The morning news., 1894-11-11

at all interior towns. were 311.7I bales.
The receipts from the plantations were
~, ,06f bales. The. crop in sight is s, ,45O, los
Dallas. Tex. Nov. -Cotton-Weekly
receipts, 4.574 bales; shipments, 1864; stock,
New York. Nov. IO.-The Suns cotton
report says: Cotton declined 10 1
points, recovered this and advanced
point, in some cases lost this and de-
clnod TO 5 points. closing barely steady.
Sales were so 100 bales. LIVERPOOL was un-
ehansed on the spot VITA sales OF 5000
bales. Futures there declined = a point
and closed easy. Exports Of yarns from
the United Kingdom this season were
195. .4SI 500 pounds of yarns. against l6g.-
year; exports of cloths thus far this sea-
son were 4,4Sl f9l,S0O, against 3,SN6, ,9S5, 500
yards for the same time last season. The
CROP estimate based on the bureau re-
port range from S,500,O00 10 g..51.O0d bales
although in some cases they ran as high
as 100000 10 l0,250,00O bales. The major
ity of estimates were 5000 900 TO $3.50, 900
bales. The consolidated stock in this
country is 999, sac bales, against $780, eco bales
last year, including a total stock in New
York OF 100047 bales. against .G74 bales
year ago. The Chronicle states that
the amount which came into sight turing
the past week was 640,1Si bales. against
59S,S46 bales for the same week last year;
that the total in sight to November 9
was 3,450,10S bales, against 2.12j 2SG bales
for the same time last season: chat the
takings by northern spinners up to No
Eember were 569.49l bales, against 531.-
80 bdteS lot a IKE DellD4 last season.
The increase in the amount in sight last
night, as compared with last year was
l29,SS2 bales. Port receipts to-day were
estimated at 5O,952 bales against 81 40t
bales this day last week, and @95 5)7 bales
last year New Orleans receipts on
Monday were estimated at 5000 to a.
Geo bales, against q. E}2 bales last Mon
day and 1880 bales last year.
The stock in New York licensed ware
houses Is 6iOe0, against 10000 bales last
year and $4,000 bales two years ago. EX-
ports to-day from the ports We're very
heavy. Cotton goods We're generally quiet
and they sympathized with raw cotton.
New York, Nov. 10,-Riordan & Co. say
OF cotton: The market was very nervous
to-day. The Liverpool report was the re-
verse of encouraging, and opening prices
We're a little lower, January selling on
the call at 539C. A rally of three points
followed, and this was succeeded by a
slump. in which January touched 5.56c
For an hour January tiuCtuated rapidly
between 5.37c and Sale. The market was
very steady at the higher figure when the
bureau report was announced, making
the average yield 1917 pounds against
1853 pounds last year and 179 pounds in
1891; when the crop was over 100000 bales.
dl,3- ddhe bulls we're not not pprep.ared for these
The close was barely steady at about the
lowest figures of the { ~, 537 being bid
Tor January. To-day's closing prices
mark about the lowest point which cotton
has yet touched. These prices are far
below the average cost Of production,
and though We may not vet have reached
laws of trade that a staple like cotton
should for any great length Of time con-
tinue to be offered below actual cost 1t
is not speculative selling which has
brought the existing extreme depression;
II has been simply the sudden precipitation
of an enormous crop upon already glutted
markets at time when speculation, which
usually helps to take care Of the sur
plus, is either absent or dormant Though
the past week has added 5i0184 bales to
the crop in sight, the bears claim that
this may be regarded as a sample of the
movement to be expected curing the re
naming weeks of November while the
bulls urge that the November obligations
of the farmers now being satisfied, a CON
siderable shrnkage in receipts must be
looked for; but the strongest argument of
the bulls after all Is, that no matter what
the crop may be- the low prices have
fully discounted it, The revival OF busi-
ness confidence following the elections
which has already caused a sharp rise in
the stock market, may at any moment
make itself felt in cotton We think
short sales extremely dangerous now, and
we favor buVing."