New-York tribune., 1896-02-05
COTTON BEARS RCN TO COVER.
COURAGE or THEIR CONVICTIONS EVIDENTLY
LACk,NG-NT.w CROP MONTHS AD-
VANCE EIGHT POINTS

The British retreat N Corunna Is celebrated in
song ard story Neither song story will ever
tell OF the retreat OF the cotton bears from their
position the crop months yesterday save
as II IS found In the unsympathetic record OF the
market quotations. For some time the bears havc
been selling the fall months the strength of their
own stories that huge crop will certainly be raised
next year Their sales pressed the fall months far
below their normal difference over the near de-
llveres Yesterday they had qualms about this big
crop apparently for they deemed II wise 70 get out
OF this overso2 condition. and they beam TO buy
back their cotton. The result rise OF to 10
points IN the early crop months and 3 to points
I'm the near positions. october cotton, which
closed on Monday at $50. opened yesterday at $50
and closed at sG7 March sold between 7si and
79S closing at the top. May closed at sos
outside OF tn, retreat OF the bears In the fall
months the market did not contain any striking
features Port receipts-2So)O. against $500 last
year-were heavy. but the impression is that these
increased receipts will be found at the close OF the
week to have come from counted stocks In the In
terror. The spot markets were steady. and did a
fairly good business New-Orleins sold $3.50 bales;
Memphis 2lso; Savannah. s56: Augusta. GA; St.
Louis. 800: Norfolk. 1885, Mobile. 800. and Galveston.
299 In the local market spinners took III bales.
and 700 bales were delivered contract
Interior towns reporting were not particularly
srn,fcart either way. Augusta got 2t9 bales.
against AIS last year; Memphis 35s against 67s: ST.
Louis 255 against i65; Cincinnati. 1872 against lSSS.
and Houston 5.5s5 against S.Os4. Houston expects
to-day 1909 against l.72i last year. Exports were
1900 bales.
I!verpoors spot sales fell to 5000 bales Futures
In that market were Ltd lower for the near
months and l-s+l. higher for the fall months. Ap-
parently the foreign markets waiting like the
American markets for something to stimulate them
into activity.
This is the season OF the year when the big
traders make UP their minds which way to head
for the long haul" 1t is a fact. not without Sig
nihcance. that the sentiment OF the New-Oreans
speculation Is 10 take the bull side for an
other summer campaign New-Orleans Is generally
found on the right side OF the market Last sum-
the big bull campaign was led by Peter La
Dousse. OF ew-Orleans. who is still a bul ana
seems 10 be getting ready to head the bull forces
for another Of their never-ending conflicts with
the bears. The following dispatches received yes
terday Indicate the present feeling In New-Orleans:
Newt Orleans Feb. mobile wires receipts to-
day take In the bulk OF the uncounted towns one
boat brought 300 bales and only thirty-two remain
Monroe La wires that the actual STOCKS tnefs
sold and unsod are 1850 bales. leading New
York bear house In recent circular reported II
around 22 900. ,, -, ,...
As New-York continues talking OF an Immense
croD next year before II Is planted, VIII bet
st. to si 900 that II will be under S.1500O baes
S nlo even that II s under 100000: c00 that II Is
under 2O OOO 50 900 that II 10 under 9s00000; 1900
that Il 10 under 9750.0O0