The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1922-04-19
THE COTT0N N Market
New 6fIaans,

NEW ORLEANS April is:-wide nue-
tuations, sharp apturns ana eouattx shsru
reactions featured the trading in cotton
today For a while 1t was mostly
weather market and heavy buying re-
suited from too much rain In the belt
and fear Of the effects of the cold wave
IN the west as 1t advances eastward, but
most of the gains were wiped otit when
local brokers' received messages from
washington telling Of an agreement In
the Senate to pass the soldiers bonus
bill. After trading As high as ills cents
a pound for both May and October and
standing at net advances on the list of
20 to 10 points, the market finally closed
at net advances Of only to 1S points.
May closed at 1925 and October, 1926.
LiVerpooPs refusal to meet yesterdays
advance on this side Of the water caused
losses Of to points In the early trad
Ins but when October touched 1918 the
wet weather over D good part Of the
belt commenced to tell. The unfavorable
weather conditions became more pro-
nounced when tho barometer lines were
interpreted as meaning a belated cold
snap which, 1t wRs figured, might pos
sibly extend down far enough into the
cotton country to damage young cotton.
Official returns, noting rains up to four
inches IN the central belt called Atten-
ton to the river situation and gave
prominence to reports that there were
weak spots in the levee on the west side
of the river above Matches.
After the middle Of the morning a
bulge carried the active months to II
cents and spot orders were reached on
large numbers on the side and this Rc-
tolerated the advance but in the after
noon buying power died out because Of
Washington dispatches although the
market held a steady tone to the close.
New York.
NEW YORK, April 1s.-Reports of
unfavorable weather in the south and
talk Of a continued Improvement in the
cotton goods situation led to a further
sharp advance in the cotton naarket>to-
day. July contracts sold up to 1915
and October to 1913. but met in
creased realizing at these figures clos
ing at 1855 and 1889, respectively.
The general market closed steady at
a net advance OF to 25 points, late
months being relatively firm.
The opening was l point lower on
March. but generally 2 to points
higher on overnight buying orders.
This bulge attracted realizing. which
was promoted by relatively easy ca
bles and the easier early ruling OF for
eign exchange, and prices eased off a
few points right after the call. Brokers
with foreign trade connections were
buyers OF near months, however, with
the market soon becoming decidedly
more active and firIner on reports OF
rain in the eastern belt and the fore
cast for cold weather in the west. Wall
street, western and local traders were
very active buyers on the advance
which carried May contracts up to
1912, and December to 1888, or about
81 to IS points net higher than the
general list. This made new high
ground for the movement in the case
of new crop months, and as the buy
ing movement tapered off during the
middle of the afternoon, prices turned
q shade easier under profit taking or
realizing. Private cables from Liver
pool reporting that card room opera
tors in Lancashire had agreed on the
question Of wages with their employees
providing other unions would accept |
the same terms, contributed to the
midday advance. The bulltsh features
most generally emphasized, however,
were the unsettled weather in the
belt and reports Of a more active de- |
mand for cotton goods. The latter were
accompanied by claims that cotton
prices were Improbable and that |
ma nufacturers were willing to sell only !
for spot or nearby delivery.