Evening star. [volume] (Washington, D.C.) 1854-1972, 1911-04-09
NEW ORLEANS.

NEW ORLEANS, April S.-The cotton
market this week practically opened at
the lowest and closed at the highest The
net change was an advance Of 26 to 35
points The low prices were made on
Monday and the high prices on Saturday.
At the lowest the trading months were
1 point down to points up compared
with last weeks close. At the highest
they were % to 36 points over that level
From the lowest to the highest there was
a rise Of 81 to &c points.
The chief sustaining factor was the be-
lief in bullish manipulation of the sum-
mer positions. Belief in such manipula-
ton was strengthened 10y the fact that
all the leading southern bull operators
were in New York. The statistics OF the
week were extremely strong and caused
nervous shorts to buy covers. Strange
to say, the new crop deliveries were al
most as steady as the old crop and
showed about the same net ADVANCE, IN
spite Of heavy rains in all sections OF the
cotton belt. This steadjness was traced
to the over-sold condition Of the new crop
months more than TO anything else, al
though toward the week end some cir
cular writer's stated that in their opln-
ion the crop was getting too much mois.
t,ire. The forecast predicting unsettled
and colder weather for the cotton belt
over state was q help to the new crops
in the closing session.
The statistics Of the week were much
more
many room traders looked for favorable
fieures and went long because OF their
expectations. Profit taking by this class
Of traders robbed the market OF the ad-
ures were posted. The into-sight move.
ment was small, the out Of sight large.
and the consequence was that large
decrease - 1884 bales - was brought
last year the visible supply showed a de-
crease OF 1880 bales, while this week
two years ago the decrease was q. 1SG
bales.
Large sales Of spots in Liverpool. large
forwarding to mills from that market and
extremely large exports of cloths and
yarns from the British Isles during the
month of March. as reported by the Brit
ish board of trade, were the main features
Of the cable news OF the week, ana they
helped prices not little.
The main argument Of the bears was
that under the wet weather the SOIL or
the cotton was being put in ideal shape
and that the outlook was for the largest
crop ever grown in the cotton belt. The
oversold condition Of the new crop months
was apparently the main reason why
more fresh short selling was not DONE
coans at
against 14h last week and 14ts this week
last year. Sales on the spot amounted to
2.SO5 bales. against 1855 last week and
3, 100 this week last year. Sales to arrive
amounted to 1.51O bales. against 1886
last week and 3,2s2 this week last year.
NEW ORLEANS. La, April S.-Cotton-
Spot firm; unchanged; middling, 147a;
sales on the spot. $40 bales; to arrive,
none.
Futures opened quiet, at an advance of
points on the old crop deliveries and
unchanged to 2 points upon the new. The
better prices were due to a higher future
market in Liverpool and to sales Of 200
bales of spots there. which was large
trading in actual cotton for Saturday.
under profit taking by longs who did not
care to carry their cotton over Sunday.
The new crops were eteadier. being sus-
tanned by heavy rains in the cotton belt,
which led to the belief that the new crop
was getting too much moisture. At the
end Of the first half hour Of trading the