Newspaper Page Text
10
‘Market Quotations For Week. Ending June 16, 1914
REVIEW OF COTTON MARKET
The contest between the bearish and bullish element during the week
ended in slight favor of the former. The bears had the best of the news
throughout the last six sessions, and as a result several points were sub
tracted from values. Professional selling and scattered liquidation, due to
perfect weather conditions for the growing crop and pessimistic advices from
Liverpool, which stated that the demand for spots was poor.
The selling was accredited mostly to foreigners, as Liverpool and the con
tinent seem to be bearish on trade conditions. Nevertheless, leading spot in
terests on this side of the “pond,” which usually represent foreign accounts,
appeared to be absorbing the further liquidation of July ‘“longs.”” However,
the pessimistic advices from abroad furnished a good explanation for the con
tinued depression in the value of the actual, as well as the curtailment in
spot sales, which have averaged about 4,000 to 5000 bales a day for the last
week. It is believed, however, in conservative quarters that spinning inter
ests on the other side, as well &s on this side, are planning to work on their
present surplus for a while, with the end in view of replacing the stock when
values sag to an attractive enough level for them to re-emter the market. It
is 4 well established fact some of the mills missed their market just before
the last bull campaign, and since then they have been operating on the
hand-to-mouth policy. Leading interests, however, may continue to support
the market around current levels, awaiting an unfavorable turn in the weather,
As a whole the market at the moment is quite steady. But just whether it
can hold at these prices in face of favorable weather is a question that no
one is attempting to answer. But from a market standpoint of view it looks
as if It will require an increased inquiry from the leading interests, to
gether with a firmer stand by the bull element, to sustain present values, It
has been noticeable for several days that a ‘long” trailing interest has
switched from the July option into new crop months, especially October and
December,
Sentiment has become quite bearish and talk is heard in some quarters
of 12-cent cotton, contingent, of course, on the weather. On the other hand,
well-posted cotton men say it would be ‘well not to follow the-decline too far,
as the market will be particularly semsitive to unfavorable weather this sum
mer because of the poor start Texas and Oklahbma had.
A report issued by a leading New York spot house, which usually advocates
the bull side, pointing out a yield of only 13,109,000 bales, was rather interest
fng bul unaffectable on the market. To show how bullish this house is, Texas
wuas only te contribute 2,900,000 bales, which would have been out of order,
even if Texas had not been relieved of the spell of wet weather as soon as
it was. liven some of the more bold doubt that the big State is in as bad
shape as this would indicate. Naturally, it I 8 to be expected that the pro
mulgator will offer to make corrections, now that the entire cotton producing
area has been visited by most favorable weather and farmers sending in tete
grams lo the effect that fields are almost in perfect shape, especially in the
Fastern and Central States. Most encouraging of the batch of crop advices
during the week was the news that Texas and Oklahoma will raise a crop just
as large, if not in excess of last season’s yield. One &f the oldest and most
conservative crop reporters, F. M. Cordili, sent his house a very bearish report
on the condition of the Georgia and Alabama crops. Mr. Cordill is just com
pleting a tour of the Eastern belt, and he has yet his first bullish circular to
send. J. M. Anderson, representing a large New York interest, sends his house
the most favorable telegrams that could be asked from the Carolinas, with
the exception of a few scatiered sectioms, where conditions have not fully re
covered from the severe setback of a few weeks ago. However, Mr. Ander
gon is still inclined to the bulls’ side. ;
On the other hand, a leading New Y ork trader, who cut a big figure in
1910, and who knows Texas as well as anyone else, says he can not determine
whether Texas would be better off with or without rain. If it rains, farmers
can't cultivate, and if it don't, the cotton that is not up won’t come up. He
says the State can not make over 3,500,000 bales at the outside.
