Evening star. [volume] (Washington, D.C.) 1854-1972, 1911-05-07
COTTON MARKETS.
NEW YORK.

NEW YORK, May 6.--The cotton mar
ket was somewhat irregular today, but In
spite OF considerable realizing for over
the week end, near months made new
nigh records for the movement, with the
close very steady on the old crop, and
steady on the new, net s points higher
TO 3 points lower. The opening was
steady at unchanged prices to an ad-
vance of points, with the old crop rela-
lively firm on steady showing of the
cables and bullish weekend figures
Favorable weather reports inspired some
| selling OF the late months, and after the
opening prices eaSed off to a net decline
or TO points on these positions, bu,
the Old crop ruled generally very firm
ana IN the late trading advanced sharply
on DUH support and covering by Wall
! street shorts. July contracts reached
1o.4s, or points above the closing fig
ures OF Friday night and even with the
nigh record for the session made last
december, and around this price leading
bulls brokers sold just enough stock
! W check the upward movement. Old crop
positions closed within a point Of the
best. but the new crop was or !
points off from the top, owing to the
failure OF the western belt forecast tC
indicate the expected rains over Sun
day 1t called for increasingly cloudy
and unsettled conditions in Oklahoma
however. and with the low barometer
noted yesterday in the northwest work
ing southwark there was just enough
uncertainty over weather conditions to
prevent any aggressive selling for shor,
account.
Estimates for Mondays receipts at lead
Ing points were heavier, but the bull
ish idea that they foreshadowed bulge
IN the export movement was confirmed
to some extent by the fact that the
amount Of cotton on shipboard at the
close OF the week showed an increase
over last year. Domestic trade accounts
showed little or no improvement curtail-
ment Of production in Fall River being
estimated at 10000 pieces for the week.
Liverpool. however, reported a continued
good trade.
NEW ORLEANS.
NEW ORLEANS, La. May s.-spot
cotton steady, unchanged: middling.
10 l5-16 sales on the spot. 40 baies: to
Futures opened steady at an advanc, O:
one point of the old-crop months and a
decline OF to points on the new. Gables
were favorable and sustained the near
months. but the distant months We're
under pressure because Of the favorable
weather map.
Immediately after the call the new
crops We're to down. but shorts COM
menced covering at this level. and at the
end of the first half hour of business
compared with yesterdays close; the
old crops stood 3 to points up
Around the middle of the morning
shorts began to cover in Increased vol
| ulne, and they found the ring Offering
| little cotton. The result was that the
tendency Of the new crop months to de-
cline was checked, while the old crops
were put to about the highest levels of
the week. In spite OF the good weather
outlook there was little fresh short SELL
ing at any time. At the highest Of the
morning the old crop deliveries were six
seven points over yesterdays close
he new crops were t. over. The
lose was steady, unclaimed TO six ur
impaired with yeSte' days last prices.
Futures closed steady. unchanged to
six points up. compared with yesterdays
close
Closing bid: My. 1912; June. 1547;
July. 15.49: August. 1857: September.
13 ~: October. 1925; December 1888.
NEW ORLEANS, La, May 6.-The cot
ton market was unsettled and irregular
his week. The weather was the DOM
mating influence. The net results were
an advance Of to 8 points on the old
crop months and decline Of % to "a
points on the new. Favorable weather
was a pressure on the new crops, but
not on the old. The high prices were
made on Monday and the low Friday.
From the highest to the lowest there was
a drop Of q to 40 points.
At the highest the loss was 7 to II