The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-08-17
COTTON.

New Orleans. Aug Ie-Cottor-Eo mar
ket: sales 3 bales: ordinary. 5-iSc; good
ordinary. 5 Il-I6c; low middling, &c: mid
ding. 7-lsc; good middling. re: rl.ddling
far. S-lsc.
New York. Aug. Is.-The cotton market
opened easy with August points and 9TH
er months 20 : points lower following re-
ports OF good rains In nearly every sec
ton OF the cotton belt and indications OF
weakness IN the English market Liverpool
and New Orleans sent selling orders and
fer tine the market was active and fever
Ssh. Covering by local shorts tended 20
check additional declines. A; u O'Clock the
market was barely steady a. net loss OF ;
20 3 points with sales 20 that hour. 1000
Selling was checked BY sharp advance OF
u points in August This was Cue 70 a
great scarcity OF sellers and sudden de-
nand for that option. August opened at
40 and Immediately sold up 10 "a Si;hou'
q break. Closing quotations; Spo; closed
quiet; r;ddling uplands. S; middling gulf,
sLc; sales. none.
Futures closed steady: sales. leS40 bales.
January. s7S; February. es1: March. *;
April, SIS; August 6S; September es1: Oc-
tober. GU: November. s75: December. S7S
New York, Aug. 15.-The announcement
o. the failure OF William Mitchell. member
OF the cotton exchange. was made on the
first call this morning. Mitchell had few
outside contracts.
The New York Evening Post OF August
Il says:
There were no new developments In the
speculation in cotton todoy. The volunse
ofubus.nesS continued moderate and the
market easy for the new crop deliveries
under continued selling by local traders.
New Orleans and Liverpool on the crop sit
ua;.on. and the absence Of business and
the lack OF bull support.
A few more showers OF rain were repart-
ed in Texas by the weather bureau, the
rainfall for the past twenty-four hours be-
ing VI. inch at Beeviile. Cureo. and Henri
eta, 10 at Luling 40 at Houston. &c az
Brenham. and a trace a. Columbia and
Temple. This. with favorable crop ac
counts from the Atlantic and Gulf states.
ard lower markets for both spot cotton
and futures at Liverpool. were the princi-
pal features which helped TO further depTess
the market The Liverpool advices were
especially d.scourag.ng 10 the bull inter
ests. They reported spot cotton there qui-
e; and Lad. lower. at S-lsi for modelling,
with sales OF but 5000 bales. while futures
closed quiet al Il TO l-6Sd net decline. The
Chroricple's weekly crop report was also
construed as favorable 20 lower prices, In
d.cating. as II did. further Improvement
in the crop in the Atlantic and Guls
states. and the amel.ora,.on OF conditions
although admitting more moisture is need
ed IN number of districts in that state.
The reports of the mercantile agencies
ard the predictions OF very brisk fall
trade in dry goods by the various dry goods
newspapers. and the very encouraging re-
ports from the print-clo;h markets az Fail
River and Providence. which indicates the
largest sales and weekly reduction In stocks
recorded since last fall. and prices strong
at rs cents per yard, seemingly had no
more effect upon the market than II they
had not been received. As previously stat
ed IN these reports. the rank and file OF
operators only see the prospect OF a large
crop. and they are beartsh almost TO
II an. At present they are bssing their cal
cUlations for lower market almos; entire
~ on the supply situation likely 20 develop
from the new crop, without taking into
consideration the great strength of the sta
tist.cal position the world over. and every
indication OF a larger consumpt!ve demand
this year than for any period during the
past ten years.
The market opened easy for all options
except August. with prices / "a ? points
lower for September and October. and
70 points lower for the rest OF the list.
September selling a. 10. October $50. No
vember s S.. December. $50 and january
ss5 After the cali this loss was rscov-
cred on moderate buying BY scalpers and
n sympathy with an advance OF points
IN August. which advanced from 75s 70
765 Later persistent selling for New Or
gust losing mos; Of It's advance In symps-
thy. A sharp recovery Of 20 points IN
September and Ocvtober helped 70 steady
the marke, in the late trading Spot cot
ton ruled quiet and steady. and unchanged.
a. cents for mlddliag, with sales for home
o-ous;ImDtlon