““At the moment the outlook appears to be improving fast, for Texas has
had a surcease of torrential rains and the Heastern belt is no longer in the
grip of drouth,” says the New Orleans Times-Picayune. “Yet it would be
foolish to {magine no damage ifi either case can be entirely undone, and it
is inherently probable, if not absolutely cértain, that a permanent impress has
been left on the promise.’ 3
Just now the trade is anxiously awaiting the forthcoming Census report{
on acreage and the condition of the crop as of June 25, which will be posted
July 3. The trade is looking for a slight improvement in conditions over |
May 25 and an increase in acreage. Be that as it may, condition figures wiu}
compare with 81.8 per cent as of June 25, 1913, as compared with 74.3 per cent
as of May 25, 1914. The total area of 35,642,000 acres of cotton was in cul
tivation in the United States last year, according to the preliminary estimate
of the United States Department of A griculture’'s bureau of statistics an
nounced last year on July 3. This compared with 34,766,000 acres, the revised
estimate of acreage in cultivation the year before and 36,045,000 acres in 1911.
In the meanwhile, the course of events will be governed by weather condi
tions.
TUESDAY’'S REVIEW:
NEW YORK, June 23 —Cotton was
offered by houses with Liverpool and
Continentyl branches at the openini of
the cotton market to-day nad rst
prices ranged from net unchanged to 3
points off to 1 point higher than Mon
day's close. The pressure, however, was
not heavy, but looked to be better than
the buying, based chiefly on continued
favorable weather and crop advices. At
the end of the first thirty minutes the
list had widened its decline to 8 to 7
points.
These levels invited active buying by
the leading bull houses and the ring,
bringing about a rally of 1 to 5 points
from the opening range during the fore
noon.
The feature of the early trading was
the contipued pressure against July op
tion, which ruled soft in spite of the
fact that the dominant houses &bsorb
practically ail the offerings.
Bulis were Inclined to point out that
the average temperature on the map
this morning was the highest so far this
season. This was offset on prospects of
a bearish weekly weather report.
The Government's weekly weather re
port was said to be the most favorable
of the present season. This, couv‘)led
with continued pessimistic advices
.abroad, sayving the labor situation in
Lancashire was becoming worse, en
couraged further liquidation during the
afternoon, forcing the list some 6 points
below the previous close. The feature
of the trading, however, was the con
tinued purchases and support given the
market by the leading bulls, which pre
. PORT RECEIPTS.
The following table shows recelgts at
the ports to-day compared with the
same day last yeari
e e et
i 1888 1 MR
Jew Orleans, . . 2,455 2,477
Galveston. ~ ~ . . 674 950
Mobile. . . .+ .« . 1,113 192
gavannah, e 1,937 60
TharlesSton. « + « ofievesaeanns 11
Wilmington. . «+ .joecceea.nns 35
Norfolk. . . + « . 220 885
BOStON. « ¢ o o olecsecsecess 20
l’igrigus St .L.._.._.._.’.;_.___»]:_:{L
5 TotM e v 6399 | 6,367
INTERIOR MOVEMENT.
Houston. ..« « « 5,084 4
AUBUSER. . o o o » 9% 6
Memphis. . . . . 516 305
St. Louis. « « « « 750 486
Cincinnati. + « « » 139 527
Little Rock . « 1.......... 5
__l&l___4__.__.?22_s—‘——s—'—&-
BAR SILVER.
LONDON, June 23.—Bar silver qulet
at 35 16-16 d.
NEW YORK, June 323 Commercial
bar siiver 56%, off %. Mexican dollars,
d4O.
THE GEORGIAN'’S NEWS BRIEFS
vented the list from showing any de
cline of ¢onsequence.
At the close the market was barely
steady, with prices at a net decline of 10
to 14 points from the closing quotations
of Monday.
NEW ORLEANS, June 23.—The
weather map-shows fair and warm
weather over the entire belt, except
partly cloudy in extreme west Texas and
along the Gulf Coast. Cooler in North
(Carolina with some showers there, but
otherwise, there was hardly any precip
itation over the cotton pelt, except in a
few Gulf Coast districts.
Qur market opened at unchanged fig
ures for new crops and gained a few
points on old months, but the uncertain
ty of July notice day developments still
greatly checks operations. Moreover, a
rather favorable weekly weather report
was anticipated at 11 o'clock to-day, al
though it should have mentioned the
high temperautres in the West.
After the disposition of tenders here
and in New York is known, traders will
be freer to act on new crop influences
as they arise, which should broaden the
markets.
Receipts at present are misleading on
account of about 20,000 bales of Mexi
can’ cotton showing up in transit.
