Evening star. [volume] (Washington, D.C.) 1854-1972, 1917-01-28
COTTON MARKETS.

NEW YORK, January 27.-A renewal
of peace rumors was accompanied oy
rather an active demand In the cotton
market here today and sharp advance
in prices. May contracts sold up to
1885. or "a points above yesterdays
close. That delivery closed at 1852,
with the general list closing very
steady at net advance Of 80 to 81
points.
The market was comparatively quiet
during the earlier trading and an OPEN
ing advance of to II points encoun-
tered some realizing for over the week
end. After selling at 1T.41 May eased
off to 1896 and the general list sold
back to within or points of last
nights closing. The market very
soon frmed up. howeveS on an IN.
sources. while there was also trade
buying on the advance which carried
active positions about 80 to 80 polnts
net higher in the late trading. This
per bale from the low level reached
yesterday. Liverpool was closed and
Manchester cables reported very dun
trade in goods and yarns. The week
end figures also showed considerable
falling off in the amount on shipboard
awaiting clearance, which suggested
commensurate decrease in the export
movement. These features may have
promoted the early tendency to take
profits for over the week end. but
the optimistic view of peace prospects.
Part of the demand from Wall street
sources was attributed to covering,
but there was also buying believed to
be for long account This was sup
posed to be encouraged by the bullish
view of statistics which has recently
received considerable publicity. and
also by the continued steadfness OF
southern spot markets. Western goods
distributors report current business IN
excess of last year, and some improve
ment was reported in the demand for
cotton yarns. Sales at Fall River
were moderate. being estimated at
100. 900 pieces for the week, against
Port receipts today were 10.9S4 bales;
for the season. 5.443.954; exports today,
1855; for the season, 3,677,25S; stock,
1,373,473.
NEW ORLEANS. La, January ~
After hesitating and losing couple OF
points on the opening today cotton
firmed up in a most decided manner and
bale, chiefly on peace talk and the
strong bullish showing made by the
weeks statistics. The market stood at
it's highest, late in the session. when
it was 80 to SO points up. and closed
very steady at net rise of 81 to 81
points. 1t was a small affair at its
best, moderate buying being met by
only scanty offerings. Sentiment was
more bullish than for many sessions
past.
While most of the buying was for
long account it was apparent that
weaker shorts were nervous over the
development of features tending to IA
vor a higher range Of values, and their
covering late in the morning had some
thing to do with the hardening tone.
Peace talk was confined to two re-
ports, one to the effect that Russia had
Endorsed the most recent utterance by
President Wilson, and another to the
effect that 1t had been predicted in
diplomatic circles that another peace
move would shortly come from the Teu-
tonic allies.
In the matter of statistics most con-
Germ was evidenced over the shrinkage
in supplies, the effect of which was in
tensified by dispatches from Manches-
ter, England, stating that the chamber
of commerce there had called upon the
British government to open and foster
new sources of supply within the en-
pire.