New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-05-12
COTTON HAS A SMART RISE.

A B1,rIrsH BUREAU REPORT on ACREAGE SENDS
TIE QUOTATIONS. Up FOURTEEN POINTS.
The expected Bureau report had decided eject
on the cotton market yesterday. after II had been
poneered over for a while BY the spectators Be-
fore its appearance prices went OF 70 points
below Saturday. mainly the result OF nervousness
over the coming report. August got down 10 80.
But active buying BY the big bulls at the decline.
and the Bureaus figures. showing an Increase Of
acreage this year Of AS per cent. stimulated
lively advance in the final hour. WITH quotations
climbing I'D rapdly August went up fourteen
points from the bottom and closed al Sld' wiHch
was the top The general talk all spring mas been
OF increased acreage as high . and 30 per cent.
This has been drummed into European ears. ana
as n consequence Il IL estimated that Europe -
short on the fall months many millions OF bales
The general list closed yesterday at net gains Oh
10 for the day. The Bureaus Statement 'hat
over wide area OF the cotton belt serious drouth
prevails. and that complaints OF weevil come from
parts O. Texas quickened the sharp rise
Il was announced that 573l bales had been bought
on Saturday tor export. and this helped the price
The general feeling al the close vas summed UP
bv Price Mccormick & Co. as follows.
s As indS ca Amer rS cotton 70 meet the
sum2tive demand for the present seaso'i, ~
$3.50 IN biliisb rght The increase OF Us Jer
cent as per the figures given. would indcate ma
the crop next season VIII DE- Aiue over $500,
bales and the present consumption o. ~, an
cotton is estimated at from s.p"V' 70 4N"".''
baies Indications az the present time also point
- > shortage next season The advance 10 values
since the publication Of the Bureau report - ther-
core amply justified. and unless weather condl-
lions from this time forward are OF ne most IA
vorable character. higher prices seem inevitable
The following private advices related 10 prevail
ing weather conditions IN the cotton belt;
New-Orleans May u-Average Texas ralhldli'
orlv one-half from 18th ult 20 SIN ms ii' NslN'
Yesterday according 10 The Government. IN SOM
actions there we're fair showers, IN mos, II
was dry A Vicksburg special SAYS that n th1,
section OF the Louisiana and Mississippi, on ans
and lovlands the drouth has done serious mJury
and late cotton Is not terminating IN issaql -
County alone 600 acres have not gerninatei- j NJ
Memphis Appeal OF Saturday SAYS the potato
cron unless IL rains Immediately. viii De t''tI
failure on account OF heat and worms no" 'A''
voung cotton really be hourishing there a.,
Nemnhis MAY il.-There were safes IN Meihp'"9
last week OF 900 bales all % Eastern spinmers.
%eV-Orleans May u.-Major NJ. a traveller ioi
q large cotton house and a large planter IN we
Waco Delta has lust returned from tlr Ni'iii d
section He saws that last weeks reported
Hne rains really were rather injurious thah DTle
Hciai. they merely caused the seed 20 De sNo4ifH'
buf did rot rnOsten the earth two lnches ~ ~
fc-ma.or is that every merchant IN the INTERIOR -
short on the fall months. and THINKS thtre.y' -
reDorts from such sources should De 'aAe'' WIN
allowances