Evening star. [volume] (Washington, D.C.) 1854-1972, 1911-04-23

given lHdt transactions on tnat side
give the best promise of profit.
Wall street is just now making a
specially Of crop news and advices re-
ceived from the farming districts of
the south and west continue to be most
encoura ging.
COTTON MARKETS.
NEW YORK. April oo-The upward
movement continued in the cotton market
today as a result of very firm cables re-
ports of an improved spot demand and
bull1sh statistics, with the old crop as
represented by July contracts selling
above IL cents for the first time since
last January. The close was very steady
at net advance of 5a9 points, or within
point of the best on old crop positions.
The new crop was relatively quiet and
easy, owing to the favorable weather
map The market opened steady at I'M
changed prices to an advance of points
In sympathy with the cables. There was
considerable realizing for over the week
| end. but bulls gave support when the
| market hesitated, the New Orleans wires
showed a very firm market there and the
local short interest soon began to cover
more actively. Realizing increased on
the advance to 10 cents for July and it
looked as though some of the big bulls
were taking profits III a moderate way.
but on every little recession they gave
before the close and the last bid for that
| position was at 10 cents. Active old crop
| positions at the close of business today
| showed all advance of about 12J to TT
points from the low level of February IL.
the bulk of this gain having occurred dur
| ing the past three weeks result Of
| the sharp falling off in receipts and the
rapid decrease III the worlds visible sup
ply. There appears to have been some
improvement in spot demand. yesterdays
reports indicating large sales at several
of the leading southern markets. where
stocks are smaller than at this time last
year. and the old crop short interest
showed even signs of increasing nervous
ness during today's trading.
May. 1896 to 14.S9: June, 14?7 to 1895;
July. 1901 to 1875; August, 14.71 to 1852;
September. 1915 to 1910; October, 1895
to 1889: December. 1887 to 1880; Janu-
airy. 1882 to 1277 March. 1894 to 1921.
NEW ORLEANS.
NEW ORLEANS, April 22.-spot cot
ton firm. Lie up: middling. 147s. Sales
on the spot $50 bales; to arrive, 500
Futures opened steady, l point up on
the old crop months. and unchanged to 2
points down on the new. Gables were
favorable, but their effect on the new
crops was cOunteracted by an extremely
good weather map, the entire cotton belt
showing up dry warm and clear, just
the weather desired for finishing planting
the crop and causing seed to terminate.
After the call the market was very
steady. There was heavy bidding for the
old crops by leading bulls. At the end
of the first half hour of trading the old
crop months were to points over
yesterdays close. and the new crops
were unchanged to l point compared
with that level.
The market had a firm undertone
throughout the morning. Toward the
middle of the session July was put to IL
cents. and then to 1907. May touched
10 cents, and then went to 1902. These
were the highest prices in several
months, and We're caused by the bullish
weekend statistics, private messages
from Liverpool reporting continued
large business among mills. reports of
an Improvement in the spot demand i'll
the interior of the cotton belt. and tele-
grams from New York stating that all
cotton rendered on May contracts this
coming week would be cared for by the
bulls The new crop months We're held
down by the weather forecast which
called for fair weather over Sunday. At
the highest of the morning the old crops
were IA to l6 points over yesterday 5
close, and the new crops from 4 to )
points over The close was very steady
at net advance of to 10 points.
Closing bids: April, 14.91: May 1902:
July, 1906; August, 1452; October, 80:
December, 12So.
Weekly cotton review: Prices scared on
the week end in the cotton market. The
lucent level was reached and passed
on the old crop deliveries in the future
department, and there was more excite
ment and trading around the ring than
for many weeks past. There were many
rumors in the air Chief among them was
the story that the bulls had prepared to take
up all cotton the bears VIII tender on
the first notice days for May, which will
come toward the close of next week.
This referred especially to the New
York market.
The net results in the future market
4 a
points on the old crop months. and an
advance Of ) to points on the new.
The high prices of the week were made
right on the week end, as the result of
extremely bullish cables and strong week
end statistics. The low prices were re-
ported Wednesday. At the highest the
old crops were 2S to 81 points over last
weeks close. and the new crops We're
5 to I points over: at the lowest the
list was toS points under last week s
close From the lowest to the highest
there was a range of Is to 80 points.
The reason for the small advance on
the new crops was that they were held
down by favorable turn in weather
conditions. Too much rain was re-
ported in the cotton belt early in the
week. but on the week end the map
reflected clear. dry and fairly warm
weather over the cotton country. and
the forecast called for fair weather
over Sunday.
Liverpool was the backbone of the
on. Cable messages telling of big
business in cloths in Manchester and
reporting strong spot demand in
Liverpool caused much short covering
and stimulated fresh buying for long
account The outside public took con-
siderable interest in the market, and
at times bought freely of the old crops.
The statistics of the week attracted
much attention.
The into-sight was very small, the
out sight was large and the visible
supply consequently showed a large
decrease for the week, the shrinkage
amounting to 1871 bales, against a
decrease this week last year of 56,776
pales and a decrease this week two
years ago of S9,097 bales.
The visible supply of the week end
was only 100000 bales more than
year ago, the figures being 2,61S,6O7
bales, against 2,516.534.
METAL MARKETS.