New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-04-29
COTTON STEADY,
WITH FEW SALES
Rains in Southwest and Dr0uth
In Eastern States Retard
Crops Progress.

Bullsh weather and good trade adj
vices held sellers in check and i'm
parted a generally steady undertone to
the cotton market yesterday, but failed
TO inspire any aggressive demand. and
fluctuations were more or less irregu-
lar. with the close net unchanged to 8
points higher.
The market opened steady at o de-
cline Of to 0 points under q renewal
Of Wednesdays selling movement.
Relatively easy cables encouraged re-
dictionary sentiment, and the circula-
tion of the few additional May notices
may have promoted some near month
liquidation. 1t appeared, however. that
the notices we're being promptly
stopped, while trade interests again
bought May against sales Of later de-
liveries, and the selling was much less
active than it had been on the break Of
the previous day. This in itself en-
couraged some fresh buying for long
account, and the market soon frmed
up on the outlook for continued I'M
settled weather in the Western belt and
continued dry weather east Of the
river.
Expectations of bullish weekly
weather report and steadiness in New
Orleans, suggesting that interior spot
markets had not followed Tuesdays
decline in futures, were factors on the
] Il. 4 a =
points higher during the middle OF the
morning. Demand then tapered off.
and the failure of a weekly weather
report which read quite as bullishly
as expected to inspire more active
buying. may have been partly respon-
sible for renewed realizing or selling
for a reaction during the afternoon.
| Closing prices were some to 5 points
off from the best.
The weekly report Of the Weather
Bureau indicated that excessive rains
/ had greatly hindered farm work IN
Texas and Oklahoma, and tina. much
cotton would have TO be replanted in
that section. In the Eastern states the
crop was reported to have been largely
/ planted, but 1t was stated that little
growth had been possible on account
of drouth and that termination Of late
planted would be delayed until rain oc-
Cured. In the Central belt planting
progressed and local showers were
/ beneficial. Preliminary reports pub
/ lished by a prominent local authority
before the opening said that reduc-
/ tons in the acreage of Mississippi
would be less radical than in neigh
boring states, but read more bullishly
as TO Arkansas, and said that there
would be great reduction in the use
Of fertilizer in both states.
Exports for the day we're 47,S09
bales, making 7,140,101 so far this sea-
son, against 8,187,945 last year. There
was some talk in local trade circles of
increased shipments to Russia with the
reopening of the port of Archangel.
| Most of the cotton now moving, how
ever, is going to Great Britain. South
ern spot markets, as officially reported,
were all unchanged, with the exception
OF New Orleans, which was points,
and A usta, which was 10 points,
lower.
Proposed amendments TO the bylaws
of the New York Cotton Exchange,
providing terms Of settlement by re-
ceivers of cotton rendered under var-
Gus inspections and other details con-
nected with inspection and deliveries.
were adopted by vote of members
yesterday. The item which attracted
most attention in the trade was the
provision that the receiver of cotton
rendered against sellers classification
might Immediately pay only so per cent
of its total value, depositing the bal
ance in trust, if desired, pending final
settlement through arbitration by
i - A
the Department of Agriculture.
Range of prices: