The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-06-04
FURTHER REACTION
IN COTTON PRICES
Considerable 1rregularity, With
Market Closing at
Net Loss.
ATTITUDE OF CONSUMERS
Spinncrs Almost without Pro-
lection Against New Sea-
sons Needs.
ATTITUDE OF CONSUMERS
Cotton states weather

For No-th Carolina. fair to-day and prob
,oly tomorrow: light to moderate southeast
. SOUTH winds
For south Carolina, fair to-day ana to-
morrow. light to moderate east to south
EAST winds.
FOR Georgia thunder showers to-day and
probably tomorrow; moderate east TO south
east winds
For Alabama, local thundersto ms to-day
and probably tomorrow; moderate south
Winds
For Mississippi, partly cloudy to-day; un-
.att.td tomorrow. probably showers: light
, moderate south winds
For louisiana. partly cloudy to-day and
tomorrow, probably showers Tomorrow In
east portion. light to moderate south winds
For eastern Texas. generally fair to-day
and tomorrow. moderate south winds
For western Texas. fair to-day aud to-
morrow
For oklahoma. warmer TO day; fair to-
morrow
For Arkansas, fair. continued warm, to-
GAY anu probably tomorrow.
There WAS further reaction In cotton
yesterday, and while prices recovered
rather quickly from the low point of the
opening there was enough profit taking
by local sca.pcrs. combined with short SELL
Ing OF some Of the leading floor traders
10 cause a setback to the level of the OPEN
ing There Is a strong reactionary senti-
nent on the exchange, as most traders
figure that the 10 cent level discounts q
great deal at this season OF the year and
. that any change that comes in weather
conditions must necessarily be for the
better
few ght scattered showers were re-
ported IN Texas and Oklahoma, but the
IA N n -
settled one Of the serious features Is the
continued drought In the Eastern belt. as
pre- pitatlOn was confined TO moderate
scattered showers In South Carolina
Georgia and Alabama. The temperatures
range around the 100 mark for the maxi
mum. and cotton undoubtedly has made
little progress In the last week or so.
As the drought IN the Eastern belt has
been the most protracted OF Its kind for
the spriug Of the year II Is generally be-
iieved that early relief will soon come and
that prospects as u result will DO regarded
as brilliant.
Although most cotton traders Just now
appear to be more concerned with the In
cdenials OF the situation than the broad
factors which Will govern the market ulti-
matsly the conservative element OF the
cotton trade feels genuine alarm over the
prospects for the crop. Theodore III. Price
vao Is now in Liverpool, cabied as follows
after the publication OF the bureau report
Of Monday Europe aghast Mt situation
suggested by bureau. No long Interest
: Mills poorly protected. Further advance
will encounter little resistance" While
MS expression OF opinion may not be
unanimously accepted as a market fore
ast It undoubtedly describes the feeling
among cotton consumers.
For instance. II Is known that spinners
have done practically nothing to protect
themselves against their requirements for
tho coming seasons business. The ad-
yance OF $50 points In the new crop
months took them hv surprise and they
are likely TO take advantage OF moderate
..eactons from the present level to make
hedge purchases snd those who do not
probably will be caught in the usual STAN
pede OF a bull campaign at higher level
tn Zee. that splnners still have to buy
their requirements for the new season Is
probably the most bullish feature OF the
present situation.
Futures closed barely steady, s to II