New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-08-28
COTTON HELPED
BY CROP REPORT
Broader Demand Leads to
Further Advance Over Yes
terdaV'S Prices.

Private crop reports of a character to
increase confidence in bullish official
condition figure from Washington on
Monday led to further broadening of
demand in the cotton market yester-
day and a further sharp advance in
prices. The trading, in fact, showed
evidences of larger general interest
than at any time since early in the
summer, and January contracts sold up
to 1914, or more than SIS per bale
above the low levels reached on the
break eliminating on July 10. The
close was few points off from the
best under realizing, but steady, with
last prices still showing net gains of
from IS to Is points for the day.
Washington advices tended TO in
crease confidence in the belief that
changes in the conduct of submarine
warfare have greatly minimized the
probability Of further friction with Ger
many, and relief from apprehensions of
this character was still factor in the
market adding to the confidence of
buying based on the unfavorable crop
advices and other bulish features. The
opening was at an advance OF to z
points and prices almost Immediately
sold ii to II points net higher. Nat
urally enough this advance of over
$3.50 per bale from the low level of
Monday attracted considerable reallZ-
ing as well as some selling for a re-
action, while there were also reports
of increased Southern offerings. Sales,
however, were very readily absorbed
by the broadening outside demand,
which permitted only slight recessions,
and prices sold still higher following
the publication of private condition re-
ports, with active months reaching a
net gain of from % to 26 points.
Around 973 for October and 1902 for
December the buying became some
what less aggressive and last prices
were or points off from the best I'M
der profit taking.
Two private crop reports were issued,
one of which made the condition 7O2
per cent and the other 69.8 per cent,
suggesting deterioration of about Z
per cent for the month, as compared
with the figures of the same authori-
ties. One of these reports construed
the condition as pointing to a crop OF
only II 100000 bales, excluding llnters,
and local bulls contended that the con-
dition had lost further since the COM
pilation of these reports, owing to the
continued wet weather. There were
rumors that Russia had been buyer
of contracts here as a source of fill
ing out export engagements, and while
these reports were not confirmed, there
were continued indications Of a some
what improved export demand in the
Southern markets. Spot prices as Of
ficially reported were unchanged TO 20
points higher, generally II to 10 points
above Thursdays figures. Spinners'
takings of American for the week were
17O,642 bales, against 1888 last year
and 1872 300 two years ago. The worlds
visible supply of American is now
2,719,100 bales, against 1,55S,l68 last
year.
The weekly movement figures of the
New York Cotton Exchange follow:
Port receipts, 28,170, against 1859
last wear; overland TO mills and Can
ada, 5,222, against 81 last year; South
ern mill takings, estimated 10000
against none last year; loss OF stocks
at interior towns, 6,458, against 1850
last year; brought into sight for the
week, 56,934, against 1858 last year.
Total crop movement-Port receipts,
99,833 (5,762 added Galveston),
against $1,000 last year; overland to
mills and Canada, 1879, against 3,532
last year; Southern mill takings, 1l5,-
600, against nil last year; stock at IN
terror towns decreased H,67l, since
August /, against decrease of 9ol
last wear; brought into sight thus far
for season, 1S8,961, against 36,46O last
year.