New-York tribune., 1896-01-18
THE SOUTHERN MULE CROP.
GROWING LARGER IN THE FANCY OF
THE COTTON BEARS
EXPORTS THREE TINES AS HEAVY AS PORT RE-
cEIPTs-sToCKs 10 NOT INCREASE IN
1rvrRPoo1.-TuE CROP MOVEMENT

LINERPOOI~-1liE CROP
PARALLELS THAT OF 1893
Every bear in the Cotton Exchange sayly mounted
on the back of Southern mule yesterday and
with feather IN his hat pranced ana curvetted
about the floor of the Exchange. while the bulls
ran nellov.inr down the street. The bears in the
Exchange made most gallant and stately appear
ance in the saddles of their gorgeousiy caparisoned
mules. While the Southern mule crop is Kept up
70 its present prodlgous figures the bears feel GER
tain that the quotations Of cotton futures must so
s,eadilv downward The bears declare with grea;
erphasis that enormous quantities OF cotton are
concealed in the hidden recesses of every southern
State The men who are trying to force cotton down
70 lower figures vociferousiy that every cav
ern every chasm ard every hole in the ground IN
every part OF the Southern States Is new stuffed fuii
of concealed cotton In fact the bears seem 10 ;hink
thar the cotton crop OF 1895 must be much nearer
100000 OF bales than G.J0e0. and that all the
planters In the southern States have entered into
colossal conspiracy 20 mislead. deceive and deiude
the whole world as to the actual production OF
cotton in the South in 1896. However that may
be- it is clear enough If the assertions OF the bears
are to be believed that the mule crop in the Sou'h
is vastly larger that the cotton crop The NUMBER
OF mules annually produced in the Southern states
must run up into the tens Of millions II the State
ments Of the bears are 10 be credited
Somewhat similar feelings possessed them IN Jahu-
arv 1890 But that year the bears We're awakened
from their happy and exalted frame of mind py lIie
discovery that the price was rising. anG the "or'uS
spnners were short Of cotton and had 10 Duy II d.
any price. They could not be brought 10 !eai'~'
the existing facts for a long time then. and Kept
selling on all the bulges But the price kept soaring
upward from 10 cents and fraction in January uii-
I'll Just before Decoration Day IL culmina'eI V.ose "
q cents pound. and the bears went broke Inc
bears are as cocksure as then that weather
conditions will be perfec; until next Christmas that
IRA GO is dead and Europe in danger OF running
out o. cotton The cotton bear in his dreams sees
shaved-taie1 Southern mules in such vast NUMBERS
greater than Nerxes's hosts or the sands OF AraDy
the Blest-that with this placid faith in futuT!ty
he was not disturbed yesterday by the fact that
there was shipped out Of American ports bound for
Europe 552l4 bales OF cotton, or more than three
times the amount that was received at the ports
Because receipts at shrty-one Interior towns-fVVo
were as large the week before. the bears said
II was sure sign of big crop. though the re-
ceips for the corresponding week last year at these
towns were IS O0O bales. or nearly twice as heavy
The stocks at these interior towns only decreased
about 10000 bales when the bears said 1t ehouid
have decreased 5000 bales. The fact that this IS
the height Of the shipping and that Liverpool
stocks OF American cotton only increased 5'oo bales
for the week and IS 10000 under last year was
overlooked. The fact that the amount OF cotton In
Liverpool Of all kinds is 10000 bales below last
years stock also escaped comment. did the fact
that there Is now in Liverpool and ahoat therefor
10000 bales less OF American cotton than az this
time last year.
Mr.. Hester rs VIII be seen by his figures below.
gives the amount of cotton coming in sight this
week al 1882 which IS 5000 bales less than last
week but Is only 1000 bales larger than IN 1893 The
chances stn good that there will be in sight
February OF this crop l,,e more than 10000
bales. against 547000 bales IN 1851 when the total
Yield only o.5l500 bales
on the Cotton Exchange Yesterday the fluctuations
were narrow ana not significant The tendency
was naturally downward owing 10 the extreme dull
7s2 sold up to 7s6 and down TO 80 where it closed.
I-nba mos sip-f Of no Fq-'c
news was the heavy exports Exporters bought $40
bales in this market. and spnners laS New-Or-
folk, 7ci; Augusta 6si; Savannah. Isl, and Mobile,
80. Savannah advanced 1-l6 and Charleston de-
Ter the week was sweiled $500 bales by cearances
OF steamers at Port Royal and Brunswick THIS
10 GOO against ll.4S5 last year.
cotton-growers are TO be held there 10 further the
A dispatch from Monroe La in the heart Of the
richest cotton district Of the South, SAYS that that
in the city. had failed The failure Of country
The unusually short crop given as the cause
''The Manufacturers Record. says that many
large Southern cotton mills will all declare div-
Gends OF from 3l2 10 per cent Tor the past SIX
Secretary Hester's New-Oreans Cotton Exchange
cotton crop statement from September ! 10 January
IT, inclusive Port receipts. 37S'65 against 5s.lt&
last year, 4,6 81 year before last ana sis Vl ior
same time in 1898 overland 10 mills and Canada.
676635 against 74i4O last year 6l492l year before
in excess Of September 4eO2s against 1864 last
year 32 rs year before last ana ~ 10 l9G o sane tIe
z2 35 last year 376sj year before last and OBS Tor
SANE time m iss gshs1 GToqg4 S 4s4 last aur yaa % s
year before last and 5l3i559 for same time IN 1871
for the days ended January i last year S'osS
for year before last and 5000 FOR same umG n IN
uary 3724H, against J3z l69 last year. 4A13 ior
year before last ana 3iiloi for same time IN l'S8