New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1903-05-20
COTTON SCARS AGAIN.
4nother Nesc High Le0eI for Season
-Importations from liverpool.
INTEREST IN W. p. BROWN.

The local cotton market yesterday witnessed
NH another record breaking day Opening
prices were to 8 points above MONDAY S cAoSe'
and in the first hour Of trading renewed co'ei-
ing by shorts sent prices TO another new hlsh
level for the season. July selling at Il-oo' Au-
gust at 1loS, and September at $50 AFTER
opening s to 10 points higher, Liverpool re-
ported unsettled conditions, and reached level
11n 70 1884, points higher on the near months
Later there was break of about D points winch
brought prices back to just little over local
exoectations The strength in spot cotton there
pras again remarkable, quotations being ao-
xanced Is points but the trading showed a
marked decrease
Under very heavy profit taking prices yielded
here before noon. declining s to % points; but
the publication OF the weekly report Of the
Weather Bureau, which reflected much less
favorable conditions than had been expected.
was followed by an urgent and general covering
movement. which caused sharp advance and
within ten minutes July sold up from LIZ TO
,124: August from 1921 to 1927 and Septem-
her from, @ &C. 10 go This rally apparently
.xhausted the immediate demands from shorts
and was followed by another period Of reaction,
during which trading became much less active
The decline was started by selling OF july 1t
vas reported. for account Of the leader Of the
New England group of former bulls AS 1t pro-
reeded, the selling movement was sWoiIeh py
.,-oft taking by room longs, and prices were
forced down point by point in the face OF con-
.inued support. with the market at all times
exhibiting a feverish undertone. Just before
Che close the trading became again SPIRITED
and martial rally took place May closing at
a164 July at "a, August at 1898 and Sep
sember at 9.7S. with the general list net TO
81 points higher, the greatest gain pelng III
November which closed at go. Sales were es-
Minated at 100000 bales
Both w p Brown and Daniel J. Sully. the
batter now arrayed openly with the bear party
were on the floor of the exchange Brown Is
khe feature Of the market from the visltors gal
lery point of view. The fact that the new bull
fes6er is a. Southerner from the cotton belt ana
a planter and dealer in real cotton makes him
especiaIly an object of popular interest Not
few of the visitors were Southern people, and
none were satisfied till Brown was pointed out
The new bull leader Is about the coolest man on
The exchange floor. Most Of the time he sits at
The Beayer-st. corner Of the roo n, talking win
brokers. The conversation apparently takes all
his attention and he laughs as he talks, re-
rlining at ease in his chair. But ne sits wheIe
ne can watch the blackboard where he can see
both entrances. and where he has q coInIlahu-
ing view of the pit and Il observed closely IL
will be noticed that he keeps close watch on an:
s. is reported that at least one prominent
operator in raw cotton has within the last Gay
or two bought largely of the finished prooucl'
and the inference is drawn by some that elther
there is an intention TO corner the hnlsheo
product as well the raw. or that the natural
rondttions are such to make the buying Oh
She manufactured goods sure speculation:
Apparently great efforts are being mace 10
set sufficient cotton here to MI the requirements
IF the May delivery Large amounts are belhg
purchased from the mills, and hundreos OF pales
a-e beine imported from Liverpool. Inc piers
IF the Bush Terminal Company, In South BROOK
fvn are covered with the bales winch are pelnS
slowed away in the conpany's storehouses as
randy as possible. and the New-1ork DOCK
Company and the American DOCK company are
sn practically the same condition.
Liverpool May 19.-The cotton market opened
strong to-day, with advance Of ~ TO II
points During the morning prices further ad-
vanced amid excitement. Afterward the mar
ket became unsettled and fell slightly On re-
ceipt Of the New-York cable, prices steadied,
but on further dispatches coming In, the mar
ket again became unsettled, closing with $50 to
q points advance for near months, and generally
unchanged for distant months. September and
October. exceptionally, were quoted at 3la points