The age-herald., 1901-09-04
COTTON PRICES
 TOOK BIC DROP. Opened Lower and No Ground
 Was Ever Regained HEAVY OFFERING OF SPOTS In Addition to the Gables the Trade Had Weakness In New Orleans.
 Bountlful Supply of Rain
 News From Texas.
OFFERING OF SPOTS

NVWo UtStU SA&os
 New York, September s.-1Phe market for cotton futures opened weak under general adverse infiunces, with prices 10 to 1s points lowef than Fridays closing figures Following the call there was further reaction to a net loss of IS to IS points, from, which slight reactions oc- cured on proft-taking and scattering demand for sealpfng account on the re- action theory The English cables noted a break of slk9i1 points on futures and si-16 on spot cotton, due to very heavy liquidation, brought out by rain reports from nearly all of Texas and heavy off fertngs of spot cotton from New Orleans, Tn addition to the cables the local trade had weakness In New Orleans, large sell ing orders from all points, and bountftul supply of raln news from Texas to con tend with. Reports that receipts from this section would be much heavier and that the south was increasing its crop es- inmates for the belt other than Texas helped to discourage buying for either account, and made longs doubly anxious to sell out. Promptly at noon the Wash , ington wire gave the average crop eondi- ton fo rSeptember as n4. The report as g whole was regarded as bearish, and un- der very active liquidation prices broke to 10 points; October sold off to 7.66 and January to TIP. There were reactions from this basis on covering, but the mar ket at best displayed a heavy undertone all the forenoon. The south sold here on the report and wire houses liauidated large blocks of October and JsDuary cot ton. Soon after the government statemFnt made it's appearance the special rainfall statement from Texas indicated general rains in that state with clearing condi- tions promised today and tomorrow.
 The market was finally easy, with prices net 30 to 56 points lower.
 New York, September a-Cetton quiet; middling. Sss; net receipts, aas; gross re- ceipts. SS1; sales, 44si stock, ll2,6ol; ex- ports to Great Britain, 1869; to the Conti- nent, 475.
 Total today: Net receipts. s,551, ex- ports to Great Britain, 1884; to the Conti- nent, 226s; stock, 2SS, 520.
 Consolidated: Net receipts, 3120i ex- ports to Great Britain. 17.17o; to the Con- tinent. l5,T2o
 Total since September 1; Net, is,Ss2; exports to Great Britain. is,s7li to the Continent, 2z6s
 New Orleans Cotton Market.
 New Orleans, September .s-The mar ket for spot cotton was very dull today, and for once, in way pending the re- eeipt and proper digestion of the agrioui- tural bureaus report covering the condi- tion of the growing crop, neither buyers nor factors show the slightest disposition to push the trading, There are a number of good lines upon the tables and no great diff1culty Is experienced by buyers In flnd- ing suitable grades and styles, Sales, 400 bales including 250 to arrive. Quota tions reduced 3-16 on all grades.
 The market for contracts was fairly &C., tive from the opening, though the volume of business transacted during the early forenoon was limited because of the in- clination on the part of trade to await the announcement of the bureaus f1nd- ings concerning the status of the growing crop At the first call prices were shade easier than at yesterdays closing and fluctuated over a range of four to five points during the morning hours with a slight downward tendency. At Il o'clock the bureau report began to come in and as Assistant Secretary Lea announced It's findings to the ring, interlacing his read ing of necessity with governmental week. ly condition reports the market became excited. Prices fell of rapidly to the ex- D of the monthly and would undoubtedly have broken to a very much greater ex tent had 1t not been for the fact that the weekly statement made 1t clear to the trade that the period of time elapsing since the close of the monthly report by the government on August 24 had wit messed serious deterioration in crop conditions pretty well throughout the belt.
 At the close September was Ses and October 7.5SeD7. 56. a loss of 28 points eaeh while the other months showed a net loss on the day of 20 to 2l points New Orleans. September s.-Cotton easy; saIes. 4oo. Ordinary, e&e, good or dinary, 6 1s-18c; low middlng, 7ssc; mid ding. 7-lee; good middhns. 8 13-16c, middling fair, 2 i-1so nominal. Receipts, S64; stock. t45,2 2S0, ,,.t--s - Consolidated statement; Receipts, net, 30, 120; exports to Great Britain, 17,l07; exports to the continent. 16,672 stock, 23s,52o.
 New Orleans, September s.--Cstton fu- tures steady, September, 7.69 bid; Octo- Der. T5S@7 56; November, 7.52@7. .54; De- cember, 7.62@7 .5s; January, 7.6s@7 .54; February. 7.bsQ7 .55: March, 7.5S97 55; April, 7.5sG1 56; May, 7.b4f97 ,56
 Daily Statement Gaiyestop-Quiet; middling, 1-16c; sales, 7s1; receipts, ess5; stock, 51,7io. Mobife-Nominal; middiing, SEC; TO- eeipts, 1ss; stock s26l.
 Savannah-Quiet; niddling, Sisc; sales, lO7; receipts, 652; stock, ross. Charlestop-Quiet; middling, Sasc; re- ceipts, 8; stock, 1134.
 Wilmington-Quiet; middling, sac: re-