New York reports that leading spot
Interests are now absorbing the July
liquidation by outsiders. The difference
of only 15 points between July and Oc
tober is indeed so narrow and July at
such an incredible discount under sgo'
prices that spot contracts should offer
a great attraction.
SPOT COTTON MARKET,
Atlanta, nominal;, middling 14%. |
Athens, steady; middling 13%.
Macon, steady: middling 13%§.
Liverpool, easier; middlirg 7.56 d.
New Orleans, steady, middling
18 11-16.
Boston, gulet; middling 13.25.
Boston, quiet; middling 13.40.
Savannah, steady; middling 13%.
Augusta, sieady; middling 14%.
Charleston, steady; middlln% 13%.
Norfolk, steady; middling 13%.
Galveston, quiet; middling 13 11-18.
Mobile, firm; middling 12 11-16.
Littie Reck, quiet: middiing 13e. |
Baltimore, nominal; midling 12%. 1
Bt. Louls, quiet; middling 13wW. |
Memphis, firm; middling 13%.
Fiouston, quiet: middling 13%. 1
Louisville, firm; middling 13%. |
Dallas, steady; middiing 13%. ‘
e |
MONEY AND EXCHANGE,
NEW YORK, June 23.—Money on call
3%. Tim money unchanged; sixty days,~
2% ninety days, 2%: siz montlu.}
3%,
Posted rates: Sterling exchange,
886.5024.88%, with actual business in‘
bankers' bills at 4.88 20 for demand and
4 86 for sixty-day bills.
Prime mercantile paper unchanged.
NEW YORK.
Wadnesday, June 17.
Spot cotton, middling ........ 13.40
: \ § \3" : | i
gl 3137 ©| &5
Jo [TI ll2Be (12.63-8¢
Iy |i2'86112/96(1384!12 93112 93-94/12.83-84
Au 12,8512 98/12.85112 92 12 03-94]12.83-84
Sp u.7sfl2§uim.7s 12.75{12.83-85/12.73-76
? 12.67112.75112.65 12.71‘%.3;‘&‘2},{%%8
N’ essefovvasfosseilosess]Rß.oB-0V 14,99~
IDe |i27o 12.80(12.68 12.;(}?}3 g?-g'}g.g-g’;
112.62/12.61 - 2.52-5
Mr ‘}glg‘fifgg gig:i%gfissfix.cs-55'12.57-58
Ap (12.8312.83/12.82/12 8212.82-84/12.74-76
My [12.78/1288/12.78(12 8712.86-87 12.77-78
Closed steady.
Thunda{, June 18,
Spot cotton, middling ........ 13.40
{5553 B|o
o 2131381 © a 0
Jo [ 00l ). 287-90/12.84
Jy 12.87,12.96‘12.86512.9311293-941193-94
gu 12.89'12.95}12‘88 12.92}2‘33-33}%%.3%-%
P ofeeeeliiniifiieii....]l2.Bo-82{12.83-85
Oc |12.68/12.71{12.61/12.69(12.69-70/12.71-72
Nv [.....]....[....[.....]12:67-60/12.58-60
Dc 112.72|12.76/12.67/13.74(12.74-75|12.76-T7
Jn (12:57 12.61"12.51‘12.59,12.59-60 12.61-62
kn ‘2'631”'65)12‘59:12'6‘*‘2'33‘2”}%3'22
Dol el 13.80-82112. 88
My .12,82512.85!12f79112.85;12.83-85t12.06-87
Closed steady.
SOO RNIRG e o e
Friday, June 19.
