The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-07-31
COTTON.

| New Orleans. La. July 0--Cotton-ouet;
sales 80 bales: ordinary. sf-lec; good ord
nary. 1880; low middling. 9f.c; middEng.
7li-lsc; good middl,ng. Sc; middiing far,
! s7-Ise.
| New York. July so-The cotton market
| opened steady with prices per cent higher
/ to point lower. ruled Quie, and fea;ureless
( during the early part OF the session and al
/ II O'Clock the opening prices were current
| with the market dull and steady. Trade
| was OF local origin. There wss nothing IN
English cables or south crop reports 10 tn
| fuence and with no evidence OF outside
I specuat,ons. local crowd showed dlspOs!-
I ton 10 go slow. Sales 10 II o'clock were
, 1000 bales. Closing quotations: Spot.
! quiet; middliDg uplands. Sc: miidEug gulf.
SIC; sales .3sS bales Futures closed very
February, Ti1; March. I'LL; April. sis:
August. S52: September. E.S; October,
s7ss: November. sos: December. S.6.
The New York Evening Post for July y
says:
The speculation in cotton today was on a
reduced scale. with the marker quiet and
| depressed on the lower Liverpool markets
for both spot cotton and futures. and the
weather bureau reporting good rams at
eight different points In Texas. ranging
from Is 10 i inch. with an exceptionally
heavy rainfall OF rs inches at Brennan
The development OF these features. which
were generally known In the trade before
the market opened. caused renewed houida-
aged free selling by local bears for the de-
cline. Under this pressure the market open
ed easy, at TO points decline from last
nights prices. with August s.. s. September
S.2, October Sos. November SH. Devem-
Der S.07 and January 500. from which
range there was further decline or from
] TO points soon after The opening cali IL
then became apparent that very few notices
OF delivery OF cotton on August contracts
had been issued and that short time
notices even command a premium This
pla .nly showed the scarcity OF offerings OF
actual cotton, and the selling pressure sub
SIDED The closing Liverpool cables were
satisfactory, but their depressing infu-
eEce. together with the rain in Texas. was
offset by the demand and supply situation
in the spot trade and the market later
gradually recovered from the opening weak
ness and rallied 10 within 10 points OF
last nights closing quotations. az which
the tone was quite steady. The total sales
up 10 that tine were ~ 800 bales. The re-
port in some of the morning papers that
some mills in the east have been obliged
10 close had no effect whatever upon the
market. as II is recognized IN the trade
that one OF the principal causes OF their
shutdown was the failure OF the mills 20
supply themselves with cotton when u was
cheap and freely offered earlier IN the sea
son. The English splnners were then
shreyd enough 20 lay in their usual stocks.
ard now the majority OF the New England
and southern spinners having failed TO do
80. find themselves unable TO obtain the
desired grades. even II they were inclined
TO pay what they now regard the arbi
trary prices holders ask for the cotton. A.
the end OF the season apIroa ches X IS ike
~ that more m liz will bS compelled 10 shut
down for this reason alose The unusual
spectacle OF southern spinners being forced
to come 20 this market 20 secure supplies
sufficient 10 carry them over until the new
crop appears Is being witnessed.
The rainfall In Texas. as reported br the
weather bureau for twenty-four hours 20
O'Clock this morning. was as follows:
Galveston. 10 inch. Houston. -. hsrTV.lle.
~ Long View. 70. LuErg. ~. Orange.
.04. San Marcos. -. Weaiherford. H. Bren-
ham 20 and Temple and Huntsville a
trace. Except rains in portions Of North
Carolina. South Carolina. Georgia and Ala
bs ma the weather cond. Cons IN the balance
OF the cotton belt was clear.
Liverpool cabies reported spot cotton
there easier and f-32d lower. at ,izd for
IT .ddlings. with total sales of 1000 bales
Futures opened easy and i-s4d 20 e-e,I lower
ard closed quiet a. net decline OF l-s4i
from Last nights prices.
The msrke, was very small and narrow
and sensitive during the afternooa. with
tiaued light and almost entirely local. but
steady undeTtone continued IN evidence
on ne spot situation. Only a few notices
OF intended delivery % cotton on August
contracts we're issued. and they were stop
ped as soon - they were put IN circulation
TIE msrke; for spot cotton ruled quiet
ard steady and IN fair demand. w.fa prices
unchanged. on The basis OF l5-,sc for md
ding The total sales tb32v were -
bales !nciud ng II bales taken BY SPIN
rers ,or home consumption. and 5H5 bzies
delivered on contract. The southern spot
market ruled steady. with prices generally
unchanged
The make. closed steady.