New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-09-04
COTTON STEADY;
PRICES UNCHANGED
Early Advance In Market Neu-
tralized by Reactions at
the Close.

Apprehensions that the tropical storm
which, according 20 latest reports, was
heading toward the middle Gulf Coast
might enter the belt over the three
day adjournment and result in a fur
Their scaling down Of crop estimates
served to promote further broadening
of demand in the cotton market yester-
day, and realizing was well enough alb
sorbed to give prices a generally steady
undertone. Bullish sentiment was also
encouraged by the talk of better pros
poets for early peace negotiations in
Europe and predictions that the ad-
vance in sterling exchange fore
Swallowed a more permanent improve
ment following the negotiations Of the
foreign fnanciers who are now on their
way to confer with American bankers.
Reactions occurred in the late trading,
however, with the market closing net
2 points lower TO 8 points higher.
Relatively easy cables were attributed
to the influence Of the advance in ster-
ling, which was considered a bullish
factor on the export situation from the
Southern standpoint, and after open
ing points lower TO l point higher
the market soon hrmed up on re-
newed demand from Wall Street and
commission houses. There was some
Southern selling Of October, accom-
panied by reiterated predictions that IL
was against cotton which might be
brought here for delivery, and the mar
ket naturally met a good deal OF real
izng for over Labor Day, but the storm
threat restricted operations for reac-
ton. and prices worked 10 10 points
net higher during the middle Of the
afternoon. Demand then seemed 20
slacken. while profit taking was more
in evidence, with the close some 10 or
II points off from the best. October
contracts sold at $50 and December at
1898, within , or points Of Thurs
days best level.
The reports that the tropical storm
was approaching the belt and promised
to hit the Gulf coast between New
Orleans and Cedar Keys undoubtedly
caused a good deal of uneasiness.
Aside from the fact that such storm
might damage cotton in the fields, II IS
felt that the South now needs a spell
of dry. warm weather 10 hasten ma
turity. and that another wet spell might
result in still more bullish view OF
the CROP phTNlNuldiig ohDNtN NeN'N ~
velop later on for apprehending an
early killing frost. Southern spot mar
kets, as officially reported, were un-
changed to 10 points higher.
The weekly movement figures Of the
New York Cotton Exchange follow:
Port receipts, 57,243 bales, against 49,
O39 bales last year; overland TO mills
and Canada, 1916. against 949 last
wear: Southern mill takings, estimat-
ed. 10000. against 27.sS7 last year;
loss OF stocks at interior towns, 1906,
against a gain of 9s1 last year; brought
into sight for the week, 95,O23, against
69.s50 last year.
Total crop movement: Port receipts,
1878 (1O,702 added Norfolk, Calves
ton. etc., against 1928 last year;
overland 10 mills and Canada, 2O,746,
against 4.475 last year; Southern mill
takings. $4,000, against 27,Ss7 last
wear; stocks at interior towns show a
decrease since August l OF ASSET,
against none last year; brought into
sight thus far for season, 294,6so:
against iO6,310 last year. Range OF
prices: