New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-03-16
COTTON GOES STILL HIGHER.
4 SHARP ADVANCE MADE YESTERDAY

THE SQUEEZE IN MAY SOMEWHAT RE-
LGEvED-MR. IHMAH CAUSES \ FIuT-
TER AMoNG THr BROKERS
The upward movement IN c1't0n continued yester-
day. Opening at two points advance. quotations
cosed six 10 eight points higher than Thursdly
final figures. May cotton. a. on the day De'o'F'
owing to the big shor, nteroS. in it, sod I'VE points
above Juno. although In the natural condition q
things II should be savora points below It, Op Ming
al 80 May went quickly t. SOP. and there was
great excitement around tho cotton ring. In zee
midst Of it all John H. lHman created sensation
bv annearing on the floor OF the Cotton Exchange
Inman Swami a. 60. credited with promoting
a corner in May cotton and Mr.. Inmans appearance
therefore among the shorts caused scene which
might be Hkened to the tremendous hutter when
would follow the sudden descent OF a hawk INTO
dovecote Although Mr. Inman has an office IN the
Cotton Exchange. he has not appeared on the moor
for years.
II was reported yesterday that New-Orieans
o,ero, tor had covered short interest Of 5000 bales
OF May At six cents 1t Is certain there were large
deliveries Of the contract by commission houses III
this city and the pressing necessities Of the arbraSe
dealers was thereby somewhat relieved
Everything looked bulish yesterday, but the move
ment which continues an unprecedented scale
vet is As steadily absorbed. Liverpool was higher
Manchester splnners despite the higher prces TOOK
1900 bales though greater proportion OF II '"i'
usual was Peruvian cotton Yarns were very hrm IN
Manchester Silver was going up. Southern spot
markets were strong with sales % 5000 bales IN Ne"
Orleans spot cotton marked up l-is cent mere
Reports from the South the effect that coid
and rainy weather had delayed planting. especially
in Texas The average time 10 finish painting IN N"
South is about May s. Sa.es OF American cotton IN
Liverpool this week amounted 20 5000 bales, against
6iD) bales last year and 1900 bales in 1888.
Commenting on the local situation, Huooard'
Price Co say.
The local situation has developed the iac' tnae
the holders ~ May deliveries accumulated larBe
line OF cotton on the decline al aDoa1 a.. ait,e
OF present prices and they satisfied to receive
IA. cotton when rendered. Unfortunately. the coy
TON which has been brought 20 Newly ork TINS
ycgr has boon accumulated AT "A loss 70 me I'M,
rnrters and consists Of selected grades purchased
f,r mo roau!rerncnts OF the spinning trade. ana
lly.r.cs az they would =" unable - replace thr.r
holdings AZ satisfactory prices ms collDlfldt'Ol
tosethrr with that large portion, o, ""
arht,rara dealings between Liverpool and New
York was centred in this position raS caused ma
delivery 20 advance proportiOnately more than the
other positions. ana the EN- ot INV ''''P''N"0 -
not Yet clear.
Atwood Violet, & Co write follows
Tho cotton IN warehouses her" has not. AZ any
,ini. since the beginning Of this season september
l3st been anything near the Stock on thr 80! a.
srouIiuc davs % last year. The cotton that IL
hers Is being used Tor banking purposes Oy thos'
Who own IT, and therefore. those VINO are snort
without protection. must either buy IN l'T!' III
,rarts or get their cotton elsewhere. As II costs
ahou, IL points or - cents. bale 10 bring cotton
I.ra and certificate IL for delivery on contract IL
~ .ha,per to buy IN than 20 deliver.