The Providence news. (Providence [R.I.]) 1891-1906, 1897-01-14
THE COTTON AND GRAIS MARKET.

THE COTTON AND GRAIs MARKET.
ISverpool showed good demand for mid
ding at the opening. Futures opened quiet
with moderate demand. Prices on this side
were very irregular and traders were uncer-
tain as to the course OF the market
In New York cotton futures opened easy.
Sales, g70O bales. January, $50 bid; February
600; March, 7.05; April, I'll: May, III; june
1871; July, 7.24; August, 726; September
679. bid; October $50, bid; November, o.B.
Price, Mccormick q Co., in their cotton al
vices TO Allen e. Lynch, say; Liverpool adj
vices this morning were slightly disappoint-
ing. Futures opened practically unchanged,
but later eased off from l8-64 to i-64 The
sales OF spot cotton aggregated 1900 bales
Today's port receipts are estimated at about
q. 900 bales, against 1,672 last week AMI 20
s96 last year. This estimate includes clear
ances of 5000 bales from Pensacola. The arri-
walls at Galveston today are smaller than last
week and last year the figures being 21O3 bales
against 2772 last week and 373 last year. We
have Just received a telegram from New Or
leans stating that Hector Lane, president OF
the Cotton Growers Association, estimates
the crop at $4,000. This estimate will be
formally published tomorrow. While the trade
generally is disposed to look with incredulity
upon estimates much under 8, 500, 600 bales, they
may be forced, later on, to reduce the figures
| of the crop to which they now adhere. The re-
ceipts at Houston today were 1859 bales, the
shipments e42s at Augusta, Ga, the receipts
were SO and the shipments 240.
The wheat market was more inactive today
The Beerbohm cables state that in London
| the opening on wheat was steady but quiet
| Corn was also quiet and steady. Liverpool
| opened lower for wheat and corn. The de-
mand was only moderate and the tendencies
were easier. English country markets were
quiet.
| Rycroft today says that wheat requires
| some fresh bull news or more encouragement
| from Europe in the way Of buying TO save II
| from going lower, and Farnum says thai
| even in San Francisco, a market that was re
| ported to be about to import wheat, the price
declined cents bushel yesterday. In Chi
cago the reports of hig shipments to the Eas
have been found TO be baseless He finds tina
the most confident dollar wheat men are be
ginning to postpone their advance unit
March. and he advises traders not to carr,
long wheat 10 scent decline. as he believe
that they can sell out and get back again.
f. j. knight g. Co. quote Beerbohm's opin
ion: There is decided absence of charter
for forward loading. unlike last year and th'
year before. when quite a fleet of steamer
hadlalready been chartered by the close OF tn
year. There are, moreover, very few offers o
new wheat for shipment although the pres
ent price obtainable is about s. per quarter,
cents per bushel higher than at this time las
year"
Provisions were stronger today and Sulli
L a W stata m mn mi
pork and lard will enjoy an excellent advance
II has been many months since the provision
market has shown any bull spirit or activit
but Of late il has been shaping itself for a bul
campaign which will extend into the spring
| hs