New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-11-13
COTTON EXCHANGE
OPENING NEAR
Official Announcement Expected
This Morning - Southern
Spots Generally Higher.

A special meeting of the managers
Of the Cotton Exchange will be held
II 1880 o'clock this morning to con-
slider the date of reopening. 1t had
been generally expected that the date
would be fixed during the day, but
there appeared 70 be some delay in
hearing from the attorneys in charge
Of the legal phases of the agreements
with the banking interests who are
financing he corporation operations,
ana it was not until late that the an
rcuncement of the special meeting
vas made. Officers Of the exchange
would make no definite statement, but
j, was generally understood that the
way had been cleared for a resump-
iion Of trading on Monday. Advices
ntsiyed here from New Orleans stated
hat the market there was ready TO
reopen on Monday should New York
take such action, and as Liverpool has
gradually been removing the restric-
tons on trading, II is expected that
all three of the large futures markets
wiz be in operation next week, for
The first time since the outbreak of
ite war.
The removal of the restriction
against new selling in the Liverpool
market was followed by q decline Of
81. points in May-June contracts there
ta.s morning, or 70 within half point
4 fixed minimum Of 4.25I. This break
sss partly attributed by local spot
psople to sales of hedges in the Eng
Isl market against purchases Of spot
:otton in the Southwest, although, IN
view Of the higher ocean freight rates
and the quotations now prevailing at
Houston and Galveston, there would
seem to have been little margin on
such operations. The English spot
market was easier and points lower,
but fair business was reported, ana
there was nothing in the Southern
news 70 indicate any general weak
hess. The market as officially quoted
az New Orleans was Lice lower, but
0.ler markets were unchanged 10
3-lee higher, with Houston relatively
i'm, while both Memphis and New Or
leans reported a good spot demand,
particularly for lower grades, when
are said 10 be Of good color and staple.
New Orleans also reported that 5000
bales had been purchased by Germany,
although great difficulty is obviously
experienced in securing transportation
icI direct shipments to Bremen, where
the price is high enough 70 attract
cotton under anything but the most
risky conditions.
Trading in December contracts on
tte curb here was again comparatively
quiet al about 7.53c to 7.55c. Exports
were 1862 bales, making o24,ol4 so
i~l this season, against 3,243,oZo IasI
year.
Local spot market nominal. South
erL spot markets: Galveston, l-loc
higher. al 74c; sales, 2,ll3 bales;
New Orleans, Lice lower, at f7sc;
sales, 1910; Mobile. Ssc higher, at
he; sales, %; savannah, steady, AT
re; sales, 1928; Norfolk, 1se high-
er, al 7i2c; sales, 81; Augusta, sc
higher. AZ 75sc; sales, 1884; Mem
pbis, steady. &c; sales, 5000; ST.
Louis. quiet. 7Ac; sales, 9; Hous-
ION. 3-l6c higher, at &c; sales z'4Il'
Little Rock, quiet, 61sc.-o~o Go.
Liverpool. Nov. 12.-COTION-Sp0t
quiet; American middling, fair o'65qi
good middhng 4.9Od; middling, 4.oou'
low middling, 3.97d; good ordinary d26
$3.50; ordinary, 2.76d; sales, lO'VOV
bales. including 1900 American, ana
so for speculation and export. ne ne
eupts, 5,s4l bales, including 4'@l-
American. Futures closed quiet
opening. sP D. oips e5!t
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