New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-05-13
COTTON ADVANCE
LOST AT CLOSE
Realizing and Selling Turn
Prices Easy-More Reports
Tell OF Drouths.

An early advance encountered re-
nowed realizing In the cotton market
yesterday, as well as increased selling
for a reaction, and prices turned easie-
with the close steady at net loss OF
from TO IL points. July contracts
sold Oft 20 1890 or 20 points below
the high level Of the week. while new
crop deliveries showed reaction OF
about 30 TO "a points. Trading was
much less active than it had been esrli-
er in the week and the selling was ac-
companied by more talk OF an easier
technical position than by any apparent
change of sentiment as TO the general
trend of values.
The market opened barely steady at
unchanged prices to a decline Of D
points under overnight selling orders,
but quickly frmed up in response to
relatively firm cables, trade buying OF
July and scattered covering. Private
cables attributed the strength abroad
to the growing strength of the Liver
pool statistics and an improved spot de-
mand. These advices probably en-
couraged the rally here.
July led the advance, selling up TO
1903 or 10 points net higher, while
new crop months showed net gains OF
from TO points before the end OF
the morning. The buying, however,
lacked the snap and aggressiyeness u
had shown during the earlier stages OF
the advance, and the market turned
easier during the afternoon with clos.
ing prices at practically the low point
of the day.
Complaints that the crop was getting
a poor start in drouthy parts OF the
belt continued 10 come in, and the
weather forecasts held out no immediate
prospect of rain in these localities, out
crop sdvices seemed TO be attracting
comparatively little attention. Some
Of the more enthusiastic bulls are pre-
dieting very high prices even II crop
indications should point TO l5,OOO,OOo
bales before the end of the season. The
market at the moment seems chiefly IN
terested in the large oftake OF con-
tracts by trade interests, the hrmnes'
of remaining old crop supplies IN tne
South and the scarcity OF both raw ana
manufactured supplies abroad.
The visible supply of American cot
ton showed a decrease of SO,3lO bales
for the week compared with decrease
of 133Igl last year, and is now g.
3SS, 981 bales against 4,750,705 last year.
This showing was disappointment
from the bullish standpoint, as 1t IN
dcated a falling off in spinners' taklngs
as compared with the previous week
and with last years figures.
Exports for the week were lO4,sOo'
against 92,503 last year. Southern spot
markets as officially reported were al
unchanged except for decline OF 10
points at Houston.
Weekly movement figures Of the New
York Cotton Exchange follow: Port re-
ceipts, 10l ,852 bales, against 1866 last
year; overland, 20 mills and Canada
l7Al3, against 0,464 last year; south
ern mill takings, estimated, 3O,OOO'
against $4,000 last year; loss OF stocks
at interior towns, 1927, against 26'-
381 last year. Total crop movement:
Port receipts, 6,754,59S, against lO,2O9',
49l last year; overland to mills and
Canada. 1,O58,273, against l,O1o,o9O
last year: Southern mill takings, $500
OOO against 2,762,Ss7 last year; stock
at interior towns in excess Of August
/, 277.5O3, against 542,672 last year;
brought into sight thus far for season.
ll.445.974, against 14,593.94O last year
Range OF prices: