New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-05-19
COTTON MARKET SOARING.
THE AUGUST OPTION GETS WITHIN A
POINT OF CENTS.
HEAVIER TAKINos BY MANCHESTER sPINNERs
WITH LIVERPOOL STRONG AND AcrIvE-THE
MEXICAN wEEvII. RAvA0IN0 IN TEXAS.

WITH LIVERPOOL STRONG AND AcTivE-THE
MEXICAN wEEvIL RAvAoING IN TEXAS
The upward movement in American farm prod
ucts-wheat. cotton and corn-continued yesterday
and showed signs of slackening. The buoyant
feeling that Is spreading throughout the country in
business found Its reflection In all the speculative
markets Liverpool woke up to the fact that 10
cent cotton is not by any as remote posi-
bility 1t seemed three months ago. and Man
chester also showed signs of approaching that i'm
portant fact British spnners bought 1900 bales In
the Liverpool spot market at Lied advance. ana
futures there advanced 5-6id. Reports from this
side, persistcntly unfavorabe. regarding the
coming crop are at last beginning to be believed
abroad. On the New-York Cotton Exchange August
cotton opened at Cos, points over Fridays
close. 1t went to SO. but on heavy realizing sales
closed at $50. Wall Street again took hand and
helped to boom things All the news was as bull
ish as ever, the most significant telegram OF the
day probably being from Corpus Christi, Tex,
saying that the dreaded Mexican cotton weevil had
appeared there and was ravagng the crop. its
depredations rapidly extending northward This new
insect foe of the cotonplanter has set the traders
guessing. Just what 1t will develop into is some
thing they would like to know. Crop advices from
Texas Louisiana and the Carolinas as un-
favorable as ever. There talk OF a corner IN
August In both New-Orleans and THIS city. lhese
reports cabed to Liverpool made that market ner-
vous. Private cables from Manchester were OF an
cent cotton In the immediate future are now the
common conversation OF the bulls. and with any
serious setback this crop 10 cents will be reached
In a fash they say. Spot cotton was marked up
n cent here yesterday
The worlds visible supply of cotton decreased
5000 bales last week. The amount that came IN
sight was only $1,000 bales, making to-
tai In sight on this crop Of s4s2.472 bales. 1t is
not believed that over 100000 bales remain
In first hands. With the crop OF 1871
e5 thus practically in sight, the problem OF now
much will be carried over into the new year be-
Comes an interesting one On the statistical posi-
ton Of cotton Atwood Violet & Co. in their weekly
review say:
We are still three and a half months from, the
nearly two months after September before Eng.
land will begin to receive any 0i tne neW have
TO rely upon until october next as cotton aVa''a-
Of the seDIp H s As Ame2ean w
against 2ssls last year but there O mas come ,o
ssns S 1nls f ahe erence the
visible supply and the excess OF what mas CONF mo
sigh; is what in the EXCESS Of
Visible stocks Of American and as sEa o @ or
s than last year but as our ~. eXporss 80
since p nane them and
the excess in European stocks or l4lo'W nades,
shows how much in excess OF bs s! consumpton Of
American is about 10000 bales weekly more tha an
last year. they will have to continue ous'"s al
There has come into sight OF this crop ID Ihls
country 23O5 seS more than last year. but an Ihad
remains In warehouses in this country Is $500
haes at the ports and l37 900 at thrty-one ieadhg
Interior points weekly reported by The Chroneie
against aggregate last year OF oyLow OF ton
more than last year. Is IL any wonder that COTTON
should be strong It's merits and that Tn nid re- re-
mains of this crop should be so strongly heIo ~
those who own IT? What makes the position all
the better however is that Of this Si ND 1aes e VI
orleans have 372 ODo and on account or the large
short interest In each market they cannot part
S,ith ~ unless they buy their contracts II Is the
shor, interest unprotected in both markets that is
helping to cause the improvement enc WHICH, III o'''
To recapitulate, there is In warehouses , IN TINS
country CAS- 900 bales protect the two future mar
bets and 10 supply the exporter and Northern SPIN
Nor for at least four months. and perhaps more
To this must be added what must come into sght
Of this crop between now and september, when
ne estimate at 10000 bales maximum. IL we elm
ne+e the 40 coo bales represented at NewYork and
Neu-Orleans there remains $4,000 bales visible ana
Invisible. maximum to supply the wants ABOVE
mentioned