New-York tribune., 1916-06-24
COTTON LOSES
THURSDAYS GAIN
Heavy Realizing and Selling for
Reaction Drive the Market
DOWn-CIOSe Low.

A good part of Thursdays senss-
tionai advance was lost during yester-
days trading in the cotton market, the
close being easy at a net decline Of IL
10 IS points for the day. This reflected
heavy realizing, while there was also
scattered selling for a reaction on an
idea that the near-month short inter
est had been pretty well covered, and
that there would be a tendency to even
up scattering long accounts before the
publication Of private crop reports next
, week July contracts broke to 1911 in
the late trading. or 81 points under the
high level Of the previous day, and the
close was at practically the lowest on
all deliveries.
Realizing was heavy from the start,
but offerings were very well absorbed
during the earlier trading, owing TO a
good demand from houses with Liver
pool connections, and fresh buying or
ders attracted by the strength OF
Thursday. The market opened un-
changed to 2 points lower, and after
showing net losses of about TO IL
points late in the morning, rallied sew
eral points from the lowest on the large
clearances and reports of too much rain
in boil weevil sections. Each bulge,
months sold IA to IS points net lower
late in the afternoon under continued
realizing or liquidation and local press
ure, which may have been encouraged
by somewhat disappointing weekend
figures.
Private wires received here from New
Orleans said that 10000 bales, intended
for delivery on July contracts, had been
sold in the spot market there recent
~. 1t was estimated around the local
ring that fully $4,000 or 10000 bales Of
July had been purchased in the market
here Thursday owing 70 spot sales by
people who had expected to make de-
liveries. The tendency toward wider
difference between July and October
during yesterdays trading suggested
/ that the July short interest had been
very considerably reduced, and there
was good deal Of scattering Wall
Street liquidation Of near months in the
late trading.
/ Exports for the week were 128,76S
bales, against 57,745 last year, and
Yesterdays clearances, Of S2,73l bales
! included shipments OF over 5000
bales from New York. Spinners' TAX
ings of American cotton for the week
ran under expectations, amounting 20
$50, ,738 bales, against 259,474 last year
The decrease in the visible supply OF
American was only 9,l45, against 203,-
+ 0S7 last year and 114,083 two years ago
The worlds visible supply of American
cotton is now 2,6S5,l65 bales, against g.
S58, $40 last year.
! Southern spot markets were 10 points
lower to l9 points higher, Houston be-
ing 10 points lower, while other mar
kets were generally unchanged to Is
higher. New Orleans reported sales of
1850 bales.
Weekly movement figures Of the New
York Cotton Exchange follow: Port
receipts, s6,966 bales, against 3736l
last year; overland 20 mills and Can
ada, 1922, against 8,259 last year;
Southern mill takings, estimated 10000,
against 10000 last year; loss of stocks
at interior towns, 30,295, against 1928
last year; brought into sight for the
week, 91,593, against 56,3S7 last year.
Total crop movement: Port receipts, =
323,026. against l0,572,229 last year;
overland TO mills and Canada, 1,20l ,39l,
against 1,l58,026 last year; Southern
mill takings, 3.5l0,000, against 1882
SS7 last year; stock at interior towns IN
excess OF August l, 10.4S5, against 4l2,-
SO last year; brought into sight thus
far this season, 12,044,902, against 49,
125,72l last year. The total crop move
ment is for 1913 days this year, against
329 last year.
Range Of prices: