New-York tribune., 1896-01-24
COTTON RISES TEN POINTS.
MARKED REVIVAL IN THE DEMAND FOR EXPORT
\ BIG BUSINESS DOING IN LIVERPOOL

y
RUMoR OF A CORNER
Cotton rose 10 points ir the local market yes'er-
day, and closed at the top. The war boses ana
financial appariti ons longer squeak and gio-
ber' arovnd ;he ring Of the New-York Cotton EN-
change, affrghting the souls of l0-pont scalpeIs
The bear song Of hard times and fan In mnsihs
died away on the floor yesterday. The innumerabe
Groves OF Southern mules that have been eNhibi'ed
before the startled trade since January faded from
view The statement made In this column on sun
day that the long bear reaction In cotton had
reached its Limit on this crop seemed more EKeiE
yesterday than when first printed Ihere may De
reactions and selling on the bulses. just as mere
in 1890 but the assertion seems reasonable that
consumption and supply will set the pace in cotton
hereafter Cotton bears jeer at and derde hgures'
and say statistics the first evidences OF In
sanity" yet they lose time covering on the first
symptom OF rise. and never take the weather eye
from of ,he statistics. just the same The same
bears year ago ignored statistics showing now the
huge crop was melting away, and not until late IN
the spring did they wake mp to the fact that 1t was
gone and a short crop coming on empty ware
houses On the statistics cotton rose last year
cents pound.
The oft-tod tale OF large offerings Of spot cotton
from the South al concessions. which has been
used TO depress prices many times in past weeks
will have to be laid away for future use. in view OF
the rising spot markets everywhere Ine stories oi
duh trade hardly 1T in with the Significant revival
OF spot sales that being reported from every
spot marke, in the South. Liverpool yesterday IN
creased It's spot sales TO l2G0 bales at advanced
quotations Futures in that market rose nearly
26id 1t has pointed out. and il cannot be heid
up before the bears TOO often. that sales OF loNV
bales a day there will wipe out the Liverpool STOCK
before a new crop gets there unless mill consump-
ton is checked there is very much heavier with
drawals from TIE short supply on this side than
has been the rule since the season opened. Al the
frs, sign Of qniokened demands however the
price rises this side Of the water TINS was me
feature of yesterdays news. Exporters bought -N'
bales n this market. and spinners 26a New-pf-
leans sold $50 bales Memphis AeO0; Galveston l9is
Savannah i157, Norfolk 7O3 81. Louis 2S. Augusta
2ej and Mobile go Galveston, New-Orleans, Nor
folk Augusta and Memphis were marked up i-ioc
Exports yesterday Appropriated @'vo oaieS' OF
nearly 1900 in excess Of port receipts FORT re-
ceipts lTo5i. against 2S7cO last year Poi' re-
ceipts for the week. so far s2,22e against S'sb
last year. Port receipts for tie entire week VIII
drop 10000 bales below last year The interior
towns reporting as light as any bul Wah'ou 10
see them augusta got 2sS. against C'6 ias' year
Memphis 227 against SCI St. Louis Az. against
240: Cincinnati 699 against iS, and Houston -'4'i
against 7sn Houston expects to-day 9.clo. against
Gi15 last year There wa' nothing in these figures
TO cause any to think that Mr. Nell IS crazy
when he talks abou; crop Of t5oaoW bales or 'nal
Ellison has suddenly become daft in predicting a
total exhaustion Of European port stocks on lne
checked. Instead Of consumers ptrpatie 10 'S,eldr
ments of the week s;renst hen the l'ele mat
after holding off iiye moaihs 'ney are re cnnsos"n
OF cotton. however as they proDaoy .Npec'eu ILo
their prolonged abstinence they ma tae hnieiic,us I,
available supply less than last ysai ae h ae ~ ey
aggressive and stubborn and IN peter Smapr ro ~ a.
mateV ari ,eTS now SG"n the Strength of his position it
gets stronger every day
A great deal has been said about the enlarged sup
ply that is going to be sent from India TO replace
American cotton. The weekly report from lhaa' re-
cevcl yesterday. showed that while receipts al
Bombay were CA 600. against ilooo last year the Snip
ments were 2COo Great Britain. against lV" ias'
year and 10 the Continent nil against none last year
There to he few cotton mills al bohpd!
that need cotton as wei as Manche5.e.' r tho Nex
York Cotton Exchange. rose to Sl4, eased OH 10
sil then rallied and closed strong at sl bid Leo
pold Msndelbaum was bidding
There have been rumors for several days Of an in
tenticn to run corner in August cotton Ih.Se
iumors more frequent YESTERDAY than hereto
fore Some OF the more reasonable bears are M
clincd to doubt whether the unprecedented crop ol
next fall can be secured in time to smash corner
southern advices yesterday contained the follow
ing intelligence:
Dalton. Ga. Jan. 23..Crown Point Mills double
their capacity since April l. Increase in Dalton pop
New-Oreans. Jan 23-Reports about great sales
of mules largely sensat tiona Sales last year prac-
tically nil: year before. considerably under aver
age Experienced judges say average annual NOR
tay of cotton mules 10 per cent therefore, if stock
IS not repenshed this year. would necessarily cause
at Augusta Ga. same in New-orlesns. Looks
as though before July Southern mills viii have
10 pay New York prices for cotton 5000 onered that
Newman. Ga. Jan. 2s.-The increased cotton acre
age in this section is not likely to exceed per cent
Last year no mules were purchased ana very ntte
country and It win take one mule 70 each six men
20 supply the death rate and worn out stock. so the
increase in sale of stock is only natural Guano -
now used for winter crops of oats. wheat ana corn
where formerly 1t was used only i5r coiSn SOM
stocks are rapidly growing less