The Birmingham age-herald., 1916-04-21
COTTON UNSETTLED
 BY POSSIBLE BREAK
Very Little Change Has Been Reported in South
 ern Spot Markets

New York, April 20.-Apprehensions
 of a break in the diplomatic relations
 between this country and Germany have unsettled the cotton market dur ing the past week, and fluctuations have been nervous and irregular Trading, however. has remained com paratively quiet with the price move
 ment correspondingly narrow. and after selling down from 12.09c to 11.94c, July contracts closed at 12.01c tonight, com pared with 11.97c at the close Of the previous Friday. During the earlier
 part of the week the market showed considerable steadiness. There were further complaints of a late start for the new crops in earlier producing sec tions of the belt, particularly in the southern section of Texas, where drouthy conditions continued and the market was also influenced by the prompt absorption of scattered near month liquidations.
 Brokers were leading buyers of May contracts, taking that delivery at comparatively small discount as com pared with July and buying Of late months by old longs who were selling out near positions helped to absorb Liverpool straddle selling of the new crop. With the first May notices ex- pected next Tuesday, this ready de- mand for the near position exercised lstezdying influence on the general list, while the Liverpool selling of late de- lieveries was supposed to reflect ex- pectations of a wider differences rather than a bearish view of the general trend of values. Part of the demand on the advances was attributed to cov- ering by recent sellers, however, and the market broke rather sharply on Wednesday following the Presidents message setting forth the crises in the submarine negotiations.
 Trade interests continued to buy on a scale down. while the offerings seemed to be chiefly in the way of scattering Wall street liquidation and the market was quiet at the end of the week with business largely in the way of evening up for the holidays or pending more settled international situation. Very little change has been reported in southern spot markets, and there has been talk of increased south
 ern offerings around the local ring. New Orleans. April 20.-Owing to the elections here Tuesday and the Easter holidays there were only three days of trading in this cotton market this week. Prices did not show much of any movement, owing partly to the holiday feeling and partly to the nerv- ousness and uncertainty caused by the submarine issue, which tended to re- strict new business. The net change for the week was a rise of 1 to 8 points.
 The market held a steady undertone through the strength it derived from the spot department The demand for actual cotton continued good while of ferings at no time were liberal. On Wednesday the official report noted transactions of approximately s009 bales, which, however, included the business done on the holiday, Tues day.
 Prices of spots were firmly main tained throughout the week at 11.SSc for midding.
 Not much attention was given the new crop, the trade being almost wholly absorbed in international poli- tics. The weather over tho belt was called favorable, on the whole, all though portions of south Texas com plained of drouth and in the central portions of the belt much replanting was reported to be necessary because | of extensive frost damage