. The lowest prices were made
on Monday when q decline or II TO
10 points was seer on the old crops
as the result OF considerable liQuida-
ton OF long cotton and aggressive sell
ing by shorts. Leading bulls gave
49,, ,,,rLc% UIIr,nnrf and nri1pS rltpO
very steady during the remainder Of
the week. The highest prices were
reached on Friday when the old crops
We're about so points over last weeks
closing. The old crops showed an eS-
trernc range Of nearly SO points be-
tween the highest and the lowest.
The main bullish feature OF the
week was the manner III which the
statistics continued 70 favor the hull
side. The visible supply decreased
during the week 1862 bales, against
q decrease the same week last year
Of S3,454 bales and a decrease two
years ago OF 81, 019. The decrease
was due TO a continued small move
ment into-sight and nlucn larger spin
nerS' takings than expected. Points
in the interior finished indications Of
exhausted supplies, There Vas cen
tinued talk Of a corner In the old
crop but the leading bulls appeared
to favor a uict market for the time
being and rather openly sold cotton
ON bulges. The one bearisl feature
Of the moment was the rain in Texas.
This, while light, served TO break the
brought temporarily at least.
The bears tried mar to make use
Of the rains to further their campaign,
but the cotton they offered was ca
gerly bought with the result tha'
prices were put To the highest levels
Of the week Immediately following an
no,1ncement OF rain in the West. Oh
the whole. the week was quiet and the
trade assumed a waiting attitude be-
cause OF the uncertainty OF the sl,ua-
ton in both the old and the new
crops. The uncertainty over the old
croD was increased not a little by tht
visit to England of James A. Pa1teii
of Chicago. It was generally DelleEeu
that this visit was in connection WITH
the talked Of May corner IN Ne"
York. In the spot market n1lddl'ils
lost ~one-sixteenth, closing at II il-io
against IA "a last week and 9 I-lh
last wear. Sales on the spot
to 54O5 bales, against 1915 last week
and 1915 this week last year; sales
to arrive totalled 1850 baies. asaliS'
. o1s last week and 5000 last year.
Futures closed steady. C1oslns
bids: March 1863; April 14.I4; May
14.79: July 1897; August 1f-l4' sep
temher 1915; october 1851; Iecenl-
Der 12.42.
New York Money.
No. vo.L March 1s.-Money on