The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1901-08-30
RECOUNT AT OTHER PORTS
New Orleans and Liverpool Will Also
Show Reduction.
HOT WINDS PLAYING HAVOC IN TEXAS
A Big Advance at Liverpool. Southern Sprl
Markets Harden. improvement in the
Dry Goods Trade. FOO Much
Rain in Atlantic States.
(By the Associated Press.)


New York, August Robustness is
steadily increasing in cotton goods. There
have been advances of Ac in some leading
brands of Eastern brown sheetings.
Bleached cottons are firm but no further
advances reported. Denims show hard
eniDg tendency. Print cloths firm. Prints
generally scarce with advances talked of.
Ginghams unchanged Demand improving
for hosiery and underwear.
COTTON.
New York, August 29-The market for
cotton futures opened firm with prices
five to twelve points higher and continued
to rise after the call on very active room
and outside buying, SCARCITY of sellers and
q superabundance of bullsh news from
domestic and foreign sources. Sentiment
which last night was very bearish, swung
completely around to the bull point of
view. Shorts were dumbfounded by an
advance of 51a@8 points in Liverpool fu-
lures, having expected a decline of
point on the break at the close here yes
terday. European buying orders. an aG-
vance of 3-32d in spot cotton in the
English market and reports that good
trade on the Continent was improving
served to intensity the bullsh tenor OF
the cable advices. AS for home news,
crop advices stated that the Texas crop
was failing very rapidly, too much rain
was complained of again over the South
Atlantic States and in portions of the
Central belt, Southern SPOT markets We're
described as very firm and tending up
wards on increased demand; Fall River
accounts depicted further change for the
10
movement of the crop fell short of pre-
dictions. BY midday January had adj
vanced to 802 and gave promise of doing
even better later in the day. Shorts were
nervous, and after several Intellectual
attempts to check the rise. FASTENED to
reach safer ground. Speculation broad
ened rapidly and included active buying
for warehouses and commission brokers'
accounts. New Orleans and Europe bid
freely for the fall and winter months
in our pit. Texas bought October on the
unfavorable crop outlook. Soon after mid
day reports reached the pit to the effect
that hot winds were causing rapid de-
terioration in Texas; this started buying
for both accounts afreSh and prices
rapidly worked higher. Close upon the
Texas news came an official statement
from the Exchange Superintendent show
ing a recount Of the New York stock, the
result of which was reduction in the
figures of 900 bales. to 114.000 bales.
This was totally unlocked for and threw
shorts into a more precarious position
than before October advanced to SOB
and January to sos, around which figures
there was considerable selling for profits.
Rumors that recounts OF the New Or
leans and Liverpool stocks, usual at the
end of the season, were under way and
would also show a pronounced reduction
did much to stimulate new buying. There
was very little cotton for sale at any
time except for profits the bears being
thoroughly d'sorganized. With an ad-
journment Of three days now close at
hand, and with two government reports
due next Tuesday. few traders had the
courage even to stay short, let alone put
out sales for a turn. The market was
finally steady with prices net twenty-one
to twenty five points higher.
NEW YORK
NEW YORK, Aug 3d. Cotton futures opened