New-York tribune., 1915-09-10
COTTON MOVEMENT
CONTINUES BULLISH
Market Keeps on Rising, Clos
ing 10 Points Above Mon
daV'S Prices.

The spread of bullish sentiment was
reflected in an increasingly active and
more aggressive demand ln the cotton
market yesterday, with prices making
new high ground for the movement.
January deliveries sold up TO 1892, or
33 points above the closing price OF
Wednesday. more than 50 bale above
the low level of last week and nearly ~
a bale above the low price reached on
the break of last July Realizing natu-
rally became very heavy around TINS
level, and there were reactions OF sew
eral points in the late trading, but de-
clines seemed TO bring in fresh buying
orders. and the demand was sufficient
TO give the market firm tone at the
close, while last prices still showed net
gains of from 20 TO 26 points for the
day.
The more general character Of the
demand was in evidence from the start
Aside from the continued steadiness of
Liverpool and more numerous reports
Of an improved spot demand. there sp-
pearcd TO be no fresh bullish factor Of
consequence IN the news, but senti-
ment has evidently been very much
impressed by the reduction in crop
estimates, the absence of hedge selling
on any important scale. and the op-
timistic view Of general condition,
based largely on the big grain crops
and the abundance of money. At any
rate. the market opened firm at an ad-
vance Of to II points. The early ad-
vance carried prices somewhat out OF
line with Liverpool, and there was
rather heavy foreign selling here, as
well as realizing, but the offerings were
readily taken on slight recesslons, and
the generally upward trend of prices
continued until active months were
selling 30 to 33 points net higher dur
ing the afternoon This advance car
ricd October contracts up TO 1923,
while December sold at 1862 and
March worked through the l1cent
level. or within II points OF the highest
price touched on the bull movement of
last April. Subsequent fluctuations
were quite erratic, but after break
to 1915 for October the market closed
al 1913 for that position, or about 10
points off from the best. While some
criticised the jump in Southwestern
temperatures, weather conditions were
generally considered more favorable IN
the belt. but the unfavorable character
of the weekly reports published since
the compilation of the last condition
reduce the estimate of the crop, while
the absence Of more important hedge
selling has led to more confidence in
the stability of Southern spot markets.
There may have been some further
hedge selling Of October contracts here
to-day, but the premiums on late
months have appeared sufficient to fur
nish carrying charges, and near month
offerings have been readily absorbed
against sales of December and January.
The larger exports for the day.
amounting TO nearly 2l 900 bales,
seemed to color the talk of a better
spot demand, and private wire was
received here from Dallas suggesting
Il considerable short interest for Sep
tember shipment There were one or
two scattering reports of increased
offerings in the interior, but the South
ern markets officially reported were
generally hc to l4c higher. with Hous-
ton quoting middling at $50 and re-
porting sales Of 5000 bales. Range Of
prices: