The morning news., 1894-01-17


memphis Char. 10 Wheeling s. L. E. l2A
michigan Central. 80 do do pre-. AS
STATE BONDS.
/ Alabama A.. IS Tenn, new set. IS. 9S
90 - 6-...'-.-..... 80 Tenn, new set. bS. 9S
La stamped Is. a5 Virginis s. : nref 20
NorthCarolina Is ~ Va. Trust Rec'ts S5
NorthCarOlina IS lis Va. Fund'g Debt. 56
Tennessee, olds. 60
GOVERNMENT BONDS.
United States As, registered. ....,....Il2X
UnltedStateS As, coupons. ons................lI2&
| United States 2s, registered. 95.
+Asked. ibid
Cotton.
! Liverpool, Jan. 10. noon.-Cotton, moderate
| demand; prices favor buyers; American mid
ding, 7-l6d sales 10000 bales; American,
! $500 bales; speculation and export. 1000
| bales; receipts, SO 900 bales; American 4sO40
bales Futures opened steady; demand mod
] Futures-American middIing fair, low mid
/ ding clause: February and March 2l6id.
! also 20-64d March and April, 22.64d; April
| and May, 2464d, also 23-64d; May and
| June, 20 64d, also 25 SAD; June and July,
| 216id; July and August S2-6id. also 30
64d' August and September, 30-64d. Tenders
! none.
1 p m.-Cotton. American middlinR fair,
! l3l6d; good middling, AID; middling, 4%d;
low middling, AID; good ordinary, 4]5d; or
Futures-American middling fair; low mid
! ding clause: January, ls-64d, sellers; Jan
| uary and February, 1S-64d, sellers: February
ana March, lS-64d. buyers; March and April.
| 2l-64d, sellers; April and May % 64Sl %
| o4Q; May and June 24-640l4 25-64d; June
and July, 4 2e-6id, sellers July and August,
| 42-96id, sellers; August and September, 49,
! 6An4 30-6id. Futures closed easy.
| New York, Jan. l6 noon.-Cotton contracts
/ opened steady at to points decline. fell
| yesterday.
New York. Jan, 16.-Cotton futures opened
steady as follows: January, S5c; February,
Z 9Oc; March, O7e; April, 16c; May S25c;
! June. $3.50.
New York, Jan. 1e 4 p. m.-spot cotton
| closed quiet; middling gulf SIC; middling
! uplands S3sC sales 302 bales
| Futures closed steady, with sales of 10000
| Dales, as follows: January, S9c; February,
&c; March, G0e; April. 8 09c; May, l6c;
| June. 2ic July, 29c: August. 8 34c.
New York. Jan. 1s.-The total consolidated
| netreceipts at allthe ports to-day were q, ,058
bales; exports TO Great Britain % i09 bales, to
Frame 6,l:3 Daes, to the continent 200 bales;
Total so far this week: Net receipts 76, ,426
! bales; exports to Great Britain 43 ,76O bales,
to France 1900 bales, to the continent 1922
bales.
New Orleans. Jan. 16.-Cotton futures closed
steady, with sales Of lO3.50O bales, as follows
January 46c, February 53c, March 6Sc,
April Z t5e, May SIC, June Z Ssc, July &c,
| August O4c, September -.
New York, Jan. 16.-The Sun says Of to-
! day cotton market: The downward move
| ment gathered force to-day under the impetus
OF large receipts at the ports and increased
| movement to the interior towns, a decided
| decline in Liverpool, falling quotations at the
| south, reiteration by Neill OF his estimate
| OF 100000 bales, some selling for Europe,
and heavy long liquidation for local and
southern account Prices dropped l3 to IA
points. Some European buying and local
covering caused a slight rally before the close,
and the last prices were II to ~ points below
the closing figures of yesterday, The New
Orleans receipts tomorrow are estimated at
| l2,OOO bales against 74S4 hales on the same
day last week, and 5 9ll last year. The trad
ing was very heavy. The sales were 27l, 400
bales Liverpool declined to AZ points and
closed easy. with spot sales Of 0,000 bales, at
decline of l-l6 d. In Manchester yarns and
cloths we're Quiet. New Orleans declined 10
TO Il points Spot cotton hCr3 was 1-1ec lower,
sales ~ bales for spinning. There was de-
cline Of 1-161I1s at nine southern markets and
they were dull. New Orleans sold 900 bales.
