Evening star. [volume] (Washington, D.C.) 1854-1972, 1911-05-21
The World of Finance and Trade.
Washington; New York; London
COTTON MARKETS.
NEW YORK.

cial forecast for frost in the Texas
panhandle caused an advance after
an irregular opening in the cotton mar
ket this morning, weather conditions as
Ia whole seemed to make a more favor
able impression on sentiment owing to
reports of rain in the eastern belt, and
the market closed barely steady at a
net decline of sail points under realiz-
ing and local selling. The opening was
steady. at an advance of points to a
decline of points, near months being
higher on the bullish weekend figures
and scattered covering, while late posi-
lions responded to the reports of more
or less general showers in the eastern
belt and prospects for further showers
over the week end. Right after the
opening prices showed a tendency to
ease off. owing to the rain news, but
the offerings were well absorbed, and
Immediately following the publication
of the western belt forecast calling for
the expected showers, but also for frost
in the panhandle, the market stiffen-
ed up on covering by early sellers and
some fresh buying for long account
which sent prices to a net advance
of about Sac points. Few local traders,
however. seemed to be seriously i'm
pressed by the frost prediction. evil
IDENTIFY considering it too late in the
season for any material damage from
low temperature; leading spot interest
seemed to be selling August. numerous
fetal showers in the belt and the mar
ket in the later trading reached the
lowest point of the day under more ag-
gressive local offerings. a feeling that
leading bulls were reducing their old cror
lines and weekend realizing The close
was shade up from the lowest on July
and October, but at practically the low
point on other months. Liverpool re-
ported quiet, featureless market ther e
and while weekly reviews of the dry
iv,6i t<x1
ter demand. curtailment on the part OF
domestic mills was said to be increas-
ing If anything.
NEW ORLEANS. May Gothic net
price offerings in the cotton market this
week were small. On August there was
a decline of IL points; on the other &C
tive months there was an advance of 3
to q points. The high prices Of the week
were made on Thursday and the low
prices were made on Monday. At the
highest market was 13 to % points over
last weeks close, and at the lowest it
was II to IA points under. From the
lowest to the highest there was range
of 81 to 81 points.
good weather conditions. but leading bull
operators did not allow the decline to
go very far. They offered good support
on all soft spots. but at the same time
appeared to be against a very wide ad-
vance. New high levels for the season
We're made on old crop months. July go
ing up to 1897. 1t would have been an
easy matter to have put July we'll over
the 1G mark, but bull interests them
selves fed enough cotton to hold the mar
ket down.
News from England continued bullish,
private advices stating that Manchester
mills were accepting a large business
ahead. From the dry goods centers of
ment in reports and this caused some
little buying of October contracts on the
theory that mills will eagerly grab at
early moving cotton.
The weather of the week was generally
favorable, although some complaints OF
drought were heard. Light showers to-
ward the end Of the week and the prom
Use of more showers over Sunday relieved
the droughty spots IN the belt.
In the spot department prices advanced
3-16, middling closing at 10 11-16 against
151a last week and 10 this week last
year. Sales on the spot amounted to
1.SA bales, against 1903 last week and
2, 7OS this week last year. Sales to ar
1905 last week and 1,473 this week
last year.
NEW ORLEANS. May 2o.-A renewal
today Of yesterdays selling movement in
the cotton market. due to poor cables
and unfayorable weather reports, served
to depress prices and the close showed
net loss of to points.
Futures opened steady, unchanged to
l point down. Cables were too low and
weather news was good. This resulted
in rather heavy selling and material
decline would have been brought about
but for the support of leading bulls. AT
1880 for July, a loss OF . points, Hayne
was a bidder for thousands of bales, but
the ring had little cotton to sell him.
The weather forecast for over Sunday
calling for colder weather in Oklahoma
and west Texas, with frost in the pam
handle. further steadied the market.
Around the middle of the morning sell
ing became general and bulls made no
great effort to hold prices up. At the
lowest of the morning the list was to
IL points under yesterdays last prices.
and at the close was to points down.
Spot cotton steady, unchanged: mid
ding, ID 11-16. Sales on the spot, lSU
bales: to arrive, 200.
Futures opened and closed steady: May,
1855: June. 1886; July, 1888: August.
14.s2: September, 1852: October. 1909;
December. 1902.