The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1900-09-07
THE BULL FEVER IN
COTTON BURNS HOT
1t Is Fed by the Situation at
Liverpool.
PANIC AMONG SPlNNERS
Rush Orders For Supplies Come to All
Rush Orders For Supplies Come to ALI
American Ports.
THE HOME MARKET CLOSED STRONG
Il Is Thirty-Six TO Forty Two Points Net Higher
Having Gained Nearly One Hundred
Points Since the Bull Move
ment Began Tuesday.
(By the Associated Press.)


New York. Sept. 6.-Dry Goods No
further business reported in regular
prints cloths but odds in good request
and wide manes are occasionally l-16c
dearer. Heavy brown cottons do not
respond to the advance in raw cot
ton. Demand Indifferent and readily
met for quick deliveries. Sellers shy
on forward contracts. Bleached cot
tons quiet and unchanged. Wide
sheetings steady Coarse colored cot
tons in moderate request at previous
prices. prints without change. Cling
hams dull. Cotton innings generally
inactive. Silks are selling inditfer-
emily at irregular prices. Jobbing
trade good.
COTTON.
New York, Sept 6-The scarcity of
cotton in Liverpool continues to keep bull
sentiment in all speculative markets at
fever point and today advanced prices IN
truly sensational form. AS for the local
market the rise since the movement set
in on Tuesday morning has reached
nearly one hundrd points with no sign OF
the eliminating point having been touched.
On almost every hand were to be seen
evidences of the desperate situation IN
which foreign spinners find themselves
The market opened strong, excited and
very active with September up points
and other months 81 to 80 points higher.
Before midday several violent changes oc-
Cured the market easing Off fifteen
points at 10:30 a. M, but again harden
ing still later on a wild scramble OF
outside shorts for cover. Europe and the
South were by far the heaviest purchasers
throughout the session, though the pub
lie bought large blocks of October and
January delivery. Whereas Wall Street
sold out long stuff heavily around the
opening in the belief that the market
had reached the turning point, this same
interest later became one of the markets
most enthusiastic supporters The bull
movement derived it's source chiefly from
remarkable strong Liverpool cables, the
English market advanced thirteen and a
half to fifteen and a half points on flu
lures and five thirty-seconds pence on
spot cotton with private cables reporting
nothing less than a panic among the
foreign bears and spinners. A close ex-
animation of the reserves stocks in Liv-
erpoo showed that fifty per cent of the
cotton in store was entirely unsuited to
the needs of Manchester spinners while
at least forty per cent of the remainder
was held for the account of parties not
in the market as sellers. Orders for i'm
mediate shipment of spot cotton were
cabled to all American ports; some five
thousand bales were secured in Boston
from representatives of New England
mills and similar amounts were pur-
chased in the Southern ports, for all
which ocean foreign room has been pro-
vided. Far from reacting in the late
session, the local market developed addi-
tional strength from predictions for an
other bulge in Liverpool tomorrow, on
claims that Mondays Government report
would be bullish beyond expectation and
estimates for very light receipts at the
ports tomorrow. Trading was very ac-
tive with buying led by the leading bulls
of the forenoon. The crop and weather
news was generally favorable, but was
totally disregarded, the trade giving at
tention exclusively to the bullsh situa-
ton abroad The market closed strong,
thirty-six to forty-two points higher.
NEW YORK.
NEW YORK, Sept 5-Cotton futures opened
strong.