The sun., 1916-08-26
COTTON MARKET.

Amid the %area,es. %activi!y the cotton
snarke, ha. witnessed since the outbreak OF
N, so,n, s" xv var .oo price; :" Jumped s. to 50
snd tlose.i q = net advance OF q TO IS points,
hsvins sold on . little from the top under
adv anccd about s. a bale, December reached
v.ssc.. January iS.%c.. while March and later
months crossed tho IL cent level. July reach.
ing II. .sc. In the last hour.
Such a tremendous advance on top Of a
steadily advancing market for several weeks
vas made possible by reason. Of exceedingly
i've Interests. Wall Street. New Orleans and
several larse Interests which came n a.
eleventh hour bulls An ab..ncc Of hedse
selling kept the market almost barc Of ION.
tracts oil day until II mel, realizing sales
near the close. Only ono other time during
Of d sps "o '" and %d ihs, w sns" .o any . fV.r' The
opening when considerable realizing devel.
: Sped This cotton was rapidly aosorbed on
advanced rapidly, reaching its hixhes, point
around ? O'Clock.
Crop news which had been growing worse, al.
trsdc paper saying that south Carolina in.
dicated a drop OF about ten points In con.
dition. while Georgia has lost abou, /, or
) point, for the month. Later II was re.
ported tina, . southern crop reporting agency
had made the condition Of the crop Go.l".
against 'ts. last month by the same an-
thority. As an index OF what the Govern
men, report may show next Thursday. these
reports were responsible for niuc, OF me
uuyI1es bulls UOlItcu oul Ahd' Wv b'
sehce Of any great outside speculative move
nnent showed the strong underlying strensth
OF the position. as the market seems 10 bc
adv entirely on the strength OF the
spot situation and the large dsnands from
spippcrs. who arc believed to have sold
goods heavily for forward shipment without
obtaining their cotton.
No rain occurred in any part Of the cotton
belt yesterday except slons the south Allan.
tic coxet. which was reached by the northern
edge OF the tropical storm now located about
vest of the Bahamas. although much re.
duccd In force.
II WAS cooi In the Western belt, but the
need OF rain was mentioned in many de-
crop will be seriously short this year and
every day OF drought In Texas and Okla
bona, II IL said. reduces the prospects ma
teriany. Some dispatches said the damage IN
drought was almost epar able. II was esti.
mated that Mississippi's production Will be
100 ON bales or less. Alabama not much more
and Georgia and the Carolinss 10 to Is points
Strong cables were responsible for the open.
ing advance Of 20 to d points here. and Liv'
erpool was q heavy buyer OF October. DE.
gambler and January here during the hrst
hour, reducing its straddle interest consider
ably.
The weekly movement figures OF the New
York Cotton Exchange follow: Port receipts.
1855 bales. against 3i.:,i last year; overland
TO mile and Canada. 3.?tS, against beg;
Southern mill takinxs cstimatcd 5000, against
against s.Gs: brought into sight for week,
10. 80. against sn.o3i. Total crop movement:
Port. receipts. 2t.sIs. asainst l0j.0 last year:
overland TO mills and Canada. i5.01s. against
1900: stock al interior towns decreased since
August ! S7.1s3, against 4i.s1i: brought into
ss..ght thus far for season ?".9+, against