New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-03-26
COTTON HURT BY A FAILURE.

A DECLINE MAINLY DUE TO THE ASSIGNMENT OF
LEON & IL BLUM IN GALVESTON
c.,o, had % hear tho burden yesterday OF a
,o,,or Iivernool market and the failure OF the
larpes, drvgoods house in the Southwest. Leon u
IL Blum OF Galveston. with Liabilities OF >@ooo'V"
The firm was also said 10 be interested IN cotton
Then reports OF the Agricultural Commissioners OF
several Southern States showing Increased safes
OF fertilizers over last year. and the usual talk OK
had trade AIDED In depressing prices. The ISL
closed. showing . net loss OF to points the
pcar months, the weakest. August closed at 7.o2
which was at the bottom
IL was pointed out that while one mill IN Fai
River voted TO suspend dividends they did not vote
to stop their machinery. and the directors OF -FOUR
other big mills IN Fall River declared their usual
quarterly dividends OF per cent. and gave no sign
Of curtang these dividends or stopping their mills
Institutions that pay at the rate OF per cent
wear canno, be suffering greatly. It 10 argued de-
spite the walls that have come from Fall River for
the last four months In this connection II might
be- we'll to note that New-Engand capitalists are
preparing build another cotton nill In Aiapafna
which will be the largest in the South. and that
ground was broken at Spartanburg. 8. G., this
SweeL FOR a cotton mill Of 10000 splndles. AS for
the Increased sales OF fertilizers 1t should not be
forgotten that the sales last year were far oe'o"
The bears took great pains yesterday to call at
tention to the one NIL IN RAJ, i'te' IVA, abs,, the
Flint Bar lard. Wampanoag and StaHord mills,
which paid quarterly dividends or per, cent Inc
bears in cotton desire force the price down below
seven cents II possible Such mas been the poast o.
began last October. They want TO get the price
down below cents because OF the demoralza-
ton which such fall In values necessarily brings
In It's wake and which would make their schemes
and operations force down prices still further al
the easier II Is needless TO point out that IN the
existing situation in cotton the present price
IL far below the intrinsic value OF that staple on
the basis OF supply and demand.
The weather map showed that the rain ciouus
still hung over tho cotton bel, yesterday keeping
back tho preparations for planting. me hcs st
trade movement OF cotton showed no diminuIion
from the volume usual at this season. Spot sa eco
In New Orleans were 4S50 bales: In MeHlpIis' oo"
bales; Mobile, 400: New-York, i3I; 81 Lou -; "n
TIE movement OF cotton 10 the ports oohUr rr.
free. but did the exports from tne por's. -.
were 20 Sos bales New-Orleans expects tomorrow
2,lc0 TO 800 against 9.547 $780,. r,~.,,rr.
Secretary Heaters New-Orleans COTTON EAc'n =
statement: Soui-weekly movement at thirteen elu-
ms interior towns for lSSiLHecepts. a''o pa.sa'
'hIr-,erts q O5 stock PSI. 953 For lsso-heceipts.
"a ss5 hales Shipments +i0UG: stock, $40. 10 For
lseI-Receipts 1875 bales shipments, 2i%l; Stock
2l6.S -. 49,. .,,,,,o,
sales OF dress gingnams yesterday at the auction
rooms of Wilmerding Morris a. Mltcneli NOS. "a
men AZ among the most important OF the season.
The ginghams were made by tho Westbrook Manu-
featuring Company and consisted OF lef lots amount
Inc to 1900 cases. inc, Ling stable designs In light
and dark work which have been much In demand In
the West and South. The auction rooms were
crowded when the sales began an hour before noon.
firms as the H. b. Claim Company, the Drygoods
Exchange; Durham. Buckley e Col c. B. Rovss:
Harley BrotAsrA and 7. AothSaniA. Is Ais eityi