New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-09-28
COTTON STRONG.
GAINING RAPIDLY
Sensational Jump in Market
Caused by Southern Spot and
New Crop Report.

Notwithstanding the sensational
rapidly and extent of recent advances,
the cotton market was even more ac-
tive and excited to-day, with prices
showing further big gains on & renewal
of bull support and more or less gem
cral buying. January contracts sold
up to 1884 in the late trading, or fully
$500 a bale above the closing price Of
Saturday, and not less than $3.50 a
bale above the low level reached on
the decline of last July. Closing prices
were strong and within 2 or 3 points
Of the best at a net gain Of from 30 TO
Al points for the day. The continued
bullish average of Southern spot and
crop news, a frmer Liverpool market,
reports of an increasingly active de-
mand from domestic spinners and re-
iterated predictions of very low condi-
ton figures between now and the end
Of the week were among the factors
on the advance, while the market was
also Influenced by the course Of the
Gulf storm, which was reported NOV
ing northward from south of the west
coast Of Cuba and the continued Alb
serce Of any important hedge selling
from the South.
Private cables attributed sharp ad-
vance in Liverpool TO small offerings,
and the market there may also have
been affected by the sentimental effect
OF the Allied victories in France. The
market here opened firm at an advance
of Is 10 20 points in sympathy with the
cables. There was naturally heavy
realizing. but before there was any ma
terial check to the upward movement
active months were selling some 80 TO
40 points above Saturdays closing fig
ures. On the approach 10 and at the
1919 -cent level for January profit TAX
ing was extremely heavy and reac-
lions Of s or 10 points followed. but Of.
ferngs were so well absorbed that
early sellers for profits began 10 re-
place their cotton and the market
reached the best point of the day in
the late trading, when October sold at
1913, December at 1898 and March at
1881.
The Southern hedge selling which
was rather more active on Saturday.
was not 50 much in evidence to-day. II
seemed that from one source or an
other offerings Of spot cotton in the
South are readily absorbed, with the ad-
vances bringing little or no pressure
against the future markets. 1t is an
ticipated that October notices will be
placed in circulation here this morn
ing. but IL seemed the general impress
sion yesterday that they would be
readily taken care of al the prevailing
late-month premiums. II was rumored
during the day that a prominent Chi
cago authority made the condition OF
the crop 500 per cent, comparing with
69.s per cent month ago. and ten
year official average Of 6S.3 per cent
for September IS. The continued ten
deney 10 reduce estimates OF the crop
combined with the hrmness Of the mar
kets for both spots and futures, ~
said to be disturbing domestic sp'nners,
and the demand here yesterday was
ssid TO include considerable buying Tor
New England mill account. Exports
for the day were 29.774 bales, making
46i.796 so far this season. Southern
spot markets, as officially reported,
we're &c to &C higher, with Houston
reporting sales of over 1000 bales Oh
the basis OF Ills for middling. while
thers wsre sales OF 900 balas IN the