New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-07-02
TUESDAY,,
JULY 2, 1895.
COTTON GOES HIGHER.
QUOTATIONS ADVANCE THIRTEEN POINTS:

HIGHER MARKET IN LIVERPOOL AND SPIN
NERs increase THEIR PURcHAsEs-HEAvY
RAINFALL OVER THE COTTON BELT
Cotton had a further and more pronounced riss
yesterday closing steady ~ 10 points higher than
Saturday. August closed at b9S after reaching 6ss'
There seemed to be a genuine bull revival In prog
ress. and there rumors OF a strong bull COM
bination being formed. Liverpool acted finally as II
disposed to abandon her belief that all crop reports
from the South were necessarily false. Futures !?
that market moved up equal 20 10 American points.
and Manchester spinners increased their takings 70
1900 bales at advance Of l-32d. Spot cotton war
marked up II cent In this market. and sp'nneN
bought 258 bales The shorts were undeniaoly ner-
yous Yesterday over the Government report show.
ing heavy rains Saturday and Sunday all over the
already saturated and grassy cotton fields through
out the entire cotton belt. especially In Texas
telegram from Galveston said The News OF
that city would say to-day that reports OF the
Texas crop never so universally bad; the de-
crease and the damage up to date being fully per
New-Orleans bulls sent the following betting Of
fers here which were not taken: Five hundred do.-
lars to $500 that Texas. no. including the Indian
Territory will not make 10000 bales: $1,000 even
that Texas will not make 2.l5O000 bales. and 5000
to 5000 that the entire crop VIII not be 1oOoW
bales. Texas last season made over 10000 bales
4 cable dispatch from Liverpool TO Atwood Violet.
& Co. said
Market advanced in consequence Of rapid reduc-
ton OF the visible supply and nervousness OF par
ties who are short: splnners are heavily under con:
h INV freely any time now. Expect spnners to in
crease their takings and consider prices al very
low point. More desire 10 bay than for some time
The loss in visible supply OF American for five
weeks has averaged 5000 bales weekly. notwith-
standing extremely small takings by British spin
ners letter from Hampstead. Tex. dated June
g. says:
The continued rains here during the last two
weeks have made cotton prospects for this year
very serious question There are many acres OF cotton
in this section wholly abandoned on account or
grass and weeds The oldest farmers say they
have never known poor prospects since 1851 and
should the rains stop they could not make more
than half crop
A Memphis cotton buyer writes, under date OF
June %:
We are inclined to the belief that the rains in
Texas and Louisiana have been more serious 70 tho
crop than generally credited.
The rainfall In the cotton belt during twentyfour
hours reported yesterday included the following:
GeC5gaRoms I5s: TSscOa 49, Union Point
w Milsssfpp.Y hes p ey i Is
South caroi il@ III.
MontsDmeTy kSs .l EEsTgreen loa
Florida-Pensacoia 2&.
Tennessee-Nashvie. l.42
Galveston, Tex July l.-Heavy rains continue.
Weather now very threatening
JSy Ranps here ainces'anty
Port Gibson. Miss, July Lizard rain to-day.
Heavy rain to-day at Waco Jefferson and Texar-
Montgomery. Ala. July Too much rain.
To give some idea Of the meaning Of the above
mentioned precipitation. said Mr.. Violet yester-
day. Signal ONCE reports that an inch Of rainfall
one pound How many tons Of water must
have fallen on the entire cotton belt!