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THE GEOKUIAN’S NEWS BK1 EH a 11 i r Market Quotations For Week Ending July 29, 1913 Heavy liquidation by strong interests of long lines, Continental and South ern selling, coupled with a continuation of excellent weather and brilliant crop advices, resulted In the cotton market developing a downward tendency during the past week and at the close of business Monday the readjustment which took place in the New York future contract market showed a maxi mum decline of 22 to 56 points from the final quotations of last Tuesday. New Orleans was the vulnerable spot in the cotton market. July New Or leans almost repeated its sensational decline of 37 points of Tuesday, declin ing 30 points last Wednesday before the New York close. This market was relatively strong, as it was up to the initial of last week but almost repeated history by losing ground The break in the Soutern markets was followed by liquidation by New York and New Orleans ring professionals and by bear ish operators who believed that at last the long awaited break was approach ing. The market developed a far greater degree of activity than has been noted in the recent past and there seepied a general disposition to get on the selling side. Day after day the trade witnessed, a repetition of sensational breaks. Influential in causing the decided downward trend in prices were not only the factors already stated, but Liverpool cables were of a bearish char acter and Manchester advices suggested a slight relapse in the trade boom enjoyed so long there. Germany cabled that business was slow because of the Balkan war. The curtailment of July long lines sent this option tumbling in value. August also was making new low values for the month, declining to 11.44 Monday. That also was making new low levels for the month, declining to 11.44 Monday. That W'as 76 points off from the best price for the month, or something over $3.50 a bale. A feature of the decline in August was that of ferings were absorbed by brokers buying for Liverpool account against strad dle sales in Liverpool. Many of the strongest spot sources also were noted as buyers of the option. New crop positions monopolized attention. October, December and Janu ary displayed considerable activity, such as bad not been noticeable in weeks and suggested a revival of public interest in the market. October during the week has lost 37 points, December 23 points and January 24 points. A good deal of selling pressure was stimulated by lower temperatures in the Western section of the belt and propitious rainfalls in Texas, Oklahoma, Central and Eastern States. Such rains, however, were not badly needed elsewhere, ex cept in the Western States. In the face of this, however, many reliable au thorities have sent in favorable replies to inquiries concerning the condition of the crop. Many replies were to the effect that rains were only needed in a few localities, and asserting that a dry spell at this time of the season would give the plants sufficient tap root to withstand any long drouth. The crop is facing its most critical period, but, notwithstanding the fact that the plant is supposed to have sustained deterioration, reports of deterioration are not to be taken as official, as they are generally originated from outsiders or those unfriendly to the course of the market. Private estimates of the condition of the crops, such as The Memphis- Commercial-Appeal, Miss Giles, National Ginners and Weld Bros., have al ready made public the condition figures on the crop, all of which give con ditions a slight increase, when usually there is a setback m condition, as to the percentage the Government in its condition report Briday, August S, will give the crop no one knows, but the consensus of opinion is to the effect that the crop has moved back slightly. Those inclined to the bear