New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-10-06
COTTON GAINS ~
STILL MOUNTING
Bullish Advice from South Sends
Bears to COver-Market Up
% Points. -

A further sealing down Of crop ideas
due to the very unfavorable weather
reported in the South was reflected IN
a further sharp advance in the cotton
market during yesterdays earlier trad
ing. January contracts sold up 10
l3.2Oc. or more than 81 bale above
the closing prices Of Tuesday, and 90
less than 1915 above the low level OF
as recently as last Friday. There was
heavy realizing. however, while a some
what reactionary sentiment seemed 10
be developing toward the close and re-
actions OF from 20 70 % points oc-
Cured in the late trading. The clos
ing tone was steady at . net advance
of from 10 to % points for the day.
The market opened firm at an ad.
vance Of "a to 81 points on the
strength OF Liverpool, bullish over
night spot advices from the South, the
unfavorable weather map, and predic-
tons Of bullish weekly weather re-
port at noon to-day. There was a good
deal of English selling here probably
in the way Of arbitrages, and there was
also heavy realizing which caused re-
actions of or 10 points right after
the call, but as soon as Liverpooi
closed and straddle selling was shut
out, prices frmed up on big general
demand, which was particularly active
from Southern sources, and during the
middle Of the morning active months
sold 40 TO ~ points ABOVE Tuesdays
closing figures. This advance carried
December contracts up 70 IL cents,
while March sold at l3.47c, making
gains OF practically 4 cents a pound
as compared with the low level OF last
July. Realizing then became little
more general, with Wall Street houses
particularly heavy sellers as though
Influenced by the somewhat easier rui-
ing OF the stock market, end the mar
ket eased of to l2.79c for December
and 1899 for March in the late ses-
sion.
There were rumors during the morn +,
ing that spinners were buying Deem
Der contracts on a considerable scale,
but part Of this buying may have been
By trade interests against sales OF
later deliveries as q stradd!e PROPOSE
ton, and some Of the local spot brok-
ers said that spinners could not see
their way clear TO enter the Marker
at present prices. Liverpool caoled
that the advance was checking con-
sumption and also reported the hrss
signs OF anxiety on tue par "a WV
South 10 sell. There was hardly any
thing in the news reaching here from
the South. or in the character Of the
local trading, however, TO indicate any
pressure Of actual, and local spot peo-
pie reported that Southern factors
were not offering forward shipments
owing to the widespread bullish senti..
ment in the South and the strength OF
the interior markets. Southern spot
markets as officially reported were 20
to 81 points higher, the maximum gain
being in Augusta. which did not fully
respond 70 Tuesdays advance in fu-
lures. The detailed weather report
showed that rains had been general
and in some instances heavy through
out the belt. light frost was re"
ported at Oklahoma City, and the OF.
fetal forecasts for frost in parts OF
both the eastern and western belts
doubtless contributed materially to the
early advance. Exports for the day
were 18.405 bales, making 700,is2 SO
far this season. Range Of prices: