Evening star. [volume] (Washington, D.C.) 1854-1972, 1916-07-09
Money to Loan
COTTON MARKETS.
NEW YORK.

NEW YORK. July S.-Reports OF
continued heavy rains in the belt and
more numerous crop damage reports
caused a moderate advance in the cot
ton market here this morning. Octo-
Der contracts sold up to 1918. or y
points net higher, but the advance was
checked by realizing and reactfons
followed, with October closing at 1910,
and the general list barely steady at
net gain Of to points.
Liverpool was relatively steady on
trade calling in narrow market, and
the local opening was steady at an ad-
vance of to points. Reactions to
practically last nights closing figures
occurred right after the call as result
of proft-taking and the absence of
any general or aggressive buying. but
the market soon f1rmed up again on
reports of damage from the storm
area. Active months worked about 5
to 10 points above last nights closing
figures during the middle of the morn
ing. with July selling at 1904 and De-
cember at 1881, but the demand did
not become active, and closing prices
showing reactions Of a few points
from the best under renewed realiz-
ing and local selling. According to
the early weather map no change had
occurred in the position of the tropical
disturbance. which remained central
over Mississippi, while five inches of
rain were reported at Birmingham,
Ala, and food warnings were said to
have been issued for rivers in eastern
Mississippi. The official forecast for
further showers or rains were in line
with the views of local map readers.
who said that the storm center was be-
ing held stationary by high pressure
over the lakes and along the Atlantic
coast. Private reports of storm dam
age evidently caused some anxiety, but
the comparatively small demand was
attributed to feeling that rain dam
age at this season of the year was
likely to be recovered, and local trad
ers said that while such storm as the
cause great uneasiness. the tendency
at this time was to wait for clearing
weather before attempting to form
any definite opinion as to the
permanency Of the reported damage.
Outside of the storm area weather
conditions were considered generally
favorable. but there were reiterated re-
ports of boil Weevil activity in Texas
Port receipts today, 6.55s bales; for
the season, 7,472,471; exports today,
4,117; for the season, 5.612, $50 stock,
NEW ORLEANS.
NEW ORLEANS. July s.-storm
news was still the dominating in
fiuence in the cotton market today,
dLu IL cdilieu prices up LOT small
advance on considerable realizing Of
profits by buyers of the earlier ses-
sions of the week. At the highest the
trading months were 6 to points over
yesterdays last quotations. The close
was at net rise of to 6 points,
Around the opening there was a rise
of to 7 points. Cables were better
than due. and the market was flooded
with kilograms from Alabama and
Mississippi telling of damage by wind
and rain. While the market had a
firm undertone throughout the session,
the rising tendency was held within
bounds by the profit taking of longs
Late in the session the market was
at its highest, following the. forecast
of continued rainy weather for the
eastern belt and flood warnings for
rivers in Mississippi.