Evening star. [volume] (Washington, D.C.) 1854-1972, 1913-06-15
NEW ORLEANS.

NEW ORLEANS, June 1.-THE week.
end session in the cotton market was sur
prisingly steady after a week OF bull Ope-
raiions Much TO the surprise OF the ring
traders the market made moderate net
advance; they had put out short cotton
on the idea that weekend liquidation
of long contracts would cause at least
a moderate setback. The advance was
all the more surprising because 1t was
made in the face of the most favorable
weather map of the week, while the fore
cast promised fair weather for Sunday
ov.- the entire cotton region. Reports
from the belt were more encouraging
than otherwise. Except for a slight de-
cline around the first call bearish news
had no influence on prices. The opening
was steady, unchanged TO points down,
compared with the close OF Yesterday.
Cables were better than due, but they
were offset by the favorable weather re-
turns and bearish c, op accounts and a
little short selling from short sellers
who looked for a Weekend reaction. At
the lowest the trading months We're or
:; points under Yesterdays c.ose. The
market gradually did better. until late
in the morning it stood TO 10 points
over Yesterdays final figures. The close
was steady at net gain of to points.
Th. advance was gene ally set down to
buying for the account of leading bull in
tercStS.
SPOT cotton-Steady; Lice up; middling
II 7-l6; sales on the spot $50 bales: TO
a
March, 1I.J4: June, lbs nominal; July
I2.i: August, 11.41: September. 1l52;
October 11.1; December l1.42.
Cotton this week closed at a net ad-
vance of IA to Il points. Bulls were in
fairly good control of the market for
the start the low prices being made
Monday, and, at the lowest only a
slight net decline was allowed. the trad
ing months standing unchanged To :
point down, compared with the final
prices of last week The high prices
were made Tuesday, when the tradin =
months were % 10 30 points over last
weeks close. The range of prices was
% TO Sc points. The main bullish in
fuences of the week were the opera :
tIons in the July position and the cold
weather in the cotton belt. Reports of
TOO much rain in a few sections of the
belt early in the week also helped the
long side. .While few people claimed
thai any great Immediate damage had
been done the growing crop by the low
night temperatures, 1t was almost
unanimously conceded that the growth
of the plant was being yetarded To-
ward the end of the week weather con-
tiitlpns were more favorable. Bears
were wary because of their inability
- g. G. good line on the July cam
paigr. The work of the bulls in the
summer months caused considerable
improvement in the spot demand. The
small stocks at United States ports ex-
cited no little comment and caused UNI
easiness among the -norts. Rumors
Were that stocks would still further
shrink as the result of pending for
eign shipments, The only consolation
the bears got out of the gossip and
rumors of the week was the report
that owners of actual cotton in the
south were selling July in New Orleans
and New York against prospective large
shipments to those markets.
In the spot department prices gained
Il OF cent. middling closing a,
u 10 against II ais last week and
1Zl4 this week last year. Sales on the
spot amounted to 1877 bales, agains,
1.SG0 last week and 1913 this week las,
year. Sales to arrive were 1850 bales
agaist 909 and S33.-