New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-06-17
Industrial
Cotton

There was 2 sharp recovery m the
cotton market yesterday. After me re
action of a little over cent g pound
from the high records OF last " cdne5i-
dav offerings were smaller, while Dull
ish croD and trade advices encourage
renewal of demand. October con
tracts sold up 20 24.G9, making an az
vance Of about half a cent from me
closing price of Friday and OF z. points
from FRIDAYS low level. That delivery
closed at PAST, with the general lIsI
closing at net advances Of 45 10 oil
points
The mid-month report Of prominent
local authority, issued before the open
ing. indicated an Improvement or less
that per cent in crop pro poets since
the compilation OF the government
June estimate. The report made the
condition us, compared with 10Y
toward the end Of May; commented un-
favorablv uDon the uneven distribu-
ton of rainfall. and said that many
farmers expected the July report TO
show reduction Of between 3 and D
per cent i'm acreage. Weekend crop re-
views were also Unfavorablc. Brad
streets" commented on the dry. hot
weather in the southern hair OF tine
/ belt, and said plants were small ana
| backward in the northern half, altnou -h
| the weather has been more suitable.
/ Early adviccs from North Carolina SAID
/ that temperatures were too low. Tho
/ forecast was for generally talr ana
warmer weather, which was favorable
! in Northeastern sections. but VIII
| held out little hope Of relief for the
| Southwest. Large sales Of print cloths
were reported in Fall River for the
week. The production OF the Fall River
mills was said 20 be closely sold mp for
/ the next three or four months, witR the
market about cleaned up, so far as spot
supplies were concerned. Manchester
cables reported business in cloths
checked by the high prices, but a strong
market for yarn, with q steady dc
mand.
Notwithstanding that big jumps in
wheat prices took place as result OF
the smallnoss Of the 1917 crop I'M
dicated by the government June crop
report. later unofficial advices Of inn
proved conditions have brought the
market back TO virtually where values
were a week ago Corn shows a de-
/ cline Of 11sc 10 1iic for July delivery.
| but gains of &c 10 So, for deferred
options. Oats advanced during the week
/ &c to 2itc and provisions Zoe TO 6Oc.
3 II had been generally expected that
/ the wheat crop improvement noted in
the government report would be much
greater than turned out 10 be the fact.
Consequent upturns i'm prices on this
account were further emphasized by "a
big falling off in the United States WISH
bic supply total on Monday. but nearly
ideal weather conditions on all the
days following tended gradually TO
weaken the market Reports Of in
creased arrivals of wheat I'm Great Bri-
tain and Of liberal floating supply
counted also against the bulls.
Cold wet weather which kept the
growing corn crop to a large extent
at standstill was chiefly responsible
for price gains scored By that cereal
| The July option was relatively weak
owing TO the closing out Of speculative
holdings rendered unattractivc by the
recent fixing OF a maximum price. EX-
port demand had bullish effect on
oats. Crop reports, though. continued
optimistic. and estimates Of Canadian
acreage were enlarged
No.fI...f- I~......,. w.