COTTON GOES UP
WHEN LIVERPOOL
MARKET CLIMBS
Bullish Condition Also En
couraged Upon Weather
Reports From South
NEW YORK, Oct. 13.—The cotton
market was strong, excited today
owing to uncxceptedly higher Liver
pool cables and unfavorable weather
reports from the southwest. Decern- i
her contracts advanced to 28,70, or
20 points above the closing price of
Thursday, and 158 points above the
low level of last Tuesday. Decern- '
ber closed at 28.58 or 12 points off <
from the best under realizing with
the general market closing firm at
net advances of 40 to 58 points. J
The market opened firm at an ad- i
vance of 50 to 66 points on the over- (
holiday strength of Liverpool, which
private • cables attributed to Ameri
can buying and Heavy covering in i
consequence of unfavorable weather i
in Texas. The initial prices here at-.
tracted scattered realizing and south
ern hedging, but the offerings were
very readily absorbed by covering ]
and fresh buying. The latter became
more active following the western.
belt forecast for heavy frost in west
and central Oklahoma and possibly
killing frost in the Texas panhandle
with October contracts selling up to
29.23, and January to 28.16 late in
the morning. These prices represented
net advances of 70 to 76 points on ,
the active months and while they
brought in considerable realizing
prices closed within 8 or 12 points
of the best. There was some react
tionary sentiment expressed around
the ring here late in the morning
on an idea that covering had been
pretty well completed, but selling
on such theories was restdicted by
the fear of unfavorable weather over.
Sunday.