side, however, give little or no credence to such a theory, saying that the Bureau s figures are made up as of condition to July 25, and the benefit of the weather and good rains will not be shown in the report, but will be shown in the September report. On the other hand Private reports received during the week from experts who are traveling over the cotton belt indicate that the plant has improved materially and that the prospects for a bumper crop are of the best. There are a few complaints of boll-weevil damage in Arkansas and Mississippi. This has had but little effect on the market, and, with fur ther rains,-wich are forecasted for this territory very soon, will probably re move the only good argument which the bull element has to hold prices. Weekly figures on consumption were bullish. Despite the uncertainties of war in the Balkans and tight money, the Continent took 20,000 more bales of cotton last week than the corresponding week last year. Sp nners came into the market and purchased rather freely on declines, apparently taking advan tage of low values. Spinners’ takings for the week aggregated 182,000 bales, exceeding those of the previous year by 12,000 bales. lakings since Septem ber 1 of American cotton by spinners total 13.419,000 bales, as compared with 14 720 OOO bSfes for the same period last year and 11.561,000 bales for the same time the year before On the other hand all indications point to an ’early movement of the new crop. Some go as far as to predict the movement in both the Eastern and Western belts as early as August 15, which offsets any immediate scarcity of cotton. Sentiment regarding the amendment which has been added to the tariff bill providing a tax of 1-10 of 1 cent a pound, or 50 cents a bale, has evidently passed out of the minds of those who were so bitterly op- nSed to the amendment at first. Some of the largest cotton men in the Etate have sent messages to the Finance Committee at Washington show- . iaie ... . »_r_* k 0 ^ocoori and have received favor- to the effect that they ing why this “amendment should not be passed, able replies from their Senators, but none was would oppose the issue. Those interested in cotton futures seem to have seen hi tumm sure tip that the amendment will never become a law, otherwise some one would be fight- - until the ultimate outcome of the pending issue is had the following in its weekly ‘futures’ has naturally growers, cot- the business, ing and pulling hail known. Recently The New York American business and financial article: “The vicious proposal to tax dealings in cotton aroused a storm of protest, for it would embarrass cotton ton manufacturers, spinners and everyone associated with __ r to sav nothing of driving dealings in the staple from New York and New Orleans to Liverpool, where the advantages of a free, unfettered marke are properly appreciated. “ThA manufacturer who undertakes to make and supply so many gross of short! sheetings at a stipulated price, in order to escape risk at once arranges tx> have the raw material delivered to him at a specified price. On the Cotton Exchanges he can buy fivery, as there is an active market all every bale thus traded in be taxed tw - o 1,6 “Thf manufacturer will have to pay more for his uncertain fluctuations and the w1 '' no h t al £, nd a ready ma C hiS 2S?. %C 0 Ta n x t i!' barbartc.^and^shoujd t billed bMore !, r.acb es It would benefit nobody but would injure everybody. the statute book. NEW YORK. Wednesday, July 23. Spot cotton; middling, 12.40. Jiy Ag Spt Oc Nv Dc Jn Fb Mh My 12.16(12.16(12.03 12.00 11.68 11.45 11.37 11.34 12.02 11.68 11.48 11.88 11.58 11.36 11.41 11.36 3! 12.04 11.89 11.59 11.36 11.33 11.29 11.34 ll.23jll.24 11.43 11.46111.46111^38! 11.38 11.33-351 1.43-45 Closed steady 12.04-05 11.89-90 11.57-59 12.15-16 12.01-02 11.67-69 11.36-37 11.45-46 11.28- 30111.38-40 11.29- 30111.39-40 11.24- 251-11.33-34 11.25- 26111.34-36 11.43 jll. 31(11.31 11.31-32111.41-42 Thursday, July 24. Spot cot ton; middling. 