New-York tribune., 1919-03-29
In d IL S trial
Cotton

Fluctuations in cotton were not as
large yesterday as Thursday The
market was strong all through the day,
and at the close it was steady New
style contracts at the end of the ses-
sion were 90 points lower to 1S points
higher, compared with the final of
Thursday, while old style deliveries
showed loss Of 20 points to an ad-
vance of 10 points.
Among the factors which had a bear
ing on the markets action Yesterday
was buying by cotton houses in Liv-
erpool. 1t was estimated that 10000
bales of cotton were bought by these
houses for their clients. There was
an early demand, and this demand WAS
partly satisfied by selling by houses
IN the South, principally New Orleans
This selling was for the speculative
element, and represented the changing
OF pronts on paper to cash.
Spectators who deal through Wall
Street houses also did corsiderah bic
business in the market This buying
was in the nature of obtaining cotton
to deliver which had been sold short
on Thursday by spectators, who an
ticipated decline
While there was some buying for
actual consumers, there was not as
much as on Thursday and Wednesday,
1t was remarked by market observers
that mills seem confident of the situa-
tion at this moment. This is evidenced
by the fact that they do not show any
disposition to enter the market in any
volume to buy cotton for future deliv-
cry against their actual needs This
may be that they do not expect prices
70 show any wide advance between
now and the time when they need
the cotton.
Holders of cotton on plantations and
at country points, these being the own
ers of the cotton, are not taking
proper care Of it, according to infor-
nation which has reached the trade.
In some instances, when the staple
had arrived at the compressers' TO be
prepared for the market, it had been
found in such condition that from 90
to 100 pounds had to be taken from
the bale before it would be up to the
regulations for delivery.
1t was estimated that between and
10 per cent Of the stock which still is
IN the hands of the growers and hold
ers on the plantations and at other
country points will be lost because the
proper care has not been taken of it.
Less care of the cotton is being taken
IN some quarters. it was said, than is
taken of bale of hay, and the cotton
IS far more valuable than the hay
This outon which is taken from the
bale can only be sold as damaged
pickings.
Exports totalled 26,69S bales, making
1881 695 bales for the season, against
3,046,590 last year. All of the cotton
which went out of the country yester-
day was consigned to Japan and China
In this connection attention was called
to the fact that these countries are in
need Of cotton. Japan now has the
Chinese market. England, before the
war, controlled the market for cotton
goods in China, but during the war
Japan has gotten a foothold there.
Reports in the afternoon to the eff
feet that foreign relations representa-
tives of the peace conference have
agreed to remove all commercial re
strictons on German Austria as soon
as necessary precautions have been
taken to prevent reeXportation to Ger
many dnNbtless also contributed to the
action of the market. This report was
regarded as a forerunner to the lift
ing OF trading restrictions with the
neutral countries.
The local market for spot cotton was
quiet. and points lower at 2825c for
middling upland, compared with 2s.3Oc
the day before. The exchange was
closed year ago because of Good
Friday
The range of prices follows:
OLD STYIE