The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1921-11-18
THE COTTON MARKET
New orIeans.

New OrteanSs
NEW ORLEANS, Nov 17.-There
was less certainty about the price
movements Of the cotton market today
and while the trend was generally low
er during good part OF the session the
trading was punctuated by frequent
upturns, not well sustained, but suffi-
cient to prevent the market from wear
ing a decidedly bearish account
The close was typical of the whole
session, prices being unchanged to Is
points down, compared with the close
of yesterday, December standing at
1898
The main influence Of the day was d
private bureau report of 1900 600 bales
ginned to the 14th of November, a
larger total than generally expected
and indicating an output for this last
ginning period of 654, 600 bales. Fol-
lowing these figures much talk was
heard OF a total crop in the neighbor-
hood of s,000,0 900 bales Another SELL
Ing influence of Importance was the
claim of freer spot offerings in the in
terror and a cheaper basis.
Opening lower under poor cables, the
market was soon feeling the effect of
Tie bI1NdLC B1l4HiuB returns anu, with
reactions every now and then, the de-
cline continued until It amounted to
81 to SO points, which. carried Deem
her off to 1874 cents a pound Cover
ing by shorts and cablegrams from Liv-
erpoo1, saying that it looked as if the
spinners would not be able to secure
the 80 per cent majority of votes to
put through concerted short time, were
responsible for the, less deciding trade
on the short side in the afternoon. al
though bearish-comment on ginning
still continued
New York.
NEW YORK. Nov. 17.--Forenoon de-
clines due to persistent weakness OF
Liverpool and rather large pricate gin
ming returns than anticipated, were
followed by rallies in the cotton mar
ket today. January contracts sold up
from 1914 to 1873 and closed at 1853
compared with 1870 at the close yes
terday. The general market closed
barely steady at a net decline Of one
to 16 points.
The market opened steady at a de-
cline of 10 to Is points in response to
lower Liverpool cables. but rallied right
d1L6I the Gelil Seil4lS DdGA 20 Ut a SIdue
above last nights closing figures on
covering and local buying promoted by
reports of better tone in the early
stock market and the early firmness of,
foreign exchange This bulge met con-
siderable selling by the south and to-
ward the end of the first hour there
was heavy Liverpool selling here which
promoted liquidation by some Of yes
terday's buyers on rumors of bullish
figures.
December eased off to 1856 and
March sold down to 16.47. making net
declines Of "a to 80 points on the more
active positions. Offerings then be-
came smaller and the market rallied
during the early afternoon on new COW
ering accompanied by reports ofsan i'm
proved spot demand in the south and
increasing difficulty in buying cotton
OF anything more than one-inch staple
Business was not active but for
time prices showed considerable firm
ness with December selling back to
1857 and March to 1851 with January
and later months showing net gains or
Z TO points while December recovered
to within a point Of last nights closing
ouotntinn Last prices were several
points off from the best under realiz-
ing or scattered selling in anticipation
of easy cables again tomorrow. A
prominent Liverpool firm cables that
II was doubtful whether Lancashlr
spinners would vote for half time but
the weakness of the Liverpool market
was attributed to poor Manchester re-
ports and small offtake. Private re-
turns pointed 70 ginnings OF 100000
bales to November IA, which was above
yesterdays rumors but Indicated a very
small outturn for the period.