The times. [volume] (Richmond, Va.) 1890-1903, 1892-12-02

THE COTTON MARKETS.
NEW YORK, Dec. 1.-Special.-lienry
Cloves & Co.'S daily circular letter says:
Futures to-day opened easy ut > points de-
cline, and continued 10 decline during the
day. until a loss of 20 points was estaD-
lished. Towards the close q pOin,s were
recovered, the market closing firm. Liver
pool was weak today. declining l-6i on
futures. with sales Of 10000 bales q spots
Oyer-SpeculatiOn on the bull side has now
caused "A break Of 60 points from the high
est, and also encouraged free short selling.
Short crop reports are constantly arriving
from all the cotton States, but fer the pres
ent many planters are taking advantage
OF the comparatively high prices now rullhS
20 market tLeir cotton. The South mas
again been the most prominent sellers, as
for several days past, while the sentiment
here is rather in favor Of better prices.
NEW YORK, Dec. 1.-The following is
a summary Of Hubbard, Price Il COS
daily letter: Some decline was naturally
TO he expected in Liverpool this morning
as a result Of Yesterdays weakness in cur
market. But this morning quotations sur
prised the bears and disappointed the bulls.
The first cable from the other side re-
ported a loss of 5-G4 i'm the price Of futures.
Later cables advised a further decline, and
at lAf 'iNN' wv MAJ - nHR . ~
on yesterday. The London Times, in It's
financial article yesterday published n state
mcnt. according 10 the press dispatches
printed i'm America to-day, intended 10
show that the present rise in cotton Is
without precedent, except during the Amer
lean civil war, and that the movement is
wholly speculative. Middlemcn. It says,
are buying as fast as they can in the face
of the bad state of trade and the strike in
.F -. HI. lnanaa % nn~
proof Of a diminution Of supplies, the esti-
mate Cf the American crop Of 100000
bales is probably. as was the case last
year. greatly under the mark. In cOnclu-
sion. the article SAYS, inasmuch as AT least
5.OOO.OOO bales have changed hands in
gambling operations. II may not be out Of
place to hitter a word Of caution. Although
the London Times is not an authority on
the cotton trade, or in any sense Il trade
journal, our cables advise that this express
sion of opinion from such a source has had
an important effect upon the market tc-
day, and IS doubtless responsible for a
part Of the decline established. In our own
marLet the fun extent Of the weakness
abroad was not known at the opening, and
the prices first made here were only about
g points below last evenings figures. a
subsequent decline Of about 4 points was
followed 10y a reaction 10 about the same
extent. and then the market again became
weak, and by 1 o'clock March contracts
had sCld at 9.G1. a decline Of 20 points as
compared with yesterdays prices. Bombay
receipts for the week ending today are
-. 900 bales, against 5000 bales last year.
During the afternoon the market was ner-
vous and unsettled. March contracts sold
down rs low as $50. and recovered Ia
0.G7 Just before the close. which was steady
at these figures. Final prices are some IA
points under yesterday.
Cotton-The market opened ut a decline
Of , points, but the speculation was slow.
Later longs began selling freely TO realize
profits, stimulated by weaker advices from
Liverpool. and prices dropped 10 &c u
points. Then the market became stronger
and advanced Z to . points on a small crop
movement. The receipts for the day are
stimafed at 10000 bales, against 3G,295
bales last week and 1880 bales for the cor
responding day last year. Shortly before
noon the market again turned weak, and
prices declined q TO . points, and at noon
the market was moderately active and easy.
During the afternoon the market has been
active, and under a pressure TO hquldate
long cotton prices have declined II points,
quotations ruling at II 40 o'clock, followed
by a recovery Of 6 10 I points. The spot
market is quiet at 3-16 decline In quota
lions. Middling uplands, 9A; sales, 227
bales. Spot cotton closed quiet; g. o.,
s 80; /. NJ, 0 5-16; middling, 9A. Futures
closed frm sales, 452, GOO bales; December,
03Im9.39; January, 0.4309.44; February.
9.54d0.55; March, 9.6GM9.G7; April, 9.769
or; May, %9.SGu9.S7; June, ~0.96a9.97;
July, 1"O.OSQ10.O5; August, 10,091lo.11.
GALVESTON, Dec. Lotion steady;
middling, 81; net, S,O67; sales, 500; stock,
153.49j; Continent, 5,402.
NORFOLK. Dee. l.-Cotton nominal;
81: gross, 1889; sales, 3S5; stock,
Al, $50; Coastwise, $40.
BALTIMORE. Dec. 1.-Cottcn nominal;
9%; stock, 1882.
BOSTON, Dec. 1.-COttOn quiet; middling,
1916; net, 752; gross, 1909,
WILMINGTON, Dec. Lotion dull; mid
ding. 01s; gross, 1887; stock, 1881; Coast
wise. 40.
PHILADELPHIA, Dec. 1.-Cotton quiet;
middling, 1917; net. III; gross, $50; stock,
l.2G7; Great Britain, 5SS.
SAVANNAH, Dec. LECTION easy; mid
Hing, 0H: gross. 4,413; stock, 97,243; Coast
wise, 4,19j.
NEW ORLEANS. Dec. 1.-Cotton easy;
o 9-16: net. 6,054; gross, 6,205;
,ales. 5000: stock, 2O7,3O3; Great Britain,
"A. 2O1; Coastwise, 2,295; Continent, 2,4l7.
MOBILE, Dec. 1.-Cotton steady; mid
Hing, 9M; net, l,O1O' sales' l'VVV' stocA'
q, 252; Coastwise, 3Ol.
MEMPHIS. Dec. 1.-Cotton quiet; mid
ling o 1b.16: net. 1858; gross, 3,447; sales,
$50; stock, 90,571.
AUGUSTA, Dec. l.-Cotton quiet and
teady; middling, OK; net, LAO; sales.
,105 stock, 36.073.
CHARLESTON. Dec. 1.-Cotton quiet:
9M; gross, 1870; sales, S,025;
'oastwise. 5,047; Continent, $3.50.
CINCINNATI. Dec. 1.-Cotton steady;
10; net, $500; stock, 1910.
LOUISVILLE. Dec. Lection weak; mid.
ling or.