Pine Bluff daily graphic., 1919-04-12
Market News
New York Statement.

NcW Ofk, ApTll Ill., l HeIC WClc further advances in the cotton mar kct during the earlier part of the past week with the new style con tracts making new high records. Re- ports of better prospects for an ear ly conclusion of peace, indications of an improving trade demand, further delays in new crop preparations and the strength of Liverpool were the leading news factors on the advance and seemed to be creating more active speculative demand. The mar kct met a good deal of realizing, how ever, and there were reactions later in the week accompanied by reports that the south was offering spots more freely at the high level of pries. First weekly review of crop con idition by the weather bureau for the season, published Wednesday, indi- cated that crop preparations were about two weeks behind. at the end of March, but was no more bullish {, than anticipated. According to local spot brokers, both the export and do- mestic demand for spot cotton has been more active than for some weeks particularly for the lower grades. ! People in the yarn trade say that cloth manufacturers are being educat- ed to using yarns made from. these flower grades, which are considered relatively cheap at the prevailing dis counts.
 Rumors have been circulating that Scandinavian countries have estab- lished large credits here and cable Ewasreceived from Amsterdam stating Germany will be able to borrow a bill lion dollars from neutrals if permit ted by the Paris conferences.
 The closing of the British mills us. ing American cotton for forthnigh1 from yesterday seems to have stimu lated the demand for goods in tht Manchester market and Liverpool in terests have been active buyers here The French government is said tc have authorized importations of 450, 900 bales of American cotton, begin ming on June 1st.
 l New York Cotton.
 New York, April 11.-An early ad vance in the cotton market followed iby sharp reactions on prospects fol better weather and talk of increased spot offerings. The general list clos points on the new style months. Nc fresh feature developed in the ole style positions, which opened l2 to G points higher and closed 25 points higher to 70 points lower.
 i The market opened firm at an ad vance of P to 38 points on new style months which sold 35 to 43 points nct higher during the early trading or the relatively firm cables and unfa vorable early weather map. There was good deal of realizing which became more active after the publica ton of the forecast for improving weather and reports that the south had considerable cotton for salt around the present level of prices.
 Liverpool was buyer on the scalt down and there was also some do Imestic trade demand but the mar. ket was weak and unsettled during the early afternoon. The bulk of Ipressure, however, was attributed tc realizing and the market turned firmer in the last half hour on the for. eign political advices and covering.
 London advices estimate that the closing of mills using American cot ton in England for a fortnight will reduce the consumption by 80,OOt bales but local spot brokers say tho demand from exporters and domestic buyers during the past three days has been more active than for some weeks.
 Cotton spot quiet; middling 28.45
 Cotton closed: Steady.