The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-08-01
COTTON.

New York. July 31.-The cotton market
| opened dull with prices l point lower. For
the first time in the history of the exchange
| there were no sales on call. The market
steadily improved after the opening on lgh:
| LEGAL buying and at II O'Clock ruled dull
| but steady at net advance of TO points
| Sales TO that time were $500 bales The
! apathy was with the bulls with the abb
! mentS in the cotton belt and general stag
/ ration in outside interest. Cotton contracts
opened dull and nominal in the absence of
! transaction on the call. According to bids
all grades were nominal. Dry weather was
reported for the entire belt. New Orleans
buying caused irmness last in the morn
ing. The market was steady at net ad-
vance of to points Total sales 1890
bales. Receipts at the ports estimated for
the day at 800 bales. against $50 bales last
week, and 1881 bales last year. Receipts
a. the ports for the week estimated 81 S.
500 bales, against 1881 bales last week and
i.59 bales last year; Memphis Al bales.
against IS bales last year, and at Houston
81 bales, against 7S5 bales last year. Clos
ing quotations: Spot quiet; m.ddlng up
lands Sc; m.ddlng gulf, Size: sales al
bales. Futures closed steady; sales g. 000
bales. January. SIP; February, SIS;
Sept, $.32; October, S.1S; November, s1.06;
December. Sos.
The Evening Post of July %, says of the
cotton market:
only moderately active today. the under
tone Of the market was decidedly better.
and it showed a disposition TO improve from
the start.
The principal bulLsh factors stimulating
the market were better cable adVces, with
spot sales at Liverpool increased TO 1900
bales: better trade reports from Manchester
and the continent. and the continued good
demand here for spot cotton, and also at
the south for home consumption. as well
10 1ols to-, Of hsas ~
ty of cotton left in this country, and the
effect OF a crop-scare might have been SEN
timent. and the general Discrimination upon
the part of the bears 10 increase their IN
terests. also contributed 70 help the market
and create bullish sentiment.
At the opening prices were I TO points
higher August selling at NiS on the call
September rs, October 1.Cs. November. 7.0l,
December 1.OS. and January 706 After
the CALI the market receded 20 last nights
prices. on selling by local traders on the
absence OF outside business. and the wealth
er bureau reporting 1.42 inches OF rain at
Ballingsr. Tex; "A inch at Beeville. 20 inch
at Long View. so al Paris and trace at
Dallas, Dublin and Sherman. This was
about the only rainfall reported by the bJi-
reau IN tie entire cotton-belt. There was
no other selling pressure. however, and. as
the offerings were readily absorbed, the
movement ceased, and the market gradual
~ hardened and advanced under the lead
OF August which moved W s points from
the opening TO rs. shortly after u O'Clock
The rest OF the LIST advanced > 20 3 points
in sympathy. September selling al 30, Oc-
tober I'll November 7O3 December 7.6;
ard January zee TIE buying IN August
was good and was based on the difference
between the prize OF the contracts aud
SPOT cotton. which is quoted az 1915 on
tho basis OF m.ddEng. The scarcity of
actual cotton here and AZ the south. and the
feet that exporters and factors are known
TO be short on contracts. made the advance
in the option easy 70 accomplish. A. :
o'clock the market was quiet but steady a.
the advance. with total sales Up 20 noon
OF - 81 bales.
In the Liverpool market there was good
demand Cor spot cotton. with prices finn
and unchanged. a. 4l.d for m:6dEng- The
total sales were increased by late business II.
20 l4.O,a bales OF this amount 1880 bales
" ere Of American cotton and 200 bales
were taken for speculation and export. The |
receipts were $50 bales. all OF which were 3
OF American cotton. The market there FOR (
futures opened steady. al I'D 20 l-Si1 ai- 1
vance. and closed quiet but steady OF that /.
basis
The cotton market continued steady /
-hroUCao the afternoon under moderate 4
.,ad:ns Bullish sentiment increased WITH 4
the hardening OF the southern $40: markets 4
and advanced lis n spot cotton here. 20 I
the basis Of cents for m:ddliag. Dess-- 4
lolA grades were hard 10 obtain. ani re 4
transactions as a consequence were COM
oaratively small bur so bales being sold n 4
ms market. all OF which was Tor ho-ne con
sumption 4 broker reported the sale OF
some cotton % long staple which had been
,arriei here for over two years L was