Evening star. [volume] (Washington, D.C.) 1854-1972, 1916-06-18
COTTON MARKETS.
NEW YORK.

NEW YORK, June 1I.-ProSpectS Ior
clearing weather and nervousness over
the Mexican situation seemed to pro-
mote scattering liquidation in the cot
ton market this morning. and after
slight early advance prices easeo on
October contracts sold down from 12s5
general list closing barely steady at
net decline of to points.
Relatively easy cables were onset py
reports of a further decline in ocean
freight rates. and houses with Liverpool
connections were moderate buyers here
at the opening. First prices were
points lower to 3 points higher, with
near months relatively easy. but the
tone seemed to improve during the
progress Of the call. and active months
sold 3 to ! points net higher after me
opening. The continued showers In the
eastern belt, following the recent COM
plants of too much rain, and reports
that the crop was getting into grass in
some sections of Alabama, probably
promoted this early advance. put the
here for Liverpool account. AS soon as
these orders had been supplied, the
market turned easier on the western belt
forecast for fair weather. while there
street selling. which may have been in
spired by the unsettled situation In
Mexico. July contracts sold on from
1880 to 12.72. while December declined
from 1911 to 1906. and the market
closed at practically the low point Of
semi holiday market in Liverpool. with
jobbers working against prices. but the
decline abroad was considered re-
Spouse to reduced costs OF transporta-
shipments from this side. 1t was re-
ported here that ocean freight room
from New York to Liverpool is now
available at $1.25 per hundred. and the
difference between the New York and
Liverpool markets has narrowed by
This is about equivalent to the decline
in ocean freight rates. but some
thought the Liverpool buying this
morning represented fresh straddle
rover differences. as freight room is
still said to be Offering freely. Port
receipts today, 1883 bales: for the
season, 7.224.s54 bales. Exports today.
bales. Stock. s04.s01 bales.
NEW ORLEANS.
NEW ORLEANS. June 17.--After q
decline of l to points on the opening
today tho cotton market steadied up
and went 1 to 8 points above yester-
days close. Buying for the account of
foreign traders who were reversing
straddle operations was generally sup
posed to be the chief steadying infiu-
ence. The market closed at net loss
OF to points.
Liverpool was very poor on both
spots and futures, and the local mar
ket fell of in the initial trades. Bear
ish traders considered the weather out
look much improved. less rain being
shown on the map. while the Official
forecast predicted fair weather over
the belt except for showers in Georgia
and the Carolinas. The selling move
ment which was started on this. how
ever. was checked by complaints Of
too much rain in Texas and private re-
ports of rains this morning in Texas
and Oklahoma. TAese complaints also
served to Offset the effect. at times. of
considerable liquidation Of long, but At
no time did the market show any real
buying power.
The Mexican situation attracted more
attention than usual. and prospects Of
war were considered more bullish than
bearish because of the effect such an
event probably would have on consump-
ton and the Texas crop.