New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-07-01
FEDERAL REPORT
ON COTTON TO-DAY
Trading Yesterday Largely in
the Way of Adjusting
Accounts.

The cotton market was comparative
~ quiet yesterday, with fluctuations
irregular and with trading believed to
be largely in the way of adjusting
small accounts in anticipation OF the
government crop report, which rs due
at / o'clock to-day. Early advances
were barely maintained. but the mar
ket closed steady at net gain OF from
TO ! points.
No fewer than four private crop re-
ports were issued. Two Of them were
available before the opening, one OF
which made the average condition 1874
per cent and the other 1917 per cent.
A little later third report placed the
condition at 1915 per cent, and the fail
ure of these figures, which were slight
ly below the ten-year average, TO Gre
ate more general or aggressive de-
mand probably promoted realizing on
the early advance. Cables were rela-
lively steady, and the market here
opened from to 5 points higher, with
active months selling 8 points above
Tuesdays closing figures during the
early trading. Reactions of ! or o
points followed, with selling rather
more in evidence after the publication
Of a more favorable weekly weather
report than expected and OF fourth
crop report placing the condition at 81
per cent. Offerings tapered off. how
ever, on the setback from 9.S2 10 GIT
for October, and the market was quiet,
but steady, in the late trading.
The government report, due at l
o'clock to-day, will show the condition
Of the crop as of June % and also esti-
mate the acreage planted. The condi-
ton will compare with 80 per cent last
month, 1915 per cent in 1914 and the
ten-year average Of 1919 per cent. On
the decline of last week some local
traders were predicting that to-day's
report would show a condition of per-
haps 80 per cent, but the six private
reports published within the last two
or three days have caused a consider
able modification Of opinion, as they
have ranged from about 1914 per cent
to 81 per cent and averaged in the
neigh borhood of SOL per cent. The
most general impression late yesterday
appeared to be that the trade was dis
counting an official condition showing
very little change from last months
figures. Private reports on acreage
issued within the last few days have
indicated decreases ranging from l5.1
per cent to about 1863 per cent. and
some think that the government report
on area is likely to exert more infu-
ence on the market than the condition
figures. Last years acreage. accord
ing TO the final report. was 37,406,000
acres. Private cables reported con-
tinued good spot demand in Liverpool.
with the market otherwise featureless.
Southern spot markets. as officially re-
ported. were all unchanged, with the
exception of Norfolk. which was 6
points lower. There were no exports
yesterday, and so far there has been
little talk of business for forward
shipment Of new crop cotton from the
South, and sentiment is very much
confused as to conditions in the ex-
change situation and the export out
look. Complaints are still coming OF
too much rain in some sections of the
belt, chiefly Oklahoma, while there is
some talk Of low night temperatures
in northern sections and of drouthy
weather in the extreme Southwest