The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-08-24
rs early but became active buyers as the

| derS early but became active buyers as the
market Increased. Commission houses were
actively. Selling for profits by the bulls
caused reaction of 70 3 points imried.-
aiely following the call
New York, Aug. at has been a long
cay since the cotton exchange developed
activity and excitement witnessed or
Change at the opening CT business tbs
morning 1t is safe 10 say that the mos,
sanguine tul operators were not prepared
Tor the advance that occurred on the frs;
call. which commenced with August show
ing an advance OF - points. gained strength
as II progressed. and eliminated with an
advance OF p 10 = points.
After break OF SOLO points. which fol-
lowed the first cali. the market gradually
riShted Itself and did not only return g
the best prices. but made further decided
gain a. the best point % the day. showing
an advance % IS 20 = points Private ca
hleS state that the English cotton trade
fears il has undsriiscountei claims q
damage 10 cotton through the recent eN-
cessive rains n the cotton belt The &C
tiv.ty csnts7ed n October ard January
futures The market closed firm al 4 ne;
advance OF IS 20 5 points Spot. rnt6d.ins
uplan6S. Sc: n.ddl:ng gulf. sac: sales. 80.
bales. Futures closed firm: sales sla. oOa
bales; January, S.1I: February. Sill.
March. SIT: April SD. May. SIS; August.
N.iS; September, S.SS; October, Sis; No
vember. &07; December. Sos.
AC -N%" &SAh &-NSAt4SS 80 -hGSN
q says:
The cotton market developed hrnlness TO-
day OF better Liverpool advises than eN-
pected. further excessive rains IN the AZ
iantic and Gulf states. as reported by the
Gather bureau, and more friendly feel
ing toward the staple in sympathy WITH
the continued phenomenal rise an whea,.
The Chronicles weekly crop report Was less
favorable than had been expected. IS I;
indicated damage from the recent eXces-
rains IN The SOM beast norton of the
cotton belt. There was more disposition
TO buy than for some time. and n View az
the large reduction IN the wheat crop eS-
Inmates. there was less attention paid 70
the recent high cotton crop estimates. The
market opened firm and 20 points high
er, and after reacting l 70 3 points. or 10,
cal realizing, developed further strength
and closed steady, with the final prices
net advance of u points Cor August ana
10 points for the new crop deliveries over
last nights closing quotations. The buy
ing was principally by commission houses,
although there was some covering for local
and New Orleans account The bear
clique al New Orleans. which was active
in depressing prices yesterday and the day
before. on the 100000 10 j. G0c0o bale
crop estimate, circulated for their benefit.
were reported 20 have endeavoreG TO check
the rise. but they found the sentiment was
too strong against them. owing 10 the
strong lesson furnished by tA wheat mar
kets.
Spot'cotton was quiet and steady and I'M
changed, at 77sc for micdhng. with sales
of % bales 20 spianers. Il viii be noticed
in the table OF statistics, printed below
that the movement OF the crop i nearly
so per cent less Than last year The visible
supply figures in this week are the smallest
since 1890
At Liverpool spot cotton was quiet and
steady. with prices unchanged. al $500.
for middling. The sales were 500 bales.
The receipts were 200 Futures there open
ed steady al ~ 10 2-std. advance and closed
steady on that basis compared with las,
n gifts prices.
The Financial Chronicle. IN lie weekly
crop summary of this morning. says rs ad-
vices from the South cevonte that rain has
been quite general IN the cotton belt during
the week. In Texas the Improvement IN
the crop IS indicated as result OF the
but an portions OF Alabama and
In a few districts along the Atlantic the
has been excessive and dam
age is claimed 10 have been done. From
sections OF Arkansas and Alabama there
are reports Of worms. rust. and shedding.
Picking Is making good progress.