New-York tribune., 1895-12-22

BIG HOUSES BUY HEAVILY ON THE DE-
CLINE.
4 BREAK IN LIVERPOOL. AND TIE SLUMP IN
STOCKS KNOCK 81 A BALE OFF THE PRICE

A BREAK IN LIVERPOOL. AND TIE SLUMP IN
STOCKS KNOCK 81 A BALE OFF THE PRICE
THE WORST BELIEVED TO BE OVER
Cotton suffered more yesterday In the brief half
holiday session than any day since President
Ceveiands fateful Venezuelan message startled the
| world and precpitated a panic In the securities
market The break in values was greatly beyond
the most extreme calculations and a tremendous
pressure sell concentrated on the brief two
hours session made the situation around the ring
of the New York Cotton Exchange something akin
TO bull panic. Quotations opered on the call
with a breaking drop of IS to 20 points. equal
to 81 a bale below the closing OF the night before
This terrific slump dazed the most veteran opera
tors the floor. Prices after few brief moments
of steadiness further receded, until % points below
FRIDAYS finals had been reached. when buying on
heavy scale by Inman. Swan CO.. and covering of
triumphant shorts rallied the market 10 points from
the lowest. The close was steady at net loss OF
"A points for the day. March opened at 49, against
Sl Friday night sold down to 'S'. BACK TO IsS, and
closed at 7g. The trading was on an enormous
scale being 267 500 bales for the two hours lnman,
Swami & CO. bought. IL said. 1000 bales.
Other large houses were good buyers on the decline
The big slump caught innumerable stop-loss orders
at cents for March. and weak margins. and the
selling of brokers protect themselves against the
exhaustion of margins accelerated the downward
frenzed desire to unload at the opening. Panicky
reports were again coming from the Stock Ex-
change, and everybodys nerves were unstrung
The primary cause of the big drop in cotton over
night however tho action OF LNerpooi. winch
recorded sharp break In futures of 5ia English
points equal to IS American points, for Its <iif-
holiday session with spot sales reduced to S"W
bales with loss of 3-32d in the price. The close
abroad was described as unsettled. but the great
break there showed unexpected decentralization.
The movement Of the crop received very little at
tention from the trade entire time of the opera
tors being occupied looking after margins and stop
loss orders According to The Chronicle the total
visible supply of cotton is now 39l3's bales against
45Gi5G5 last year and i,iGsl0 in 1888 This SHOWS
decrease Of oS1S bales compared with same da'e
of 1891 and SOC Sl bales .ess than In l&" the total
American supply Is 36lc17S bales, against 4,2io5b6
last year There came into sight during the week
BLISS ba.es against i9. .S9 for the corresponding
week last year. and the decrease in amount In sight
as compared with last year. is l,sl2,i'o pales
Receipts at the ports and interior towns showed
great falling off from ,ast year. Augusta received
YESTERDAY 1G79 bales against l.&0 last year; Mem
phs. 1916 bales against i.is; st. Louis. H3 bales
against 1863: Cincinnati 1897 bales. against 4l@
bales and Houston. 6l6 bales: against l$ioi ia; &
last yar Houston ,H expects Year Port receipts
yoste ay we're 1900 ba.es against 57oo bales last @
ia'n: AGAINST u gSs bales last year. Port receipts
Monday last year were 7iSeS bales , in,
American
practically nothing doing. nor is much actual spot
business expected until the present market cond-
tons become more settled , . -. A.,
worst is over The crop is no larger than II was
before this trying ordeal in the futures marker. No
only is the crop no larger, but this war scare
bubble every sensible cotton man believes. viii fade
aEay TSc yp6rsby T of the ratsd States and England
sn y to d an gee oms in Is the
The dispute viii be be settled n n eor9ra5y wa sbo
they say just the Behring Sea, Alabama al IN
Vulnerable other disputes have Deen settled Mean
time every cotton mill is running in this country
and abroad and the worlds short supply Is being
exhausted at more rapid rate than was ever pc
the shortness of the is becoming more paipabiy
evident every day. the figures Of interior receipts
all not diminished by a single bale the actual posi-
tive consumption of cotton or altered the inexorable
the price The intrinsic value Of cotton is as great
now as il ten days ago. Cotton can go up say
the bulls. as fast az it can go down ana the loss
one OF the noteworthy things on the New-York
Cotton Exchange in these days is the trans'orma
OF the members of the Exchange are Democrats
and many of them Southern Democrats Heretofore
i',sO the Man OF Destiny Now ali il changed. Harsh
tho songs of praise formerly overheard They char
acterize Cleveland's message as a colossal crime
aId and hsrd-hit hit bank accounts and see the
great Southern crop diminished in value score OF
millions Of dollars as result or tneir ldoize9 res
and consiGn him 10 unutterable depths OF lntamy;
whore dwell Benedict Arnold and Judas Iscariot and
the worlds history synonymes OF treacEery and
black ingratitude. Al least that's the way they are
talking Just They are absolutely unsparlng
in their censure denuncation and invectlve, and
they say that If Cleveland were now running for
ton planter carry single Southern Congress
district.