New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-03-17
COTTON GOES HIGHER YET.
DAY OF WILD EXCITEMENT on THE
NETWORK EXCHANGE

QUOTATIONS. JUMP NINETEEN POINTS on NEWS
FROM LIVERPOOL. AND THE soCTh-A DE-
MAI. FROM JOHN H. INMAN
Tbero was almost a full-blown panic among 'he
hears on the New-York Cotton Exchange NeSei
dav During the two hours session '"e uP'o -
huvinr and selling was deafening and mon Oh
,,.,d and excitod operators tammed ana snrgeo
ro,,1 tho ring in the middle of the moor All
other advances made since this for"aro oNo
IN cotton began were thrown INFO "'e '
.erdav Cotton jumped up 10 points ana the NV
that came fror. all quarters was OIL '"'' 49,
70 stir the most sluggish operators TO ns"
,,,h n, excitement Liverpool was points
hicber for futures spots were UP. ana the Pne-
nomenal spot sales OF 1900 bales 10 Maho"
sninners were reported. The Oldest Ua"e'S ' "
Fxchonga cannot remember when 50 acuNe sp''
husipess was done in Liverpool on SaturdaS'
"Tbc Financial Chronicle reported that the ram
con had beeb heavy at many points in the Az
,a,tic and Gulf States, interfering with iari WIN
which Is already late and the cold weather a.
the close of the week had retarded operations "
tho Southwest. s,.,
Under these advices prices started up""'" w.
. rnsh at the opening of the Exchange, ana 'ne
,.I, "shor.s" covered their contracts az
antd,v as nossible The May future which coseo
on Friday at $50 oIjen at GLIB, and went pa"oolI"s
inward to sls June opened at ON aeaine' 90 @.
Fridays close. and August openeu al o'i0 .
go, on Friday. June went up 10 ol' anu 1"7
% so2 The total improvement for the Gay was
10 nojnts OF which 4 points were lost on reahZlns
a,as q, the last alf-hour. May closed at o'If'
r,,ro at e12 August at SIG and December at oS4'
The total sales the Exchange amouh'eu ~
1874 800 bales. .,,o.o,
The revival of speculation In cotton Is lhoica'eu
~. tho fact that the sales for this week on ue
Now-york Cotton Exchange have aggregated L-'oVVo
bales while in the whole of FEBRUARY INC Sio'
only amounted to 100000 bales
Spot quotations in this market were auN"",1u
9-ls cent a pound yesterday, with 'he man
steady The Southern spot markets were very n'''
ana advancing Many Of the small interior buyers
an the South are said to be short 10 uoin9o'.
and foreign spnners which. If true Is calculated
TO strengthen the position OF spot COTTON AuN'e
from Manchester that reports that spi'".
there were short of actual cotton 10 co'o' 'oi
for goods we're true. and the enormous spo' a'
soo,ned 70 corroborate the statements Inc oa'k-
ward nreparatons for the coming crop ais' "
mart accounts for the great strehg'h "Oi0
7, the midst of the pandemonium on the oodiu
Yesterday John II. Inman again appeafeu y" ,sns
Aoor and as on the day before MS p'ese"Oe
IN the excitement prevailing Mt lhiha" ma
torr,al denial that his house-1nman swami w.
was engaged in promoting corner III 'o''o.'
"Fr,ends Of mine" said he. bought cotton az y
.. A. cont n mound below present prices. IheF are
ho,dinr r. believing IT is worth more on us "'ei'S
tban at present The idea of attempting corner
with a crop OF 100000 bales II aos""
and no set OF men could DO H. u +,
When asked about the reports that 'he p.'i' ~
.aros,s headed BY his firm would demand 'he ue
ivory Of actual cotton May contracts ne iep"eu
that he could not say what would Dc Done
Nv Inran is one Of the shrewdest men VINO
,.er went into Wall Street. Common reports creol'
him with having made several millions OF ooiiaiS
T., onarat,ons in Richmond Terminal and o'her
Southern railroads and with having got the oe1'e'
~ the wary Thomas c. Patt in a big deal IN len
nAssee Coal and Iron. Shorts in cotton might "0t
mace too great dependence on what ne says aDou'
.ho non-existence of cotton corner Inc TACT 'iat
tba Nav and June options came together Eesterua!
saanoeJ "a indicate that the bear operators hau
feared deuge and covered at Dig loss ihoS' u
their contracts. 49,. ., ,o.
Cotton has now improved about 81 % paIe SIi'ce
March l. What effect this sharp rise VIII nave on
,ho ocraapa nroblem for the coming crop can only
ne surmsed The statistical position of cotton gets
daily stronger owing to the worlds enormous de-
noand for the staple There doubts about crop
of $4,000 bales being marketed out of the current
crop Regarding the absorption of this huge crop
Atwood Violet & Co give the following interesting
statistic:
The worlds visible supply Of American cotton TO-
and vet there has into sight from September
TO date. OF the American crop. Stos,VW dsdlilso'
$4,000 last year. excess OF more than Z,OtVpy'
whereas all that remains of the excess Is ooo'":
There remains in the visible supply IN Anerlcd, al
the United States ports ana larger Sopt , NJ
last wear The remaining 100000 has been eX-
ported and taken by Northern spnners. Ol the
American port stocks to-lay-979. 000-New-O Orleans
holds $50 900 and New-York 1900 great deal OF
the former and all of the latter stock Is held against
contracts and is not available Tor me eXpoTIei .!
domestic spinner unul contracts so!u "Sa'''"' -
have been covered