New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-03-04
COTTON MARKETS STEADIER.
BEGINNING TO RECOVER FROM THE CUBAN
FEvER-LARGE HOUSES BUYERS

Cotton moved along without any violcn; huciua-
tons yesterday. but was strong at the close. ana
10 , points higher than on Monday. August closed
AT Isl and May az 7i3. The fever!sh and stAry
feeling over possibilities OF cuban complications hal
begun 10 lose It's force In the light % reason and
calm dellberation It was hardly be expected thai
recent abnormal factors would remain potent long
Probably IL Is oversiatlng Il TO say that about Oh
Of the war on the earth develop into ac-
tual war. Even should there como about a
war over Cuba between this country and Spain
which no believes VIII happen-t Is
pointed out that Spanish mills could ge, all
the cotton they wanted from Liverpool, and
the only effect OF war would De increased con-
sumption by Spain OF that article. doubtless bni
these thoughts never come to the 'front.' uniI
day or SO after the breaking waves have
ewcpt over the speculative markets. Large com
mission houses were open buyers % cotton all day
Yesterday and after the close developed that
Innan Swami q so. had also been quietly absorb
Ing contracts II Was long after this time last
year that traders woke up 10 the fact that In
man. Swami * Co. had good many more May
contracts than there was cotton available TO meet
them good many ardent bears at that time had
TO step UP and settle. with the quotations heavily
against them. The situation IS more attractive
now than IL was last March. when an enormous
surplus pressing on the worlds markets The
ground has not yet been poughed TO receive the
secd FOR the surplus OF which the bears are taking
Meantime the normal volume Of trade goes on.
The steady consumption OF cotton that the bulls
IN cotton are relying has not suffered any ma
teral check. Sales good 300 bales at New
Orleans at the spot markets and the export OF
cotton In satisfactory volume. The exports yester-
day were 1900 bales The exports for three days
OF the week have been 1900 bales. against @'V~
for the corresponding days Of last year II mas
been pointed that II the foreigners take the
entire 23S 20 bales OF available cotton In America
from now they Will sim take 1900 bales less
than they took last year from this time on. Even
II they take every bale OF the 23S.co their takinss
for the entire year will be smaller than In any year
for nine years, except the year OF the big Man
chester strike and only about 10000 bales moro
than they took that year 49, -. .
Port receipts were 49, bales, against q. 900 last
year Interior towns also showed extremely light
receipts compared with last year. II If expected
that the interior stocks Will show a marked loss
this week.
New orleans sold 5000 bales OF spot cotton yes
,erday; Memphis sold 1000 bales; New-York 10
spinners) $685. Norfolk 677. Savannah, 49,. Mobile,
300 and Augusta, 6s $500.
Cotton has now within few weeks almost. SUI
fered a loss OF over two cents a pound. This II
terrific fall II Is lose OF over half OF the rise
Of last year and while that advance seemed a DIG
one yet 1t was from so low depth that relatively
IL was not large enough to justify such reaction
as has occurred. more especially as al tho causes
that led TO that rise still exist