New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-08-22
COTTON STILL GOING HIGHER.
SHARP ADVANCES IN LIVERPOOL AND THIS MAR
KEr-BAD CROP ACCOUNTS CONTINUE

| SHARP ADVANCES IN LIVERPOOL AND THIS MAR
KEr-BAD CROP ACCOUNTS CONTINUE
| The steady rise in cotton. which has been COINS
! on now for about five weeks almost uninterrupted
| IT, continued yesterday and the highest prices OF
the year were recorded the local Cotton Elk
change When the gong sounded at o'clock tbs
net advance Of the day had been - to % points
and the closing figures very the best
though the tone was called barely steady. Cotton
Is now only about cent pound under the point
reached ast October on the big bulge which cul
minated In October in a grand smash. Now, as
then the OF the rapid uplift is the poor crof
reports: but the marked difference in the situation
from last year lies in the fact that the world
counted supplies OF cotton 100000 bales under
what they were last year at this time.
Prices in the local market started off with Juml
Of ponts in August and 10 TO 20 points In the rest
OF the list and before the first hour was gone had
worked I'D until the deliveries showed a net gain oil
% 10 30 points August selling at 80. January al
as and March at s.57. There was reaction OF II
noirts or so from this level but on a bullisf
weather map and good buying for long and short
account by brokers for Wall Street. Chicago and
the South. and specially heavy purchases said to
h for q PHILADELPHIA cotton exporting firm one OF
the largest in this country. the market moved w
strong again and closed almost at the top. August
onen.d AT s25 sold between SO and s44 and
closed AT 8 40: January opened at $50. sold be-
tween $ IS and 81 and closed at s+4 or 20 points
nm. March opened at SD ranged between So and
: II and closed al So
,rhe earlv strength was due to a remarkable rise IN
both spots and futures In Liverpool, where they
,,sd finally TO have become nervous over the crop
,rosnect Futures there closed l3-6id. over Thurs
da, eoual 10 IS of points. while spots were so
higher The most sanguine bulls never expected 30
handsome a response 10 the rise here on Ihursuay.
The LIVERPOOL weekly statement made the STOCK oi
Cotron OF all kinds at that port only $4,000 bales.
phil 10 ne :
lean cotton there is $4,000 against l4lco last year
a. this time II will be October before these short
ened supplies Will begin to Increase again
The later strength OF the market was based largely
on the continuing reports OF crop damage from the
South and the official weather map, showing clear
and hot weather all over the cotton belt, with no
rain whatever In Texas Louisiana. Indian Ter
ritory Mississippi, Tennessee. Georgia. or the
carolinas for twenty -four hours ending o'clock
this morning The only rainfall during that period
in Arkansas was 80 OF an inch at Little Rock. 81 At
Malvern and 2s at Newport. and the only rain re-
ported in Alabama 10 at Montgomery
These dispatches form sample OF food OF pr-
yate adyices received on the floor
Natchez Miscellany export demand for cotton.
No indicat tons OF rain. Weather clear and hot
New-Orleans Travellers from Charlotte to New
orleans report cotton crop from Charlotte 10 Spar
tanburg very good Spartanburg TO Gainesville fair,
Gainesville to Opeka poor; plant showing effect
from great heat and drouth.
Memphis Reliable people estimate crop at only
800 90 bales Say crop VIII be picked by october !.
Monroe, La.-Meetng here yesterday resolved 10
prepare memorial TO Governor to take action 10 re-
lieve wants OF farmers arising from protracted
drouth
Spot cotton in the Ioeal market was marked up
3-i6c TO $40 for mddlihg, with sales of 30 bales TO
spinners. Receipts continue heavy at the ports
but do affect the market. II is ascrbed 10 the
farmers eagerness 10 avail themselves Of the pres
good prices. Port receipts this week have been
36.s57 bales against 2.43I last year The advance
in Europe has put prices shipping parity and
exporters said 10 be looking for some big lines
for shipment
The counted stocks in New York licensed wsr.
houses are 6l.e1. against 10 06 last year
Brads,reet's New Orleans correspondent saws rha
drouth continues In Texas North Louisiana South
Arkansas ard Mississippi. almost forbiddlng new
business, and In many sections amounting 10 Gala M
iy Cotton receipts promise largely 10 exceed receps
IN any previous August. and quickly taken up al
the advance. ' "
Rrtds reefs Galveston correspondent says: Con
and complaints heard from all portions q, the
state. Merchants are very conservative In extending
credit "