New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-10-23
COTTON FLURRIES;
HITS NEW LEVEL
Rallies Lost In Late Trading
January Contracts Lowest
Since Last Crop Report.

The cotton market was nervous AMI
extremely irregular yesterday, an early
decline being followed by sharp rally,
which was partly lost in the lato
trading. January contracts sold off to
1913 during the morning, the lowest
level reached since the last government
crop report. Then they rallied to 1878,
or S1.60 bale, and closed at 1887. The
general list closed steady at q net sd-
vance of to points for the day
There wa. much less liquidation after
the heavy selling OF Thursday, end very
bullish reports from Southern spot
markets helped the rally during the
middle session, but advances seemed TO
meet renewed offerings OF long cotton,
and the tone was very much unsettled
during the entire day.
There were a good many overnight
selling orders around the ring at the
opening. After starting at decline OF
4 to 7 points, active months sold TO y
points under last nights closing fig
ures. The market then steadied on the
favorable Eastern belt forecast follow
ing the heavy rains shown in that sec
ton BY the weather map. When recent
sellers turned to cover they evidently
found comparatively few contracts Of
fering until prices had advanced nearly
80 points from the low level Of the
morning.
A somewhat more optimistic view 81
European conditions probably contrib
uted to this advance, which was also
accompanied By rumors that spinners
were still liking prices and reports tina.
Southern holders were withdrawing OIL
ferings OF spot cotton at the decline.
The buying did not become general,
however, and prices later weakened
under selling which seemed 20 come
from very much the same sources as
the heavy offerings OF Thursday There
was some doubt, however, whether they
represented renewed liquidation or ef-
forts 70 secure better buying basis.
Bullish spot advices from the South
were circulating very freely during the
day. tending to Offset besrish predic-
tions that speculative holders of spot
cotton in the South would liquidate ow-
ing to the break in futures. Southern
spot markets as officially reported were
unchanged to IS points lower, generally
unchanged. Exports for the day were
heavier, reaching 54,85l bales, making
1929, sos for the season to date. The
worlds visible supply of American cot
ton increased 152,354 bales for the
week, against an increase OF 244,335
bales last year, and is now 3,726,572
bales, against 1928 ,461 last year.
The weekly movement figures of the
New York Cotton Exchange are: Port
receipts, 278,1S2 bales, against 24S,s34
last year; overland to mills and Can
ada, 32,9e5, against BAHIA last year;
Southern mill takings (estimated), So
600, against $4,000 last year; gain Of
stocks at interior towns, 77.l06, against
l07 sos last year; brought into sight
for the week, 473,293, against 475,62i
= last year Total crop movement: Port
receipts, 1901 52 (9,75l added Arkansas
Pass), against / ,06s, 467 last year; over
land TO mills and Canada. 1881,
against 1922 last year; Southern mill
takngs, 605,000, against 4S2,SS7 last
year; stock at interior towns in exec IS
of August /, 398,Sl0, against b10,i63
last year; brought into sight thus far
for season, 3,024,4S6, against 2,l3S,l3e
last year.
Il ~