New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-12-21
COTTON MARKETS SHAH EN-.
NEVERTHELESS, THE DECLINE Is NOT
GREAT
A LOSS OF ONLY TEN POINTS UNDER ihE TER
pIFrc PRESSURE OF UNAVOIDABLE IN
FLuENcEs-Two CHANCES FOR TO ONE
AGAINST THE GREAT AMERl-
CAN PRODUCT.

AGAINST THE GREAT AMEhi-
CAN PRODUCT.
Considering the tremendous excitement preVahHhs
IN the Wall Street stock market, the rapd upward
flight OF money. and the generally panicky cohdi-
,,o, n, things In the business world cotton held
ts ground grandJy yesterday. The close OF the
1ocal market was at a net decline OF only TO ~
no,nts and the tone was very steady LiVerpooi
closed practically unchanged ana hrm i'll Tone
Roth Liverpool and this market however eA-
ner,enced quick and tolerably violent fluctuations.
March cotton on the New-York Cotton Exchange
onened at s14 which was three points OF SOFA up
as high as SIT and down as low as eof, ou. cioseu
~ Ell The strain against the price during the SEES
son was terrific The ticker ran OH the news Oh
failure after failure on the stock EAchahse anu
inter decentralization prevailed In STOCKS "heat
,,as descending the toboggan slide in Chicago. and
money was baooning up to ~ per cent. mere
was constant unloading of cotton by 'hio hoiu-
ers throughout the country, realizing by STOCK
brokers who wanted money, ana DIE pressure
NJ selling of hedges against spot cotton heiu III thc
South The spot markets were lower an" "''e
doing in the South. spinners taking Ao'o Daies HI
New-Orleans but only LEO at memphis anu very
u,,,o elsewhere. although consumers took Sz Dales
No., ,,rtot at q decline Of Lie The political
.oo,harvane at Washington was closely watched
and the news OF victory OF the SILVER me" III
tho Senate and the Senates vote on the Nehezueidn
blI made the curb easier, March seinhg al QUO
Tho faith of the market that II gon went 10
oroiuno however cotton will be the nearest
eouivalent OF gold and that II war CLOUDS 'niehei
~. rr,tish and Continental sp.nners Will wake up
n the fact that they must have the present crop
ouick at any price. is deeply rooted III inc Minus
Of the cotton trade and sustained 'he pi'e 'o-ua'
The situation as 10 cotton was thus summed up os
John H. Inman in an interview with tribune re-
porter: - .., 90
"I do not think the situation has improved TO-
dow. on the contrary, think 1t has become more
acute have interest in the market AS i"
cotton this thing may work two WAYS mere nra ar
the chance of gold going a premium, ana our go
ing on silver basis, when COTTON VIII pe my ,h
chance That the foreign consumer If he appiIenehds
being off from his supply ~ the aGe' h Co 81
10 Stock up before the trouble comes This would 9
sharp urgent and 81 ,his in the
c losing at Liverpool to-day. That market and
NeYok are on pa n1anca amen ponbe Spreads
to south there may be dorced 1noa al sbs al
cotton BY bankers and other o sPot eppes the
ket This trouble under any crcumstances WI, WI
about that Believe that if It had been for the
Presidents message cotton would nave Deen nan a
pound higher today than II IS l os sysr
the chances even that we VIII be on SILVER
There were statements made that leading mem
hers of the Cotton Exchange had received messages
from Southern bankers during the day asking u
here These reports could not be confirmed how
with money fetching 50 per cent in Wall street
on stocks" said one trader, 1T Is not nkely n1t
much Of il will be loaned to Southern cotton hold
ers.' , - l.,
A leading cotton exporter being asked If he
thought the Northern and Eastern bankers would
call in their loans made cotton In the South
said he had no OF knowing. but he thought
was Southern money. and had been redeposted in
the banks OF that section by storekeepers Ihis
would make the situation easier. ~
As II by irony OF fate the statistical position
OF cotton has grown stronger throughout tne Week
but in the overshadowing business situation is lC-
nored Port receipts for the week, including steam
or Gearing with 5000 bales at Port Royal ard one with
$500 bales al Brunswick Ga. were only 2ZoVO bales
for the week, against 22S0O0 last week Stocks a I
thirty-one leading interior towns are now oof,p
The receipts yesterday at the interior towns gave
renewed Indications that the predicted 'perpendicu-
lar drop was hanV. New-Orleans expects to-day
5000, against 1900 last year; Secretary tester
shows the following: Crop statement from Septem-
Der l. 1885, to December 20 inclusive: Port receipts.
249 ba.es against 4s085T last year. 3,I1596 year
before last and 329s ass for the came time In lSyz
overland to mills and Canada. $685. against 1923
last year 5ll5S before last and 5l7,79 for the
same time 1892 interior stocks in excess Of Sep
TENDER l. 533 27l. against 44SlS last year. s1i year
before and $40 $50 for the same time in lSs2;
Southern mill taknGs. 3573S5, against BAL S29 last
year 9O5 045 year before last and 23i3 for the same
time in 1892 crop brought into sight during III days
to date 1906 25S against 6.3512l7 last year iS603
year before last and 4i4l2G for the same time IN
1892: crop brought into sight for the week. 322Vfi.
against 4s9 059 for the seven days ended December
for the same time in 1892; crop brought into sight
for the first twenty days Of December S2s 15 against
1854 $50 last year. 1l5S3I year before last and 5,2eO
for the same time In 1892