Evening star. [volume] (Washington, D.C.) 1854-1972, 1917-06-24
COTTON MARKETS.

NEW YORK. June 23.-The cotton
market showed renewed strength TO-
day, with prices making new high rec
ords October contracts sold up. to
1s.7s. making an advance of SO points
from last nights close and of 23s
points from the low level reached on
the break of Wednesday. That delivery
closed at 26.63. with the general list
closing irregular at a net advance of
81 to ~ points.
The opening was steady at an adj
vance OF "a to 81 points on overnight
buying orders attracted by the strength
of yesterday. Demand was not more
than moderately active and there was
no excitement. but offerings were very
light. with bullish sentiment strength
ened by unfavorable crop advices, par
selling about ~ to 56 points above last
nights closing figures. prices reacted
several points under reali1ing. but soon
hrmed up again on reports that the
government had closed contracts for
so 600, 900 yards Of cotton duck.
Prices reached the highest point on
this bulge. with July selling at 2s.ss,
December at 1854 and March at ZIP.
or 81 to 50 points above last nights
closing figures. Realizing then became
more active and fluctuations were ir-
regular late in the morning. with the
close showing reactions of some 10 or
Is points. Nothing more definite was
learned with reference to the POSSIBLE
ity Of reopening the Liverpool futures
market next week. Cables from Man
chester said that the closing of Liver
pool had disorganized trade with
many spinners and manufacturers re-
fusinG to quote prices until conditions
were more settled Press reports from
Paris indicating that the cotton ex-
change at Havre was to be closed at
tracted no special comment. The early
advance was prompted by the report
of southern authority indicating
crop condition of over ST. compared
nf
at the end of last month. This report
also said the government report on
acreage was expected TO show a de-
crease Of between 4 and p~- opt
Port receipts today were s,5o5 bales
and 7.o44.955 for the season. exports
today, none and 5.13i.e47 for the sea
son. Stock. 1895.
NEW ORLEANS. June 23.-Todays
session in cotton saw another stiff
rise in prices and new high levels on
the more distant months as the result
of demand chiefly inspired by the
continued droushty conditions in Texas
The inquiry was met by extremely
ecanty offerings. even week end real
tzing by owners of long contracts be-
ing on smaller scale than usual. At
the best of the day active months
were 81 to 81 points up and the close
showed net rise OF ~ to 40 points
The news Of the closing of -.e Havre
cotton market by the French govern
ment was considered a bullish feature
since it illustrated the scarcity OF cot
ton abroad. Rumors that cloth bust
ness mas been coming to mills on this
side of the water which ordinarily
would be placed with European mills
appeared confirmed by increased TAX
fngs OF raw cotton by American mills
the southern division taking 10000
bales this week. against $4,000 this
week last year. while the northern
division took 10000, against $1,000
In the spot department the tone was
steady and local prices were 81 poinfs
up to 1925 for middling a new high
record, on sales all told of 2,lI0 bales