The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1922-04-06
THE COTTON MARKET
New York.

NEW YORK, April yesterday g
buyers were evidently disappointed by
a less unfavorable weekly report from
the weather bureau than anticipated,
and the cotton market was easier to-
day under liquidation and New Or
leans selling. New crop months were
relatively weak with October selling
off to 17.01 or 20 points net lower, and
the close was barely steady at a net
decline Of seven to twenty points.
The market opened steady at an
advance Of seven to nine points, on
the steady showing Of Liverpool and
rather q more hopeful view of labor
conditions referring both the New
England textile strike and the trou-
bles in the English engineering trade.
The generally firm ruling of foreign
exchange was also an encouraging
factor, but the market soon turned
easier under liquidation promoted by
clearing weather in the southwest.
Expectations of a bullish weekly re-
port from the weather bureau and the
Feastern belt forecast for showers held
selling in check during the morning,
but the weekly review read less bull
ishly than anticipated and the market
was easier during the afternoon. July
contracts sold off to 1926 and De-
cember to 1893, with the general list
showing net declines of nine to 20
points in the late trading and clos
ing at about the lowest prices OF the
day. There was probably some buy
ing early on the views OF local map
readers who thought that the clear
ing weather in the southwest would
be followed by unsettled conditions
before the end Of the week, but gen.
orally speaking weather and crop
news seemed to make a more favor
able impression on sentiment and yes
terday's buyers Of new crop months
were among the more active sell-rs
during today's trading. Houses with
New Orleans connections were active
sellers here at times during the day,
particularly of July and October. Liv-
erpool was an early buyer and there
was some selling for foreign account
otherwise, but it looked as though the
scattering short interests had been
the previous day, leaving the market
with comparatively little support.
New Orleans.
NEW ORLEANS, April 5.-A much
better opinion of the new crop sit
uation caused g. gradual sag in the
price Of cotton today, following an
upturn Of four to seven around the
opening. Statistics which showed in
creased sales of fertilizers and private
kilograms to brokerage houses here,
stating that young cotton was being
chopped in some portions of southern
Georgia, carried the market to its low
est, where it stood at net declines of
II to 10 points. The close . was at
practically the lowest. May traded as
low as 1855 and october as low as
1881.
Early advances were due to better
cables than expected but the market
soon reacted because the weather map
indicated less rain over the cotton
belt while the forecast called for dry
weather in all states Of the western
belt.
Following the weekly crop review
by the government selling increased
in a very moderate way, for it was
more favorable than expected and
noted fast progress with planting in
the eastern belt, although, at the same
time, it told of delay to getting >he
crop into the ground in portions o:
both central and western belt.
Figures on fertilizers by Hester
placed total sales during March in
eight cotton states as >10,44G tons
against 1888 during the same month
last year, bringing the grand total for
eight months of the season up to L.
ss1 3s2 tons against 1,372,c21 during
the same period last year.