The age-herald., 1901-07-24
BREAK IN JULY
 CAUSED DECLINE The Net Decline in July Was
 Thlrty-seven Points GRADUAL DRAG DOWNWARD A 6uiIish Government Report From the Cotton Belt Caused Rally of Several PoInts-Southern
 Drouth Continues.
GRADUAL DRAG DOWNWARD

New York, July 23.-A sensational break in July was the feature of the local cotton market today and dragged the latter months downward. August was next weakest The net decline in July was s7 points to 7.S5. The opening was barely steady with prices points lower to point higher, and was feverish all day, with rallies few and far between Small operators withdrew from the mar ket whenever possible and refused to take a fresh hold until the July deal was set tied for once and all and until reports from the crop center became more har- monious. The early cables reflected an easier feeling abroad and orders from the South went almost exclusively to bear side.
 By midday the decline was matter Of 5 to points on the speculative months Then came bullish government report stating that the plant was small all over the entire belt and fruiting at the top over the central and western section. This caused a rally of several points. All of 1t was lost later under room liquida- tion and bear selling, with the last hours recording the lowest figures of the day. The forecast gave no promise of a break in the Southern drouth. although thunder showers were looked for in the western portion. Clearances for export from New York were again large, being 5000 bales making 1S,O0O bales within the past two days. Freight engagements for the next five weeks were said to be very heavy and something like 75,00O bales were said to be in preparation for shipment to Europe. A decline of 3-16 cents in spot cotton here was quite in accordance with general ideas, considering the severe drop in the July position. Port receipts con- tinued sufficiently small to give color to exhaustion predictions. Crop accounts were very much mixed from all parts of the belt and gave neither side special ad- vantage.
 The market was finally easy, with prices net 12 to 34 points lower. New York, July 23.-Cotton quiet; mid ding, SA: net receipts, 595; gross receipts, 4,s61; sales, 1,535; stock, 1S1, 756; exports to | Great Britain, 7,536; Continent, TOT.
 Total today: Net receipts, 4,42l; ex- pOTLS u 1ISdl oilldliip 1VSoVob SOAhshASAAst 4,326; stock, 374,162.
 Consolidated: Net receipts, H,464; ex- ports to Great Britain, 1S,22S; France, | S,218; Continent. 24, POS.
 Total since September 1: Net receipts, TAI, ,129; exports to Great Britain, 2,9S4 1880; France, 715,S25; Continent, 2,5OS,6S5.
 New Orleans Cotton Market.
 New Orleans, July 2S.1-The market for spot cotton to-day .was somewhat more | active than for several days past and the trading was understood to be upon the basis sof,6siight concessions in favor l of the purchasing element. The general breaking up of the drouth-the much ex- | aggerated ,drouth - in Texas Is gradu- l ally inducing change of sentiment in the market and buyers are greatly encourag- ed to pursue a waiting policy. Sales to- | day were 360O, bales, including $50 to ar | rive. Quotations unchanged. | Trading was light to-day in the market | for contracts, but there appeared to be g. l more scattered interest at the opening | than has been common of late. How | ever, there was not enough doing In any | month to stir up more than passing 1n- l terest and the field was left pretty well | in the hands of light weights. Liverpool | came but shade firmer for spots and with a gain of partial 1-64d on deliver
  | she had. This market on the first call | showed a loss of 1 to 8 points for the new crop and points on August The market gradually declined until the close | when July had lost 4 points, August 10 and the other months 12 to 15, compared | with yesterdays closing.
 New Orleans, July 2S.-Cotton steady; sales 36OO. Ordinary SIS, good ordinary 6 | 13-1S. low middling 7sA. middling S%, mid- ding fair g, nominal. Receipts 256s, stock I So,751.
 Consolidated statement-Receipts. net, IA, 464; exports to Great Britain, H'zzs; @ 10 | France, S2ls; to the continent, A.2oS; stock 734,162.
 New Orleans, July .82-Cotton futures steady. July 1868 15, August SVg1 Sl' September 45@7 4. October 34Q1 S5
 November 3497 35, December [ 33@7 34,
 January T 3507 37, February aQ7 Ss. 1