New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-09-29
COTTON STEADY,
WITH SMALL GAINS
Market Up Is Points, Aided by
Overnight Buying and
Firm Cables.

While still higher prices were re-
corded in the cotton market yesterday,
fluctuations showed increased irregu-
larlty, and reactionary sentiment was
more IN evidence, with many recent
buyers doubtless disposed to take
profits in advance of the government:
crop reports expected OH Saturday.
Offerings were well enough taken
70 suggest a further broadening Of
commission house demand and wide
spread confidence in cotton as a bullish
proposition, but after the advance to
12.75c for January deliveries, the mar
ket met increased offerings and there
were reactions Of 10 or II points from
the best In the late trading The close
was steady at a net advance of 10 to
Is points for the day.
There appeared 10 be a good many
overnight buying orders around tn
ring at the start, while renewal of
bull support was encouraged by rela
lively firm cables and apprehensions as
to the course of the storm reported in
the Gulf. First prices were ~ to %
points higher and active months
worked up another point or two right
after the call. This advance led to a
further narrowing of the differences
between New York and Liverpool,
which resulted in heavy Liverpool ar
bitrage selling while there was also
more or less general realizing under
which prices reacted some 10 to IT
points from the best Offerings were
well taken at the decline and following
the publication of the storm warnings
for the Louisiana coast and the unset
IL II. s. -,
frmed up. October contracts reached
12.22c, December 1850, while March
sold up to 1304c, or "a to 81 points net
higher. The relative firmness Of the
near month suggested that notices
which had been issued against 5000 to
10000 bales had been promptly taken,
but demand seemed to slacken at the
higher level and later fluctuations sug
gested increasing nervousness, al
othough large offerings were absorbed
on comparatively moderate setbacks by
a continued commission house demand.
A private crop report published before
the opening placed the condition at
month, indicating a deterioration OF
8.3 per cent for the month. Such a
falling off in the government figures
next Saturday would give condition
in the neighborhood of 500 per cent,
but some such showing as this has been
talked OF for the past two or three
days and it is doubtful whether the re-
port of yesterday morning created any
fresh sentiment of consequence. Ex-
pectations that reports OF Allied sue
cesses in France might be reflected in
a continued steady Liverpool market
this morning, and apprehensions OF
further crop damage through unset
tied weather conditions or the ap-
?roaching Gulf storm were, perhaps,
20 chief bullish items of the day, al
.eugh there were further bullish re-
',orts from Southern spot markets and
It was also reported that domestic
spinners were buying a little more
freely and showing more decided symp-
toms Of uneasiness with reference TO
their seasons supplies. On the other
hand, farmers were said to be selling
freely and advices from the South in
dictate that much cotton bought IN the
buy-a-bale movement of a year ago
this Autumn is now finding profitable
market, while the action of the Postal
Service in resuming the use of Jute
Irvine instead of cotton in the tying up
of mail matter suggests that some or
the abnormal uses found for cotton
when prices were so low and the mar
ket so demoralized a year ago may
possibly be closed by the recovery IN
prices. Southern spot markets as Of
fcially reported were &c to CSC higher
Exports for the day were 4,l99 bales.
making d6s,9S5 so far this season.