Evening star. [volume] (Washington, D.C.) 1854-1972, 1912-01-07
COTTON MARKETS.
NEW YORK.

NEW YORK.
NEW YORK. January 6.-Reports that
a basis for the settlement Of the Lanca-
shire labor dispute had been devised at
yesterdays conference which was prac-
tically certain of acceptance next Monday
impaired a decidedly firmer tone to the
cotton market during today's session and
prices made new high ground for the
movement with the closing strong at a
net advance of 15a17 points.
The opening was firm at an advance Of
Gallo points in response to higher cables
and the more optimistic labor news. Cow
ering was active, a few stop-loss orders
We're uncovered and there was fresh buy
ing for long account, which probably was
encouraged by the rather less bearish
showing of the weekend figures as we'll
as by the foreign news
There was great deal Of cotton for
sale around 90 for May and $50 for July.
partly it seemed, for southern account.
but the offerings were very we'll absorbed
on reaction OF 2 or j points from the
best and the market later developed in
creased firmness on continued coverings,
foreign buying and bull support.
Demand seemed to be active and gen.
eral enough to permit of some reduction
OF recently accumulated long lines on q
scale-up, and the market closed within a
point or two of the best. May contracts
sold at 947 In the late trading, or about
II points above the low records of last
month. Domestic views read rather cheer
full as to the prospects for revival OF
active business, but aside from the for
eign strength and the somewhat bullish
statistics. there appeared to be no par
ticular factor In the days news to ac-
count for the sharp advance.
Receipts at all the ports today, $1,000
bales. against 74.968 last week and 1862
last year. For the week. 10000. against
So. 375 last week and 14, J02 last year.
Today's receipts at New Orleans. 9,5vJ,
against 9O95 last year; at Galveston.
II, 1858. against 1851 last year. and ut
Houston IA. 7s5. against 6.226 last year:
NEW ORLEANS. January Cotton
futures opened steady at an advance Of
than expected and reports that the
Lancashire lockout was practically end
ed. The market closed steady at a net
advance of Is to II points.
struck the market around the middle OF
the morning and absorbed offerings from
profit-taking longs. The advance con-
tinued until the most active months were
10 to 20 points up. For a Saturday ses-
sion the market was active. The close
was steady.
Spot cotton firm, lie up. Middling. ~;
sales on the spot, 415 bales: to arrive, 25O.
January closed, 9.3S: February, $40;
March. 9.46; May, 9.59; July. 9.75; August.
81
Weekly review Of cotton: The cotton
market had a good tone throughout the
week and at no time were prices below
the level of last weeks close. The
market practically opened at the lowest
and closed at the highest. Bulls offered
week the inclination was to advance
strongly on reports from England that
the labor troubles in the Lancashire mill
district had been settled
The high prices OF the week were made
Saturday. and the low prices Tuesday;
at the highest the trading months were
80 to Al points over last weeks close; at
the lowest they were to 8 points over.
The range of prices was SO to 80 points.
Spot interests supposed to constitute
buyers Of the week, but there was also
a good volume Of buying from shorts
who wanted to stop their losses.
The weather over the cotton belt con-
gins were that they were still running
on cotton stored in the seed, and
bearish report is expected.
In the spot department prices advanced
3-16. middling closing at 9A. against
Lie last week and IA 1916 this week
last year. Sales on the spot amounted to
3 1866 bales. against 1,7s5 last week and
5,735 this week last year; sales to ar
rive amounted to Also bales. against
1.69O last week and 6,13O this week last
year.
NEW ORLEANS. January Cotton
futures opened steady at an advance of
to 8 points on higher Liverpool market
than expected and reports that the lock-
out in Lancashire had practically come to
an end Shorts were buyers over the
week end and a moderate amount of fresh
buying for long account was in evidence.
The storm warning by the weather bu-
reau, predicting a disturbance from the
west and freezing weather. increased the
desire to buy. At the end of the first half
hour of business prices were to 10
points up.
Aggressive buying for the long account
struck the market around the middle Of
the morning and absorbed offerings from
profit-taking longs Shorts increased their
demand for covers for fear Of further ag-
gressiveness from the bulls In the other
markets of the world Monday, which is a
holiday here For Saturday session the
market was active. The undertone was
firm. The advance continued until the
most active months were 10 to % points
up. Here profit-taking by longs became
heavy enough to check the rise and cause
small reaction. The market closed at
a net advance of Is to II points.