New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-02-27
COTTON CLIMBING AGAIN.
EXPORTS TWICE AS HEAVY AS LAST YEAR
FOR THE WEEK-BULL AND
BEAR POINTS.

FOR THE WEEK-BULL AND
BEAR POINTS.
The receipts of cotton at the ports yesterday were
1925 bales The exports Of cotton from the ports
were o. 100 bales For four days OF the commercial
week the exports Of cotton have Appropriated
SOoO0 bales or just about double as much as went
out in the corresponding days last year The sa.es
Of 1000 bales of cotton here yesterday Included ~
bales for direct shipment to Europe. The report
that Greek exporting house had secured ire'ght
room for the shipment Of 10000 bales from this port
was confirmed Ii Is believed that II the Commit
tee on the Revision of Spot Quotations on the sec
ond Wednesday in March reduces the dispropor-
tionate quotations the high grades OF cotton TO
fair basis with Liverpool this export movement
from here will be stimulated to an even greater eX-
tent than at present There is good reason TO be-
lieve the committee will act as desired in this mat
ter and not restrict the legitimate trade OF the
port Of Ncw-York The Black Horse Cavalry COW
cred yesterday The market closed from to =
points net gain for the day, the near months being
the strongest. March closed at 763. after selling
at 765: May at 772 after selling at IA. and August
at 7.s0
The bears of this market have beaten down the
price of cotton on the assertion that the crop will
be 900 900 bales If the crop IS VUO bales, lVoVVJ
bales should come in after March |. Those VINO De-
lieve that prices going higher say that every
one of these 900 bales will be needed at home by
,nas this year would still be 10000 bales under last
years aklngs and 100 less than secretary liester
saws they will require to run their mills III the
home mills take the l,OOp0U bales yet 10 come IN
sight there will be left for export the present avail
able stocks in America, 100000 bales Last year
after this time the exporters carried away l'UvOJ
bales II will be seen that the exports from now
on cannot by 100000 bales be as heavy as last year
if the exporters take every unDough, Daie Oh
cotton in America. Instead OF getting down below
last years level. however the export movement
is far above It. the shipments being twice as much
this week. as shown above, as tney %ere ioi W
corresponding days last year. ana the exporters
preparing, apparently, TO ship the stuff out at a
lively rate hereafter II they don't ship II out, they
out by Mr.. Neil; If they do ship It out they VIII
exhaust the stocks In America. Which Will It bef
1t is worth noting say the bulls. that even II tho
entire present available supply of cotton In Amer
lea 900 bales to Europe 10000 less than
went last after this time the exports to Eu-
rope would still be smaller than they have been in
year Of the big strike In Manchester.
The bears contend that American consumers VIII
not take 100000 bales from now on They say
that the vast invisible supplies kept from
last year will run them until the supply
comes The lowest estimate made by the bears Is
that American mills will take 10000 bales from now
the mill requirements of AMERICA only will the
600. 900 bales yet due this 7OoO0O-bae crop be
needed by home mills but al OF the surplus they
Der !.
Meantime. the steady buying Of spot cotton goes
on increasing rather than diminishing. The spot
largest by fer at that point on any day this sea-
son: Galveston sold 25lli New Orleans. 1890; Mem
phis. 100; Augusta. 525 The buying at other
March notices were light yesterday. and they were
easily taken care Of
Secretary Hester gave the semi-weekly receipts
Spot sales were 1900 in Liverpool. and the spot
and future markets were higher.