The age-herald., 1901-08-07
Cotton Letter,

By Private Wire to Sledge Com. Co.
 Birmingham, August 6.-Liverpool ca- bles were decidedly disappointing today showing a loss of 295-64d on futures and 1-S2d on spots on light sales of the latter whereas an advance has been confident ly predicted in view of the bullish bu- reau issued yesterday by the Department of Agriculture. The decline was attrbu- ted to the beneficial showers in Texas since yesterdays close and to the poor trade conditions both at Manchester and on the continent. New York as re- suit of the decided weakness abroad opened at loss of eight to fifteen points and then sold off still further under fa- vorable reports from the South and the excellent showing of the weather map which indicated large rains in the east ern section of the belt good showers in the central division and moderate rains in Texas and Arkansas with lower tenn perature throughout. The weekly report was also very favorable and this helped to carry prices to Tower level The close was sixteen to eighteen points net decline. Advices from Manchester indi- cated that there was very little doing in that quarter, while reports through press dispatches from Fall River state that a paper is being circulated among the mills at that point asking for a re- duction of 15 per cent In the wages of op- eratives in that city. It Is stated that if Lue bplHDtTb are dDl6 LO DTlIk aDOut InlS reduction it will affect 25 600 men.
 Conditions are improving in the belt and prices, unless there Is further injury to the crop. will steadily work lower. The full text of the report follows: A general improvement in the condition of cotton over the greater part of the cot ton belt is reported. The least favorable reports are received from the north cen tral and the extreme eastern districts where shedding, rust and blooming to the top continue to be reported. Over the southern portion of the eastern districts cotton IS now opening and considerable picking has been done In Texas.
 Murphy & Co.'s Stock Letter.
 New York, August 6.-The stock mar ket was quiet and showing small and ir- regular changes in contrast with yester- days prices. Some encouragement was derived from the fact that for the first time in a number of days higher prices were looked for from the London market for Americans, and moderate buying or ders for foreign account were executed here upon the opening of business. There was no perceptible alteration in the steel strike situation from the conditions which prevailed yesterday. The an nouncement that the Amalgamated As- sociation would order a general strike for ten days or two weeks was interpreted in some quarters as implying a desire on the part of the association to renew their efforts to bring the strike to a settlement. Elsewhere in the industrial quarter a further advance was noted in A. c. O., and Sugar was also steady. Tn the rail- way list the St. Lawrence and Adiron- dack scored further striking advance and St Paul and Union Pacific were firmer than they have been for some days. There were active dealings in the Wabash issues which were firm. and in Southern railways the dealings were somewhat heavy. The steel strike situa- tion again virtually monopolized interest and discussion. At the same time the government crop report to- be published on the 10th of the month is naturally awaited with interest and it's showing is likely to have no little effect in future price movements The market for ster- ling exchange opened very firm and the probabilities of gold export attracted some attention