New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-08-01
WEATHER CAUSES
COTTON SLUMP
Market Closes at Loss Of 4
Points on UnfavOrable Re-
ports from Southwest.

The weather situation IN Texas furnished the
dominant factor in Saturdays cotton market. and
Wills the official government forecast again failed
10 indicate anything more than fair weather o'e-
the entire Southwest for Sunday and likewise over
the central and eastern belts, with not much change
IA temperatures. there was very general impress
sion among the trade that. notwithstanding this
forecast. T,Ias was getting some good rains ia the
west and northwest. with fair prospect Of the
showey conditions extending before Monday into
the central and eastern sections, where the crop
appears 10 be suffering most. For this reason. the
market after opening steady at an advance OF u
points. gradually lost It's Improvement and before
the end Of the nrst hour was selling > points under
the previous night. The fact that New Orleans led
the depression and was a seller here induced mod
crate bear pressure on the part Of local traders.
and there was also scattered selling credited 10
Wall Street houses. Any important activity on the
par: Of outsiders Was ehecAed by the absence oi
Liverpool cables owing 10 holiday there. and the
fact that the government report will be Issued at
noon on Monday. sfcrng better opportunity Tor
basing new operations IA the market. From the
fact that the average Of the seven private con
figured that the bureau report would be tribe
under the teR-yesr average and couple OF points
or under last months condition 81 500 re
COriil said the crop conditou was good. but de
tcriufAtion would be rapid unless rain appeared
soon. The traveller Of local commission house
sent word from COfsicans TeI.. that from Terrell
to Dallas the crop vas IN need u rain and Sn@i-
dlng and south VI Dallas was shedding BON
squares and leaves High temperatures were again
complained Of from TeIas. but they appeared To be
10 wOne than thry were year ago al TINS TINE
The weekly weather report Ia Bra street = SAID
rain will benefit cotton IN Texas. the lower MIS-
slss.ppi Valley and Georgia. although no real SUI
fcring is yet reported. Alabama and South caro-
Ina send good reports as 10 cotton. IL was ms
feeling that the crop pretty much all OF the
belt was still I'm position where good rains any
time within the next lew days would restore II 70
satisfactory shape that accounted Tor much Of the
lack Of sggress.yeness displayed By bull raiders
throughout the forenoon. IL was felt that MONDAY S
detail, OF over Sunday conditions In connection
with the government report would furnish much
more satisfactory indication OF the crop position
Near the close after slight rally on reports OF
high temperatures I'm the Eastern belt. the market
weakeue again under foreign selling and a. nnally
barely steady In tone. at a net decline Of 10 /
points
Tie local market for spot cotton was quiet and
unchanged at g. zoe for mddling upland: sales NIL
Southern spot markets were teegraphed as follows
New Orleans quiet. unchanged al s.69c. salts, 800
bales Savannah steady. unchanged at Sy-l6c ,
sales l45 bales. Augusta steady, unchanged al
Soc; sales nil. Memphis steady. unchanged at
75c; sales. as balos Little Rock quiet. UNI
changed at S.j0c. sales NIL Charleston aud VII
mlngton nominal. Norfolk steady. unchanged al
soc. sales. 80 bales Houston steady. unchanged
at S.SGc. sales. IS bales.