The receipts at the ports were 29,0 8, against
year T5gs fSg fsr fsT sSs wee eeF 4 g
against 78,4l0 thus far last week.
Exports from the ports to-day 20 109 to Great
Britain, 6 1913 to France and 200 to the contin-
81 points below the closing of Friday last. >
The decline has been a sentimental one
which after all. is the influencing feature in
speculation generally, and whereas the mar
ket improved during the past ten days largely
because of the confirmation of a small crop
by prominent firm in this city. the same
purchases were sold out in the past three
days simply because the movement was in
excess also because Liverpool did not re-
spond, as that market should have done, with
the encouragement given by New York and
New Orleans
New York. Jan. 16.-Riordan & Co. say of
cotton to-day: The break in Liverpool and
the rather heavy receipts gave the market a
downward impetus again to-day and the
slaughter of weakly margins on long cotton
was continued; March opened six points
lower at S.06 and rallied quickly to S.0S but
the pressure to sell soon changed the temper
of speculation and as the day wore on prices
gave away point by, point until March was
sold at 798, then the decline was checked.
Perhaps most of the timId bulls had sold out
at all events, slight rally followed in
which March recovered to SOB but in the final
dealings there was more free selling
and the close was barely steady with Sc. bid
for March. 1t seems to be time wasted to at
tempt to forecast the course of prices in the
immediate future 1t is purely a question of
the movement. Ihe break to-day would have
been less pronounced had it not been for the
estimate of receipts at New Orleans tomor-
row which IS 1900 bales against less than
5000 for the same day last year. Many OF the
disguised bulls were saying to-day that the
southern talk OF small crop must be all
false. 1t is said that Neill is now insisting
that his estimate Of 7,700,O0O bales is about
right.
New York, Jan. 16-Atwood Violet & Co.
say Of cotton: To-day is an illustration of
what we called attention to yesterday, name
ly: That while port receipts might be large
it might be on Friday only that the sources
from which they had been shipped would be
known. For instance, we might have 10000
port receipts one week, and vet at the end OF
the cotton week it would be found that visible
towns had reduced their stocks materially to
contribute to these receipts. Port receipts
to-day 90 900 against 23000 last year, and it
may be for the week that they will be as much
as last week. but even then we shall not have
as much in sight as the corresponding wee k
last year. The decline today. like that Of
yesterday, was due. doubtless, to the exist
ence of large, long interests which had been
created by the bulls and the conditions of las t
week and smaller receipts than were expected,
but the movement this week promises larger
than was expected The long interest threw
over its cotton and to-day March touched 7 90
or 81 points below the closing of Friday last.
The decline has been a sentimental one,
which, after all, is the influencing feature in
speculation, generally, and whereas the mar
ket improved during the last ten days be-
cause of the confirmation of a small crop by a
prominent firm in this city. The same pur-
chases were sold out in the last three DAYS,
simply because the movement was in excess
of expectations and because Liverpool did
not re pond as ii should have done with the
announcement given by New York and New
Orleans The crop is certainly no larger than
the trade had approximated week ago. The
only trouble being that too much of ii is com
ing into sight daily, instead Of being distribu-
ted over "A longer period. Our own advices.
which are certainly very general. covering
the entire cotton belt, not only give no reason
to think our correspondents are mistaken,
but en- the contrary every thing confirms
our maximum crop estimate of 1900 000 and
perhaps 10000 more or 700 900 less. At the