Evening star. [volume] (Washington, D.C.) 1854-1972, 1913-08-17
COTTON MARKETS.
NEW YORK.

NEW YORK, August 1.-THE cotton
market was active today, and prices
terdays buying movement with active
months reaching the highest levers
touched since the rally following the
publication of the last government re.
port. Realizing for over the week end
or on private reports of more rain In
Oklahoma than suggested by the OFF,
cial weather map caused reactions
after an early advance, but offerings
were well enough taken to give the
market steady undertone. and last
prices were to S points net higher.
Higher Liverpool cables, encouraging
reviews Of the domestic dry goods stu
alton and the more bullish sentiment
created by yesterdays advance result
ed in an opening Improvement OF from
to 6 points. There were lot OF over
night buying orders around the ring.
and prices soon sold 10 to II points net
higher on bull support combined with
a continued active demand from shorts.
Offerings became heavier around 11.25
for October, or about 80 points up from
the recent low level. and the market
later eased off several points from the
best, with sellers encouraged by an idea
that the short interest has been consid-
erably reduced. and lower temperatures
might be followed by improved crop &C
counts from Oklahoma The western
belt forecast. however, was for gen.
orally fair weather tonight and tomor-
row, ana InlS view OF tH0 SItudtlOH WIS
in line with predictions of local map
readers. who said they saw no promise
Of any immediate change in southwestern
conditions. Private cables from Liver
pool reported sentiment more bullish
there with the trade calling moderately.
and with professional operators short of
the market Wall street and houses
with southern connections were heavy
sellers on the advance here, and 1t seemed
to be the general feeling that the bulk
- tha nd oa ~
shorts, who are supposed to have been
rendered uneasy by continued dry weather
In the southwest, fears OF an OversOid
market and the fact that southern hedge
selling has not yet shown itself on any
important scale.
NEW ORLEANS.
NEW ORLEANS. August 16.-The
cotton market today closed with q
very steady feeling, as the result OF
continued droughty conditions in the
western belt. The official reports made
light Of the Oklahoma rainfall and the
forecast promised generally fair
weather for the western half of the
cotton belt, which destroyed hope that
the drought would be broken over Sun
At the opening the tone was steady,
and prices were l point up to / point
off. Cables were much higher than due,
but were Offset by reports Of rain. The
weather map noted rain at only three
Texas. When the trade became aware
that private reports Of moisture were
NOT being confirmed buying increased.
Liyerpool's bul1ish stand caused COM
ment, and purchases Tor long account
session Of the week. Scalpers were
1uick TO take profits. The close was
steady. points up to on. net.
SPOT cotton-Firm. LIS up: middling.
1ef-1s. Sales on the spot, 2S5 bales; to
af Cotton futures close: August, 1853;
September. 112s; October. Ills; De-
esmber: ill; January l1.17; March,
The net change in price OF cotton this
70 The extent OF II to IA points. The
h;eh prices of the week were made on
the closing session; the low prices were
made Thursday At the highest the
trade months were Is to ,a po,nss t Iwsr
,asr T 10 to II points under The range
OF prices was % to 30 points
throughout the week the market made
nervous and narrow fluctuations aDove
and below the level of last week .ciose,
Rears were continually encouraged by
ranorts of rains here and there In Texas
and Oklahoma. and the hope aiWays was
before them that the long drousnt IN
those two states was about TO De broken.
The market always recovoIeu, s,,..r
and toward the end Of the week worxeo
higher than ever on reports sny 49,. .t i've,
no effectual relief actually had Deen Nxsn
the drought areas in the west. On the
week end the shorts were nervous ana an "a.
clined to cover and there was more aus
position on the part Of the trace e In Gen en-,
| eral to buy for long account liza" Az
Trade circulars at the close OF t hs
| week summed up the crop situa.,u.t ~
stating that conditions In the wes tha,
belt were becoming serious anu sno'