Evening star. [volume] (Washington, D.C.) 1854-1972, 1911-12-10
NEW ORLEANS.

NEW ORLEANS, December 9.-Cotton
futures opened steady, at an advance OF
2 to points on good cables The close
was steady, unchanged to points up.
The weather map was called unfavorable
as too much rain was reported in the
central and eastern sections OF the cot
ton region. This led to some buying on
the theory that picking, and, therefore,
ginning. was being interfered with.
Sellers of yesterday were inclined TO
take profits, which furnished moderate
demand Immediately after the call, when
the trading months were 4 to points
up. Liquidation of the long account
started here and the market did not hold
At the end of the first hat hour of bust
ness prices were 1 to points over yes
terday's final quotation.
From the middle of the morning on ex-
IRENE dullness ruled Commission houses
had a few buying orders to fill. and these
steadied the market. The most active
months stood still at yesterdays closing
level for some time. Several large crop
estimates from crop bureaus and private
sources made their appearance, but did
not cause any selling of consequence;
The forecast of unsettled weather and
rain in the cotton region over Sunday
brought out limited amount Of buying.
Spot cotton quiet unchanged. Middl1ng,
o 1916 Sales on the spot. 5o bales; to ar
rive. 1850.
Cotton futures closed steady. Deem
Der, S.s2: January, SIS; March. s.S3: May.
500: July, 9.04; August, 9.O1; October
S.95.
The net results Of the weeks trading in
the cotton market was decline of 1 to
points. The high prices of the week were
made Thursday and the low prices Fri
day. Following the census report on gin
ming Friday there was a drop of quar-
ter of cent. At the highest the tradlng
months were % to "a points over last
weeks close: at the lowest they were
to points under. The range or prices
was % to % points.
During the week up to Friday the mar
ket was supported by the covering OF
shorts. Friday the market appeared to
be in a weak position. technically. and
bales up to December ! was bearish
enough to cause considerable selling
which the market was in no position to
stand as bulls offered no support what
and the report on ginning the week was
featured only by large crop estimates
from private sources.
The weekly statement showed large
into sight and also large out OF s,g a
anced. Attention was called by the
bears to the fact that the visible supply
is now 4.23O. 743 bales. against 3,'o626 a
year ago, and 3,797,519 two years ago.
Bullish circular writer's made particular
mention of the fact that spinners' TAX
ings for the season amount to 4,SooU
bales, against 3,7S5.Do year ago, ana
3.S43 coo two years ago.
In the spot market prices closed IN
changed. compared with last week, MO
ding being quoted at 9 3-16. year ago
middling was quoted at 147s Sales on
the spot amounted to 1873 bales, against
1927 last week, and 5,105 this week last
year: sales to arrive amounted TO l3,oto
bales against o.075 last week. and ',f5o
this week last year.
Secretary Testers Report.
NEW ORLEANS. December 9.-Secre-
tary Hester Of the New Orleans Cotton
Exchange today issued a staten mt OF
weights Of $3.50, 773 bales of cotton han
died at outports and across the Miss s.
to American manufa turers outside of the
cotton belt during the months sep
TENDER to November, inclusive, showing an
average per bale of 521.03 pounds, against
$3.50 for the same period last year.
Deta led averages are:
Texas ports, $40, against o51-6l last
year.
Louisiana ports, 5273s, against 52l "a
Alabama ports. 5ss.7, against 55oo3
last year.
Georgia ports, 516sO. against $40 80 last
year.
South Carolina ports 497. against 49,
North Carolina ports, 494, against 492
last year.
Virginia ports 49, against 400 last year.
Tennessee, etc, J26.sJ, against go %
last year.
These averages are of cotton handled at
ports and overland based on official re-
turns OF the secretaries and superintend-
ents of exchanges and experts at ports,
etc. in the states named.