Evening star. [volume] (Washington, D.C.) 1854-1972, 1911-06-18
NEW ORLEANS.

| NEW ORLEANS. June 17-Bears were
/ in control OF the cotton market today, re-
ports from several sections OF the cotton
country that rain had fallen and the fore
| cast OF showers for practically the en-
! tire belt being responsible for a net de-
cline of n to "a points for the day.
Futures opened barely steady at net
decline of ? to is points on private re-
| ports of good rains in west Texas. The
weather map had indicated only a little
,, rain in Texas. although very fair show
| ers were shown in the eastern half OF
the belt. Gables We're Indifferent. Longs
who were afraid to carry their holdings
over Sunday and shorts began to sell
freely, and the market broke quickly I'M
der these offerings. At the end of the
| first haf-hour of business the old crops
were Is to % points under yesterday S
close. and the new crops % to % under.
The market was lowest soon after the
middle of the morning. when July, the
weakest option in the list. broke through
the 15-cent mark and landed at 1885, a
net loss of "a points.
August lost 80 points and the new
crops % to q Late in the morning the
market was quiet. the demand being
principally from profit-taking shorts. The
last prices were II to "a points lower
than yesterdays close.
Spot cotton nominal, unchanged; mid
ding, - 5-16 sales on the spot, 205 bales,
to arrive. o.
Futures opened barely steady and
closed steady. June. 14.14: July, 1885;
August. 14.24; September, 13.44 October.
1921: December. 1920; January. 1926;
March, 1886.
The net results of the week in the cot
ton market were decline of % to 50
points. July made the greatest loss.
The high prices of the week were made
Monday and the low prices Saturday. In
other words. the market opened at the
top and closed at the bottom. At the
highest the list was to 26 points over
last weeks close; at the lowest it was
% to CD points under. From the highest
to the lowest there was a drop of As to
16 points.
1t was wholly weather market, and
reports of light showers in the belt, some
of them confirmed and some OF them I'M
confirmed. put values down. The slump
on the week end was due tc showers
in the eastern half Of the belt, as shown
by the weather map, and private reports,
not confirmed, Of good rains in west
Texas.
Although prices made a wide decline,
1t cannot be said that any great amount
of rain fell during the week. and at the
close the crop still needed general and
soaking rains. Reports from some parts
of the belt were to the effect that cotton
growing as the result of the lack OF
moisture Temperatures were very high
the week through, and intensified the eff
feet Of the drought.
lie WedhucsS VI July sctiitu " 1oi-
firm the stories that the leading bulls had
thrown their deal in the old crops over
1t was apparent late in the week that
some large line of long July cotton was
being put in market but the trade could
not decide who was the seller. One rumor
was that the cotton belonged to large
traders. who have been following the op-
erations Of but who are not members OF
the bull clique.
In the spot department prices lost Il
middling closing at 10 5-16. against 10 Tie
last week and 147s this week last year
Sales on the spot amounted to !, 176 bales
against 1852 a week ago and 2O55 a year
ago. Sales to arrive amounted TO 1.5Oe
bales, against 123 last week, and 71J this
week last year