The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1922-04-12
THE COTTON MARKET
New Orleans.

NEW ORLEANS. April 11.-Influ-
ences were well balanced IN the cotton
market today. and the result was a
narrow range in the fluctuations.
From net advances OF 3 to 6 points In
the early trading there was = drop
to net declines of 2 to q points. Closing
prices were typical Of q good part of
session, the list being / point up to
points down net. May sold up to
1897. fell off to 1850 and closed at
1854.
Liverpool was better than expected
and reported spot sales Of 10, 900 bales.
There was too much rain over the belt,
over night, but these two bulIish fea-
lures were balanced by the outlook for
fatr and warmer weather for nearly
all sections of the cotton region. Fa-
vorabie private crop reports came from
Georgia, where much cotton was said
70 be above ground, with chopping un-
der way over an increased area. Selling
on such reports, however, was restrict
ed because OF the very large export
movement and bullish forecasts of the
March American consumption figures.
Total clearances for foreign countries
from all American ports amounted to
6l,11O bales against no exports at all
this day last year. i
According to the gossip of the mar
ket, private bureau put out figures
OF $4,000 bales as the American con-
sumption during March, This total
compared with the official figures Of
February Of 473.o7s and with 43S,21S
for March last year.
NEW YORK, April 11-Except for
q squirt Of activity toward the close,
trading in the cotton market was very
quiet today with fluctuations CORE
spondingly narrow. After selling at
17.H early. July eased off to 1928 and
closed at 1881 with the general mar
ket closing steady net two points
higher to six points lower.
An opening advance Of four to nine
points reflected relatively steady Liv-
er'pool cables and rather less favor
able early weather map than antici-
pated. There was not much buying,
however, and prices almost Immediate
~ eased off owing to prospects that
would be followed by clearing weather
and scattering liquidation After
showing net losses of three or four
points the market steadied up slightly
on bullish estimates OF domestic con-
sumption for April and favorable
Manchester advices. but no demand Of
consequence developed with prices
showing renewed weakness in the later
trading. May sold off from 1879 to
1858 and closed at 1913 while new
crop months touched the lowest prices
OF the day late in the afternoon with
October selling down from 1926 to
17.16 and closing at that figure. New
Orleans was a seller of October here
late in the afternoon, presumably on
improving weather conditions in sthe
south. Wall street was credited with
switching long contracts from May
into December, while spot houses sold
some May against purchases Of July
at q decrease of az points. Otherwise
there was no special trading feature
and March Of the small business re-
ported during the day was attributed
to evening up OF accounts In advance
OF the approaching three-day adj
tournament. Private returns were said
to indicate domestic consumption Of
$4,000 bales for March compared
with 473,000 for February and 43S.00O
for March Of last year, which was
commented upon as better than ex-
pected in view OF New England labor
trouble. Manchester cables reported
good demand for cloths from India and
steadiness in Liverpool was attributed
to spinners' calling combined with
good spot demand.