The age-herald., 1901-06-27
LIVELY DOINGS IN
 COTTON MARKET. Affrighted Bulls Got the Hot
 End of the Poker. CONTRACT SALES LARGE There Was an Evident Tendency To Hold Off Spots in Anticipation of Lower prices-BuIls Lost
 Confidence.

commence
 New York, June &.-Following the de- cline in the new crop options of yester- day cotton sold lower again today under liquidation of local holdings and selling pressure from New Orleans. The open ing was steady with prices down ? to 9 points under disappointing cables and talk of wet weather in the southwest where drought has of late been doing damage. After the call the market turned weak following a further decline in Liverpool and a sever break in New Orleans prices. On the decline came rumors of soaking rains in parts of Texas and reports that the whole state was covered with clouds For a time sentiment was unfavorably influenced by claims that some S5. 900 July notices which had been cut were not being cared for readily but it soon became evident that every bale was being absorbed by strong hands presumably for the account of the Clique" The late weather forecast failed to indicate any sign of wet weather for the cotton belt during the next thirty-six hours but as the trade here had become very nervous liquida- tion continued on a large scale and prices further sagged. The early decline carried August off to 7S6, October to 749 and January to 753 In the after noon there as further decline to 7.79 for August. 40 for October and 7.43 for January. Trading was very active and pit operators at time were excited. Crop news was bullish beyond question and the cotton goods and dry goods market re- ports were most encouraging. Receipts were larger than looked for and tended to weigh down the market somewhat. The last half hour witnessed a heavy spurt of room liquidation and selling for Southern account under which prices again gave way. The market was finally easy with prices net 14 to 20 points lower.
 New York, June 26.-Cotton dull; mid ding, SA; net receipts, 143; gross, S531; stock, 15S,70S exports to continent, 100.
 Total today: Net receipts. 12.049; ex- ports to Great Britain, 4938; continent, stock, 450,47
 Consolidated statement: Net receipts, 52, ,730; exports to Great Britain, 11,511; France, 1O0 continent, 5S4S
 Total since September 1: Net receipts, 7,248, ,4S5; exports to Great Britain, 2,9O0,- S6i; France, 706,s79; continent, BALBOA.
 New Orleans Cotton Market.
 New Orleans, June 26.-The market for spot cotton was quiet today and largely nominal as to values. After hours the trading upon the basis of higher figures. but with the morning break in prices for contracts decided change came over the spirit of buyers and there was shown 0 general disposition on their part to hold off and await further developments. Nor were nnticipations of a lower level of val ues confined to the purchasing element Factors seemed to have lost a good bit of their previously displayed confidence and while resisting claims for radical reduc- tions in upset prices, were rather more than willing sellers at broad figures. The sales were 1700 bales, including $50 to ar rive. Quotations were reduced b. There were lively doings in the market for contracts and the volume of sales recorded was astonishingly large, with the transactions representing in large part the covering of long contracts by af- frighted bulls who were favored with the hot end of the poker at every point Liverpool led off with a break of 1-32d on spots and scored a loss of 4-64d on de- liveries. but that was small matter in comparison with later developments on this side. The ball really started to roll when the New York market opened facing notices for the delivery of 26. 900 bales and when the first scramble was over and done with the loss from yesterdays level was shown to range from to points with the bulls struggling to hold their ground. But there was only one side to the market New Orleans piled on the agony by slipping down to 13 points on the call and by the time rain news be- came aparent from Texas. many were stampeded in the bull line and kept the bears demoraized
 The market closed with loss of 27 to 2S points on all positions, compared with last evenings closing prices.
 New Orleans, June 26.-Cotton futures steady at the decline. June, 810 bid; July, S.07@s0S; August. 7s7: September, 7.36D73S October 7.160I717; November, .15; December, 7.14@D7. .15; January, 7.16Q7.H; February. 71S07.20.
 New Orleans June 26-Cotton quiet; sales TOO; ordinary. 5 15-16; good ordi- nary, G9s; low middling. 7-16; middIing. 8; receipts. 7661; stock, 12OO33
 Consolidated statement: Receipts net 52,530; exports to Great Britain, 11,51l; France, 100; continent, 5S4S; stock, 45O, ,474 Daily Statement
 Galveston-Firm: middling. 7-16; sales, cos; receipts. 794; stock. sS,261.
 Mobile-Steady; middling, Ss;, sales, 100; stock, 6S6