Evening star. [volume] (Washington, D.C.) 1854-1972, 1913-11-09
NEW ORLEANS.

NEW ORLEANS. November S-To-
day session in the cotton market was
active and excited. Prices displayed
marked weakness. the most active months
breaking almost 81 bale under yester-
days close. The principal element of
Weakness was the census bureau report
% ginning Of s.sSo,913 bales up TO No
eenaher 1. This was 100000 bales larger
than generally expected
Another cause for the selling was fears
Of unfavorable Mexican development
over sunday. The selling Of the morn
iug appeared to be about equally divided
between the two accounts. The market
opened quiet and steady at "A decline of
IL to 10 points the census report is
sued five minutes before the opening.
Gables were not as high as due, but the
census report overshadowed all other in
HuenceS. Longs were heavy buyers.
Their purchases caused a reaction up
ward OF about 10 points, but later selling
became heavier.
Longs liquidated in volume and bears
pressed their advantage The most active
months went to level IS to 80 points
down. For while the market displayed
decided weakness, but toward the close
shorts took profits and their demand gave
the market a better tone. The close was
steady at net loss of 30 to "a points.
opot cotton quiet 3-t6 Off Middling,
10 I-l6 Sales on the spot, $50 bales; to
arrive, 10 Cotton futures close: No
Veinber. 1905; December, 1918: January
lois; March, l3.2o; May. 1892; July 1884
the net results of the weeks trading i'm
the cotton market were a loss of Al to 55
points. The high prices were made on
Wednesday and the low prices on Satur-
day. At the highest the trading months
We're . to 10 points lower than last weeks
close; at the lowest they were 30 to "a
points under. The range was A. To Is
points. The decline of the week end WAS
materially increased by the census report
showing that S,S;o,9l3 bales of cototon
hngp civ,
against s,s6s.62. year ago at the same
Tune and 9giO..O., two years ago. These
hgures We're about 1"00O bales larger
than generally expected and 100000 bales
iarger than expected by the bulls Heavy
selling for both accounts followed their
publication. Coupled with the fear of
now the European trade would take the
ShnihS returns was the fear of unfavor-
aoie developments over Sunday i'm the
Mexican situation. On these features a
great deal OF long cotton was iiuuidated
al the last moment
The trade has been watching Mexico
win growing nervousness and OF late
bears have been increasingly pessimistic
about the chances of intervention nv the
United states and effect such a step
would have on the markets OF the world
Ia the early part of the week the dis
position on both sides was to curtaiI
operations IN view OF the pending ginners'
report. The advantage was given to the
bears side by several large crop esti-
mates, the largest putting the yield at
ia..j4o.Uo bales. This caused much short
seiang, but did not impress the bull side
- any great extent. In the SPOT depart
nent prices lost o-16 of cent middling
closing at t. ZIG against l3s4 last week.
ana l2's this week last year. Sales on the
spo, amounted 10 5000 bales. against
<.3ol last week and 59s5 this week last
year sales TO arrive amounted 10 s. 291
bales. against 1855 last week ana II 600
this week last year.