Spot cotton, midding ........ 13.2
Spot cotton, middMng ........ 13.236
I
61513 |33l 8 | of
Je 12.82/12.82.12.82/12 8212 73-75/12.87-90
Jy [12.83/12.86{12.76{12.77/12.77-78/12.93-94
Au |12.84/12.85(12.77 12.78,12.76-77 12.92-93
Sp [12.83(12.83(12.83(12.83(12.62-6412.80-82
Oc |12.60/12.60/12.52 1252'12.52-53%1‘.’.69-70
Nv [12.45/12.45/12.45(12.45/12.40-43/12.57-60
J 1:»(: ig.gg gg g.gg fisg g.sc-m 12.74-75
n {l2. .50/13. 141{12.41-42/12.59-60
k&r 12.53,1:.51 12.45(12 47 gg-g 12.63-64
00l e et 0 5
nfidgrwgz;’;'g‘l_z‘i{._lggmlz_.sfll2.67-68‘12.83-85
Closed easy. T b RNG
E?tur?a;;jfl??of
Spot cotton, middling ....... . 13.25
Spot cotton, middling ........ 18.26
c o . d g
Hi' lsl g ‘ég
B 3 n O O
N ok el ek
| Jy |12.72]12.75(12.60|12.65/12.64-65/12.77-78
i ;S\u 12.71/12.74/12.59{12.61 I§g‘l'gg E.g-a
D B o onds sanllis vossten 00l lOD .62~
|gc 12.47/12.50(12.40[12.40 g;gg gfig
W ainio nan s v.v odn.o iaod nie % o - . 20~
Dc |12.52{12.55/12.43|12 44|12 43- 44{12.56-57
Jn [12.38/12.41]12.31{12.32/12.31-32{12 41-42
o
p {l2 62412, 5 -57/12.64-
My '12.65’12.65 12.57/12.59{12.59-60/12.67-68
Closed barely steady.
Monday, June 22.
Spot cotton, middling ........ 13.2§
AANPIT
Al m S 5 & &5
Je [i-]e:od]sconelece . ]12.64-67{12.60-62
Jy [12.62{12.70/12.58{12.69,12.69-70{12.64-65
&sl g s s
Oc {12:37[1253{12.37/12.53(12.52-53{12.40-41
Nv |12.40/12.40/12.40{12 40/12.40-4212.27-29
De {12.42{12.51{12.42(12 57{12.56-57(12.43-44
Jn [12.32{12.44(12.32(12.44(12.44-45(12.31-32
rr 12.38{12.48/12.37/12.48 E.:g{-g.g.:z-gg
My i 58[14 314 /i 3 1113 117216060
Closed firm.
Tuesday, June 23,
Spot cotton, middiing ........ 13.25
!M "yi ! ‘55-
clZ!dlial o |an
Je |l T ] TR 50-BY 12.64-67
Jy |12.67{12.7112.56/12.57(12.57-58(12.69-70
Au ,12.66 12.70 13.56]12.57 12.58-59/12.68-69
$ EEauaasT
j 156(12.40(12.42]12.42- -
1?:3 1252 u“] ....]12.31/12.30-32/13.40-42
Do 1125611260 12.43(12 46]12 45-46(12.56-57
Jn [13.44(12.46(12.32/12.33/12.32-33(12.4¢-45
Mr [12.46]12.52/12.36/12.38/12.36-37/12.49-50
Ap |12.65/12.65 12.63!12.63 12.55-56/12.67-69
My {12.6812.73/12 59(12.59112.59-60/12.71-72
“Closed barely steady.
Weather Condition for
Week Most Favorable
Of the Present Season
WASHINGTON, June 23.—1 n much of
the cotton belt this was the most favor
able week of the present season. Good
rains broke the drouth over large areas
in the Kastern section, especially in the
Carolinas and Georgia, and the plant
made excellent growth, especially the
early planted. In the western portion of
the belt the weather was favorable in
Texas and Oklahoma, and cotton contin
ued to make rapid growth, while benefi
clal showers in Arkansas and Louisiana
caused rapid growth. 801 l weevil is
spreading in Alabama, Mississippl and
Louisiapa. Good rains over much of
the truck growing region of the South
further improved conditions, but early
crops are mostly short.
The weekly mean temperatures ranged
from nearly normal to 5 degrees above
normal, except in the Carolinas, eastern
Georgia and western Texas, where there
was a slight deficiency. Mean temper
atures ranged from 68 to 81 degrees
over the eastern, and from 78 to 84 de
grees over the central and western por
tions of the cotton region. The lowest
weekly mean température—6B degrees—
occurred at Asheville, N. C., and the
highest—B4 degrees—oecurred at New
Orleans and Galveston, Houston, San
Antonio and Taylor, Texas.
