The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-06-20
General Liquidation Results
From Breaks in Eastern
Belt Drought.
SplNNERS NOT PROTECTED
Buying by Trade Interests
Likely to Appear on
Further Decline.
Cotton state. Weather.

- \,rfh carolina, generally fair to-day
.,a Tomorrow, with moderate temperature:
rsb. ~ moderate west winds, becoming
variable.
FOR south Carolina and Georgia. gener-
.ry fair to-day and tomorrow; light west
Nlrds becoming variable.
FOR Nahaps, Mississippi and Louisiana
,.oaraWy f.ir to-day and tomorrow; light
10 moderate south winds on the coast.
for Texas fair to-day and tomorrow:
u,,,e change In temperature; moderate
south nds on tho coast.
FOR oklahoma, fair; continued warm to-
s.v and probably tomorrow.
For Arkansas, generally fair and con-
ususd warm to-day and tomorrow.
Heavy rains in Georgia and portions
o. the Carolnas and Alabama caused
.o-sdcrablc liquidation in cotton yester-
day and prices were forced down about
IA to Is points below Thursdays closing.
liquidation Of a scattered character con-
tnued throughout the day and the bull
suprort which has been feature on re-
rent declines, was absent yesterday. Ring
traders who have been quite bullish on
The ultimate outlook dumped over their
holdings with a view to standing aside
ard letting the decline take its course for
IN. time being. About the only buyers
were shorts. with a scattered demand
from eplnncrs
The rains reported yesterday are ad-
mlted 10 have effectually broken the
drought in Georgia, and with the excep-
ton Of isolated sections in the Carolinas
there Ia no portion OF the Eastern belt
row suffering from lack OF rain. The
weekly weather report next Tuesday
should make a most favorable showing.
As result OF the breaking OF the East.
srn belt drought sentiment. instead OF he.
ing eonservatively bullish for long pull
has a bearlsh preponderance for the time
being II is generally expected that the
bureau condition report to he issued or
July l will show an Improvement of &c
points making the condition 70 or bet
ter, as compared with 743 on June
and SIS on July l OF last year. The
ten year average for July is so.
A condition OF 10 would by no mean,
sc sure indication of a large crop, a,
nearly every year which started out will
late condition has showed marked i'm
proyement during June. In 1908, for ex
smple. the crop showed an improvement
OF . points. and by September I the tota
improvement was matter OF II points
The lateness of the crop was not takei
into consideration. however. and the re
suit was ore of the shortest yields pc
acre on record. Advices received yester
day predicted a big gain in condition, es
pecislly for Texas. Arkansas. Oklahoma
and Georgia.
One strong feature OF the situation
however, is contained in the fact thai
splnners are almost entirely without pro
lection against their requirements for thu
new season and are likely to become buy
ers on a scale down from the present level
The short has little or no protection, a.
the sales now made are not against &C
tusl cotton. but merely represent the bear
ish proclivities of the seller. One or tw'
firms are believed to have fairly larg
lines of long cotton. but in the past the!
have shown themselves amply able 4
take care OF their commitments The small
fry are practically out OF the market
with the exception OF those who are play
ing the short side for a turn.
The week end figures were without sig
nlheance. The into sight for the weel
was placed at $1,000 bales, against Al,
600 last year. Spinners' takings wer
10000. against eos. 900 last year.
Futures closed barely steady, Is to 1
points lower,