The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1900-07-13
Cotton

Especial to the Messenger
New York. July 11.@Cotton declined
10 to "A points on this crop and Z TO Il
on the next. owing TO disappointing
cables. Liverpool selling OF August.
New Orleans selling of the next crop
and local liquidation. There were bene-
fetal rains in Texas. and elsewhere
II was fair As a rule. The first bale
OF the new crop was received at Cor
pus Christi. Texas. two days sooner
than last year. Part Of the loss was
recovered later and the close was
steady on covering of shorts and Liv-
erpool buying Of the next crop.
Memphis reports: General improve
ment expected though it has not yet
appeared. A large portion Of the crop
has not yet been put in good shape.
Much is not over 6 inches TO a foot
nigh. Unanimously gloomy reports
come from all sections" New Bosom.
Texas, says: Crop doing well, and
promises fair yield" Memphis. Hall
fine" Bartlett. Texas. says: Crop
has grown wonderfully" Lake City,
5. c., says: Crop smaller than usual
at this season Of the year" waynes-
boro, Miss. reports: Farmers getting
crop out of the grass" Mansfield. La,
says: Large cotton yield predicted in
this parish"
The New Orleans clique continued 10
hold that market up but sold here as
a hedge. Weather conditions VIII
dominate the market 10 a large extent
at least so far as the next crop Is con-
cerned. Our advices from many sec
tons show that the crop is making
steady progress. but Ii is still so early
in the season that the plant as liable
10 receive a serious setback from ad-
verse weather. Meantime cotton goods
are ouI' some Of the southern mills
are shutting down; the spot demand
at Liverpool has fallen off; the situa-
ton is far from satisfactory in India.
and developments in China may yet
have a material effect on trade in this
country. Trading should be for quick
turns. Let this crop alone.
S. MUM. son & co.
(By Associated Press)
New York, July 11.-Operations In
cotton today were hardly in the way
OF new ventures. though at times .,or,
selling was attempted on a small scale
values suffered severely in the fore
noon from a semi-stampede OF local
noIoers and from predominance Of ad-
verse influences. The opening wa
easy with prices down 3 to is points
and before the liQuidating movement
tIau run us course a sheer drop of III
70 "a points was recorded. Then came
. partial reaction on realizing by the
more turned shorts The most important
Dear factor was easily the LIVERPOOL
news; this Indicated a general selling
movement OF enormous proportions I'm
mat market. The government report
c. yesterday afternoon for the week
Just ended and expectations of heavy
imports from America during August
and September were the causes named
oy private cables as responsible for
n slump. Tender OF % cotton were
gen and large lines of long stu1
were thrown overheard on stop orders
in tie future market. Bear sentiment
1ourished here on fine crop reports.
exceptionally favorable weather ad-
vices from the entire belt and condr-
matien of recent reports to the e0ec.
that cloth markets were heavy and
Inactive. Throughout the afternoon
speculation was inclined to drag and
prices showed insignificant changes
much of the time. The market was
finally steady at a net loss of 3 10 10
points.