Evening star. [volume] (Washington, D.C.) 1854-1972, 1913-06-29
COTTON MARKETS.
NEW YORK.

NEW YORK. June 2s-The feature ir
the cotton market today was the strength
Of near months. which resulted from q
scattering demand in the absence OF
prompt sellers. Later deliveries respond
ed very slightly to the advances in Jul,
and the market closed steady at net gair
of Is points on the near positions, blu,
only to points net higher on August
and the new crop. The market opened
steady at an advance of 3 to 5 points or
old crop deliveries, while the new croE
was point lower in sympathy with
somewhat disappointing cables and ia
vorable weather reports. General bust
ness was very quiet and the appearance
of few July buying orders In the hands
or local spots or Liverpool houses started
some scattered covering of that position
There were very few sellers around the
ring. and it required only a few transac.
tons to send prices sharply higher. Mos,
OF the buying orders seemed to come
from Wall street sources. Later deliver
les were evidently held back by favor
able view Of crop conditions and sold
only 5 or 4. points above the CLOSING
figures of last night Reports that the
gulf storm was working inland. causing
rain in the southwest, were considered .
favorable feature of the days weather
news, and the weekly review of q Mem.
phis authority said that the past week
had been favorable to the development OF
the crop.
-~.- NEW ORLEANS.
NEW ORLEANS, June 2s.-The week.
end session in the cotton market was
quiet. but the tone held steady. Fairly
good rains were noted in Texas and the
promise seemed to be for an increase In
the rainfall over the entire belt for Sun
day. The most that bearish influence did
was to encourage liquidation Of long cot
ton.
The opening was steady, 2 points I'D ia
points down, compared with the last
prices of yesterday On the poor cables
and the improvement in weather condi-
tons over the cotton region the market
went 3 to points under yesterday
close. This was the low. of the day Re-
ports from Arkansas that the drought In
that state was becoming serious, the de-
tailed weather reports. showing less rain
IN the belt. as whole, than expected and
accounts of the increase Of the boil wee
vii, particularly in the Mississippi delta
checked offerings and stimulated a mod.
crate volume of buying. which put prices
to points over yesterdays final fg-
ures The market closed steady, un-
changed to points up. net.
spot cotton quiet. unchanged. Middling.
12ss. Sales on the spot, ninety-six bales
to arrive, twenty-one
Cotton futures unchanged to points up
net January close. 1i.60; March close,
] 100; June close nominal: July, Il -
close; August close. 12.17: September
close. III; October, 1850: December
close 1l.57.
me net results OF the weeks trading
in the cotton market were an advance Of
to IA points on the most active months
The high prices were made Wednesday
and the low prices Monday. At the high
est the trading months were to p points
over last weeks close; at the lowest they
were to l. points under. The range
was 10 to % points.
The market had a steady undertone
throughout the week, chiefly because of
reports of droughty conditions in several
important parts of the belt, particularly
Arkansas, Louisiana and Mississippi.
Georgia and Alabama also sent in COM
plants of lack of moisture. Bullish senti-
ment appeared to be on the increase on
the claim that the crop was not doing as
well as II should. The pending bureau re-
ports on condition and acreage had lit
tie effect one way or the other. The
strength of the July position and the
ready taking up of tenders In both of
the American markets served to stimu-
late buying to some extent and to prevent
short selling. AT times shorts were ner-
vous over reports that English traders
We're heavy buyers of the new crop
months i'm the markets on this side of the
water.
In the spot department prices advanced
1-I6 of cent, middling closing at 12ss
against II GIG last week and 12A this
week last year. Sales on the spot
amounted to TO bales. against TAO last
week and $50 this week last year; sales
| to arrive amounted to .322 bales, against
| 1.l5S last week and 1908 this week last