New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-10-15
HIGHEST YET FOR COTTON.
ANOTHER SHARP ADVANCE RECORDED

WANING RECEIPTS AND ACTIVE AND HIGHER
SPOT MARKETS IN THE soUTH-NEILLs
EXPECTED ESTIMATE.
The bulls took control Of things again yesterday
an the New-York Cotton Exchange, and closed
ouotaons last night at an advance of IA points over
saturday January closed strong at 9l6, which Is
the top notch yet scored on this remarkable rise.
Bull news swept In over the floor all during
the session. The striking decrease In the receipts
in the Southwest and ut Memphis TOT the hrs'
time startled the bears both here and in Liverpool.
The mort receipts were 1855, against S0,929 last
wear: New-Orleans got 1474s against 25,214 last
wear: Galveston got 1879. against 2S3Z last
wear; Houston received only $50 against lo'a'o
last year. The spot markets OF the south were
active and higher Memphis sold 100 bales at Is
advance: New-Orleans sold 500 bales at lilo ad-
vance Charleston and Norfolk were each Is higher
New-York was Lie higher. New-Orleans was as
bullish as ever, selling only four points below this
market 1t was reported that NELL would issue his
expected circular tomorrow, and estimate the crop
at 65OOOO bales. Navasota, Tex, estimates 'nat
receipts there Will be 5000. against $4,000 last year
The agent OF a leading New-York cotton nrm re-
turned from a trip through the South with dolorous
reports of the condition of the crop. Gins were
renorted closing in Texas. receipts falling on at
interior towns In that State. and baggng oversoid'
This dispatch came from Natchez:
"On mills here Closed for want OF seed
OF this telegram firm here with extensive oou'H-
ern connections said 1T Is only the forerunner
OF what will soon be general from all over the
South and IL will confirm far as 1t is possible
10 convey the information that this crop Is DAN
gerously small one. 1t is sgnifcant-as the cotton
wear Is only six weeks old-that there should be
such a sign Of extreme shortage
The Weather Bureau predicted light frosts In he
cotton belt last night.
Liverpool was up 3-s4d., with spot sales of 10000
bales.
In answer 10 a query THE Chronicle" showed the
recaipts at Bombay and Alexandria to be three
times larger than last year since September l.
Cotton houses comment as follows
II would seem safest, In order to arrive approx
matelv az the ultimate size OF this crop 10 take
rho average OF lint production per acre Tor the zen
Years previous 10 the last one when was exactiy
iS574 pounds according to secretary Hesler oi .ne
New 6rleans Exchange the leading cotton sta
cal authority In this country. Deductlng only ~
per cent as the average loss from last year OF an
he cotton-producing States although we believe
II indicates only l2s pounds of lint per oo acre
Multiplying this by the Bureau acreage Oh 1870;
which is more than 100000 larger than that OF
.The Financial Chronicle or Latham, Alexander
a65 mounds OF lint per bale, We have Indications OF
a crop so dangerously small az TO Drlng ABOUT an
intrn in the price such would seem, just now 10
be unreasonable 10 say the least-'At"oou VIZ
lett & Co ;, ,,,,,, a,o 20 a re-
mort that NELL Brothers will shortly reduce their
crop estimate to 100000 bales AS the opinions OF
these authorities have great weight Win ioregi.
q circular reducing their estimate of the yield
IN tho above figures will result in largely IN
creased demand from both English ana Contl-
mental consumers.-(Price. Mccormick Co.