Evening star. [volume] (Washington, D.C.) 1854-1972, 1911-10-08
COTTON MARKETS.
NEW YORK.

NEW YORK, October IAN early rally
attributed to apprehensions of less ia
vorable weather and covering for over
the week end was followed by renewed
with prices making new low records on
most deliveries, and closing weak at a
net decline OF 4a7 points The opening
was steady at an advance of Sac points
in response to higher cables than looked
for and apprehensions of frost in the
western belt. Overnight selling orders
sent prices off 3 or points from the
opening. but there was just enough nerv-
the tendency Of speculative shorts to
take profits for over the week end, and
prices were fairly steady until rather late
in the morning. when the demand slack
owing to the failure of the official fore
casts or private adyices from the south
to indicate anything like damaging tenn
peratures, unfavorable trade advices and
continued southern selling. The break
carried December and all later deliveries
into new low ground for the movement,
and the market closed within a point or
two of the lowest. Private cables at
tributed the relatively steady tone at
Liverpool to covering Of shorts on reports
of a cold wave in the southwest Official
weather reports showed lower tempera-
lures in the western belt last night, but
there was no appearance or frost, and
while the western belt forecast called
was for higher temperatures tomorrow,
and frost was not mentioned Reviews Of
the dry goods situation suggested that
the continued weakness of raw material
had checked demand, as buyers were be-
ing led to hold off in the hope of lower
prices. and sales of print cloths at Fall
River were estimated at only $4,000
pieces for the week. The mills. mean
Fall River curtailment for the week being
estimated at 10000 pieces against over
10000 the previous week, and possibly
some OF the days sellers feared an &C
cumulation of goods as well as the con-
tinued heavy movement of raw material
The cotton market this week made a
loss Of 81 to IS points compared with the
close OF last week. The close was prac
tically at the lowest. The high prices
were made Monday and Wednesday when
the trading months were unchanged to
points down compared with last weeks
final quotations From the highest to the
lowest there was a range of "a to A
points.
reau reports on condition and ginning
The conditions report of I'll per cent of
the normal and the ginners report of
3.663,O68 bales stimulated short selling
and also caused no little selling out Of
long cotton. and but for taking by
shorts on heavy scale the decline would
have been wider.
The weather of the week was most
favorable. The crop continued to ripen
and some crop experts claimed that 80
per cent of the bolls Of the entire crop
were open. Picking was carried on on a
gigantic scale, and in many sections was
continued by moonlight. Reports state
that ginneries were working night and day,
but In spite Of this much cotton was being
stored in the seed
The movement was very large and re-
suited In great increases in stocks and
IN the visible supply. At. the week end.
however. it was the general impression
that there was letting up in receipts
In the spot department the demand was
policy OF buying only to supply their
immediate needs. Prices fell ills of a
cent a pound. niddling closing at OK.
AGAINST 10 S-l6 last week and IAN this
week last year. Sales on the spot
amounted to l.eao bales. against 1.734 last
week and 2, 400 this week last wear
Sales to errive amounted to 1890 bales.
week last year