New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-01-17
COTTON SWINGS BACH.
SELLERS RUN TO COVER QUICKLY.

NETLLs FIGURES NOT DENIED. But BEARS MAKE
a DIFFERENT cALcULATIoN-THE LIGHT
MOVEMENT CONTINUES
Cotton. having dropped down far enough under
selling by the bears swung back again when THESE
nimble-footed though ungraceful creatures began
to buy back what they had sold II went back
great deal quicker than II went down. and that Is
about the only feature that had any significance In
the market. AS yet 1t IS traders market. Among
the heavy sellers of Wednesday was the Arm of Nc
Intyre. Wardwell & Co This house does a large
prvate-wlre business with Chicago. Yesterday they
began to buy back the cotton they had sold. The
result was a sharp advance in the afternoon from
80 for March. the lowest reached this reaction.
to 80 The close was at the top. to points ad-
this months crop, and to points on the
fal delivery. over the final figures OF Wednesday.
The letter Of Mr. Neill printed in yesterdays Trib-
une. studied carefully by all the brokers. and
while the bears in chorus said. "Neilrs all wrong.
they did not attempt TO impeach any Of the figures
he gave his quotations from Mr.. Ellison So II
will have be left to time and the movement OF the
crop to determine between the bears and Mr.. NELL
If the movement day by day is a guide to the final
outcome. there was nothing in yesterdays showing
to shake the belief I'm Ncls predicted $500 .0Oo-bale
crop. In fact. the figures continue to run on n
scale Of one-half of last year. Port receipts yes
erday q SOC bales against 80 600 bales last year
Total port receipts thus far this week have been
$3.50 bales. against 1924 bales last week The por.
receipts for the entire week last year were 2lOW~
bales. New-Orlcans expects to-day 400 TO 5.1"
bales. against $3.50 bales last year. Interior towns
show the same proportionate decline Augusta got
yesterday POI bales. against ISIS bales last year;
Memphis 800 bales. against 0G9 bales. St Louis. @9
bales. against 800 bales. Cincinnati. l.ss bales
against Lose bales. and Houston. 23l bales against
,,5SN bales. Houston expects to-day 1000 TO 21D
bales. against 1850 bales last The bears are
,l,f- nf
bales.
dispatch from Opelika Ala. said that seventeen
towns in that section showed total stocks Of lo1o
bales. against 1900 bales In 1898. 1000 bales In 1871
10000 bales in 1893 and 2oooo bales in 1892 Prepare
lions for planting said to be slow. and the
amount OF cotton remaining on plantations was est-
mated at to per cent.
Bombay receipts for the week were estimated at
$1,000 bales. against 5000 last year The amount
anoat is l5.coo: against none last year. and the
shipments to Great Britain were 900 bales ana TO
the Continent 3G.en against none last year
Liverpool SOLD 1000 bales spots at l,32d define
terday and futures there were 2-sid lower al 'i''
close
Exports yesterday were 900 bales. Southern spot
business was only moderate as IL always the case
when the price is low the holder refusing to part
with his product on the New-york and Liverpool
weston 49, Mobile 500 81 Louis 80. Savannah 5lG.
Augusta s12 ana Memphis 40 Mobile Savanmah
and August were l-li lower. hTe local marHet Vas
unchanged with sales OF So bales for export ana ~
The bears got on, their pencils again YESTERDAY.
and. Will" not controverting Mr.. Nell figures
reached an entirely different conclusion by another
calculation. in brief follows: The surplus on
September was 3Oo0.Go bales. The crop 10 h"
raised this year will he er0p bales. or total sup
ply Of ~ 0plo ,0 bales The consumption Of American
VIII Doe N00Up bales leaving surplus on September
! next of l.snLVr. ompl" Tor All purposes
Further notice viii be- taken Of this argument at
some future date.
Dispatches from tho South say that movement
is on foot in that section TO build cotton mills 70
employ negro labor. y negro cotton mill Is To- h"
built IN Raleigh. y. g tn" result VIII b" awaited
with much interest. not only by the min owners Of
the South. hut hy the Northern mlllmcn as well.
for n n is successfully demonstrated that negro
labor can be proffahlv employed In southern cotton
mills IL VIII probably enable the mills employing
them To produce cotton goods az cost even less
than now.
Southern planters are earnestly advised 20 raise
moro mules and fewer bales 81 cotton. The bears
on the New York Cotton Exchange Will. OF course.
Ice glad 10 buy all the mules the South can raise
As 10 the cotton well. that's doubtful