The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-06-05

sPINNERS BEGIN TO BUY
Cotton states Weather.

f,r Nurth Carolina local showers to-day,
m,,lor. mod"r@te shIf,Ins r,rss mowers to-
..- -ns'n Carolina, local showers "a. law
and probably tomorrow. xocspt generally
tls to-day near tho coast. moderate south
r1s Georgia local showers to-day and
r-n.n'N io-motrow: llsht to moderate
f.t NpJtma ana Mississippi, local show
srs to-day ana probably tomorrow; lisht to
mt.rIHfe winds, mostly south
For Louisiana, generally fair in west iocai
thunder showers ia EAST portion to-day and
probably tomorrow light to moderate south
For eastern Texas. fair to-day and to.
morrow moderate south winds
.fo. western Texas. fair to-day and to-
70. oklahoma and Arkansas. fair, con.
tinoed warm to-day and probably to.mor-
row,
Although there was further downwa I'd
reaction IN cotton yesterday the under
tone az the close appeared much steadler
and 70 looked as II tho three days OF SELL
Ing since tho publication OF the bureau
on Monday had caused pretty general
cleanup Of scattered weak long accounts.
The big lines OF long cotton with one or
Two exceptions. were unloaded at hand
some profits and these interests appeared
TO be waiting for a further break to re-
buy
The weather yesterday was generally
favorable over the belt At least there
we're no damaging rains in Texas and re-
ports OF precipitation were confined TO
showers at a few scattered localities.
Moreover the drought stricken districts
Of the central and eastern belts, with the
exception of the Carolinas, were visited
by beneficial showers Eastern and
fharY IN
badly. and the same Is true OF the Caro-
linas
There were showers ranging from lilo
OF an inch to more than 2 inches al
points In south Georgia, central and
northern Alabama. central and southern
Mississippi and parts OF Arkansas and
Lou siana. Tho weather forecast calls
for generally fair weather In the western
belt, with more showers east OF the
Mississippi River.
With the market supposed TO be heav
lis long 4. seems rather remarkable that
prices cid not break further under sucr
combination OF favorable weather con
dltous. There was good deal OF scat
tered commission house liquidation, a,
the advent OF rains frightened some q
the stubbOrn bulls, who refused to sci
when pr ces were higher. The local pro
fessioual contingent. who have been bear
ish almost TO a man. hammered the mar
ke; IN an effort TO catch stop loss orders
These traders are nearly always inclined
To ignore fundamental factors and oper
ate on the basis OF the technical position
whether they believe the market II
long or short. This selling. however. faile'
70 have much effect after a decline o
nearly so points In the last three days
For the first time since the advance
started there was evidence OF trade buyinf
Yesterday. Spinncrs have become alarmed
oyo- Tin. outlook and as there has beer
an advance I'm the prices OF yarns In tbs
last trN days manufacturers are more
inclined 20 take steps to protect them
selves against the new seasons require
ments The buying for these Interests
yesterday was persistent. but not ag
gressiye Cotton was freely taken as OF
fered. but there was no effort to bid III
market up. II il believed that this buy
ing rover will be greatly increased a
tl.chtly lower prices.
More encouraging reports Are begin
ming to come In from Texas. as brie
period Of sunshine has caused a return
10 optimism over the crop prospect Eek
perienced cotton men. however, are no
hopeful over the Texas outlook In IN
long run
A. one cotton man who knows Texa
conditions pretty thoroughly put II yes
terday Cotton Is not an amphibiou
plant II cannot be expected 10 thrlV
az water lily in the first stages o
II existence and later on perform IN
function Of a cactus" This statemeh
probably had reference to the nkehhoo
NJ disastrous effects from summe
Drought after The plant had been drowhe
out along In the spring.
Futures closed steady. points up o
July to points lower on new GRO
months.