12.15, Open. j: O) I Low. re re -J</> Jiy As Spt Oc | Nv 12.02 11.85 11.57 11.36 12.02(11.83111.87 11.85111.58 11.62 11.60 11.41 11.42 11.41 11.23 11.30 Dc 11.30 ll.35ill.1711.24 Jn Fb 11.24 ll.29jll.10 11.17 Mh 11.32 11.38 11.21U1.26 My 11.38 11.38 11.30 11.33 11.86-87 11.62-63 11.43-45 11.30-31 11.22- 24 11.23- 24 0. O 12.04-05 11.89-90 11.57-59 11.36-37 11.28- 30 11.29- 30 11.16- 17111.24-25 11.17- 19 11.25-20 U.25-26111.31-32 11.28-30 1 1.33-35 NEW ORLEANS. Wednesday, July 23. Spot cotton; middling, 12V e | O High l jewi .Jiy 12.00 12.00 11.70 11.75 Ag 11.95 11.95 11.69 11.70 Spt 11.44 11.44 11.41 11.44 Oc Nv Dc 11.51 11.02 11.40 11.41 11.48 11.50 11.37 11.40 Jn Fb Mh 11.51 11.51 11.40 11.41 11.54 11.54 11.48 11.48 My V ?! a.c 11.71-75112.00-01 11.70-71|11.94-95 11.45-47111.55-57 11.41- 42111.50-51 11.38- 40 11.48-49 11.38- 40111 48-49 11.41- 42 11.50-51 11.30-40111.46-49 11.48-59111.59-61 11.53-55ill.65-68 Closed steady. Thursday, July 24. Spot cotton; middling. 12 1-16. Open. High. Low. Last Sale Jiy Ag Spt Oc Nv Dc Jn Fb Mh 11.69 11.70 11.69 11.73 11.65 11.65 11.53 11.54 11.42 11.47 ii.29jii.34 11.41 11.42 11.45 11.46 ii.28ii.32 ll.30jll.34 11.52 11.52 11.39(11.45 Closed steady. Friday, July 25. Spot cotton; middling, 12.05, Jiy Ag Sp Oc Nv Dc Jn Fb Mh My 11.80 11.84 11.73111.85 • i Oil 11.55 11.37 11.25 11.17 11.10 11.16 11.67)11.50 11.42111.3’ 11.32111.20 11.25:11.15 11.18111.07 11.62 11.36 11.29 ft O 11.81-83 11.86-87 11.62-63 11.62-63 11.38- 40 11.43-45 11.39- 30 11.30-31 ..Jll.22-24 11.23 11.23-24 11.23-24 11.17 11.17-18 11.16-17 ll.16jll.ll.ll.il 11.18-20 11.17-19 11.21 ll.28jll.18jll.28 11 27-28 11.25-26 11.21 ll.30ill.20 11.28|ll.29-3li 11.28-30 Closed steady. Saturday, July 26. Spot cotton; middling, 1195. Jul Au Sp Oc No De Ja Fe Mr My » * * *5 n 3 St G ► * fs Sin 11.74-76111.81-83 11.51-52 11.62-63 11.29-31 11.38-40 11.83'11.83 111.71 [11.75 11.59 jll. 61111.50111.51 11.36 11.36 11.31J11.31 11.27(11.27(11.18)11.18|11.18-20111.26-30 111.11-131 11.12- 13 11.23-24 11.05-06 11.11-18 11.06-08 11.18-20 11.13- 1411.27-28 11.19-20 11.29-31 O J Q.O_ 11.50 111.71-75 11.55-56111.70-71 11.37-39|ll 45-47 11.34- 35111.41-42 11.31- 33 11.38-40 11.32- 33 11.38-40 11.34- 35 11.41-42 11.30-32 11.30-31 11.42-44 11.48-49 Closed Steady. Friday, July 25. Spot cotton; middling. 12 1-16, Open. High. Low. Last Sale. Close. Prev. Close. Jiy 11.6911.78 11.69 11.78111.75 11.50 Ag Sp Oc 11.5011.73 11.50 11.69 11.64-66(11.55-56 (11.37-39 11.37-39 11.30 11.37 11.26 11.33 11.32-33111.34-35 111.30-32(11 31-33 Dc ii.27 11.34 11.24 11.30 11.30-31 11.32-33 Jn Fb Mh 11.31 11.33 11.26 11.34 11.31-32111.34-35 111. 29-31(11 30-32 i i. 41 11.43 11.40 11.41 11.40-41111.42-44 My 11.45-47 Closed steady. Saturday, July 26. Spot cotton; middling. 11 15-16. 11.21 11.12 11.22 11.27 11.22 11 12 11.12(11.12 11.06 11.06 11.23 11.29 11.19(11.13 11.19111.20 Closed steady. Monday, July 28. Spot cotton; middling, 1195. Jiy Ag Spt Oc Nv Dc J’n Fb Mh My 6 c a Is C M O 0 J tJ-.fi 6 c B A 0 I 9 B » Si Ju Ag Sp Oc 11.62 11.63 11.62 11.65 11.62 11.55 11.62 11.55 11.30 11.32 11.17 11.18 r>e 11.26 ii .28 11.14 11.15 Ja Fb 11.29111.32 11.16 11.18 Mr ii.38ill.38 11.27 11.27 My ?! 11.62 ill.75 11.55-58jll.64-66 11 22-24(11.37-3:) 11.17-18111.32-33 11.15- 17jll.30-32 11.15- 16111.30-31 11.16- 17111.31-32 11.13-15111.29-31 11.26-27,11.40-41 11.31-33H1.45-47 Closed steady. Monday, July 28. Spot cotton; middling, 11 15-10. 11.74 11.82 11.44 11.60 11.19 11.27 11.13(11.21 11.00 11.00 11.05111.17 ll.00jll.10 11.0411.04 11.12 11.18 11.17|11.21 11.70 11.44 11.19 11.12 11.00 11.05 11.00 11.04 11.10 11.14 11.80 11.57 11.27 11.18 11.77-80:11.74-76 11.57-58;il.51-52 11.26-28:11.29-3’ 11.18-19(11. 