The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-06-16
SELLING ON RAINS
PUTS COTTON DOWN
Bearish Feeling Produced by
Partial Relief to East
ern Belt Drought. o.. .
LONGS LIQUIDATING JULY
Pressure on Near Months Causes
outside Bulls to Let
Go Holdings.
LONGS LIQUIDATING JULY
cotton states weather.

r., North carolina. local thunder showers
,oAsv. cooler tonight; unsettled to-
n,,,ow probably showers in east portion;
,noo.rat. shifting winds. becoming north
ard northeast.
.,,aer, today. fair tomorrow. except
.sov.rs and cooler near the coast. light to
r,oders o shifting winas
ro- Georgia, local thunder showers to-
,.v ,yccpt fair In central and southwest
,,or,ions generally fair tomorrow: cooler
a northeast portion. light shIftins winds.
rof Alabama. local thunder showers to-
a.y and probably TO morrow. somewhat
cooler 20 morrow. iishi to moderate shifting
Winds
ror Mississippi local thunder showers TO-
S,y AMI probably tomorrow; cooler to-
n,rrov 10 south portion. light to moderate
~lnds, becoming north
rct Louisiana. local thunder showers 10
dsy. FAR tomorrow IN west portion
,hor.r, and cooler IN east portion. lisht
"a r,oSsrats Winds becoming north.
For eastern Texas showers to-day; cooler
a. ,h. Interior, generally fair tomorrow.
, .,lth vinds on tho coast,
ror western Texas. showers to-day; cooler
IN extreme west portion, fair o-morrow.
somewhat warmer
Por pkiahoms. thunder showers and cooler
,oday. probably fair and warmer to-
morrow
yor Arkansas thunder shows.s and cooler
NJ DAY; PROBABLY fair tomorrow.
psappointing cables and moro favor
shls weather caused further liquidation OF
short selling In cotton yesterday. and
irlces suffered net loss or about ~
ufs POINTS The decline was accompanied
w considerable irreEularty, but the I'M
asrtone was generally easier and bearish
teeling predomnated. There was con-
siderable liquidation OF near months, with
July at one tina showing a loss OF 20
points.
I, looks a. II there were a good many
outside longs in July who had bought
this option expecting II to show "A big ad-
ance such as occurred In March and
May. In the case of these two options
however. there was large outside short
tG.rN and A concentrated long interest.
Il now looks as " there was rather
large outside long interest in July. while
ihs leading spot interests arc believed to
be short and they are expected TO deliver
large part of the local stock on July.
Unless the smaller bulls get out before
notice day IL Ia thought that considerable
louidation will be forced by the Issuance
q notices.
The chief cause OF the weakness OF the
market yesterday was the report OF bene-
fetal although scattered precipitation III
the Caroiinas, Georgia, south Alabama and
south Mississippi. Some showers also were
reported from south Arkansas. The re-
port Of the New Orleans TSmes-Picdyunt
While somewhat bullish was rather mildly
o. The report gave no condition figures
but stated that tho crop was spotted ano
lan and exposed to danger from fros,
and weevils, which were appearing In un'
usual numbers although farmers were
making strong efforts to fight the pest.
Tho weekly weather report TO be issued
a. noon to-day 10 expected TO make very
favorable showing, and part Of tho sell
ing has been based on this expectation
The chief point IN favor OF the market
3ust now Ia its liquidated condition. for
while a great many traders are bullisf
for ultimate results there Is largo pro
portion looking for temporarily lower
prices Tho only weak long interest, ap
narsntly, Is in tho July option.
Futures closed barely steady. TO II
points lower.