The sun., 1919-08-16

TRADE AND SHORTS
BUY, COTTON RISING
Better Technical Position
Helps Advances Of From
SO to so Points.
CROP ADVICES BULLISH
Adverse Weather Reports
Come From Many Sec
tons Of the Belt.
CROP ADvICEs BULLIsH

The cotton market displayed q con-
slderably improved, tone yesterday. with
maximum gains OF from 50 to so points
being scored. Tho best buying took
place in the afternoon. when demand
from shorts and trade houses became
heavier. Broadly viewed. IT was more
than anything else n case Of better
technical position. owing mainly to the
fact that since the peak Of the advance
two weeks ago there has been scarcely
a halt in the slipping movement OF
values. Ring feeling was therefore more
favorable, traders believing that 1t was
only natural now for the market to
undergo a rallying period.
influential factors consisted princi-
pally In the adverse weather over the
south, and further bullish crop condition
adyices from the belt. There were really
as many factors for the bears, II not
more, but the action OF prices indicated
that Wall Street shorts were uneasy
despite Developments favorable to them.
The break in many rates of foreign
exchange was bearish. as was the rather
heavy Liverpool market. The latter
came worse than due. contracts there
closing sharply lower throughout the list
In the English centre spots were only In
fair demand at substantial concessionl
Forecasts for the Eastern and Western
cotton belts we're for partly cloudy
conditions virtually general, with local
showers and thunder storms in Georgia,
Alabama the Carolinas and Mississippi.
Map readers considered conditions In the
west Gulf also unfavorable. The
watkins Bureau report threw little
light on the subject of crop conditions,
showing that there had been a deteriora-
ton of "a per cent since July FL.
The condition as of August 7 was an
nounced as 6s.4 per cent OF the normal.
The report aroused a moderate degree
OF comment, but caused few commit
ments
Opening sales were 10 points lower
on Nav to higher on October. The
later option began at 30.45; December.
1910: January, $3.50; March. un-
changed at so.55. and May, 3O.5s. I'm
proved buying soon after the call gave
the market a steady appearance. the
trade absorbing contracts offered by
Wall Street and British interests.
Liverpool at times, though, took the
early positions. Varying fluctuations oc-
CURED throughout the forenoon, but at
the lowest points options were only a
few points off. 80
The later session was just as unin-
tsresting, with professional give and take
in evidence Some scalping profits by
room traders eased the market toward
the end OF the fourth hour, but Wall
Street shorts supported values. Southern
pressure was at a minimum. The clos
inR was not far from the best levels
IL to SO points up. with spots correspond
ingly higher.
LEGAL quotations on grain. &C.:
iCoRN--Cash nrns No. . yellow quoted
at ta.l7; No. 2 white. f2.2o c, Z. New YORK
OATs-Cash arm but nominalH un'
changed. No. ? white, ssc.; No. white
STAG; No. white. s7c.. all elevator.
RYE-steady. No. (, Western. si.si c.
New York.
BARLEY-steady. Feeding. r.47; malt
ing. $3.50 C. T. New York
BUCKwHEAT-Firm- Sound milling
tLs0 c. (. New York.
HAY.puiL No; !; .sS;;Ss; .h No; ?
ti.5o9l.to.
sTRAW-Dull. No. l rye. s1i ton.
Wheat, including -four. exports for week
according to Bradstreefs, aggregate e.3o
bushels, against 5,9s0.622 previous weel
and i.To1,sos last year; since July !. 40,
1908, against 2s,sss.os0 last season
Corn, exports for week, 4T.1s4, against IS,
GEO previous week and 5s5,S7e last year
since July l, ass 6. against s.2ss'Ss5 las
CHIcAEo PRICES