Evening star. [volume] (Washington, D.C.) 1854-1972, 1913-09-14
COTTON MARKETS.
NEW YORK.

NEW YORK. September 13-The
buying movement which developed in
the cotton market yesterday afternoon
was In evidence again during this morn
ing's trading. Reports Of too much ran
In the western and central belts and gulf
storm apprehension seemed to account
for part OF the demand, while the ad-
vance was also encouraged by reports of
better demand from the trade, and the
publication of buliish opinions by one Of
the large local spot cotton houses. Offer
ings increased on an advance of little
over 81 from the low level of yesterday.
and the market reacted to 10 points
in the late trad ng. with the close bare
~ steady at a net advance of 10 to IA
points Houses with Liverpool connec-
tons we're sellers on the late decline.
The market opened steady at un-
changed prices to an advance of 3
points The cables were about as due
but there were q good many overnight
buying orders around the local ring. and
higher. Realiz ng became more of a
factor at this level. while there was
also selling for reaction. but AFTER
some little irreguiariy the advance con-
% points above the closing figures Of
asst night. Reports that very heavy
general rams had fallen in Texas, Arkan-
sas and Louisiana probaly contributed to
the early advance. and private wires
were received from some points In Ar
kansas claiming that damage had been
done to open cotton. The weather bu-
reau reported a disturbance just south
Oh Porto Rico, and said that the Dis
turbance noted for the past two days
inc: eased strength.
Wide fluctuations were brought about
In the cotton market this week, upturns
being caused by the more favorable news
from Washington regarding legislation
against future trading and the downward
movements by the heavy rains in the
western half of the belt, which effectually
put an end to the drought and caused
an advance of SO to SO points. The high
prices were made Tuesday and the low
prices Friday. At the highest the trading
months were e. to IS points over last
weeks close; at the lowest they were l
to Z points over. The range was 81 to 81
points.
The news from Washington was eager
ly read by the trade and 1t was of a tenor
to cause much buying, first and last.
Early in the week the agreement that the
proposed tax on futures, il passed. should
not go into effect for year was con-
sidered to be very bullish feature.
Later the market was again stimulated
upward by the attempt to substitute mar
ket reforms for the tax measures. This
attempt caused a steadier week end than
would otherwise have been seen. Re-
ports from Texas and Oklahoma, especi-
ally the former, were most encouraging.
compared with what have been coming
from that section of the belt for long
time past. These reports were at all
times the source Of much short selling.
although Offset to some extent by the
bullish claim that the rains were pre-
venting picking and injuring the grade of
cotton.
In the spot demand prices advanced
SIG, middling closing at II 1915. against
LIS last week and IL TIC this week last
year. Sales on the spot amounted to
?,725 bales. against 1868 last week and
80 this week last year; sales to arrive
totaaed SOP bales. against $50 last week
and $50 this week last year.