New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-09-11
ANEXCITING COTTON MARKET
PRICES BOOM ON THE BUREAU REPORT.
THE AUGUST CONDITION FIFTEEN POINTS BELOW
LAST YEAR-TExAs THE WORST OF ANY

THE AUGUST CONDITION FIFTEEN POINTS BELOW
COMMENTS ON THE REPORT.
The Bureau report yesterday made the condition
of the cotton crop for the month OF August
70s against $50 last year and He last month.
The announcement from Washington created
Wild excitement on the floor OF the New
York Cotton Exchange, and prices bounded up
twenty points in less than that 0umber OF minutes
The trade had persuaded itself that "A was about
the right thing expect and under this oelief and
a fairly free port movement quotations early had
fallen ten points Liverpool closed an hour before
the report out 2H-6id under this sense
Of security The announcement was rude
awakening for the shorts here. and their EFFORTS 10
cover resulted In wild scramble In when quota
lions on the floor varied much as five points
within a few feet at the same moment. January
rose from sls to SSs closing at s.s4 The volume
OF business swelled TO 10000 bales, and at night
fall there fevershness and uncertainty as to
the course of Liverpool to-day. The worst feature
of the report was fall In condition in the great
cotton producng State OF Texas from Il TO 90, the
worst on record, and due to worms, weevil. sharp
shooters caterpillars drouth etc. Bear traders said
1t was Incredible. But the private news still. poured
In from Texas. apparently confirming the Bureau
figures The superintendent OF the Southern Oil
Mills AT Houston said that Texas would not make
over 500 900 bales The drouth still held there I'M
broken II was maintained that the condition OF
the crop has greatly deterorated since August 81
the date on which the Government received It's re-
plies.
The New-Orlean market was strong ana active, ana
sbowed more response TO the Bureau than this
market closing prices there being within eighteen
points OF this market the normal difference being
over thirty points A New-Orleans bull placed bet
here OF 81 900 that the crop would be under I,0UWo
bales and made these offers. but could find no
nln0 hala m
that Texas Itself will not make 100000; 50" even
that Louisiana loses 80 1-3 per cent. and $1,000 to
5000 that the total crop is under $4,000
Commenting on the report Hubbard Brothers &
Co say:
What the effect Of the report will be upon Europe
can only be surnsed as the reported condition Of
Texas is worse than anybody expected especlaIIy
ated since the lst of September more rapidly than
during August. The question OF price VIII now De
dsnost,,on NJ the spnners 10 believe the report.
buy cotton at present prices
Atwood Violet & Co. write as follows:
As the New-Oreans Exchange keeps in close touch
wired our friends there asking for the estimate or
dsares and the reply is 5$5Ooo bales FOR the crop
or 3,55O000 smaller than the crop endlns 3lst UT
and estimate for Texas on THss ye
figures and though the estimate may be 100
low at the same s 1ney "a IN other
words II looks though this crop might be In size
but very little more. II any man our tota exports
during the last season. or t'loVo
Price Mccormick & Co say:
This condition amply confirms the unfavorable
renorfs recently received from private sources and
Indicates a small production next season. The fact,
however that the Texas condition Is placed at IS
ner cent as compared with Il las. month. deserves
Some consideration and In all probability Will, upon
a more careful reflection. show disposition 10 dis
credit the condition as reported by the Bureau Ex;
lstng conditions appear 10 have been pretty well
discounted by current prices and the course OF the
market from this time forward Will depend prln-
cJnaiiy upon the volume OF the movement.