Evening star., 1917-03-18
COTTON MARKETS.

NEW YORK, March 17.-There was an
advance of over $3.50 per bale in the cot
tracts for instance. sold up to 1791, or 81
points above last nights close, While
October sold at I'LL, or IS points net
higher. The close was a few points on
from the best under realizing. but the tone
was very steady at net advance OF IL
tc SO points.
The market opened steady at an ad-
vance of to 10 points on covering.
Business was comparatively quiet early
in the morning, but became more ac-
tive as prices worked upward. with
shorts urging buyers Of the advance.
There was also buying by trade in
terests of old crop months, while there
was demand for the new crop from
houses with Liverpool connections and
from outside sources. The cheerful
tone of advices from Russia undoubt-
ediy contributed to the advance, while
much of the buying was believed TO be
covering by early week sellers on ex-
pectations that the railroad difficulties
would be settled over Sunday. Stop
orders were uncovered on the advance.
which carried active positions 80 TO
80 points net higher late in the morn
ing May closed at 1856 and october
at l1.l2, or about to IL points off
from the best. New crop deliveries led
the advance, being Influenced by re-
ports of further rains in the eastern
belt and the forecast for frost in east
Texas, extending nearly to the
coast. Reports that further ship
ments of cotton were to be expected
from the local stock, and that one block
of 5000 bales would go to Savannah for
export We're one of the factors on the
advance in the near months. and there
certainly seemed TO be IL more optimis-
tic feeling as to international condi-
tions around the ring. The bulk of the
buying. however, was attributed to the
more hopeful view OF the railroad sit
uatIon and increasing anxiety over the
ne~ crop outlook. Large sales Of print
the week, and western dealers were
quoted to the effect that fresh business
was in excess of the coTresp sponding <
time last year. Rather bearish features
I'm the weekend statistics We're attrib-
uted to delayed distribution
Port receipts today We're 1878 bales,
ana o.O42,tS3 Tor the season: exports
today. 20.135 bales; for the season, A.
2l3.4s6. Stock. 1.2ls.i2s bales.
NEW ORLEANS March 17.-In the
face of the railroad labor situation cot
ton today made a pronounced show of
strength. rising nearly $3.50 Il bale on
the most active months in the contract
market. Buying was not large in vol
uInc, but the demand was met by only
scanty offerings and brokers' found
! some difficulty in filling buying orders.
Recent sellers appeared TO want their
cotton back and TO even up over Sun
dag. while buyers for long account
stood ready TO increase their commit
n,ants. even though they were willing
10 concede that a nation wide strike
would be a bear influence against cot
ton values. The steady tone was car
ried to the close. which was at a net
gain for the day of Fl to % points.
AT the topmost levels prices were "a TO
29 up.
J Vita Liverpool closed. the market paid
slight attention to political developments
abroad. In the early trading there was
| a gain of about ten points. and without
any important setbacks the rise was
| gradually widened, highest prices being
| reached late in the session.
| Back Of the buying seemed to be the
| idea that any depressions over labor trou-
bles would be only temporary: that or
, the first opportunity the movement of cot
! ton to mills would increase. and that the
| demand for actual cotton, in the end
would only be improved by present diff
i culties.