18-20 11.00 jll. 13-15H 1.11-13 11.1611.16-17 11.12-13 11.09111.09-10111.05-06 11.04)11.10-12 11.06-08 11.18(11.17-18 11.13-14 11.14(11.21-23:11.19-20 this material for future de- the’ time for ’futures.’ But if three dollars this market will NEW YORK, July 29.—Because the weather map failed to show any mois ture in Texas or indications that any would be expected in the near future, cotton this morning opened steady,, with first prices at a net advance of i to 6 points higher than Monday s final. Sentiment was less bearish, and quite an active covering movement devel oped at the start. Later the marke. eased off sharply in response to active selling by the uptown crowd and Wail Street brokers. Declines aggregated 8 to 5 points from the initial level, or practically unchanged from the pre vious close. . . . The trade witnessed a repetition or the sensational flurry in July during the forenoon, when sudden liquidation prevailed. This option dropped from 11.85 to 11.71, “nothing between, ana immediately jumped back to the for mer quotation, “nothing k<?J we l n ’ and increased its gain to 11M. 1 ^ phenomenal strength and actlvitj that option, as well as other tions, was attributed chiefly to heav absorption by large spot Rouses, and covering short commitments by recen sellers, coupled with a Liverpool ca ble saying offerings were 1 llght a T„ eohrts running to cover. Advances In other positions aggregated l to ’ points over the previous close within the first two hours. During the afternoon session part of the early advance was wiped out through active selling, believed to be profit-taking by early buyers. Old crop positions, however, held firm. Losses were .attributed mainly to new crops. At the close the market was steady with prices 1 t0 , 2 ,. p0 ' n ^ higher than the closing quotations of Monday. NEW ORLEANS, July 29.—Apart from the absence of rain in the southern haJf •f Texas, the map shows favorable oon- Closed very steady. Tuesday, July 29. Spot cotton, middling, 12.10. Jiy Ag Sp Oc Nv Dc Jn Fb Mh My 11.85111.94 11.60 ! 11.70 11.30 11.42 11.21 11.14 11.2' 11.25 11.16 11.20(11.24 11.27(11.27 11.71 11.57 si ► * 11.9011.89-94 11.77-80 11.64(11.63-64 11.57-58 11.30 11.35111.35-36:11.26-28 11.18 11.22111.22-23 11.18-19 j 111.16-18111.13-15 11.15111.20 11.19-20 11.16-17 11.08(11.11:11.11-12:11.09-10 j 111.00 11.10-12 11.17 11.20 11.20-23 11.17-18 11.22 n.27jll.25-26|ll.21-23 Jiy Ag Spt Oc Nv Dc Fb Jn Mh >s ;J $ 1162 11.55-53 t 11 09 .( 111.70 11.60]11.63jll. 55(11.61 11.62-64 \ | 1 (11.30-31111.22-24 11.17(11.27 11.15(11 25 11.25-26(11.17-18 11.15 jll. 17(11.15(li:i7| 11.23-25| 11.15-17 11.15;11.24ill.13(11.23jll.22-23jll. 15-16 'll . . 1 1 i.3o-iW Li.13-15 11 19ill.2611.14jll.25 11.24-25 11.16-17 11.26(11.35111.26|11.35jll.40-41 11.26-27 Closed steady. Tuesday, July 29. Spot cotton; middling, 11 15-16. e 1 C u : * ».s i i 3 5» Close. |J Jiy 11.66111.66111.66111.66(11.66 11.71 Ag 11.68 11.70 11.60 11.66:11.65-67 11.62-64 Sp 1 111.31-33 11.30-31 Oc 11.28 11.32(11.25|11.26:11.26-27 11.25-26 Dc 11.28 11.30 11.22(11.23(11.24-25 11.22-23 Jn 11.30 11.31 11.24 11.26 11.25-26 11.35-36 Mh 11.39 11.89 11.35|ll.35111.35-36 11.40-41 Closed steady. Closed steady. PORT RECEIPTS. The following table shows receipts at the ports to-day compared with the same day last year: I 1913. | 1912. TUESDAY'S REVIEW. ditlons. The most favorable develop ments were the let-up in the heavy rainfall in the Central and Eastern States where a spell of comparatively dry weather is desired in order to pro duce the best results. There were only a few light showers overnight in Ok lahoma and the Atlanties, generally fair weather- is shown in Texas and Okla homa. Northwest Texas, Amarillo, had .72 inch of rain, s* „ , , Indications are for generally fatr weather in the West, except possibly some cloudiness over Northwest Texas and Western Oklahoma. Part cloudy In the Central and Eastern States, with a few scattered showers. ' Houston, Texas, to-day