New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-01-22
ELLISON CONFIRMS NELL
FIGURES OF THE TWO COTTON EXPERTS
PRACTICALLY AGREE.


COTTON RISES TEN POINTs-MARKED INCREASE
IN THE SPOT SALES IN THE SOUTH.
The bears on the New-York Cotton Exchange.
who can see a shaved-tail Southern mule In front
OF cotton mill thousand miles of ana can see
the cotton MILL bought cotton yesterday Inc
more they bought the higher the price went. Whsn
the gong sounded the net advance of the day was
10 points. Hubbard Brothers Co. were again
heavy buyers. Price. Mccormick & Co. bought
cotton. Leopold Mandelbaum bought. The con-
OF opinion the floor was that MT Man
debaum bought 5000 bales, more or less March
cotton closed at S.O5. after selling at SO7 1t was
sos on the curb 1t sold low as 1871 at one
time.
The chief element In the advance was the circular
OF Mr.. Ellison. which was cabled from Liverpool
This accepted and much-quoted authority on cot
ton consumption in Europe practically confirms the
statement Of Mr.. Nell that stocks M European
ports are In danger OF total exhaustion before the
time the new crop reaches Europe unless the pres
of mill consumption is checked. Mr.
Ellison estimates the present weekly consumption
Of Great Britain at $4,000 bales. and the consump-
ton the Continent at 10000 bales week. me
stock In spinners' hands in Great Britain Is liooVo
bales and on the Continent $4,000 bales. On the
basis OF a crop of 100000 bales the present rate or
consumption will leave the stock in European ports
at the end OF the $4,000 bales, against l0o'-
90 bales last year. and the mills VIII hoid S'Vo
bales. against $4,000 last year Mr. Ellison adds
that the position is very strong IL VIII De porhe III
mind that Nel's estimate Of the crop is G.SooD
bales He stili sticks It, and his house Is IN
New Orleans where he get the very best in
formation obta.nabe about the crop. Moreover,
up date the crop movement bears him out. IL
his crop estimate IS right his predicted total eX-
haustion OF stocks OF American cotton In European
ports by October !. unless mill consumption Is
checked. will come true.
No news came in yesterday from any source OF
single mill anywhere in the wide world curta'hhs
consumption By so much single spindle The
Manchester and Lancashire spinners Increased Their
purchases Liverpool to 10000 bales at an advance
OF l-32d AS was pointed out In this column yes
terday this rate OF takngs in Liverpool from now
to next November Will wipe out the surplus there
unless the imports that port Increase very large
~ over their present scale. Exports from America
to all Europe yesterday were only 1000 bales
The crop movement continues on greatly re-
duccd sale from last year. and gives no sign OF
deyatng from the usual course OF cotton crops
year in and year out Port receipts were 2fo9S'
against s 5l2 last year. New Oreans expects to-day
5000 10 5000 against $3.50 last year. The interior
towns got less than one-haf OF last years receipts
Augusta got 4e2 against 1852 last year; Memphis
,2n against ie1 St Louis 273. against Gl2; Gin
clnnau 1871 against CSC. and Houston 5.i75. against
l5la2 Houston expects to-day 1920 to $500, against
5637 last year.
The spot markets were unusually active ana
rising New-Oreans sold 500 bales. Memphis 5Noo
Nrw-Yoyk was up i-c.. and Ncw-OrleanS ana ga
vannah l-lGc The greatly increased sales AT New
orleans. Memphis. savannah and Galveston $40"
thar somebody Is after the cotton AT last ,,,
Things are fast drifting into the condtons "hich
inyarinbiv bring about manipuations OF the future
market and crop corners by big operators, sdiu q
broker on Cotton Exchange yesterday. ~ we suo
through this summer without seeing a squeeze In
cotton In some months VIII be surpr!s'u. ILL.,
al siS tS Ri.""'0'' "''' ~ 'a. .,,'.,,,. ,ov.,
10 I'M n IL
rrmrmbered that over against the greatly depleted
stocks Of coqn ~, ns !. E%sep pc hs ne
There Is weight OF cotton on hand ggmaiJv 70
hing about A repetition Of the 2isc. rise OF the
spring 81 $50 will be continuous selling py pears ."
Much interest is manifested on the Cotton o IS
change n 20 the outcome o, Inc ,,a thev viii
take 10 reduce acreage. - ..,l h,che.
Tho Liverpool market was S.e4h. 10 '-'''' "'7"'
tn stock quotation Tels Company ot the
following amazing statement over - cation
VICES from Grenada Miss. 10 a pr0inlh'tt 49, 49,
tgy than at any TIM IN .rI ., on hand ~,
farmers st have her Snure GfVI p, VIII Mi show
concusvely that the size Of crop mas n.em r are
estimated The preparations Tor the H." ''0P "''
ThIs Is the bodies, and most barefacei ATTEMPT tempt
which has been Wais eS and deprScae quotations
I'm the interest Of bears that has be'h h,M'. tDt
ionr dine The name ~ this imagimary PrGinlmE'Ts
cotton arm To which this astounding falsenood ~
reported To- have been gent is not given Hreha9 t'
Mis- IL a small village Of less than iop .hht Az
t,n;s which il situated IN Greiild 'o"n,S, .hn.,
whole county has a total pOpu atoH OF 70 t' .,
On -, inhahlfanfs or what value can SUCH sun
AS ,his be- coming from such niue NH aas' p a"
Grenada I'm such a little county as t'rehaua. nut
~ The village OF Grenad1 l.. small ana the county ~
small the capacity OF somebody IN 0rehaia ~ " ="
Inc orr. Of the Stock Quotation Telegrann OH
panv-for colossal falsehood must DE pio"b'o"'H
large o.-,- Quotation, raleq.,nh
comnanv havo n right to complain most seriously
whom IN. ticker service Of that company u NM Il,
TO serd out such outrageous lairenoor 90 49,
The company owes II 10 its supsc.lpS stitv for
thorough inycstlga tior. to fix the resp5iisln
sending out this amazing and extfaoI,.''n,SS az, nave
hood 10 denounce the person or persons VINO i,", -,
i'm nosed upon the company In TINS way az" ~ W
make an apology to al its subscripeps' o - ' IN
Stock ouotttion Telegraph Company proposes ~
aid Wall street bears to ruin values T. pIeah n9w
mutations 10 carry a campaign oi ms , ~,
t,.lon and falsehood. It's subscribers want 70 hnu"
II go that they can discontinue their supscrlP'u
No ticker service retain the conhuencs " 10
Subscribers II sends out such stun az INA ,hica,
out giving the name and address or inc my ~
.proninent cotton firm and of the my'hic"' "ie"
ada correspondent