Evening star. [volume] (Washington, D.C.) 1854-1972, 1911-03-19
NEW ORLEANS.

NEW ORLEANS. March 1s.-The cot
ton market this week was dull and mar
row and price changes were insignificant
The net results We're a loss Of l to
points. The high prices We're reached
Friday, when the market was to u
points over last weeks close. and lower
prices were made Tuesday. when the
market was to . points under From
the lowest to the highest there was a
range of Ii to - points.
Probably the net changes would have
favored the long side more but for the
report or rains in the west right on the
CLOSING session and the weather fore
cast which promised more rain quite
generally over the belt over Sunday on
the closing session the market acted
somewhat overSold and the buying o.
covers by shorts was its chief support.
Speculation was throtted in the entire
week by the nearness of the census GiI-
reaus final report of the season on gltI-
ming. This report will be issued five MN
utes before the trading of the new week
begins and therefore much Of the bl=i-
ness of the latter part Of the week Was
in the nature of evening up operations.
while at no time did either side betray
any great desire to increase commit
ments. At all times there was consider
able conflict of opinion over the pending
report Individual estimates ranging from
as low as 1.Sp0.000 bales. including lin
tiers. to as high as 12,2oo,0o0 bales.
The weather of the week was regard
1t was giving the new crop a setbacl,
Up to Saturday much complaint OF
drought was heard in nearly every state
In the cotton belt, and but for the census
report heavy trading for a rise probably
would have resulted. As it was. the bulls
did not take advantage of the situation.
On the week end the chances seemed to
be that the drought would be brief over
Sunday. Good rains were reported in
north Texas. north Louisiana and in por-
tons of Arkansas
The statistics of the week were very
bullish, the into sight being placed at
100 49, bales. against 1a0,342 this week
last year, and 49, 155 this week two years
ago. while the visible supply showed a
decrease for the week OF 143. 01O bales.
against a decrease of 30, $40 last year and
a decrease of 1894 this week two years
ago. In some measure statistics were
responsible for the covering of shorts to-
ward the week end and the highest level
of the week i'm prices.
In the spot department prices advanced
one sixteenth. middliEg closing at 14hsc.
week last year. Sales on the spot
amounted to 2,Ao5 bales, against 3..2,ar;
last week and 4,255 this week last year:
sales to arrive totaled ESQ bales. against
5.19S last week and loo this week last
year.
NEW ORLEANS. March 1S.-Spot cot
ton steady. unchanged: middling. 14Sc.
Sales on the spot, 30 bales: to arrive,
575.
Cotton futures opened steady at de-
cline of points on reports of rain i'm the
northern counties of Texas to the north
ern parishes of louisiana and in scat
tered sections of Arkanas and Oklahoma.
At some points precipitations of over an
inch We're reported. which led to the con
clusion that the drouth was broken over
rather a large area.
In the early trading the rains held
prices down, but bears were not abb To
widen the initial decline much becausa
of the desire for profits on the part Of
scalpng shorts. who furnished good
demand. At the end of the first half
hour of business the list was to y
points under yesterdays close.
At the lowest of the morning the list
was to points under yester lays clos.
At this level profit-taking by shorts was
heavy and all offerings were absorbed.
with the result that the market made Il
small recovery. No great buying power
was in evidence at any time, however.
as the forecast calling for unsettled
weather and local rains nearly every
where in the cotton country over Sunday
effectualiy did away with all desire on
the part of the long side to increase its
The close was barely
steady. with Il net decline of to >
points.
Closing bids: March 1871: April, 14.:9.
May, 14.46; July. 14.a3; August, 1855:
October, leo; December, 12..,5.