The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1881-06-07

Cotton.

Light receipts anu n dull make. was the
chief characteristic. to- day The demand for
good grades of cotton continues active, hut
the supply Is poor. A Live pool circular of
recent date says: The Improvement, which
showed Itself at the close of last week, has
this week been fully maintained. There has
been no great activity manifested, but there
has been q fair, well sustained daily irade ii O.
mand. There has, however, been large sup
plie9 on sale, and hen &C the gain in values hs
been triiling. The evil ioreb puings la connec-
ton with the sett ement of the May differences
have been dissi pated, ard the market exuey-
rences altogether more comfortable feeling,
This gratifying change may be held to account
sufficiently for the mild reaction VIII ch has oc
CURED a speculative ection OF the market
evidently eNpe 1 much more ont Of the move.
ment than II yet gives promise OF. SO many
recent similar improvements have come to
nothing, that another large section OF opery.
ators have not.m faith In this one. So far
as spectators are con cened. the faith In an
advance In the near future Is by some strongly
held, but neither the trade nor holders take
any decided stand.
II is true spinners have bought more freely
on the spot Than for some weeks past, but this
has been mainly .e toa dlminution in the
Quan ity iol warded direct, aud the necessity
OF meeting their wants byincreasing purchases
on the spot. The direct fofwardingi we expect
Will now continue to diminish
and that the spot sales to the trade will cores
pondingly increase. So far, therefore, as The
present reaction has gone. we sse nothing In
theattltude OF spinners 10 lead us to expect
any violent change in their previous policy
Of confirmed caution. They perhaps show les
uistrust III an on some former oc casioBs of I'm 4.
movement, and change of policy Is always
possible. They are doing large business,
anu their stocks OF the raw material are
heavy, five keep In view the very large con-
sumption. This market has been 30 long fto.
bic anu depressed That u VIII take CONS time
for the conviction that bottom prices have
been touched, 10 the root, admitting that that
point has been reached, as some authorities
maintain.
On the part of hoders no greater confidence
has been shown. They have not pressed sales,
but they have offered their stocks frl ely and
have not always held ont for full current quo-
tstions. The fact Is that holders have gone
through auying time during long period OF
Inactivity, when stocks accamu ated In spite
Of every effort TO make sales, so that every op-
portunity TO reduce their heavy holdings is
gladly taken advantage OF. This feature OF
itseii seriously reduces the chances Of success
OF any material upward movement for the
present. A continuance OF lerger buying
would, no doubt, gradually diminish the de-
sire to realize, apd the hardening process in
prices would I've accelerated; but TITS we must
leave TO the Immediate future TO determine
eaccordingly see on the one hard n Il rong
speculative section Of the market that would
fnin push prices up, and on the Other we h ave
those who have cotton to sell willing to sell II.
anu tllObe VINO want 10 buy IL by no means
eager to get hold OF It.. Unless the form, or can
bring the latter over 10 their views the weight
cfevilenco would secm TO DO against an In.
mediate advance of any Importance.
Trade at Manchester continues In a most
healthy condition. Tho large production
finds market, and we have no complaints oi
heavy stocks In any department. Tho trade
With India IL Inactive for the time belug, hut
shippers are pretty well supplied with orders
from other sources, and the home trade has
been somewhat better during tho past few
weeks.
Inc stotk Of cotton held. by English epia-
ners we now es,imate at 100, 900 bales. agains.
1900 lat year anu 2lg, 300 the year before at
ZANE date.