The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-08-15

New Orleans, Influenced by disappointing
Liverpool advices, with cables reporting
| spots and futures there and further benefi-
| cial showers at various points in Texas
| The trading was only moderately active.
with the market neglected generally BY tie
| rank and file of local operators and ou;s.d-
ers, whose attention continues absorbed by
| the stock and grain markets on account OF
! the more favorable) opportunities they Of
! fer for speculative and investment opera
| tions.
| The room traders being left IN control.
| prices huc;uated within a narrow range
| and in accordance with the humor with the
majority OF them. Reports from the dry
| goods districts Of further advances in vari-
| Gus lines Of manufactured cotton goods
ard further advance of 1-I6c per yard IN
priAt cloths at Fall River, TO 1i-isc. which
| is the highest price reached since last fail.
ard the prospects of a good trade in all
lines this fan. together with the renewed
sharp advance in wheat and confidently
! bullish sentiment prevailing in Wall street.
failed to have any influence whatever with
the traders. nearly all OF whom continued
bear:sh on the staple Their chief argument,
IS that the crop will be a big one. and thai;
II must be sold. They 90 not believe that
the crop in Texas has ben damaged, and
they pay no attention whatever 20 any ua-
favorable crop reports that are received
from that state. They only see the pros
pect OF a large crop oversaadowtng the
market and every tine a little shower oc-
ours in Texas. they increase their interests
by putting out fresh lines OF shorts.
The market opened this morning eu.e;
ard easy in tone. at poin; decline on -Au-
gust and TO points for the rest OF the
i.s, September selling a. Sis, October &c.
November $3.50. December SS.9i. and Jann-
airy 800 From these prices there vas
further decline. after the call. OF 20
points In the succeeding business the
market rallied and recovered all but point
of the early loss. on some moderate ouylns
BY commission houses and sca.peTs 20 Sc
cure profits on previus sales. AT II CLOCK
the market was quiet and easy. al 10 :
points net decline from last nights prices
The total sales I'D 10 noon were d.l00 bales.
The weather bureau reported showers az
various points in Louisiana, MISSISSIPPI.
and Georgia. and rain at twelve different
points in Texas The rainfall in Texas IN
cluded 80 inch al Brennan. 10 al Beevilie.
o. at Dallas. "A al Houston, 81 al Hunts
Vile. les at Kerrville, "a at Luiing. OF at
Orange. Ca al Lampassas. 81 at Long view
IS at San Marcos and 10 at Tyler.
At Liverpool spot cotton was easy. and
1-l6d lower. at 7-32d for middling. The
sales were on reduced scale, aggreSat!ng
but 5000 bales. Futures there opened l'zc
TO 2-6id lower. and declined Lad additional,
finally closing quiet and steady al HID TO
2-e4d net decline from yesterdays closing
quotations.
The cotton market was steadier in the
afternoon, on subsistence of the selling pres
sure the development of a better demand
for spot cottu and SINE commission buying
The MARTY of the rom traders had over
sold themselves in the morning break. and
their covering also helped the market. Sew
erel commission houses reported that the
low prices had apparently begun 10 at
tract some new outside buying, as they
had received some orders to buy for Gus
toners who had not traded In the staple for
some time. They said that this buying
was not sufficient 10 be noticeable or have
any effect upon the market. but it was,
nevertheless. an indication of soma nib
bling by outsiders based entirely upon
the low prices in comparison with other
markets.
Spot cotton here ruled quiet but steadisr.
at Sc for m.ddling. The total sales were 5i
bales. Including 374 for export and 5T taken
by spinners for home consumption.
steamer IS loading in this port chartered TO
take 1000 bales of cotton 20 Barcelona.
Spain The cotton Is Of the finer quality.
and is for direct shipment TO Spanish spin
ners The vessel is expected 10 clear In
few daya This shipment will reduce the
stocks here TO about 10000 bales. which Is
the smallest held here at this time since 1890.
Included in these stocks are considerable
Egyptian cotton and also lot Of fluffy.
short staple sandy cotton, for which latter
there is no market.
The market closed steady.