New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-07-25
NEILES CROP ESTIMATES.
A BEARISH CIRCULAR AFFECTS THE
COTTON MARKETS.

A TEMPORARY LOSS IN VALUES on AMERICAN
EXCHANGES ALL REcovERED-coMMENTs
on BEAR TACTICS.
r. NJ Nell OF New-Orleans, Is again essaynG
the familiar role OF putting out big crop estimates
I'm the summer and fall while the growing crop u
still subject the many vicissitudes OF weather, 10
that his friends. the British spInners
plen!sh their exhausted mill stocks at the expense
Of the American cotton-grower. Yesterday tht
champion bear and destroyer OF values did what Re
could to lower the price of cotton by putting cut
OF his circulars in Liverpool, estimating that
the growing crop OF cotton will yield anywhere from
100000 70 100000 bales He predicted that the
plus American cotton to be carried over this fall
will be 100000 bales. against 100000 last year Mr..
Nell bases his calculations upon a lint yield per
OF 200 pounds although the average lint yield
fer the last years has been lS3 pounds, and this
year less fertilizer has been used probably than in
any year for ten year,. He also estimates that the
acreage has been decreased only per cent in
Texas and 10 per cent In other States
Liverpool broke sharply under this bear assault.
ard futures there closed ut net loss OF 46id and
spots at i-32d. decline. Probably the English trad
ers VIII buy bs * Of Their cotton at higher
figures to-day when they the effect Neils cir
cular had In America, where the ,rop Is growing.
This market opened off points. nut recovered all
the lost ground rapidly. closing steady at Tuesday
nights prices and at the top figures OF the day.
october closed at $50. The l.VerpOOi selne orctfs,
which were quite numerous found plenty OF buyers.
and the volume OF business the heaviest Tor
weeks $50 600 bales changing hands. Switching from
August 10 later months again feature OF ne
day. Spot cotton held firmly at unchanged
quotations.
It was pointed on, that early last autumn Mr..
NELL estimated the current crop at 100000 bales
minimum and possibly 100000 bales The two
leading authorities practically agree that the crop
or $1,000 to 10000 bales short Of Nellls est.
mates. Yet the British spinner has great faith in
Ne.lls crop figures because they help him to get
his cotton cheap just when he needs IT, The FOL.
lowing comments Of NeN-Yorh firms show what 10
thought OF the NELL circular in this country. Price
Mccormick & Co. write follows:
The feeling on the floor is moderately bulllsh, and
the mos: prominent operators are replacing their
lions in the belief that we shall see ultimately
higher prices for cotton. Prominent members o, the
that trade in England is slowly improving. and, in
view Of the fact that the small Iakings OF Man
sarly have reduced their stocks OF actual cotton 70
very small proportions. it is more than likely nat
mand from that quarter. which vii. have siimu-
latng effect upon prices private dspscn from
there that Ners estimate is BIASED by his Interest
in the market.
Atwood Violet & CO.
This firm 6Neill Brothers, attempts. practically, 10
control the price Of American cotton By making an
Yield OF crop. Nnicn WI. Hos DC
known approx. maely. By any one until next sprlns.
or nv the Government even should they follow OUT
their present purpose OF trying 10 determine IN
April or May OF next year tas they have already
announced their purpose 10 co) what the resuit ot
,fpir inquiries at that time may show the crop BOW
growing likely TO realize. That estimates MADE now
aby parties those ews tails subject nave soma
weghu 81 the yield OF crop that has yet 10 g.
through mos; serious vicisstudcs. that has areaoy
encountered very many such, and far more .nsh
usual up 10 this date. should be made dls.n'eles''
edy he trade generally Will hardly believe
The Agricultural Department weather-crop report
for the week ending July % says that the week has
no, been uniformly favorable :or cotton. While
marked Improvement is reported from Alabama,
South Carolina and oklahoma and an improvement.
Is noted in Mississippi and Louisiana, in Iennesses
and North Carolina 1, is running TO stalk ana ,oo
u,,,ch rain has caused injury in portions OF AT.
kansas Louis ana and Florida. In souih"espe'"
Tcxas cotton is suffering from rain.