officially re- orded the receipt of six new bales of cotton, making receipts to date 31 new, against 13 last year. This supports the contention that, owing to the uniformity of crop development, the movement of new cotton will increase much more rapidly this year when once started. Our markets showed indecision, opin ions varying as to whether to act on the bullish weather conditions in the West, or to expect a bearish effect from the increase in the new movement reflected by the Houston receipts. First trades were at an advance of 3 to 5 points, which was soon lost. New Orleans. . . . 118 720 Galveston 1,213 619 Mobile 19 118 Savannah 287 183 Charleston. . . . 1 203 Norfolk 234 New York. . . 58 Total 1,874 1.901 INTERIOR MOVEMENT. Houston 750 32 Augusta. . , . . . 66 167 Memphis 140 571 St. Louis 348 i 4 Cincinnati 1,290 339 Little Hock. . . . 1 Total 2,594 1,184 1912. MERCHANTS BUYING COTTON GOODS FOR SPRING DELIVERY Marshall Field & Co., In their week ly review of the dry goods trade say: “The dry goods business of the week has held about even with that of the same period a year ago. Our repre sentatives again on the road after their vacations are finding buyers ready to consider lines for spring delivery in a conservative way. “Crop conditions inspire confidence in mercantile operations,. especially throughout the principal corn growing States. FiXeeptionally good reports are received from the State of Iowa. The oats crop has benefited by timely rains in some sections. “Collections continue about normal. “A healthful tendency is noted in that there is an increasing demand for the better grades of merchandise. “The steady, normal volume of daily shipments indicates low stocks and a ‘hand-to-mouth’ policy of buying among readers generally.’’ SPOT COTTON MARKET. COTTON SEED OIL. NEW YORK, July 29—The cotton seed oil market was partly lower at the start, but soon rallied on the strength of crude at the South, covering In new crop months and scattered local buying. Cotton seed oil quotations: 1 Opening. Spot . • • • August . • « September, • October . % \ November • % December « $ January % « February Closed strong; Atlanta, nominal; middling 12c. Athens, steady; middling 11% Macon, steady; middling 12%. New Orleans, steady; middling 11 5-16. New York, quiet; middling 12.10. Philadelphia, quiet; middling 12.40. Boston, quiet; middling 12.10. Liverpool, steady; middling 6.54d. Savannah, steady; middling 11%. Augusta, steady; middling 12%. TTorfolk, steady; middling 12%. Charleston, steady; middling 12 5-16. Mobile, steady; middling 12c. Wilmington, quiet; middling 12c. Little Rock, steady; middling 12c. Baltimore, nominal! middl.ng 12%. Memphis, steady; middling 12%. St Louis, quiet; middling 12 5-16. Houston, quiet; middling 12 3-16. Louisville, firm; middling 12%. Charlotte, steady; middling 12c. Greenville, steady; middling 12c. MARKET OPINIONS. COTTON Morris H. Rothschild & Co.: Fluctua tions In tbe market depend greatly on climatic conditions. A. Noraen St Co.t In such a weather market It seems useless to express any ° P :Logan & Bryant We do not think that present conditions are of a nature to promote bullish activity at this time. NEW YORK COFFEE MARKET. Coffee quotations: Opening. Closing. January 9.38 j 9.5. r ,ffi9.5t February. . , . . 9.44(&*9 47 9.62fa 6.64 March ...... 9.53 9.69 fa- 9.70 April 1 9.5@9.62 9.70fa 9.75 May 9.62 9.79fa 9.88 June 9.65 9.80fa 9.81 July . . . . . 9.10fa)9.12 August . • • . 8 90fa 8.98 9.10fa 9.12 September . . . ! 9.06 9.22fa9.23 October . . • . 9.17 9.31*9 33 November . . • . 9.25 9.40fa'9.42 December . . . . 9.32 9.4749.49 Closed firm; sales 74,500 bags. — CANCER FREE TREATISE The Leach Sanatorium, Indianapolis, Ind., has published a booklet which gives inter esting facts about the cause of Cancer, also tells what to do for pain, bleeding, order, etc. Write for It today, mention ing this paper.