The sun., 1919-10-23
COTTON OPTIONS GO
TO HIGHER FIGURES
Active Months Touch New
High Levels for Movement
at Peak Of Advance.

The cotton market was yesterday
Rrong again. the peak of the advances
carrying active options to new highs
TOT the movement and dangerously near
the seasons best approx imately az A
pale above the previous finals. Bullish
Ieeiing was dominant apparently at all
stages. and factors that had been ruling
influences exerted power yesterday. The
weather was still unfavorable rains be-
Ing general over the belt ana heavy at
many points. The weekly report bors
out all Of the trades expectations re-
Earding deterioration in the Southwest.
ana there were not few private wires
calling the crop situation q calamity.
Precipitation was 1.02 at Abilene. 1, ,2s
at Pensacola, 1.3a at Little Rock, and
more than u inches at Dallas and con-
siderable at other points. Everywhere
were Indications of cloudiness, with
chances for further wet weather. In
commenting on conditions tho weekly
Government report says:
Continued rainy weather and insuffi-
Client sunshine were unfavorable for de-
velopment OF late cotton west Of the
Mississippi River. and the crop dete-
riorated during the week in nearly all
parts of that area. In addition picking
was entirely suspended or progress was
sreatly retarded. as considerable damage
has been done to open cotton by discol-
GRAFTON. with complaints of bolls decay
Ing and seed sprouting in bolls In some
sections"
Liverpool cables, which were again
higher than due. were also q factor, that
market continuing nrm all through the
trading and closing sharply higher
Spots there were once more In good de-
mand and sales OF 10000 bales were re-
ported. Not only was the strong securi-
ties market here q power toward bring
ing sentiment over to the bull side. but
early Improvement In sterling exchange
added further to the feeling. Fear that
the special crop report. to be issued on
October 81. according to private des-
patches, will be bullish. was at all times
check on offerings, and the stream of
private advices relating to the strong
spot basis in the South had more than
ordinary effect There is a veritable
scramble to obtain good grades Of cotton
In the South.
A Arm tone prevailed at the opening
here, first sales being 20 to IS points
higher. There was steady demand on
the part Of trade interests. Liverpool
buying near and selling far months.
The South supplied most Of the contracts
and offerings were readily snapped up.
For the start prices took an upward
course. stayed only at times owing to
some scattered selling by professionals
for profits. which to say the least. was
remarkably email. considering recent ad-
vances. Tho best buying of the day was
in the late afternoon, when certain
Western interests became interested.
That support and steady demand sent
out by local commission houses all
through the session. easily took care of
what pressure there was and advanced
o%a S,ninfa
proximately q cent a pound. other de-
lireries rising in proportion. 1t was only
natural that the final few minutes Of
trading should bring out some profit
taking, and as this was the case slight
reactions occurred late In the day and
carried the list sharply of from the best
of the session, but the undertone re-
mained at the strongest point. Final
bids were SO to 40 points higher. the
finish being barely steady on New Or
leans easing.
panSa NJ rficea. Tues