The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-06-26

points, August being the frmesr month.
Later on there was a sl1gl- reaction. which
lett the net advance for the day 6 points.
with the tone very steady anu the sales
$500 bales
% To-days features. Too light rain In
Texas and too large a short interest in
New YORK, the south. Chicago and else
where, explains the rise mere to-day n
tae face OF a decline in Liverpool. There
was more or less local liquidation iu the
early business. owing 70 q decline IN
Liverpool. and the fact THAT shme rain
mad fallen in Texas. But lt was the old
a rally. because the shorts have too much
company. Another thing. the wisedcres
who keep the books for the bulls found
tn1t there was something wrong with the
bookkeeping to-day. for instance. a little
too much subtraction. they suDtracLed
one house TOO many. from the bull side,
averins that enc OF the German houses
mad sold out, which had not sold cut,
though IL is true that part of the German
long interest has latrerly been reduced.
There was some buying By German in-
terests to-day, however, and another
prominent element in the trade was also
buying the next crop"
New York, June 2o.-Huhbard Bros. *
Co, in their weekly cotton letter, say
the temper OF the trade remains as
pesslmlsuc as at any time tnis season,
although the dry weather in Texas has
continued during the week, with the eN-
cepUon Of the showers reported by the
14ENdA service AT GuGkOs LDl% view ana
Huntsville of forty, thirty-fve, thirty
one-hundredths of an inch respectively.
II is now conceded that The dry weather
in that state has ruined the corn crop,
butt as yet the Texas people DO not be
IeVe that the cotton plant has SUFFERED
serious injury. Whether ii Will be able
TO Withstand q continuance Of The drought
or whether IL viii soon receive the re-
CURED moisture is now matter for Sc
rl0us consideration. Rather too much
rain has fallen over the other sections
of the cotton belt though without any
apparent injury TO the plant, If the rains
cease falling before July 1.
In the present condition of the mar
ket no attention is paid to any reports
Which tend 10 show falling of in the
Drllldnt prospects reported on June ],
and it is more difficult to find any one
VINO entertalns a favorable opinion of the
future course of prices than il was last
october 70 md merchants who were will
ing TO anticipate a reaction from the
nigh prices then ruling. OF course this
situation by no means forecasts the mar
ket, but il is a singular coincidence, well
worthy of attention.
IN Europe the demand for cotton goods
for home and foreign consumption contin-
ueS, with Spinners and manufacturers
well under contract at remunerative rates
and with better prospects than for the
past five years. At home there is a slight
Improvement in the demand for cotton
goods, a feature which has long been
lacking in the goods market With re-
duced supplies the demand 10Y the raw
material promises TO be heavy during
the early months of the season, and
should the weather conditions change the
current opinion from a mammoth crop to
an average yield, the market would prob
ably advance above the quotations of
last season. There is as yet, however, no
indication that the world considers the
crop as at all injured. or is willing to
admit the possibility of any change for
the worse, and the trade as a whole is
short in anticipation of lower prices. I'M
der the pressure of a large crop and the
natural absence Of speculation under such
a belief"