New York, July 22 Carloadings in the United States for the week ended July 16 totalled 602,000 cars, according to the weekly report of the Association of American Railroads, which was issued today.
This compares with 501000 cars last week and 770.000 cars for the corresponding period of last year, showing an increase of 101.000.cars and a decrease of 168,000 cars respectively, compared with the figure for the week under review.—Reuter.
The size of the crop, it is believed, must be substantially below 12,500,000 bales to hold prices, while others feel that crop scares and the strength of the stock market may attract support, at least until a large crop movement or more tangible business improvement are seen.
The movement is, at present, delayed by complications over quota certificates. At the same time, spot business has been restricted by uncertainty over the possibility of a cotton loan for the next season, although the Administration is determined to avoid a loan unless price developments should make it mandatory under the Farm Act—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.