New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-08-14
STEADY UNDERGONE
SUSTAINS COTTON
Market Receivers After Weak
Opening, Closing Ten
Points Lower.

All things considered, the cotton
market yesterday. although at one time
about 10 points under the previous
night, had a steady undertOne and near
the close rallied seven points from bot
tom. being finally 6 to 10 points net
lower. On all weak spots the market
seemed TO get fairly good support, not
with standing the fact that Texas
weather news was perhaps the best
Of the week. Not B, many points in
the Houston detailed reports men
toned rain as in private aGvices from
various parts of the state. which gave
the impression that precipitation had
been quite widespread during the last
few days. Conditions over the central
and eastern portions OF the belt re-
NAMED very favorable, with further
rain In pl .ceS and no excessive tempera-
lures anywhere except in Texas. The
forecast for East Texas suggested fur
Their showers. and this caused most of
the early weakness, which proved to
be bottom Of the day. The late up
turn followed buying by houses with
New Orleans connections, local cover
ing and bullish week end figures prIn-
cipally spInners takings Of American,
which aggregated 1929 bales for the
week, compared with 36,063 last year.
Takiugs so far this season have been
25Z, O23 bales, against 1884 bales last
year. The unsettled foreign exchange
situation was disturbing factor IN
cotton all day. II was understood here
that Southern interests who had ne
gotiated foreign exchange were very
much disturbed, and Will do no fur
Their business except on the basis Of
cash New York. The feeling among
spot men in the South was said to be
gloomy. Hedge selling, if INDUCED in
at all during the day, was comparative
ly light and seemed TO be absorbed
without affecting the market very
much. Cotton is beginning 70 move
rather freely at interior Texas points,
and some think any heavy rains at this
time are not wanted Through Ok4a-
homa and Arkansas ample rams have
fallen, and a ST. Louis man on change
yesterday said that, Notwithstanding
the 10 per cent reduction IN the Arkah-
sas acreage, crop prospects are so iaV-
orable that the yield in the state viii
probably exceed last season. sum
mary of crop conditions n Missouri,
Arkansas and Oklahoma, issued by
st. Louis spot firm, said on the whole
the crop has made good progress dur
ing the week, as a result f OppOrtune
rains followed by warm weather, and
shows general Improvement. In the
neighborhood OF Stamford, Tex, the
crop was said 10 be very spotted ana
Will not be much over last years total.
Exports for the day aggregated o,34
bales, making 64.370 bales for the sea-
son. against 3.829 bales last year. Sou
thernspot markets were unchanged to
points lower. The weekly movement hg-
urcs Of the New York Cotton Exchange
follow: Port receipts 2lO5O bales
against S,3ll last year; overland TO mlIis
and Canada, 2,4O3 against l,4O9 a year
ago: Southern mill takings, estimated.
1000 against nil last year; loss 81
stocks II interior towns. 29,9l9 against
] .225 last year; brought into sight Tor
the week, 1884 against 6.495 last year
Total crop movement: Port receipts,
37457, 667 deducted Galveston, against
14.212 last year; overland to mills ana
Canada, .6l9 aPainst 2,99Z last year;
Southern mill takings, $4,000 against MI
last year; stock at interior towns IN eX-
cess of August /, 3S,861 against 4,949
last year; brought into sight for the
season thus far, 60,215 against l2'Zoo
last year.
I.Y-o ~ r.~ices