New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-08-09
COTTON MARKET STEADIER.
THE REACTION SEEMS TO BE OVER.
INTERESTING FEATURES OF THE SPECULATION

INTERESTING FEATURES OF THE SPECULATION
THE DRoUTH AND THE SUPPLY
The cotton market steadied itself yesterday and
prices closed at noon on the New-York Cotton Ex-
bnnqe II ponts better than Fridays finals for
August and 7 10 10 points net gain for the other
months It again a day of heavy business I'o-
ZOO bales being sold but the extreme generalization
which was the feature Of Fridays close was gone
to-day LIVERPOOL buoyed up by THE Chronicle s.
cron review came unexpectedly better. with an adj
vance of -ls in spots 5l6d. and futures showing
q no, decna of only 3-6i to 4-64d The bulls started
prices to IS points up but reports OF rains at Bee
VILE Tex 30 Of an inch, and scattered showers III
Louisiana Georgia and Alabama led TO decllhe
until quotations we're TO points under last night
The rains proving only inadequate showers now
ever and the drouth and extreme heat still holding
nossession OF the greater part of the cotton belt
hus took courage and prices went up again 10 to IL
noints on sharp rally. August closed at 's alter
ceiling between 7ss and ISL; October closed at 752
after ranging between I3s and Hos January CLOSED
at 7a after selling between 1853 and ~
..The Financial Chronicle" says its "advces from
,b. south by telegraph up to Friday night indicate
that tho temperature has been very high IN the cot
ION belt during the week and that where RAIN mas
fallen the precipitation rule has been very light
and I'm a large portion OF the Southwest there mas
been no rain. 1t is claimed that the crop has been
damaged by drouth and hot winds In sections or
Texas Arkansas ana 1eiieSsee' i'|"'''e 10 '''''s
good progress 1880
..The Chronicle" shows that the worlds visible
sunply OF cotton of all kinds decreased 5000 bales
during the week and is now l,i72Oc0 or l24wO bales
less than last year. 10000 under the year before ana
eo 90 less than three years ago. The visible supply
Of American lost 5000 during the week. and is now
down TO lI46On or 1.225G0 less than last year at
this time The available supply in America is down
TO 225OcO bales a loss Of ls,cD during the week ahc
l52 COO less than last year. OF this supply --Vn
bales is on shipboard awaiting clearance Tor foreign
countries The weeks exports were 1900. against
% 90 last year and there came into sight this week
lsNS. against 900 last year. The total in sight on
this crop is now 6376,0d0 bales.
Notwithstanding the general movement to curtal
production now going on among Northern mills. the
Northern sphners evidently have an eye on the
future Their takngs for the week just passed
were 1888 bales against 2S2S in the corresponding
week last year. while Southern spinners took l2.Go
bales. against 1900 last year
wall Street publication says OF the present
speculation in cotton;
opinion in respect to the cotton situation appears
to nave undergone ,b ron nave
heen so general that even those VINO first attributed
he rise i'm price TO manipulation now concede the
IRON nrosnects are serious. leading operator said
to-day that it is useless to shut our eyes 10 INC
Weeks ago 10000 was confidently looked for. ow
inc TO the Increased acreage and magnlcent condi-
ton Since that time me situation has changed for
ina worst on the Atlantic coast there was ior
some weeks superaDunddncc or ram "hhh
soriousIy injured the crop Further South, espe-
c,ailv i'm Arkansas. Louisiana and Mississippi. mere
t"s ihecr an absence OF RAIN which has continued
beyond precedent - .... ,.o., 90
many reliable people that the alarming situation
an 1o longer be ignored. All talk of manipulation
a. n,,re nonsense Undoubtedly the South has been
largely short at New-Orleans for september ana
1cober delivery Besides there is every reason for
belicying that 5rltish splnners have been buying IN
his market for delivery OF The same months not
,ess than 90 600 bales sellers OF this cotton were
,cnnted 10 sell OH account OF the bright prospects
some lime ago. ana fear that these deliveries may
~, 30 mao good when due has largely brought
about the present advance. large crop move
ment next month. when new cotton Is started 10
,a may have the effect OF adversely influencing
nrices temporarily, although The preliminary move
iment will have no bearing whatever on the extent
OF the new crop as whole