The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-06-17
COTTON STEADY ON
SUPPORT BY BULLS
More General Rains Fail to
Cause Weakness in
the Market.
JULY LONGS LIQUIDATING
Scattered Outside Commitments
in This Month Thought
to Be Large.
JULY LONGS LIQUIDATING
Cotton States weathev.

rSth Carolina, fair to-day. except LEGAL
.so,,r. In extreme west portion; fair to-
rorrov warmer In the Interior: moderate
Winds mostly northeast.
south Carolina generally fair In north,
~. showers in south portion day; fair
,omorrow. except showers near the coast;
,,od.rlts northeast and east winds.
G.orgia fair. local showers In south por-
lion to-day and probably to-morrow; mod
crate east winds
Floriia local thunder showers to-day and
probaby tomorrow; light to moderate shift-
Ing winds.
Alabama and Mississippi. local thunder
,h,yers to-day; generally fair ts-morrow;
usb. north and northeast winds.
louisiana unsettled to-day, probably local
thunder showers; generally fair tomorrow:
urht shifting winds
Ea,.rn Texas. partly cloudy to-day, prob
.Aly local showers in northeast portion; fair
,o.morrow. light to moderate south winds
On the coast.
western Texas, fair. warmer to-day; fair
tomorrow
oklahoma fair to-day ana Tomorrow:
slightly warmer tomorrow.
Arkansas unsettled today; fair and
uarmer tomorrow,
tennessee. unsettled to-day; fair and
vsru.r to-morrow.
Cotton showed q very steady tone yes
tsrday, considering the generally favor
sbls character OF the news. Copious but
BATTERED showers were reported from tho
rvo Carolinas. Georgia and Alabama.
with light precipitation in Arkansas and
numerous scattered showers ranging from
on.-tenth of an inch to more than two
inches In central and north Texas and
southern Oklahoma. The trading was
lsrgerly professional and the range OF
prices was narrow. The close. however.
was barely steady, at an advance of about
to points In the new crop months and
decline of points in the old. Liquida-
ton OF July was again in evidence and
there seems to be a growing impression
that the long interest in this position Is
rather too large for comfort
In the new crop months. however. the
market is fairly we'll evened up. although
continued pressure might disclose more
weakness than is now apparent Tho i'm
provement In the crop outlook. however,
has caused a good deal of unloading. with
most firms sellers on balance for the last
three or four dayA
There were times yesterday when it
looked as II the market wanted to 20
lower" Certain bull interests, however,
came 10 the rescue and, through the
medium OF well distributed buying orders
impaired an appearance of steadiness that
was largely artificial.
1t is conceded by the trade that a very
large crop is needed and thus far there IS
nothing to show that one OF adequate pro-
portions will be produced. At the same
time the outlook is improving and the
impossible might happen. This Is the
reason why liquidation has predomnated
recently 1t is expected that the next
july report will show condition above
rs and possibly as high as so. although
that would be an abnormal Improvement.
one wager WAS reported yesterday to the
effect that the July bureau would make
the condition 70 and another was promptly
forthcoming 90 the effect that II the con-
dition WAS 70 1t would be the highest OF
the season.
Some further liquidation appears to be
generally expected, although trade in
terests seem TO be willing to buy freely at
slightly lower level.
Futures closed barely steady. I point
up on new crop months, s points down on