New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-03-19
NETWORK DAILY TRIBUNE MARCH 49, IoO- no" $50
COTTON CONTINUES TO RISE.
THE AUGUST OPTION LEADER OF THE
LIST.
. p,sr OF FIFTEEN POINTS YEsTERDAY-THE
MARKET STILL IN THE GRIP or
John H. INMAN.


JOHN H. INMAN
rh. hoo,, in cotton continued yesterday. on.y tho
chief interest seemed TO have been transferred from
the month of May August. This being 'ne mo,i.''
in which stocks Of cotton will naturally reach the
lowest ebb in the season. the chances OF cor"e,
in August would seem much more favoraoe '"a'' ~
May The August option sailed up 10 points wv
Tuesdays close yesterday. and al the nh's" a
strong and nearly at the top 1872 the leader OF inc
list Nav Closed at 10. gain Of 10 points Inc
big interests back of the bul. movement were "p
narently no less confident than the previous Jay
and bought cotton and showed up the prices 's''
along The quotations fuctuated Sharply u"'"s
rbs dav small recessons for proft-taking being TO-
lowed by rapid and strong advarces. wan ."e.'
SPECTATORS who generally can ony De 'e''p'e' nv
cotton when the market is rising were heavy ou!
ers and the public began 10 show an interest III
tho most attractive spccu.a ton downtown Liver
poo AT the close was steady and up equal 10 ID
American points Many Of the suky OLD pears nave
refused to be driven in yet. though tney recok"~e
the danger ahead of them Many, however. tooN nv
chances but covered. Referring to the activity ana
sharp advance In cotton, John II. lnnan said:
"On October 49, lust five months ago. March cotton
so.d IN this market at $50. From that time there
has been practically continuous decnhe. u"'',
March g. when contracts sod at '.zo' "ee''''e -
~ cents My estimate OF the crop Is tne sam. w.
dsy as II was FIVE months ago. wneh cot'o" so'' "
q that Is 600 900 Dd eS. LIE dpoNc NeN' Wv
our market much below a European parity ana eu
to large purchases OF cont aS's III NC"
sales to Europe. ,, =,
"Nv exper,ence Is that after a steady decline OF
so long time upward movement Is mevi'ao'e,
a movement which Will most "keiy recover "A., -
the 2 cents decline and therefore carry us pacn ~
az IN az cents before the cotton season Is over
with the rapidly dec lining stocks ana 'he ia.'
that Il Ia five and one-ha.f months before ne" COZ
ton II occurs to me that the persistent sellers sno'
OF August may get into n very uncomior'apie Po
ton before the season Is over rn.ess pl''e' az
vance materially. l don't see how newborn can
avoid having very small stock by August l. say
not $1,000 bales
Trade in America is very bad: perhaps worse
than at anv time for thirty years. but against TINS
trade is good in Europe and Liverpool and inc oo'.
nent will take large amount OF COTTON a. VIC
cheapest price they get it, but WILL IN my JUG
ment pay 50 to sla cents II necessary.
almost every crossroad fellow in the sou'n Is
short of the new crop. and therefore. to my MIND
she extensive preparations and increased acreage
and prospects of the new crop are greatly ~
ated. At any rate 1t Is the season t''I' '"" VIZ
With the resources material and mental. possessed
o i,on in cnttnn especially the August option which
viii make the course Of speculation along lhls a'.e
extremely interesting record In the immeu.a,e
fIti,re All who relish reading about great specuu-
lative battles will hope the bear operators OF tne
Cotton Exchange will continue to sell August cotton
bevond the power OF man TO compute TINS colnm N
would record the result Statistics were Sho,eu ~
the presence OF the other big factors at hand ou.
What came to the surface not such as the pca
"nsrators could extract much comfort from. The
local spot market sc higher and Of the soutnerh
markets. Galveston. Savannah. New-Oreans. nor
folk md baltimore likewise mp isc. WIN
good business doing Augusta was S-le Gents n,snef
and Memphis and Mobile l-l6c up. New-Orieans
sold 1000 bales Memphis LOO bales: savannah 80
bales Galveston 2l26 bales, Augusta - bales ana 81
The mort receipts s742 bales against l72 bales last
year. a., -. .o,, r.,or,ed hv
Interior receipts for the half week reported oy
Secretary Hester of the New-Orleans Cotton En-
change were 1860 bales against 1929 bales las IS
year Augusta got s. bales Yesterday, asal am To-,
cnnati IFS bales against 347 bales and Houston lzz
bales against 2.2l6 bales. ,oo ., =. ,,cA
advance. - ,,.-.,.s;no, ,.s,.r
day afternoon.