The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-07-01
COTTON PRICES SAG
ON LOCAL SELLING
Bureau Is Expected TO Make
Condition of the Crop
About 20.
PRESENT POSITION SOUND
Current Level Believed to Rep
resent Economies Of
situation.
PRESENT POSITION SOUND

- Nl-A'uil. iIir, thEhtN warmer to-day
blowers t,-morro,; light TO moderate east
and sou. meas; Winds.
FOR Aprtu carolina, FAIR to. day; local
sl1uer- io.motrov. moderate cast winds
Tor south C1rn.lus. Georgia. Florida, Ala
olma ana NssissIprL local thunder showers
To-day and pronlu', tomorrow. light to
moderate .niftns winds.
For Louisiana. generally fair IN west. local
thunder showers ln east portion to-day and
probably tomorrow. llsht 20 moderate south
winds,
For eastern Texas generally fair. con.
uuu,l warm today aud 90 morrow. except
thunder -hover. and so'reWhat cooler To-
light or to morrow iu north portion, mod
crate south winds.
For western TcNis thunder showers TO.
day IN north and west. fair In southeast
portion. cooler IN north portion. probably
tair tomorrow.
FOR oklahoma showers and cooler to-day:
flir tomorrow.
For Arkansas. thunder showers and cooler
~ dly or tonight. unsettled tomorrow.
FOR Tennessee. local thunder showers to.
4sy and probably tomorrow somewhat
,oOlN
For Kentucky. local thunder showers to-
csy auI probably tomorrow
with tho exception OF little squirt OF
strcng ia and activity around the opening
cotton was generally easier yesterday
and prices worked off TO "A moderate net
ioss FOR the day Prices were sharply
higher at the opening OF the Liverpool
market ON buying induced by the condi-
lion report OF the journal OF Commerce,
n showing gain Of only I of ! point for
the month making the condition 1S.e.
against 7S,2 last month. This was lost
on tho publication Of the Giles report,
making the condition ~, against 1872 for
s,4Il - uf.I : ut avah
~ May Cordil also sent bearish
urinary ~ crop conditions and estimated
IN acreage increase of about . per cent.
The average Of the other private reports
points To- = reduction Of about 10 per
cent
There have been SIX or seven private
reports which show an average condition
70 little above ~. The average guess
~ I04 members Of the Cotton Exchange.
compiled yesterday, forecasted a condi-
ton OF Isl Many people IN the trade.
however, expect a condition around 80
and practically no decrease IN acreage.
Trading yesterday Was devoted largely
20 evening up before the bureau report.
which W ] be published at noon to-day. This
Wll give the condition ompared with
743 last month and SIS last year A
condition ~ - aud an acreage reduction
Of . per cent would indicate a loss OF
about sOo,oOo bales, compared with last
year. and would bo construed by some
as indicating crop Of less than 10000
900 bales such figure OF course would
ne predicated on crop conditions hereafter
~ about the same type AS existed toward
'he end Of last season.
The. vas some discussion Of the Lever
Hii which pass a the House yesterday.
Members of the exchange AR. rather con-
FUSED as to its puri ort. rs SON" paragraphs
appear rather drastic. The weekly Weath
4 IL.
favorable Early planted cotton was said
70 b. doing well, but the late planted
cotton which constitutes II larger proper
lion Of the crop than usual. was said to
be backward and suffering from the in
tense heat and drought
No matter what the bureau to-day may
snow II is the general opinion of ey-
perenced cotton men that the cotton mar
ket NJ present represents the economics
of the situation. Just what part
psychology viii play hereafter is depend-
mt on crop conditions and the construc-
Ion placed on them. Ssvera. things are
certain, Liquidation during June has
been general and only one or two long
accounts of Importance have withstood
'he declin" Scattered long commitments
'7e greatly reduced crop Improvement
77s been noted and taken into full con-
Iteration. There has been general cog
".znn'c NJ pessimstic trade reports from
Europe aud IN this country.
In spite ~ this, however. the market
rnds around l2is cents for the new crop
.'onth-, with tine bureau report to-day ex-
ne'ted TO he belrish. Unless the crop
snon'd prove TO be bumper which seems
out or All reasonable calculation under
"Ns'ing coudit ous, the present level OF
values cannot be regarded as high, espe-
'ia'S when one considers the depleted
rose rves of srinners and the prices that
a'" being paid for spot cotton.
FUTURES closed steady, : to IL points
over.