Atlanta semi-weekly journal. (Atlanta, Ga.) 1898-1920, 1902-06-26
.iurphy e Co.'S Cotton Letter.


NEW YORK, June 25.-Decidedly higher
cables were encouraging features of the
early local cotton market The Texas
drought was making an impression az
Liverpool where the Illness of the king
was having no effect on the market. New
York opened 5 to points higher on active
speculation. The main question now to be
solved IS as to the duration of the Texas
drought Bulls are not losing their heads
as is usual under severe drought condi-
lions. The fact is recognized that actual
damage Is anything but widespread and
that the crop Is by no means In critical
condition, though II may be later on. This
restraints bulls from assuming the agrees
sive and prices are allowed to advance
only as justified by the DEVELOPMENTS from
day to day. The forecast for Texas was
also for fair weather. Liverpool was buy
ing here but prices receded on profit taxi
ing by yesterdays buyers. The fact
that Liverpool will not reopen until Mon
day next was against broadening mar
ket. Texas was sending number of poor
crop accounts and gloomy forecasts, but
at the same time came reports Of benefit
by rains last week at many towns not pre-
viously heard from. Wall street interests
appear again on bull side. Port receipts
SOO0 last year l2OOO.
Southern Exchange Cotton Letter.
NEW YORK, June 25.-The feature bf the
cotton market today was the continuation OF
reports from Texas complaining Of the. UNI
broken weather conditions prevailing there.
ness as to the development of the crop already
planted Liverpool was firm at an advance OF
to points over sSs sgpg OF SOi e deSnd
for spots there, the sales-6.OOO bales-were
rather small for mid-week day. This Is ac-
Edward-as fears OF panicky market. both In
cotton and stocks, are entertained IN the event
Of any sudden unfavora6le developments IN
the condition of his majesty.
The predictions for general showers today
day for the past two weeks Reports coming
10 US indicate cloudy and cooler weather with
9 @ ssSgsT ~ saSre duT
the fore part Of the week has been the cur,
tailment Of reports OF damage I by the Dol, Dol
oblivion and 1t is hoped that they have been
S fOg IN TS s ye on his
are felt more severely than a few weeks OF
The Juvenile or rather pessimistic traders
claim that the conditions as reported are moth
ing but extreme exaggerations Of the true
win witness much lower prices before the
summer is gone. They claim that in every
to acreage and growth excel in every way that
OF any previous year. We are not inclined 70
purchases on any sharp declines.
our market was firm with little change.
Port receipts 5000 against l2.O49 last year.
Grain and Provisions.
CHICAGO, June &.-July wheat opened
unchanged to 1-sc lower at "a 3-S to "A lac
on lower cables and on somewhat favor
able weather map Threshing returns were
poor and very little stuff was being Of
fered from Oklahoma, Kansas Indian Ter
ritory, Indiana and Illinois because of
doubt of grade. July sold to "A 1-2 and
steadied. Receipts were 203 cars against
81 last week. for 1S2 a year ago.
Wheat closed weak &c down, at 1850, on free
selling
Both July and September corn opened
i-403-Sc higher on higher cables and cold
wet weather in much Of the corn belt Re
ceipts were light and old deliveries were
hrnn There WAS free taking of Sentenher