New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-03-03
COTTON TAKES A TUMBLE.
FEARS OF CUBAN COMPLICATIONS BREAK
THE MARKETS ABROAD AND AT HOME

FEARS OF CUBAN COMPLICATIONS BREAK
THE MARKETS ABROAD AND AT HOME
AS result of the Cuban resolutions In Congress
the price Of cotton since last Wednesday has de-
cned "a points. or 81 20 a bale. How much furthe'
1t is to go will probably depend on how long con-
gress stays in session. In the face OF the general
uneasness over what these lawmakers In WASH
ington intend to do. all forecasts or expectations
subject to frequent changes. Demand ana sup
ply cut figure any longer Bears revel In the
specials from the National capital and beat down
prices with incredible ease. But 1t Is hoped that
some day Congress will adjourn and quietness ana
common sense and fair values will once more nave
a chance 10 exist
Cotton broke yesterday equal to 10 American
points In Liverpool for futures and l-32d for spots
with sales OF 10000 bales. This market responded
fully to the slump abroad. opening TO points
down. and nightfall cotton selling 10 to 10 points
lower than on Saturday There was slight dis-
position to improve at one time in the day. but the
news from Washington in the last hour killed II
all and the final prices were about the lowest.
March cotton dropped to 1871: May to IA, and Au-
gust 10 7.4S
The receipts at the ports were not heavy, BS2h
against 81 Isl bales last year NewOrleans expects TO-
morrow 800 bales. against l5CO last year. IN
terror towns receipts not Uniform. The
Memphis and Augusta receipts were neaVyi Dut
ton got yesterday 1884 bales against 3d. last year
and expects to-day l.6O to 1880 against sooo last
More significant than the receipts was the fact
that the free export movement Is kept up showing
that the foreign ml-owner is alive 10 the cond-
tons that confront him. Exports yesterday were
% 355 bales. There be no doubt tina, this COZ
ton is being shipped because the foreign mill
owner realizes that will be thirty weeks yet be-
fore ne can get any OF the new crop AS the Euro
pean mills up $4,000 bales or cotton Week IL
will require 100000 bales to carry them through.
This Is 10000 bales more than the entire visible
supply in the world and all the mill stocks heiu III
Europe to-day, according to Mr.. Ellisons calcuia-
tons IT, as is believed here, the American InL rs
consume the 200 bales yet to come In sgnt o!
this crop. the only cotton TO be carried over next
India, Egypt and Brazil. from now until OCTOBER
l. less 10000 bales mentioned above required TO meet
the deficiency In Europe Last year Europe anu
America carried over 100000 bales. What India.
Brazil and Egypt Will furnish from now on, less
100 900 bales, will be bagatele In comparison
No such situation has existed IN cotton IN many
years. and that II is exerting It's full ana egt
mate and beneficial effect is due TO the EFFORTS OF
bands of wreckers here and In Liverpool. ABLY Sec
onded by the Congress OF the United states.
There considerable evidences or mills IN New
England going short time yesterday but X was
the result OF freshets not from poor trade " men
the waters subside they will all probably be found
running. usual. 40. , .
shakedown In futures, declined yesterday. but the
sales continued normal.
The slump yesterday was accelerated. II was be-
lieved. by the selling In Liverpool OF a large
amount OF cotton. held for long time by the Dull
clique In New Orleans. Many others. longs.
were caught the down grade, and were forced 10
liqulnfc.