READJUSTMENT IN
| COTTON CONTINUES
Market Moves Narrowly and
j, Irregularly and Trading
Is Inactive.
I
Business in cotton futures continued
yesterday to represent largely read
justments of old and new crop posi
tions by local professionals without new
Incentive for extensive trading and the
market moved narrowly and Irregu
larly throughout Its five hours, closing
f points net lower to 3 net higher than
Thursday's finals. Under Influence of
Texas rains, strength of securities and
"Wall Street shorts' fear of continued
adverse weather over the weekend the
list was hid up about 3 to 13 points
in the first hour, but soon lost Its gain
when the South and Liverpool turned
sellers. The trade paid little attention
to what Liverpool did. The English
futures market opened about as ex
pected. A fair business in tho actual
abroad was reported.
Spinners' takings of cotton for the
week ended with last night were much
smaller than they were in the last
previous week, but tho takeoff was
about 45,000 bales greater than the
amount brought Into sight. Conse
quently the visible supply ws reduced
to that extent. According to the local
Cotton Exchange spinners' takings
wero 151,496 bales against 195,944 bales
ttr* last previous week. The amount
of cotton brought into sight was es
timated at 106.613 bales, in contrast to
124,714 for the preceding week. The
New Orleans Cotton Exchange made
total spinners' takings considerably
dower than did the New York Cotton
Exchange.
Tho local market for spot cotton was
quiet nnd unchanged at 17.Do cents for
middling. The New Orleans market
was 12 points net lower at 16.63 cents
for middling, and Its sales of the
actual were 541 bales.
Ha use of prices: T*r?v.
Open. High. I-ow. Close. Close.
