New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-03-20
COTTON MfRHETS BOON AG1IN.
THE HIGHEST POINT ON THE ADVANCE YET !
rorCIEp-BULI NEWS FROM ALL SIDES

THE HIGHEST POINT ON THE ADVANCE YET
TorCHED-BrLL NEWS FROM ALL SIDES
Cotton made another rush upward yesterday, the
MAY delivery closing at go 20 points above the
lowest price touched this crop. which was on
February Is Opening at advance OF to .
points there was no recession. and the final figures
were Il points higher than Mondays close. There
was heavy trading on the Cotton Exchange. and
considerable excitement. $500 bales being dealt
in The bull news came tumbling IN from all sides.
Liverpool instead OF declining in response 10 the
decline here on Monday, i6+ 10 5-6i higher.
equivalent to about Il points here Manchester
spinners took leOoo bales at the rise. apparently
confirming reports that they are bare OF stocks.
The markets FOR yarns and cloth were better.
the former being especially strong. Silver
Advancing Stocks were going higher Reports
from the South that unless the rain
ceased In the Mississippi Valley alarm would be
felt "a the crop preparations very backward.
Predictions came from New-Or.cans OF a big storm
expec,cd over the cotton belt about March 2S.
There was active buying here By Liverpool and
for Wall Street account. Those Who sold on Mon
day bought back their cotton as soon they
could The May option continued higher than
June Spot cotton was l-i6 cent here.
There was considerable realizing on the basis
Of g.. cents for August Receipts continue full.
but they had no influence the market.
The stock OF East India cotton at Bombay on
Thursday last was 1900 bales against 66.o0o bales
last year, and the amount ahoai for Liverpool and
elsewhere was 1900 bales. asans; 1000 last year.
The visible stocks OF cotton In this country show
only li70D tales in excess OF last year. The
Financial Chronicle" of March l6 showed for the
cotton week ending March Is, at thlrtyone leading
Southern interior points. 353976 bales. against SHSi
last year There was on shipboard at United States
ports 1870 265 against 1896, leaving In warehouses
1890 against 72l 623 last year. Therefore there
was at warehouses, at ports and at visible interior
points only 1900 more than last year. whereas
there had into sight Of this crop. from Sep
tember 1 Friday last 2,o290oo bales more than
year ago
The following comments OF cotton traders on the
present situation In that staple are interesting
Atwood Violet & Co. say:
and afioat for that port Is only l5S.oW more than
a year ago but Ellison. the European authority
on consumption and stocks. showed that on March
| English spinners had only lI2OO reserve stocks.
had 10000 against $4,000. and in these stocks are
included cottons other than American. As Euro
pean consumption il 1900 bales per week IL can
be seen that English spnners had less than three
weeks supply on February -, because. OF Ameri-
can cotton Europe Is consuming 10 to 50 per cent.
Ii should not be forgotten that prices at Liver
pool for middng still below the lowest prices
ever recorded there. namely, 3id. In 1913 and 1913.
the price there to-day being 3'td.
Price Mccormick & 60. write as follows:
The market tone unques tionably helped by
a continuation of the advancing market for silver
bullion. which though. seemingly, i'm part artif-
cal inasmuch the New York quotations are
ruling above those OF the London market. at the
same time reflect a somewhat doubtful conviction
that something is going TO be done for the white