Evening star. [volume] (Washington, D.C.) 1854-1972, 1911-04-02

NEW YORK.

NEW xU6A.
NEW YORK, April 1.-The cotton
market was very nervous and irregus
lar today, the features being active
buying by the brokers who have rec
Gently been prominent sellers OF Judy
and the relatively easier ruling OF May
both of which furnished a distinct
contrast TO the developments of the
earlier week. The close was steady
net points lower to points higher,
The market opened steady at rnchan9-
eo prices to a decline OF points. for
while the cables We're better than due.
there were lot of overnight selling
orders around the ring. attracted by
the weakness OF the market late yes
terday. and there was some further
scattering liquidation, owing TO reports
OF increased curtsilment among the
an River mills and continued favor
able weather advices. July contracts
sold at 1898 on the call, but at this
ieVel prominent bull broker. who
mas recently been a heavy seller an
peared as large buyer. and there
also seemed to be good demand for
bull leaders. This soon checked this
decline. and the market rallied quite
sharply during the middle of the morn
ing. with May selling up to 1888 and
net higher. There appeared 10 he
quite lot of May for sale. however.
ana that position subsequently eased
meeting good demand from the lead
ing spot interests around 1927. At
| the close May showed a net loss OF 4
point. while July and new crop months
ruled from 3 to 6 points net higher
The relatively firm showing OF LIVER
pool was attributed by private cables
| to calling by mills and a bullish con-
structon OF the weekend figures, and
while the selling Of May was accom-
panied Dy rumors OF an easier turn in
the interior southern spot markets,
| nothing definite developed in that con.
house at Hamburg, Germany. had no
apparent effect on the market
NEW ORLEANS.
NEW ORLEANS, April l-Spot cotton
steady. 1-16 Off: middlng I4as sales
on the spot. l25 bales, to arrive "a
Futures opened steady, unchanged to ,
points down. compared with yesterday.s
close. Gables were about as expected
and the weather map indicated rain.
IN Iexas, ana more seasonable temper
AZURE everywhere in the cotton country.
| This stimulated selling on the first cali.
but Immediately after the market acted
oversold and shorts who wanted to
cover over Sunday found little for sale
Their bids caused prices to strengthen.
and at the end of the first half hour
or business the trading months were . TO
points over yesterdays quotations.
| Inc market was quiet, but steady
throughout the session, although at no
time was there any buying for long ac-
count OF consequence. At all times The
support came principally from covering
shorts The forecast was for rain quito
generally over the cotton belt an this
was regarded as a favorable feature. hu;
caused no selling except among tie
strongest shorts.
At the highest of the morning. the oil
| crop months were to points oy =
| YESTERDAYS ha
months were three points over. The
market was very dun toward the close.
which was steady at new advance
Of to points. Close: April I4l0; Nav
14.2o; July. 14.27: August. 1859; Oc-
| tober 1888; December. 12.45
! NEW ORLEANS, La, April 1.-The
cotton market this week has been quiet
and extremely narrow. The extreme
range of prices on the old crop months
was over only 3 to Is points. while on
the new crops ii was over only II points.
| The net change for the week was a de-
cline Of IL to 10 points on the old crops
and an advance of 1 to points on the
/! new. The high prices were made on
Monday on the old crops and on Wed.
nesday and Thursday on the new; the
low prices were reached on Tuesday. A.
to points over last weeks last pF1es0i
at the lowest they were 10 to - points
under on the old crops and to points
under on the new.
\ Inc 8TedSeT OF tho OoW 0YDX
deliveries was due to the wide discosm1
at which they have been selling md6f
| the old, which led to a great deal %
straddle trading, in which the old oyop1
were sold short and the new crop1 were
bought. the idea being. Of course, thai
the discount was unnatural and would
have to lessen At times this straAdlS
buying was all the support tho new crop6
| had, but 1t was effective.
The news OF the week mainly concern
| ed the new crop and tho trade situation
Reports from the cotton belt were al
most invariably bearish, except Just after
| the middle OF the week. when some frost
was reported in sections where consider
able young cotton was said to be up.
| Planting made great Roadway In Texas.
Louisiana, Georgia and even Mississippi
| and Alabama Some little rain fell, but
| the precipitation was not heavy enough
| to interfere with planting.
Trade reports from this country were
unfavorable, but were just the reverse
from England. Manchester reported Il
good demand for cloth at a good margia
| Of profit, and the Liverpool spot sales
were large.
These conflicting trade accounts served
to deaden speculation.
In the spot market prices lost three
Sixteenths, uliddling closing at 143s.
against II 9-l6 last week and lax this
week last year. Sales on the spot amount
ed to 1855 bales. against 1.S4o bales Lass
week and $3.50 bales this week last yea.
Sales to arrive amounted to 1.3s6 la les.
against 1855 bales last week and 2.eE
bales this week last year.