Precipitation occurred generally over
the cotton region, except that over a
considerable area in southeastern Texas
there was no rain. The rainfall was
unevenly distributed, being heavy In
some localities and light in others, but
was generally heaviest in parts of Geor
gia, Alabama, extreme northern Missis.
sippi and the northwestern portion of
east Texas.
METAL MARKET.
NEW YORK, June 23 —The tone was
guio( at the metal market to-day.
Standard copper. spot to Julg. 13.30@
13.70; sglter. 5.00%5.10, zinc, 595@6.15;
lead, 3.85@3.95; tin, 30.75@31.35.
r NEW ORLEANS.
Wednesday, June 17.
spot_cotton, middling ........ 1313-18
. @ .
| £ P %o 7 »
f M"E\S‘l g lié
ol L O L
Je l‘\tiligg g%tll o
Jy ’13.4313.50,13.42;13.031. A1"26113.33/13.26/13.20/13.00
"26113.33/13.26/13.20/13.00 (13.24-25
's\;l: llu‘““lugg ggggg
112.64/12.75/12 64(12.71/12. .62-
Ny ‘lm|“" ;“:gg 125264
De |1264/12.73(12.64/12.6912. 61-
65/12.74/12.65112.72/12.00 [12.62-63
ss e ...iilig.gg 18 52-01
274]12.81]12.74{12.78/12. 1-
il bty o b iz ‘ll7l-72
e bl e SN lIR-T
————————————————————————————————
Closed steady.
e e
Spot_cotton, R ... 181318
| 8(f (s2] &| g
ol xXx4a liel o a 0
To [ieooslsresidecensles i | T.BO-6108.40
Jy 11346/13/46113.47/13.42/13.41 |13.43-44
Ag [13.30/13.30{13.22{13.2718.26-27/13.30-31
8D |.ovedorilzorilssossl2.B9-9111392-94
Oc |12.69(12.71/12'61/12.69/12.68-69(12.71-72
NV fooooelisooilssesilsses:|lB:6B-69112.71-72
De (12.66(12.71{12.61/12.68/12.68-69{12.70-71
Jn |13.65/12.71/12.62 13.70112.69-70\12,72-73
Mr [12.74[12.79/12.7012.77/12.77-78|12.79-80
My ... 1580 [HEss
COomanteay L e
Frldag, June 18]
Spot_cotton, middling ........ 1313-16
. . 2 : ‘ .
8 & -4 a >4
"l’l 513"] 3 .52
ol® ]l SBl & 0
Te | ""'f"‘"]'"""l3'32'2‘!l”9'"
Jy 1:.34’13.34 18.25(13.25/13.24-25(13.41
Au 1:.13.13,17|13.u'13.11}13.11 13.26-27
Sp (12.77/12.7812.7512.75/12.70-72/12.89-91
Oc 12.58/12.59/12.58{12.51|12.50-51|18.68-69
Ny |....1.... ] cade....]1260-51[12.68-69
Dec |12.57/12.58/12.60{12.50/12.50-51|1%.68-69
Jn [12.58{12.59/12.51(12.51/12.51-52(12.69-70
Mr [12.66 u.sslu.ss 12.59112.59-60’!2.77-78
Myt 00l adel aer iaso
oL wßay, - .
Saturday, June 20.
Spot cotton, middling ........ 1313-18
d@l . . | @ .
l*"!i’i’] : |és
o 2l © {
o [ Lo 1... ... |13.82-04|18.32-24
Jy [13.23/18.22/13.03/13.05/13.95-06(13.24-25
Au [13.09/13.09/12.95(12.97/12.97-99/13.11
Sp |............ ... 112.62-64/12:70-72
Oc [12.48/12.50{12.39{12.42/12 41-42|12.50-51
Ny |olol ik IR e 12]18.50-51
‘Dc [l2/49]12.49(12.39{12.41{12.40-41(12.50-51
Jn |l2 481250012 4012 4212 42-43/12 5153
Mr [12.57]12.57/12.48/12.48/12.50 |12.59-60
Wy so el ey iy
Closed steady. BT
Monday, June 22.
