Evening star., 1917-01-07
COTTON MARKETS.

NEW YORK, January 6.-The cotton
market showed increasing activity and
strength this morning with May con-
tracts selling up to 1858 or 40 points
above Fridays close and more than
sII.15 per bale above the low level OF
last month That delivery closed at
1850, with the general list closing
steady at a net advance OF 70 10 90
points.
The market opened firm at an ad-
vance of 3 to II points on a renewal OF
Yesterdays buying movements. which
was encouraged by bullish week emo
figures, overnight spot advices ano
reports of continued activity in the
western goods trade There was reanA
ing, which caused some irregularity, but
offerings were absorbed by the buying
of spot houses and a broadening out
side demand which included consider
able support from Wall street ano
western sources. Some OF the carry
sellers, who had expected a reaction
under week end realizing. covered as
the advance continued and the point
was reached late in the morning with
March selling at 1910 and July at 1s.10
or more than So per bale above last
nights closing figures. Realizing caused
reactions of or points in the late
trading, but offerings were compare
lively light during the entire morning
AS usual on Saturday Liverpool was
closed, SO that there were no cables to
to be nothing in political news to
create any fresh view of peace pros
poets or the ocean freight situation
Local brokers, consequently, were in
clined to attribute the advance to a
gradual revival OF confidence and q
moderate improvement in trade demand
combined with continued firmness In the
interior spot markets. Business in Fall
River continued light. sales of print
cloths for the week being estimated al
only $4,000 pieces. but no accumula-
ton of goods as reported and manu-
facturers were said to be maintaining
prices. Fertilizer interests report that
sales for this years cotton planting
have been heavy SO far. with indications
pointing to a larger use of fertilizer
rains were reported east of the Mis-
sissippi yesterday, but no further pre-
cipitation occurred in the southwest
where rainfall. up to the end of Decem-
ber. was below normal. Port receipts
today. 25.639; for the season. 5,061.5S9;
exports today. 2o.O85; for the season
2,260.S69 Stock, 1.500.S06.
NEW ORLEANS. January "a bulge
of almost 81 bale resulted in cotton
here today from a demand stimulated
by reports of an increased inquiry for
spots in the belt at rising prices. Trade
houses representing spinning interests
and spot people were set down as the
heaviest buyers Of futures. The mar
ket opened at the advance, which was
well maintained throughout the short
week end session. the highest prices
being made toward the close.
In the early trading prices rose Is
to 16 points. kilograms from the in
terror saying foreign buyers were bid
ding as high as 1850 a pound, basis
middling. at interior points. without
dislodging cotton, increased the de-
mand and the market was later on
still further stimulated by the rise of
25 points in spot quotations here. Late
in the day active months were 80 to 43
points up. The close was very steady
at a net rise of "a to 80 points
October did not follow the advance
well. showing little Of the strength
which marked 1t earlier in the week
One theory for this was that straddlers
were reversing their position in order
to secure profits.