New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-03-13
COTTON CLIMBS HIGHER.
REPORTS THAT JOHN II. INMAN is ENGl-
NEERING CORNER.
MAY AND JUNE SELL AT THE SAME FIGURES
SHORTS IN A sEMIPANIC-sMALL STOCKS
IN LOCAL WAREHOUSES

IN LOCAL WAREHOUSES;.
There was another sharp rise In cotton yesterday
talk OF corner In the May option and numerous
symptoms OF the market being on the edge OF
bear panic Prices SCARED upward is points ana
lost only or g. closing steady. with the May shor's
In a state Of nervous depression unlike anything
they have experienced in months. II was SAID that
John H. Inman. who has amassed many millions oS
shrewd operations in Wall Street since he came 10
this city from Rnggold, Ga. had englneere"
corner In May cotton Attention has been drawn III
these articles before to the recklessness or some
peop,e who sell what they have not got The STOCK
Of cotton in New York warehouses Is only loo'"~
bales, an extraordinarily small amount IN we" vi
the rema rkaby large crop grown this year Last
year at this time 1t $4,000 bales THIS small
supply here sold probably twenty times over
the recent loI prices with a recklessness tnat
almost might be termed foolhardness With this
temptation TO corner the market at hand. 1t is not
surprising to signs OF such deal IL - not
possible to get the needed product mere from 'he
South 10 this short demand except AT hea'y
sacrifice for the cotton holders OF the South, as
rule are better posted their speciality than the
New-York tradors and they not apt 10 let II
come here without a pretty stiff value being set on
their holdings.
Not all the traders believed the reports Of a cor
ner hut some said II was only natural squeeze
Nevertheless the short interest forced the price
OF NAV 10 that Of June Opening a. $50. four points
200 flO bales There were reports from NeW-Dr'"ans
Of an uncomfortable shor; interest In March when
option closed twenty points higher at mat market
than the final figures Of Monday.
Liverpool surprised ths market by Ignoring me
decline here on Monday. and advancing points
with Manchester spinrcrs taking 1900 ha!os. FFl-
INTO cables from Manchester after the c.Ose were 81
a decidedly favorable character. saying that the
Manchester market affected by good accounts
from the East Of the prospects Of the China-Japah
war being ended the home market was Improving
summers exnected TO Increase their takirg'. and
there was more desire 70 buy than 70 sell In vie"
Of the rise OF cotton nearly 80 points from the low
est IN fortnight. the following comments on the
statistical position OF cotton by Atwood Violet q
CO. intete sting:
In dealing with the cotton market, the mind goes
not have to grasp enormous quantity instead Oh
hundreds OF millions bushes OF wheat', nut on
the contrary the average Of tn crops OF ths 'as
six years Is less than sc""' pales. anu ioi ,m
previous six about $4,000. and as We showed yes
ieriay. tho world Il taking about - naies OF hs5 h
can cotton out Of every 100 bales. OF al klhds o'us
hy the European spinner while the American I Con
slmer has taken 2soG9 against i6l5o Las, ye ar
mand Tor ihs crop IS N following: United states
81 or assinst .s7ocra last year while he agsre.
gate stock az these same ports Is only y'v" asa1a
house is 90 against $500 last year Cotton can
moi be brought here from the South. except az a
l3s; ani eesI' tns S'u'n iet q tbs crop. and
hoi.ae il Tor higher market.
hubbard Price q CO. say
our advice. from Liverpool today stat ina, ,sc
impr ,vemcnt abroad wa "a" tH' aim - Il me
an. inter-. a, tA' i l., ~ y, an sc,sc demand
In N,n-i'c,.er where b. Wa reported that pr.c.s
~, 'n1,r Iia nrs.v 10 IN. covering " local
operator who wls disappointed at the i2lure ~ me
rs'e'. NJ ,7. p.ris /. would seem a. though ne
th.rg. 10 thr temper 20 no" -i"'"i' ,llnl, 80 ~.
f,.t up1n prices .uI i ac-)mpAg!.! b. rednr.I.n
30 acr age N t9e S.uh IN, mark, We, ,re,g@ is not