The morning news. [volume] (Savannah, Ga.) 1887-1900, 1894-07-14


New York July 13-Clapp s. Co., in their
cotton review, say: Rain storms in fully
three-fourths of the cotton belt have prac-
tically injured large crop. Texas sends no
bad reports, and claim they will secure the
largest crop grown at the least cost of produc-
ton vet known. The northeastern cotton
belt reports drought and "A backward condi-
ton in many localities. The Egyptian cotton
crop is estimated a roo. 900 bales 800 pounds
each. During the past decade the New Eng
land merchants have imported from about
1000 bales TO about 1900 per annum. This
season imports Will likely be about $1,000
bales. This cotton is used for making thread
and goods requiring a silken or lustrous nm
ish and for mixing with American cotton.
Evidently Southern Russia will ere long be-
come a competitor in cotton and may stirnu-
late American planters to use improved
methods. Cotton seed hulls are very fatten-
ing and used for feeding live stock especially
cattle"
New York, July 13.-The Suns cotton re-
port says: The Liverpool dispatches were
disappointing TO the. bulls, Manchester was
depressed, the crop news was generally IA
vOrable. Europe sold here, there was some
liquidation OF August, new bale was re-
ported at Galveston and II Is stated that new
cotton has been sold in Boston for delivery
late this month. There was fair spot bust
ness at lower prices. The market is still
small one, and without features of striking
interest. one firm said: There was a bale OF
new cotton to-day at Galveston. The feeling
seems to be that this was forerunner Of
more new cotton in the near future, and some
SelllIg was doubtless Drought ABOUT OY this
fear. Liverpool opened and closed at about
yesterday S prices. We see now what has
reen apparent for some time, and that IS that
Liverpool holds the situation and unless we
improve We cannot advance. Crop accounts
continue very good and the general appear
ance Of the market is not q favorable one.
Should the American or foreign spinner come
into the market for new cotton It would, of
course, give conSidera BILE steadlness not only
to SPOTS but to futures. 1t Will be thirty DAYS
or more, however, before it Will be known
what their purposes may be-"
New York, July l3.-Riordan & Co. say of
cotton today: Liverpool again failed 10 re-
spond with any spirit to our closing rally of
yesterday and our market opened points
lower and then declined points more, closing
quiet and steady with 1920 bid for August.
The cotton growers, as a rule, are prone to
grumble and the fact that nobody hears
word of complaint now from any quarter OF
the cotton belt is taken as pretty conclusive
evidence that the crop outlook is ma ynih-
cent one. There was good deal OF short
covering to-day But neither this buying nor
the timdity OF many operators about selling
could sustain prices in the face OF the superb
crop outlook. There seems absolutely no buy
ing for investment, the only support 10 the
market being profit taking by the shorts.
The feature Of to-day's trading was the great
fear that the liquidation OF August cannot be
effected without considerable further de-
cline"
VISIBLE SUPPLY or COTTON The visible
supply OF cotton tonight. as made up by cable
and telegraph 10 the Chronicle July ., is as
follows: The continental stocks, as well
those for Great Britain and the afioat are this
weeks returns. and consequently all the
European figures are brought down 70 Thurs
day evening. But 70 make the totals the
complete figures for July D. we add the item
Of exports from the United States, including
in II the exports OF Friday only: go.