New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-09-19
COTTON CLOSES
WITH SLIGHT LOSS
Failure of Cuban Storm 70
Develop Sends Market
Down IS Points.

The cotton market showed further
nervousness and irregularity during
yesterdays trading. Business seemed
70 be largely in the way Of evening up
commitments for over the weekend,
but there was also selling here, which
was believed 10 reflect increased South
crn hedging or spot house offerings,
while on declines the market met sup
port from the rc-buying Of bulls, who
had taken profits earlier in the week.
rs well as covering bv shorts. Fall and
winter months were relatively easy.
while March led the rallies. and II was
the still more remote and less active
deliveries which showed the minimum
losses a: the close. with the final tone
steady. net unchanged to l3 points
lower.
The market opened at a decline Of 4
20 - points under renewed scattering
liuudation and spot house selling.
Weakness in Liverpool and the failure
of the Cuban storm 20 develop threat
ening features over night probably en-
couragcd the early offerings, but the
cotton was we'll taken around the initial
figures and prices soon turned steamer.
Recent sellers for a reaction seemed
willing 20 take profits on the decline OF
about 80 to 80 points from the high
level of the week. and there also
seemed 70 be support from some of the
older bulls. who had taken profits and
were credited with buying January.
December contracts sold up from 1888
70 1889. and January from HOB to
lib. but at this level encountered in
creased offerings. which were accom-
panied by talk of an easier tone in
some Of the Southern spot markets and
reports Of increased hedge selling. The
break carried prices back TO about the
opening figures and the close was
within ? or points of the lowest.
Bullish advices from the goods trade
and unfavorable private crop reports
probably helped the mid-morning rally
end while some of the local spot people
are predicting lower prices under in
creased Southern offerings. local bulls
are still talking very confidently on the
reduced estimates of the crop and an
optimistic view of the worlds require
ments. Sentiment, however, has be-
come rather more divided at the ad-
vance in prices. and some of the local
houses are advising increased caution
rending further crop or spot market
uted the decline in Liverpool 20 un-
favorable reports from New York, in
creased hedge selling and more liQui-
dation. but the relatively easy showing
Of futures was offset to some extent by
the continued active spot business at
the decline. Reports from Dallas.
Tex, indicated heavier interior
movement and claimed there were few
buyers except spectators. but there
were continued reports of a poor pros
poet for any top crop. and while many
local traders have considered recent
weather conditions more favorable.
there has been little change in the
ressimistic average of private crop adj
vices. The governments condition re-
rort is TO be issued at II o'clock on
Saturday morning. October ?.
The local market for spot cotton was
quiet and 20 points lower, at 1910, for
midding upland: sales nil.
Southern spot market were tele-
graphed as follows: Galveston quiet.
unchanged az 10000; sales, 500 bales.
New Orleans steady. unchanged at
loose; sales. 995 bales. Mobile nom
iral. unchanged at l025c; sales nil.
Savannah. quiet. unchanged at 10hc:
sales, 2.024 bales. Charleston quiet,
lice lower at lOd1O1c; sales nil
Wilmington steady. unchanged at Zoe;
sales nil. Norfolk steady. ~ points
lower at l013c; sales. SO bales Balti-
more nominal. unchanged at 10Ac;
sales nil. Augusta steady. 10 points
lower at 1925; sales. 3,4iS bales. Mem
rhis steady, unchanged at l025c; sales.
$50 bales. Houston steady, 10 points
lower at 10.40c; sales. 1854 bales. Lit
tie Rock steady. unchanged at 10c;
sales nil Range of prices: