New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-09-14
COTTON STEADY,
CLOSES STRONG
Market Firm, Advances Forty
Points Over Saturdays
Quotations.

The cotton market showed continued
or even increasing activity and
strength yesterday, with prices making
new high records. December contracts
sold up 20 l0.s0c and the market closed
strong at nearly the best point, or
from % 20 40 points above the closing
quotations Of Saturday. The buyinr
movement seemed 20 be based upon
very much the same general factors as
those responsible for the advances OF
last week. The readiness with which
the heavy realizing sales Of Friday and
Saturday had been absorbed appeared
10 have increased the confidence OF
buyers, while bulliSh sentiment was
also stimulated by the character Of
Southern spo, and crop news. There
was some selling early owing TO ner-
vousncSs over international politics,
but later adviccs from Washington
seemed to create rather a more favor
able impression as to the situation IN
this respect, while it appeared from the
talk around the ring that much of the
demand was based upon expectation Of
a marked Improvement in export bust
ness following the visit here of British
and French hnanciers.
The market showed some hesitation
at the start. Cables were better than
due and the opening was 2 to points
higher, but fluctuations Immediately
after the call were somewhat irregular
as n result of scattered selling on tn"
good weather reported in the South
over Sunday and nervousness over in
ternational relations. Offerings, how
ever, were soon absorbed and while
there were reactions of or I points
around midday, the market showed a
generally advancing tendency, with
Wall Street and commission houses
heavy buyers, while many early sellers
seemed to be covering or replacing
their long cotton as prices worked up
to lO45c for October and lO.99c for
January, or about 80 to 80 points net
higher on the more active deliveries.
Closing prices were or 3 points OIL
from the best on the fal. and winter
deliveries, but later months closed at
practically the best point OF tn day
and movement.
There were number of private
wires in the market during the day TO
the effect that buyers were paying 10
cents for cotton at some interior
points, and notwithstanding the better
weather, crop adyices continued OF
bullish average, with reports from
Memphis claiming that the fresh
growth through the August rains had
been Offset by shedding and boil weeyil;
The increasing movement as reflected
in the large estimate for to-day re-
ccipts at Galveston was naturally con-
sidered as foreshadowing an improve
ment in the export movement. Al
times during the day, however, reac-
tionary sentiment seemed to be little
more in evidence, with local spot
handlers predicting that with two or
three weeks of good weather the South
would become a very free seller around
the prevailing quotations. Southern
spot markets as officially reported were
unchanged to % points higher, nearly
all the markets reporting an advance
of from u to &c. Sales were large
at several points, including 1850 bales
at New Orleans, 4,ll4 at Savannah ana
1921 at Houston. Liverpool reported
continued large spot business and
buying orders from India based on re
ports of deterioration IN the American
CROP prospect. Exports for the day
were 900 bales. Range of prices: