4 v
I
FINANCIAL;
COTTON IS LOWER
IN TRADING TODAY:
I
Lower Cables. Larger Crop;
Figures and Weather
Bearish Factors.
,
tr th» A Mnriated Pr#«*
NEW YORK. October 6.- Cotton fu
tures opened easy; October. 13.40; De-'
fwih#r. 13.25; January. 13.30; March, j
‘ 13. M; May. 13.T4. Yesterday's rallies (
warn* followed by r»n»w»il weakness j
In the rf*ttnn market early today. ow- j
In* to lower Liverpool cable*. larger j
private crop figure* and a favorable j
Construction of the weekly report of j
tbe Weather Bureau.
The opening was easy at a decline |
of m to 27 points and after a slight j
bulge on continued covering or trade :
buying so'.ri ai»mit 2ft to 36 points be- j
low yesterday's closing figures under.
liquidation or reselling by recent hov
ers and further Southern hedging, al
though the latter was said to be less
In evidence than recently. December
contracts sold off from 13.23 to 13.19.
The market was withib a point or two
of the 1 owest at the end of the first j
hour.
Two more private reports were Is
eoed, one estimating the cnndfMon of
the crop 31.2 and the indicated yield
• t 6.636.060. The other placed the crop
Indication at lfi.o33.otM> bales.
The market was steadier late in the
morning on report* that cotton was
being held more closely in the South
and the failure of the hig private crop
figures to bring in any great volume
of grt'ing. Trade buying and pre
hurrtu covering were considered The
chief factors on the rally which ex
tended to 13.50 for December and
13.77 for March contracts, or about
I to 10 points net higher. Prices
were within a point or two of the
best at midday.
New Orleans Market.
