Evening star. [volume] (Washington, D.C.) 1854-1972, 1917-04-29
COTTON MARKETS.

! NEW YORK. April 2s.-An opening
| decline was followed by rather an ex-
cited advance in the cotton market to-
day with July contracts selling up tic
| 1886 TO 2026 and closing at 1920 The
general list closed irregular at net ad
vance of 20 to 80 points
| There was scattered selling on the
! opening decline of 5 to IL points owing
| TO reports of good rains in the south
west. About the only weather COM
| plants received during the past week
| have been based upon reports of rain
| in parts of Texas and it seemed the
! impression this morning that the
drought had been relieved. The rains
however. were accompanied by lower
| temperatures than were considered de-
| sirable. and the market very suddenly
| rallied on renewed covering. There
} was also further trade buying of new
crop months supposedly against for
ward requirements and it seemed that
there were very few contracts for sale
around the ring. At any rate, prices
shot up rapidly with May selling up to
20.3S and October to 1888 in the late
trading. when active months generally
showed net gains Of "a to So points. The
close was at a shade off from the best
on most positions under realizing. Ex-
cept for the low temperatures in the
belt. uncertainty as to the acreage, the
comparatively sharp falling off in the
visible supply figures for last week.
and reports of large pending gov
eminent orders in the goods markets.
there appeared to be nothing in the
news that was particularly emphasized
on the advice. The technical position Of
the market. however, was considered
firm and when shorts turned to cover
they evidently found it very sensitive
to buying orders. Reports that the
government had decided not to accept
war risk insurance on sailing vessels
the activity of submarines. but evil
IDENTIFY failed to create sentiment. Week
ly reviews of the crop indicated gen.
orally good weather. and one of the
private reports showed a fair increase
in acreage in Arkansas. An inclination
to increase acreage was also reported
in Tennessee. but the crop was reported
late in both states. Fall River sales
for the week were estimated at 10000
pieces against 10000 last year. A
good demand was reported for cotton
yarns to be used in the manufacture Of
duck
Port receipts today were 1855 bales
and 6,50O,4l3 bales for the season; ex-
ports today, none. and 4.s14.2l1 bales 70,
the season: stock. 1,306.7s0 bales.
NEW ORLEANS. April 2s-Strengtt
was shown by cotton here today and
prices were forced nearly 81 bale
higher on the most active months ir
the contract market by fear Of colder
weather in the belt and q marked i'm
provement in the spot demand at higher
quotations. Steadiness was maintained
to theclose. which was at net gain OF
10 to IS points. At the highest levels
the market was "a to 81 points up.
Around the opening a tendency tc
fall of under selling based on rains In
Texas was shown and prices went
to z points below yesterdays close
Complaints of too much rain at some
points in Texas, the forecast of frost
for the northern portion of that state
and the outlook for lower temperatures
for a large portion of the belt caused
fear that the cold wave would extend
far enough south in the belt to reach
young cotton. Buying resulted anc
prices were sent about dollar bale
over yesterdays Anal figures.
Toward the end of the session re.
ports of a large spot business after
hours yesterday and signs of con
tinued good demand today at highe,
prices further stimulated the demand
and sent prices to new high levels. TIL,
official spot report quoted the market
dollar a bale UP on sale of s,141 bales
the largest spot turnover for a singl,
session in many weeks