Spot cotton, middling ........ 18311-18
. i A ‘
’5'51513’{ : |55
ol S 1D 0o
I 8 | ol 14180504
Jy (13.00(13.15{13.00{13.15{18.14-15(13.05-06
Au [12.91]13.2¢{12.91{13.04]13.03 {12.97-99
Sp ({12.62/12.62{12.62{12.62(12.72-73/12.62-64
Oc {12.41]12.50{1%.41(12.51|12.51-52]12.41-42
Ny Lo S-St -1
De |12.40/12.53]12 40112 50/12.50-51(12 40-41
Jn [12.42012.54/12.42/12.52(12.52-53/12 42-43
Mr [12.50{12.63{12.50/12.61{12.61-62{12 56
My [12.57/12.00112.00/12.6¢/12.64 [12.53
Closed steady. GeaT T
Tuesday, jm 23.
Spot cotton, middling ........ 1311-16
Shot oot NICHRRE --oei.o. 131116
S X . ¢ -8
l‘lf" ! ii] : jéi
. ielwia o |&g
Je i....‘1.....g.....'.....u.0z-e:gu.lz-u
Jy umu.u,n.o:hz.« 13.03-05{13.14-15
Au 213.06’13.06 12.95/12.95(12.95-96(13.03
8b Lol b .....ju.sl-s: 12.72-73
Oc ‘12.52'13.56 12.41{12.43(12.41-42/12 51-53
Nw 1.....|....0c. . ).....{18.41-42]12.51-63
Dc |12.51(12.54(12.46{12.41/12.39-40/12.50-51
Jn nsz:lu.ss 12.41}12.41/12.41-42/12,52-53
Mr {12.5013.65/12.53{12.63{12.51-62/1261-62
My b 5 o e be-sBla 64
- Glosed gtead¥. et
COTTON SEED OIL.
NEW YORK June 23 —Nothing new
developed in the cotton sead oil market
to-day. July liquidation continues, but
refiners appear to be covering their
shorts, wm serves to hold the mar
ket,
Considsrable switching was in evi
dence again to-day. Commission houses
were scattered buyers of forward de
liveries.
Coton seed oil quotations:
"1 Opening. | Closing_
e TR L R
Janvary .. .. ..| 6.92@6.93/6.91@6 93
June.. .. .. ~ ..| 71.22@7.30!7.19@7.26
July.. .. .. .. ..] 1.26@7.27{7.23@7.2¢
August .. ~ ....| 7.47@7.43|7.43G7.44
September ~ .. .. 7.54%1.551.51 7.53
October .. .. ~ ..| 7.34@7.36{7.34@7.35
November .. .. ..{ 6.99@7.01/6.98@7.00
December .. .. .. 6.90@6.956.91@6.94
Crude Southeast .| .......... o 2
Closed heavy. Sales 16,100 barrels,
NEW YORK COFFEE MARKET.
_Coffee quotations:
| Opening. | Closing.
January. . , , .| 9.20@ 9.25( 9.17@ 9.1
February. . ~ . .| 9.25@ 9.30; 9.20@ 9.21
March. . , ~ . .| 9.27@ 930 9.22@ 9.23
April. , , , o .| 9.30@ 9.35 9.26@ 9.27
MAY. .»x5 ¢ ] 035 9,30,9,3
JUBB. . so i s tai .l A S
L e s g s.ssg 8.75] 8.66@ 8.67
August * ", 1| 880@ 335] 8.76@ 8.77
September, . , .! 891 8.86@ 8.87
October. . .., , .! 9.00@ 9.05| 895 G 8.96
November. ~ , .| .......... | 9.04@ 9.05
December. .." . .19 """ { 3.13@ 9.14
Closed quiet. Sales, 23,500 bags.
MARRY RICH-—-Hundreas anxfous to
marry. Descrl%tioni and photos free
hsgl‘:ed). The nity, Grand Rapids,
cn. >
I positively
AB'ES '"' Rfi'll'd guarantee my
great successful ‘‘Monthly™
Compound. Safely relleves some of
the longest, mest obstinate abnormal
cases in 3 to 5 days. No harm, pain or
interference with work. Mail §51.50.
gouble strength $2.00. Booklet FREE.
rite to-day. Address Dr. A. 1. South
ington Remedy Co., 515 Main St., Kan
sas City, Mo.
