New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-10-24
COTTON EASES OFF AGAIN.

DAY OF BEARISH NEUTRALITY-SUSPICIOUS.
DECLINE " TO 30 POINTS.
The cotton market fell off % to 80 points yester-
dav closing weak at the bottom. January closed
at SCI bid. The news almost without exception vas
bearish. Liverpool. though opening 6-Sid. higher
lost nearly all the Improvement The local market
eased off steadily throughout the session. There
was a disappointingy small export business. only
s7lS bales The total exports up to yesterday were
49i e59 against $3.50 last year The spot markets
have not yet recovered from the tremendous shak-
ing I'D in futures and business was small. New
Orleans sold 5000 bales at lac. decline; memphis
1000 bales at unchanged prices Galveston StD bales
AT I.c decline August 2S az &c. advance: New
York 42O at unchanged prices. The prices in Amer
lea are still above a parity with Liverpool. Inc
question is still. Who hold oui the longest the
American producer or the English spinner!
The sales on the New-York Cotton Exchange
were large, 10000 bales, indicating that liquidation
was still in progress, with pressure 10 heuse
AGAINST spot holdings in the South. Many selling
orders came from the South. There were rumors
Of impending trouble throughout the country pu1
they were not believed well founded. 1t was said
that big houses that bought on Tuesday were uoins
what they could TO hod up the market.
Port receipts large, 5Ooy0 against oS'V'V ias'
wear The serni-weekly receipts at thirteen interior
towns compiled by Secretary Hester. of the New
Orleans Exchange showed 1888 against liS'so'
last wear and n2555 in 1898. when the crop was
1900 600 bales Receipts at Galveston were l"'of
against H. IA last year and ll.6Co in 1893
spnners bought 1900 bales in Liverpool Inc
weakness in Liverpool was attributed IN part go 10
the undong OF "stradGles and IN part TO increases
port receipts AtOgeiher Was Dsar we adS
with this market January opening thefe DIT 0'''
The MANCHESTER Guardian says that the effect
of the great fall in the price is fe sharply IN ma a.
citv The speculative fever was not conli!eu 70
Iiverpooi New-York and New-Orleans but had
spread to Manchester The big drop mas deiloia
jzed the trade, and kilograms had Deeh IeS ti
there Withdrawing even the low offers previously
made and buyers were told TO await InstIu s:
The cloth market was stagnant. In some case
even orders for machinery had been cancelled, ana
the entire trade was unsettled as Iesu'' Vi ~
decline. ,. -, .. oor ,,olds
800 900 bales the price will 10 10 cents IT, on
the contrary the output is 100000 Da!es the present
The figure at $50 900 bales. and believe the market
will harden at about 9 cents. The balance OF the
weakly held cotton Will, In my opinion come on .nr
market this week. and ! do not look LOT lo"eI
nrjces in the next three months than those quoted
Monday or that may be made this week. me con,
sumption OF American cotton through1ut tns wo1It
10 Europe When the crop becomes distributed anu
once in the hands OF consumers. speculation ma
reached II is one thing 10 bull cotton in october
when receipts heavy and another IN the spring
when stocks are out of the way In second hands
The buying to-day has been principally by eN,
porters and for Liverpool account, az the iocai
shorts covered their cotton on me IisI uec.ihe
Those who have been In the market TOT iohS tiie
call attention to the fact that after a market mas
once declined In this manner II seldom recoVers
without passing 10 lower point. II mas Deen lelt
that this market exception 10 the seherdl
rule because of the known shortness or the crop
but II would that the decline to-day was
natural one In following the example OF most spec
uIatye markets 1T Is undeniabe that cotton has
passed into stronger hands, Dut IL Is also eEluenl
that speculation has received bad bow ana rs IN
process OF further iqudation.-(iupoard Bros *