New-York tribune., 1895-12-27
COTTON GOES UP AND DOWN.
FLUCTUATIONS GOVERNED BY THE IRREG
ULAR HOLIDAY MOvEMENT-BEARS
HAVE DAY

~
The eccentricities of the christmas movement
broke up all calculations the probable course Of
prices on the New-York Cotton Exchange yester-
day. The port receipts for the day were ridicu-
lousy small only 9l32 bales. against A. 4l2 last year
On this showing and a steady strengthening Of
values In the stock markets, cotton in the early
trading was TO points over Tuesdays close. But
with Liverpool closed until next Monday and ho-
day dulness weighing down the trading, the con-
dtlons favored bear activity When New-Orleans
announced expected receipts tomorrow Of 1900 to
10000 bales against 6495 last year. the bears
nzed their cue and led by the German brigade
with William otherwise Rocky" Mohr at their
head made assault on values. These Germans
are wealthy, and when they attack the market
they do 1t with the reckless impetuosity OF the
Black Horse Cavalry. Secretary Hester's semi
weekly receipts were considered heavy and aided
the bears. AS a result of this short selling prices
fell 12 points below the highest. March cotton went
from sos to 1872 but closed at 1874 net loss of S
points for the day. Late figures from interior
towns showed a light movement, and the bear
aggressveness ceased. Memphis reported l,6Z
bales against 2s62 last year; ST. Louis, l,26S bales
against 74s; Augusta, 592 bales. against 167; Gin
cinnati GO bales against 3,257 and Houston, 1903
bales against 10951 last year Houston expects to-
day $500 5000 bales against 1874 last year This
Irregular movement is hard to base convictions on
The bears are predicting that by January the crop
In sight will be 5000 900 bales Bulls do not concede
this; they point out that the crop in sight on De-
cember 81, 1892 4.7904l5 bales, and there came
in sight after that date 19O95S5 bales. Up TO last
Friday this year there had come into sight OF this
crop 3l5 bales. Bulls do not believe 1t VIII go
above 1900 600 bales before New Years
Receipts at the ports thus far this week have
been 900 bales against l74.S09 last week.
New-Oreans stronger than the local market
the net decline there for the day being only 4
points or half as much here. Evidently they
impressed by the big receipts at their own
pert attributng the swell TO cotton forced on the
market by the recent furry in money and stocks
and to the irregular holiday comparisons
The semi-weeSly movement OF cotton az III thirteen
leading interior towns shows receipts OF 755s2 bales
against l03 H last year and Sos6 for the same une
in 1898: shipments 62,7o8 bales, against SIZE last
year and 81 s93 In 1893 Stocks at these towns are
now Al $3.50 bales, against 4s 1903 last year and SS4o
on the floor of the New-York Cotton Exchange
the dismal prophecies Of the bears as TO the future
OF American cotton are not more dismal now than
they were when cotton was selling at 3 cents a
Mound in the South They shake their heads and
saw that vast quantities of cotton are withheld In
the South: that nobody wants cotton any more
spinners and exporters still hold stocks OF unknown
bur size and the price Is oog1S % 3s TO SrT9
convincing II II were not that these same eo0Hy
forebodngs from the same men filled the & air when zen
war-on February IS. OF this year go
The bulls deny that there is any systematic with
holding of cotton throughout the South. They say
that at the time Commissioner Hector D; Lane
OF Alabama was advising farmers 10 hod on 10
pnsf poWerfE fEi'U and influential newspapers Newor
leans. urged the planters to sell heI pr9auG taKe axe
firms such as Latham. Alexander & Co., of this
city whose influence with Southern bankers and
Julius Runge. of the Galveston Cotton Exchange.
emphatic in their advice to the planters planters 70 u?
sell That they did sell say the bulls study OF OF
gave his advice shows: The receipts during tnat
period fell but little behind those OF the CORE,
spending time last year when the crop was record
breaker.