The Washington herald., 1921-07-30
COTTON RISES
0NBUYINC RALLY
Reduction of Short Interest
Finds Few Offerings
For Sale.

The market started rather weak
and sold of to 10 points further
than yesterdays 12 to II points de-
cline. on a continuation Of the re-
cent movement of liquidating spec
ulstively held contracts for the last
month, somewhat better weather
and crop reports and the return of
dullness on the Liverpool and Man
chester markets after the spurt Of
activity OF the previous several
weeks. There was a good deal of
overnight selling orders and New
Orleans was weak again. Prices de-
clined to the basis OF 11H cents for
October contracts. while December
and-January went to 1896 and
March 1851. A rally in the late
Liverpool cables to the future mar
ket there, supplemented by trade
houses here turning up good buyers
in the second hour, turned our mar
ket up for a good rally in the late
trading. 1t then appeared as though
the shorts had decided to cover
their contracts or reduce their in
terest through the attractiyeness Of
the present low prices over Mon
days government crop report.
Little for sale.
SUCH
ments found little cotton for sale.
thereby indicating the market had
been well liquidated in the selling
movements and declines of the last
four days Prices rallied until the
market had been carried up about
20 points from the early low levels
and to IL and Is from yesterdays
final quotations with October SELL
ing at l212. December 1850. jan
uary lass and March 1895 before
this demand ran out or was salts
fed by a renewal of local and south
ern selling. 1t seemed to be largely
an evening-up market on both sides
over the speculative uncertainty
over what the governments report
will be. There were no other i'm
portant developments than these
during the day.
At Liverpool cotton futures nuc-
tuated in a narrow manner. selling
of to points early and then
rallying on some covering Of shorts
and finally closing quiet and steady
at a net advance OF about to IL
points on the day against rise OF
10 points due to have met our
closing prices OF yesterday. Spots
there were dull again with the
price off ! point to 7.ssd for mid
ding and the days total spot sales
down to only 3,e00 bales. the aver
age daily total prior to the spurt
of a fortnight ago. when they
ranged as high on some days as
1900 to 5000 bales.
I.0ss.ooo Bales At liverpool.
The total stock Of cotton now at
Liverpool is l.os5.ooo bales This
compares with 81 ,0ss, 900 last week.
$4,000 a year ago and 61l.o0o In
1919. OF this total. ss5,o00 bales are
of American cotton against $4,000
last week. $4,000 last year and
$4,000 in 1919. This weeks total
sales of spot cotton on the Liver
pool market are only $4,000 bales.
against $4,000 last week and $4,000
the previous week, as contrasted
with 81 900 for this week last year.
The amount of cotton actually for
wsrded from Liverpool TO spinners
Of all kinds this week was $4,000
bales. against $4,000 last week and
$1,000 last year. This included 3S.-
900 bales Of American cotton
against total imports OF all kinds
OF 1900 bales for the week, in
cluding $4,000 bales of American
cotton.
The trade is now expecting Mon
days government crop report will
make the average condition of the
crop for July IS about IS per cent
against 6s.e for June 25, IA for
July IS, last year, and 75.4 the aver
age condition for July % the past
10 years. Such a figure would in
dicate a total crop OF about s.seo,ooo
halas without linters against about
S,45o, 900 the indication for the crop
a month ago. Southern spot mar
kets were quiet and mostly un-