New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-10-11
EXCITEMENT IN COTTON.
TIE Er-REAIr REPORT CAUSES A SHARP
DROP IN FUTURES.

cpop covn,r,oxs TIE WORST OK RECORD. BIT
NOT As. BAD As THE BULLS EXPECTED
HEAVY TRADING AND WIDE FLUCTrNrIoNs.
The excitement on the New-York Cotton En-
change following the announcement ye"terday a'
noon Of tho Bureau report. was SAID by old oPei'-
TORS there not to have been equalled since the
wor The general public and the bulk OF the pro-
fessional traders had bought cotton heavily In eA-
pectation OF report showing the conditlon OF 'he
crop nearly az low GO per cent Before the
opening there was heavy selling III I'iVerpco' sau
TO have been for an American house VINO had got
n tin on the report. Liverpool weakened under
Il and closed 1-Gid. off Our market followed suit
and weakened at the opening. When the bureau
report showed n condition as high as 65l, quota
tions took a perpendicular drop, accompanied
by terrific excitement around the cotton ring Jan
uary cotton. which closed on wednesday al 3D.
fell like n shot to SIS. But ut this figure heavy
buying orders from New-Orleans rallied the mar
ket 20 points From this there was recession OF
6 or points under sales to take prohts. January
closed at s97 bid. The trading was enormous,
sales reaching 1872 400 bales. The effect of the re-
port on Liverpool will shape the course of the mar
ket to-day
The Bureau report will be found below. This
market has accepted the condition as pointing to
a yield not over 100000 bales New-Orloans takes
II to indicate 6.5GO,000. There was a report from
Ncw-Orleans that Henry Neil said II indicated that
amount. The October report OF the crop OF ls92-s3
showed a condition Of 1873, or 81 higher than yes
terdays figures The yield that year was 100000
bales This report IL the worst ever published. The
lowest previous was CO per cent. on Octover 10,
ISL when the yield $4,000 The substance OF
the report is found below
Before the Bureau report was received Peter
Labonisse the leading bull in New-Orleans, tele-
graphed here this offer:
BET s. 900 that the crop IL under 6,6OOeoO no
matter what the Bureau may say"
After the report came out and the big drop came
the New-Orleans man sent word that his offer was
still open. and added this TO II:
Bet 5000 that the crop is under 6.6oo.ooo'
No takers were found this Exchange for
these wagers. The bushness of the South was
what sustained the market yesterday New-Or-
leans at one time actually sold above this market
The Southern spot markets. except Ncw-Oi leans,
which was unchanged. were lice TO isc higher de-
spi,e the fall In futures Spinners bought 700 bales
in this market at unchanged quotations. Liver
pool spot sales were 1900 bales yesterday Re-
ceipts yesterday showed sign of slackening. the
ports getting S5,22l against $3.50 last year. New
Orleans expects to-day 1900 TO 1900, against l2%i
last year An Interesting budget of crop tele-
grams was received the Exchange yesterday, IN
GLIDING the following:
New-Orleans oct l0-Bureau reads worse tnan
the figures given. Neil says, compared with ast
years acreage and condition. indicates crop no.
over $4,000 bales. frost not considered Iexas no.
improved during September. NELL says : points
Improvement In Texas is absurd. .
here teeeraphs to leading Arm In New YORK rnds
the Bureau making Texas two points better Is
simply absurd Taking Chronicles acreage and
Bureau condition and comparing with 1897 indi-
Gates under 6,000.0o bales. ..,s
sherman, Tex. Oct. l0.-Receipts here one-third
paris Tex. oct lc-Killing frosts here; receipts
falling off. -. $500. -, ,,,sso,ri
Galveston Oct. 1o--The freight agent OF MISSOURI
Kansas and Texas SAYS crop along his road prac-
tcally in: estimates total at 10000 bales -
New-Orleans, oct. "a Houston telegram says y
Texas movement shows signs OF falllne OF neAt
week Think movement here about eliminating
also Bet 5000 against $4,000 the crop ~ uider
$4,000 bales; coo to 5000 that Texas itseM o Is
under 10000 bales 81 900 to 800 IL Is under '-o-
600: 500 10 81 00 that IL is under 6iNOoO SiVo even
that Liverpool sells at 5iy before August.
Vicksburg oct. 9-Passengers arriving mere on
incoming trains report that frost Killed cotton
everywh here in the rich bottom lanus or the 400
deI,a. also in North Louisiana. Rosedale, MISS.
and Pine Bluff report killing frost again ms morn
ing Grenada Miss. reports ice last night; ear
Hest record. - ...,... ,,.o,,on
Merophls Oct 9-Killing frost yesterday through
ont Wemphs district seventeen days earlier than
the average of twenty years