New-York tribune., 1916-07-29
COTTON HITS NEW
HIGHS ON MOVE
Heavy Realizing, However,
Wipes Out Most of the
DAVIS Gain.

The increase of outside speculative
buying WAS quite pronounced in the
cotton market again yesterday, and
prices were carried into new high
ground for the present bull movement,
selling II to 13 points above the prevl-
Gus night early in the session. and
about $3.50 per bale up in the last two
weeks. For the first time adverse news
from the belt was attended by buying
orders, and this had much to do with
stimulating bullish sentiment In the
market.
Although the hard spots attracted a
good deal of realizing through com,
mission houses, the cotton thus offered
was well absorbed, and throughout the
greater part Of the day very STEADY
undertone prevailed.
A forecast Of the coming government
report was given In several private
crop reports issued during the day, one
of which made condition 1853, compared
with sO4 last month and 77.9 q year
ago. Another fixed the condition at
754, compared with 1871 a month ago.
Further reports to a local trade paper
mentioned several points loss in South
Carolina, points decline In North
Carolina and 10 points loss In Georgia.
Averaging the reports received by TINS
paper from all Of the Eastern belt, a
loss in condition Of about z points is
shown as compared with last month.
Evidences that another disturbance
was forming in the Gulf stimulated
buying early in the session. There was
nothing in the early weather news nor
the map itself however, TO show that
the disturbance had any of the char
acteristics of a tropical storm.
The unfavorable advices from Texas
were the first serious accounts that
have yet been received from that state,
as IL has been the opinion all along
that the favorable prospects In the
Southwest would 90 far to minimize
the bullish conditions east OF the river.
One wire said that the Texas crop was
going back fast and that most of 1t had
stopped blooming. These reports lost
much Of their effect just before the
close, however, when realizing became
so heavy that prices gave way sharply'
losing much of their earlier advance
and being finally unchanged TO 4 points
net higher. ,oo
Exports for the day were 28,123
bales. and for the week 134,4l6 bales'
against So 728 last year. Exports for
the season. 5.9S5,228 bales, against o.
OON, ~ last Ntdis
kets, as officially reported, were I'M
changed 10 hc higher, generally un-
changed
The weekly movement figures OF the
New York Cotton Exchange follow:
Port receipts, 2,161, against 42,g4z Iast
year; overland to mills and Canada'
1880, against 4,165 last yeari South-
ern mill takings (estimated),. 20,oVo,
against 2b,000 last year; loss of stocks
at interior towns, 22 AT, against lo,-
554 last year; brought into sight for
the week, 6S,544, against 55,552 last
year. Total crop movement-Port re-
ceipts, 7,t7S,10 against 10,774,26S last
year; overland to mills and Canada,
1,264,0 ,007, against 1,l94,4s9 last year;
Southern mill takings, 100000, against
3,127, 1877 last year; stock at interior
towns decreased 1924 since August
l, against an increase Of 320,l27 last
year; brought into sight thus far for
the season, 12,4l9, ,l89, against 15,416,-
III last year.
Range Of prices;
Yester-
Open High. Low. Close. day.
Aus, ,.... 1910 1915 1910 ls.099l8.1l 1901