The sun., 1903-12-10

July .August."....... e.4i 6,3ide.S5 +42a4.A3
Heavy aaas'son was the order g. the day in
were eyIdencss @ '9o OF early selling by bo!h New
YeTA e ,hs and Nss ssns esPss0Tn bsvfIpSS
with the fact that the Liverpool market showed
orH e RuSa sa SC 0s
n whf Is ,. M IN Se son ,
the the sfs Speculation is on The Whole o. maTasads
une1ampled In cotton history, while the swing
points or so. in spite OF a break in New. Orleans
leans, the absence % Of he bull s.dsT in broydense
and run,ors tina, he had sold out his Interest: in
esRsf ne ooPns to S
duci!on. i possible, by the mills .hr9ughog. the
ern spot markets. the falling on in British exports
thus Yer & for The year Of Of lao so Goo pSndS Snn Of yarns
slScnt attacks upon the market by clique here
n for The on h s
theory tina, prices must fall back TO a point a,
he veV M @ eondons The V'sS
goods trade. They think the crop has been greatly
was a, least month late means ,ast 50 much con con
sumption lost for the season. Vet the opening
an % advance % in the face Of unsatisfactory Live
pool news: prices there falling 10 10 American
down prices in New York and suddenly and SHARPLY
buying and covering ot shorts caused an advance
quotations largely under the weight OF selling here
by New orleans people. who In two days have sold
on II very large scale. Some think this was partly
for the New Orleans bull leader last season There
stop orders b. houses with connections not only
In the South hut In Wall Street the est and other
parts OF the country. Yet. In reviewing the events
OF the day, the Impression which the unbiased
observer nnds most strongly stamped upon the
mind is that the martct absorbed the speculative
offerings with surprising facility. whatever may
be said OF the spot offerings and that tho decline
under the circumstances was small TO give
color TO the statement of'en heard In cotton cir
ceS that most commission houses have plenty OF
cline. ], Is common report that In the ncignbor.
hood OF IL cents the buying orders In the hands OF
commission houses are especially large, The fact
remains, and should no, be lost sight OF. that the
jusied Itself to current prices for the raw material
and that the spot markets continue by their dull
and depression TO play a role not dsslmilar
to that OF the skeleton at the ancient feasts. The
bulls. however. think that splnncrs will
recognize the futility OF opposing the Inevitable
aud viii purchase freely at rising prices. They
thiuh. too that the cold. wet weather now pre-
vang at the South Is bound TO some dlm.
mutton In the receipts
II was the opinion OF some that william p. Brown
believed that this selling was for short account
and that MI Brown and Mr.. Hayne. who has latterly
bought heavily are on opposite sides of the market
In any case. New Orleans operators were very
good buyers. In the afternoon Mt. Sully and
his following are supposed by some 10 have sold.
Mr. Sully himself left for Providence yesterday
afternoon but Is expected 10 return late to might
his entire holdings, but denied by representa-
tives OF his house The fact seems to be that the
Suly following trade In and ahout like mos, other
people and thnt he who has been the hull leader