The St. Louis Republic., 1901-07-20
CONTINUED SELLING
EASES COTTON Market
Hard Rains Are Reported in North
ern Texas, With More
in Sight.
SPECTATORS ARE NERVOUS.
In Spite Of Rain Reports Adyices
State That the Plant Is in
a Very Precarious
Condition.
sPEcuLAToRs ARE NERVOUS.

REPUBLIC SPECIAL.
New York. July 1s.-More long cotton
came on the market during the forenoon to-
day. dislodged by exceptionally weak Lv-
erpooi cables and rain reports from the
central and Western belt. On the opening
call the market eased off to points, with
the South and room longs nervous sellers
Private reports had it that hard rains had
fallen over the northern portion Of Texas
and in parts OF the central belt as well.
with more likely to-day. Liverpool had been
looked to for drop of some points, but
at the time Of our opening was cff 4 to 51l
points and weak at that.
Those traders accustomed to follow up the
policy Of buy on breaks here took up
their method with will, and by 1890 prices
were trife above yesterdays close. with
the feeling once more quite bu!lish. The
Government chart did not indicate any rain
storm Of account in the Western belt. nor
were there signs Of protracted wet weather
over the central section, while IN the South
Atlantic States the usual day-after-day
soaking rains were in evidence.
Rally and Slight Advance.
The rally sent August to III. October to
7.73 and January to 7.7a. Shorts were tinid,
and. in the absence of fearless leadership.
whole temper of the market had swung
round to a bearish affair." with prices off
to III for August to 7.s2 for October and
to 40 for January, under hurried liquida-
tion and bear selling. due directly to official
rain reports and a forecast for threatening
weather tonight and tomorrow over Okla
homa. Indian Territory and Eastern Texas
The decline at midday amounted to to
Z points on all months. except July and Au-
gust, which were 2 to points net lower
only.
On the reaction the New Orleans market
took the leadership in point Of weakness
and sold small lines in our pit Liverpool
was quick to stifren with our market on
the first hours rise. but closed feverish and
we'll down to the lowest figure Of the ses-
sion.
But. in the face of the rain accounts,
crop advices stated that the plant was In a
precanous condition and could only be res
cued by continued soaking downpours.
Texarkana telegraphed: Few scattering
showers in North Texas. Nothing short Of
big, general rains will relieve situation
and later. from the same point, Showers
In Texas very light; clearing to-day"
Paris. Tex. wired: "Rained hard for one
| hour late yesterday. Indications for more;
seems general
Liverpool described the break there as
''in consequence Of American selling orders,
mostly New Orleans
TROUGHT SITUATION IN TEXAS.
REPUBLIC SPECIAL
Dallas. Tex, July 19.-The drought situa-
ton In Texas tonight is approximately the
same as 1t was last night. Showers fell
this afternoon at a half dozen widely sepa-
rated points In the cotton district, but they
were OF only local extent and minor bene-
| fit
The best results Of the showers Of yestcr-
day and to-day have been in the tempering
of the hot winds that were whitening all
kinds OF vegetation. The atmosphere has
lost much Of its simoon-lil-e quality.
The rain Of to-day was heavy around Dali
las than at any other point. but it did not
| cover more than one-hah the county.
Following are the Thermometer readings
over the cotton district Of the State at Z
| p. m:
.Dallas-partly cloudy. 81. Texarkana-
| cloudy, no rain to-day. so. Clarksville-
cloudy, no rain. "a. Paris-cloudy, threat
| ening. 95. Denison-cloudy. threatening,
| 90. Gainesville-cloudy. light shower to-
day, IS. notwithstanding, 50. Waco
cloudy. threatening. "a. Belton-fair, no
rain. 100. Fort Worth-cloudy. heavy rain
to-day. 70. Corsicana-cloudy. ten minutes
rain. Sc. Austin-clear: no rain. Sc. San
| no rain. 95. Galveston-clear. no rain, o.