Evening star. [volume] (Washington, D.C.) 1854-1972, 1911-02-26
COTTON MARKETS.
NEW YORK.

NEW YORK.
NEW YORK. February 25.-The steadi-
er tone noted in the cotton market after
the stopping of March notices YESTERDAY
was in evidence again today. with prices
closing very steady at net advance
Of 3as points. practically the best point
of the day May contracts sold at li.lO.
or points above the closing figures OIL
last night. and at the highest fgure
reached since the price of that contract
touched 1870 February rs. The market
opened steady at unchanged prices TO
decline of points under scattered real
lzing and some local selling. but tins was
better than due on the showing of Liver
pool futures. There appeared to be com.
paratively little cotton for SAFE anu
prices soon rallied on covering of shorts
and bull support of May and July me
buying appeared to be encouraged ny
comparatively large spot sales at Liver.
pool. and the relative steadiness OF spot
cotton there, also by predictions OF a
rapidly strengthening statistical position
during the balance of the season. ano
rather more encouraging reports from
Manchester. Then, too, the stopping OF
March notices in the local market yester-
day is regarded by some as indicating
that leading bull interests have by no
high prices during the endseason, and
while the bulk of today's demand seemed
to be for the purpose OF covering snorts;
there was enough support from the ouil
leaders to noip the tome VI tHe HHdi nc.
General business was very quiet,
suggesting no revival OF outside inter-
est. and sellers on the advance had
the encouragement OF unfavoraDie
weekly reviews Of the domestic mill
situation, including reports of increas-
ed curtailment at Fall River as well
as southern advices indicating large
fertilizer sales and increasing pros
poets for large acreage Owing to
large outside clearances port receipts
g. ytnvs hon
early estimates. but the bulk of the
cotton showed in the exports.
NEW ORLEANS.
NEW ORLEANS, La, February 25.-
Cotton-Spot firm, unchanged; middling.
Ia TIC: sales on the spot, p bales; to
arrive 200.
Futures opened steady. one point up
to one point down, compared with yes
terday's close. This was strong
opening. considering the attitude of
the Liverpool market. There was lit
tie cotton for sale in the early trad
ing. and shorts who wanted to cover
over the week end bid prices up on
themselves.
The weather over the cotton belt
continued favorable, and this served
to deaden. the new crop positions, no
trading at all being reported in them
in the first half of the session. At
the end of that time the old crop de-
liveries were 2 to 6 points over yes
terday'S close.
The market was very steady Throughout
the short weekend session. Gossip on
the floor was to the effect that profess
SIGNALS on the bull side were entering the
market again. One story was to the eff
feet that a prominent Texas trader. here
Tor the carnival, was good buyer of the
old-crop months. At all times there was
good demand for shorts, and in spite of
the fact that prices reached the highest
levels of the. week there was no DISPOSE
ton to put out short sales at the advance.
At the highest the trading months were
to points over yesterdays last prices.
The close was Very steady at a net adj
vance of to 8 points.
Receipts, LABS bales; stock. 154. 1858 bales.
Closing bids-February, 14O5, nominal;
March. ALA; May. 1432: July, 14.42; Au-
gust, 1879; October. 1912; December,
The net results in the cotton movement
this week were decline of 2al1 points on
the trading months. Bears were aggres-
s1ve. but toward the last of the week the
market acted over-sold. and the highest
levels were reached on the closing ses-
sion. At the highest prices were still l.
TO IL points under last weeks close: at
the lowest they were % to 81 points
under. From the lowest to the highest
there was rise Of Il to % points.
The principal features OF the week were
bearish. Thus the contest over the Scott
and so was the weather over the cotton
belt. The agitation caused by the Scott
bill prevented trading on anything like a
normal scale. Bears were more willing
70 increase their commitments than were
the bulls. The slump in the stock market
that followed the freight-rate decisions by
the interstate commerce commission
caused a sympathetic break in cotton, and
this sympathetic decline was all the wider
because it came on Friday, the first notice
day for March in the New York market
The uncertainty over these notices. their
number and who would stop them caused
more or less liquidation of the near
months In this market.
The recovery in prices was due in q
large measure to covering by shorts. who
were afraid of the growing demand for
spot cotton and the growing strength Of
the statistical position. Much covering
the things the bears did not like were the
loss OF port stocks, which on Monday
alone amounted to 1900 bales; the fact
that stocks at thirty counted in the in.
6o1 ,OS4 year ago. mill takings for the
week of 2S7O0O bales against 1890 the
same week last year. and 272,OOO two
years ago. and the decrease for the week
In the visible supply of 1o4.1s4 bales,
against decrease this week last year
Of 1897 bales. and decrease this week
two years ago of 1912.
In the spot market prices lost one-six-
teenth. middling closing at IA 7-16 cents,
against 14k cents last week, and 14ss
cents this week last year. Sales on the
spot amounted to CSC bales, against l PSI
last week. and G,575 this week last year
Sales to arrive amounted to 2235 bales,
against 1910 last week, and 1850 this
week last year. In addition to this trad
Ing large sales of hedged cotton were
made one transaction alone involved I, 100
bales. Or the best part of million dollars
worth of the staple.
LIVERPOOL.
LIVERPOOL, February 25, 1890 p.m.-
Closing: COtton-Spot in fair demand:
prices points higher; American mid
ding. fair. 500; good middling. 76s; mid
ding. 1.5i: low middling 36. good ordi