New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-09-11
COTTON UNSETTLED;
DROPS SLIGHTLY
Market Fluctuates with Close 10
Points Below Thursdays
Figures.


national politics Increased the disposi-
;ioE TO take profits on long cotton after
the recent big advance, and the market
was unsettled yesterday, with fuctua-
tions irregular Heavy offerings were
we'll enough absorbed, however, to in
dicate the continued presence of
strong bullish sentiment, and while
some estimated that contracts repre-
senting no less than 10000 bales had
been liquidated during the days trad
ing. closing prices were steady and
within Is or 20 points OF the highest
for the movement. showing net loss OF
only to 10 points as compared with
the final figures of Thursday.
The market opened steady at I'M
changed prices to an advance Of 3
points in response 10 higher cables.
There were a good many overnight
buying orders around the ring and the
active months quickly sold TO points
above Thursdays close, or back to
nearly the high point Of Thursday al
ternoon. As soon as the first rush OF
demand had somewhat subsidized, how
ever, prices weakened under heavy
realizing, and there also seemed to be
local selling for reaction which was
probably based on an expectation tina =
the less favorable turn in international
affairs would render speculative or IN
Vestment buyers more cautious. Bull
ism sentiment, however, was encour-
aged by the character of the news from
Southern spot markets, while II was
rumored that recent sales of October
against actual were being covered, and
the market hrmed up after a break
Of Il to 10 J oints, with December con-
tracts making new high ground for the
movement during the early afternoon,
when they sold at l0.64c. Weakness IN
the stock market promoted the less ia
vorable view Of international relations,
and disappointing reports from the
steel trade were also against the lar
ket. which again weakened during the
afternoon, with October selling of
from loose to lO.09c and January from
lOSlc to l0.59c. Later fluctuations
were irregular, with last prices show
ing rallies Of or points from the
lowest.
Except for renewed uneasiness over
international affairs, the days news
seemed of q bIllsh average. The
weather was more favorable, but there
were many bullIsh crop advlces from
the South claiming that no improve
ment had followed the August rain, and
there was evidently a continued tend
ency toward reduced estimates OF the
supply. There were also reports OF an
improved spot demand from both east
ern and western sections Of the belt,
and advices received here from Texas
said that spot shorts for September
shipment were finding II dlihcult TO
secure their requirements al the ad-
vauced prices IN the interior. Inc
character Of some of the October buy
inc here served 10 color these buI!lsh
spOt advices. and Southern spot mar
kcts as officially reported were un-
changed 10 % points higher, with Cal
weston quoting middling cotton at lCc'
the highest price reached IN any SOulA-
ern market 50 far this season. Inc
weekly movement figures OF the New
York Cotton Exchange follow: FOR,
receipts. l03, 500 bales, against 4e,o-5
last year; overland TO mills ana
Canada, 6,332, against 1,Ol6 last year;
Southern mill taknRs, estimated, Az
GOO. against 10000 last year; gain OF
stocks at interior towns, 24,O66, against
28.ssO last year; brought into sight for
the week, 1866, against 1924 last
wear. Total crop movement: FORT re
ceipts, 27l,OS7, against l2Z,4to Iast
wear; overland to mills and Canada
2-.O77. against 5,491 last year; south
ern mill takings, 10000, against o.
nj last wear: stock at interior towns
decreased since August 24,lS2'
soainst an increase last year Of 3D.
Ss0. brought into sight thus far for the
season. 468.382, against 219,734 last
year. Range of prices: