Evening star. [volume] (Washington, D.C.) 1854-1972, 1911-10-01
COTTON MARKETS.
NEW YORK.

NEW YORK, September 30.-New low
records were made in the cotton market
today Under more or less general selling
which was inspired by report of weaker
southwestern spot markets. the unset
tied state of affairs abroad. and bearish
private crop reports. The close was
steady. but at a net decline of aa1o points.
The market opened barely steady at a
decline of CALI points and all active posi-
tons except October made new low rec
ords either on or Immediately following
the call There We're again many over
night selling orders around the ring from
the south. while local bear pressure and
liquidation by recent buyers for re-
action was encouraged by the weakness
of Liverpool, feeling that the European
situation was against any immediate ex-
pansion OF general business abroad. talk
that the continued weakness OF raw
material was causing renewed heslta-
ton in the domestic cotton goods market,
and rumors that southwestern holders
who are said to have been holding back
their cotton for highter prices were Of
ferIng more freely late yesterday. Cover
ing and Il moderate demand from spin
nerS proved sufficient to check the de-
cline around 1917 for December. but
the market rallied only or ; points
from the lowest and some of the latter
months sold into new low ground during
the late trading. Closing prices were
only shade up from the lowest on the
nearer months. Two private crop re-
ports We're published. one of which made
the condition, 1o.S and indicated de-
terioration Of only Is per cent for the
month, while the other making the con-
dition T2S showed a falling off for the
period of about per cent On the aver
age for the past ten years the condition
has shown a deterioration of about
per cent during September, and the trade
consequently seems to be looking for
ment Monday The favorable weather
during September is also expected to re-
suit in Very large ginning figures, and
the census report, which Is also to be
published Monday. is probably expected
to show from 3.250,009 to 100000 bales
einned to September %, against 2.312oUo
last year and the previous high record OF
2, $50 600 in 1908.
The net results of the weeks trading
in the cotton market were a loss of ~
to 4s points. The market practically
opened at the highest and closed at the
lowest. for the high prices We're made
Monday and the low prices Saturday. At
the highest the list. was Z to . points
under last weeks close. and at the low
est it was 40 to 40 points under. Prices
ranged over 80 to 40 points. Good
weather, heavy movement. lack of the
usual spot demands, reports of poor bust
ness in this country, authorizations of
bearish bureau reports on ginning and
condition, the war between Italy and
Turkey and fear of complications In Eu
ropean politics all worked against prices
this week. Support came principally
from the short sides. and on several oc-
caSions the decline was checked simply
by the oversold condition of the mar
ket Prices made new low levels for the
season. and the October position broke
through the ten-cent level to $50. The
last half of the week was rather quiet.
In the spot department prices lost a
quarter of cent, middling closing at
10 9-16, against 10 1916 last week and
l. GIG this week last year. Sales on the
spot amounted to ]. 734 bales. against 971
last week and 2,52T this week last year.
Sales to arrive amounted to L., 700 bales,
against 9.17J last week and $50 this
week last year.