The sun., 1912-08-07
FURTHER RAINS IN
TEXAS BREAK COTTON
,alanchc Of Selling Caused by
GcAcral Precipitation in
southwest.
NJ FEAR or DROUGHT NOW
,o,ur RcactiOm Might BE En-
pcrtrd We're 1t Not for Weak
Technical Position.
NJ FEAR or DROUGHT NOW

,...fi.,g FORECAST IN TIE COTTON STATES.
.... Ns.h carolina and South Carolina,
..,., r,. to-day and tomorrow; not
.... .,.aHEc !u temperature, light variable
r- u,5rGa, cloudy to-day: probably
.s... .,. oa tn" coast. Tomorrow showers:
e.. .A.i4N.r winds.
I- Nabnml and Mississippi. unsettled
.. ..A,t. r-oharly local showers to-day and
.,...srre. H.ht variable winds.
..i I.oai.ialt cloudy In southern. prob
.. .sc.I showers in northern portion to-
. .r.no~roV i,lt: ,lgh; sou,herly winds
I'.. ...'.rn TrNas, fair to-day: warmer In
.o. .N,ts' rar'ion. tomorrow fair: light to
.-. ..ttfu .,tth"r,y winds.
r.. e.s','u rcxss. fair to-day and to-mor-
.,r .,l nt,h change In temperature.
l.. NrAtrsas. local showers to-day; to-
....t. r-.bJ,,y iaIr; no; much change in
r,,f,.rr.
'r ~upe.s,c and Kentucky. cloudy.
.. .. no',rs in western portion to-day;
,. .-ro. -tpN'rs
I..J- in"lod the weather prophets and
n.r.ci rtrcr,> Yesterday by reporting
I" rrlyict rains of the summer over a
'." GOT. tbu- bringing about a break
e.. i,riut, or 81 IN the cot on market, " tn
f'i.r- dosing at the bottom for all options.
.'" Nc.tler Bureau had predicted fair
...firr over Texas and a good many bulls
s.rc ou'o'irag gcd to take on a lot of cotton
',.'d' tnrmoon with a view TO infiucncing Y
lt'rIool. which was due to open after
tt.u: ,ic-"d since last Friday. First prices
.' lj9"r"onl Indicated very steady mar
ct hul when tine cables containing the
rcv. of N" Southwestern rains reached
other side they caused a further break.
Ivan n the opening of the New York mar
l.' the brokers for the bull crowd gave
.'r,nurG- support and took thousands
&. nlc, around top figures There was
>g,h - steady outpour of long and short
,t'ou however. that the offerings soon
Id urpn ir, o. and sharp break followed.
rle weekly weather report al noon gave
t'e bulls little respite. but the rally was
's"hIc. extending only to points from
~" pottom. In the late trading there were
Hr'icr reports of rains. and liquidation
,lutinucd up TO the close.
II may now be stated with accuracy that
'l' leNa- drought has been thoroughly
.,ohen The southern portions of the
STATE are still somewhat dry. but indications
80 for rain in that section within the ne Il
Day or so. Heavy precipitation was re-
por'nd from all over northern. central and
western Texas. with Fort Smith, Dallas
l~ni>on. Sherman. Waxahachie. Dublin
..'.d other points reporting rain OF half an
.a'h TO three inches. The Oklahoma drough,
$50 has been thoroughly broken and TEN.
psratures are lower over the whole South
N"-t.
The market has now broken about 100
u'ints from the high level Of a week age
AT Monday. and in view Of the bullish
character of the Government report some
r"lction might be reasonably expected.
10 looks. however. as II the technical posi-
ton instead Of getting stronger as a result
of In huA hnna tt,k
weaker, a. great many contracts have
heen released and much cotton has passed
nto weaker hands. II is also believed tina,
ONE Of the big interests that have beer
huyinR to support the market would bs
.iad to let go on a moderate bulge and
hat they will surely sell IL the slump ex,
ends further.
Futures closed weak, with prices 80 to
.a points lower. Estimated sales. GOV. 90,
h,lcs Prices as follows.