New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-02-15
EUROPE TAXING THE COTTON.
EXPORTS 10000 BALES HEAVIER DURING THE
WEEK THAN RECEIPTS FROM
ALL SOURCES

The significant feature Of the weeks showing in
the cotton markets is the fact that while 1260OO
bales OF cotton came in sight during the week
there was exported to Europe about 10000 bales in
excess Of this amount There are a good many
cotton mills in America the proportion of whose
needs. compared with the foreign demand, Is about
three is to five. The American spnners have not
taken their proportion of this crop. nor have the
European spnncrs. for that matter Both have
bought sparinGly. from hand mouth They ex-
pected. probably, to wear out the holders OF the
cotton. the bears the exchanges predicting drop
TO &c. a pound when the spot holders got tired of
carrying their big stocks But small as the spinners
takings have been. they have been large enough to
absorb all the that in sight at greater
ratio than last year. when the takings OF the spin
ners were abnormally large. Thus it happens that
the available supply of cotton In this country Is
considerably less than it this time last year.
While the available supply in America Is
less than last year. the European stocks 1loOOO
bales less with more than seven long months to run
the mills before they get the new crop. Private
cables received yesterday said Ellison now makes
the English mill stocks 1875 600 bales against llJ.O00
last year, and Continental stocks $4,000, against
1900 last year. total decrease in mill stock
abroad Of 10000 bales. compared with last year.
The known stocks estimated at l,l00,GO bales
less. 1t Is highly probable, therefore. that this
IRENE loss in their home supplies is the urgent
reason for this recent Increased export movement
OF cotton from this country The question arises,
50 the bulls who maintain their faith in cotton con-
tend. how much longer will the American spinner
sit quietly 10y and the balance Of this short crop
hauled away to Europe leaving him with posi-
h" protection should the coming crop be shorter
than the expectations OF the bears? he Southern
spot markets showed disposition yesterday to let
thrr cotton 20 any cheaper because the spectators
managed TO hammer "a couple OF more points off the
contract quotations during the day. The spot mar
kets are doing fairly good business, too. New
Orleans sold 1900 bales yesterday. Memphis l15O,
St Louis 1881. savannah 81. Galveston 1527. Mobile
S0. Augusta i63 Norfolk 200 and Houston 55s.
Stocks at the th.rty-onc counted towns showed
falling of Of ZOO bales for the week.
Secretary Testers New Orleans Cotton Exchange
crop statement from September to February II in
elusive: Port receipts 420lsi against 6,59242l last
time I'm 1888 overland TO mills and canada G2l 2el
against sjj2N ast year GGs3,3 year before last and
oil S3l for same time I'm 1873: interior stocks in cx-
Of September l. i0A. against 80, ,53 last year.
.9o.O year before last and 1880 FOR same time I'm
1913. Southern mill takings. net. 521,359. against
i no last year +S ool year before last and i2 s for
same time in 1893. brought into sight during Ave
months and fourteen days To date. S9,s. against
go FOR same time I'm 1895 brought into sight for
eek. l2s5i5 against 1921 for tho seven days ended
1923 FOR same time in 1888 brought into sight first
fourteen DAYS of February. o. 49, against Pos S3S
last year. 1888 year before las, and 2l>l3 for same
time in 1873
New Orleans Feb 1.-THE Chronicle" three
years ago had plenty Of gigantic acreage talk par
ucuarlv from Texas. yet the crop yielded $4,000
bales The official sale OF fertilizer tags in Alabama
to April l. four years ago. was f.l". against pro
cooling year. Als". III" increased sale Of fertilizers
was 20 per cent. vet the crop was e2n"D short. Re-
,.lpts tomorrow largely from Memphis.
Montgomery "ires. Rails shipments four weeks.
fnu Their COMPRESS stock reduced to too Under
stand Il was a good deal heavier much later in the
.rAson IN tn" last two years
Rcd River boat due only 30: onc-half from
second trip ~ season. with i1 bales last week no
showing cotton was hauled to railroad stations.