Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1892-03-27
THE COTTON REPORT.
Silver Operating Against Cotton in New
Eork-Nine Million Bales q Minimum
Estimate of the Crop.
Special to the Gazette.

Special to the Gazette.
New ORLEANS, LA, March 26.-Atwood
Violet & Co. say:
Futures-An improvement in Liverpool
to-day of 1-64d to 2-64d met with some re-
spouse here, but we close to points
lower than last night.
Liverpool spot business, however, seems
to be improving not only in quantity Of
sales but in price, the advance being 1-16.
The news from the New York STOCK. mar
ket to-day was not encouraging for SPecu-
lation in anything, the decline in silver be-
ing the cause, and we are informed of
lower prices there. The weakness of sill
yer is operating in Manchester against the
improvement in actual cotton, as the diff
ference in exchange is very considerable
one to the manufacturer in
England with Eastern countries.
With settled weather, which to-day is in
dictated for the cotton belt, the question Of
supply will come more prominently to the
front. The excess of American cotton in
Liverpool on hand and afioat over last year
is 564,O 900 bales against $4,000 bales last
Friday
The total amount in sight of America at
Liverpool, at American ports, and at
twenty-nine interior towns, known as the
weekly visible interior movement, is 3, 124,-
600 bales, which represent about S5 per
cent of 100000 crop which
is Immediately available, although the
100000 estimate is the minimum estimate
now.
Somebody will have to buy actual cotton
between now and the next crop In order to
remove the surplus, or else the present
holder must carry IL. Our adyices are that
spot sales in Liverpool are largely specula-
tive.
We are not bearing cotton, We are
merely giving what seems to be the feat
ures that do not encourage buying, al
though we do advise selling On active Pc
RODS, and will so continue until the
influences we mention are removed.
A queer feature of the situation
is that the Southern people expect a
prosperous season next year only by con-
siderable reduction in acreage, or in other
words, q 100000 or 6,5O0,OO0 crop,
which could only be brought
about, not by reduction IN acre
age to that extent las we don't
believe that the gov eminent report win in
dictate q greater average than 10 per cent at
the utmost than by a general disaster to
the crop; therefore, to say that the South
viii be benefited by any such con di1on OF
things we do not believe.
Port receipts to-day are $500 bales,
against $1,000 bales last year. The esti-
mate here for Monday is 5000 bales, against
$500 bales last year and 1900 bales at all
ports on Monday of last year.
Spot closed quiet and steady. Sales 1850
bales, including what was sold yesterday
after hours.
+ Quotations are Lice up on middling; bal
ance unchanged. T. o. b. sales, none.
In view of a half holiday and higher
prices asked, interior buyers were not dis
posed 70 operate.
The failure is reported from London Of one
of the largest limited companies in the iron
trade. with capital of Is gG2, 740. of which
q, III, 800 is still uncalled and will natu-
rally be called in now. The iron market is
generally looked upon as the pulse OF trade