The Montgomery advertiser., 1904-08-02
the quotation. on the Cotton Exchange to
H. . ,. BEERS COTTON LETTER.


 fBy Private Wire to Caldwell. Ward & Col
 NEW ORLEANS, August 1.-The feature
 of the day was the publishing of The Tinfes-
 Democrats monthly crop review in advance
 of next Wednesdays monthly bureau report
 on condition of the crop to July 25th. Ac-
 cording to the general summary of the To-
 cal Journals report. weather has been ex-
 tremely unfavorable over a large part of the
 belt during the month of July, excessive
 rains retarding development and maturity of
 the crop Complaints of damage by shedding
 and scalding were also made. and the boil weevil was reported as active in many sec-
 tions of Texas. In Alabama widespread anx
 iety existed over doings of the boil worms,
 and pickers were said to be scarce AL
 though conflicting with private accounts.
 which usually good. this report. which
 is considered from a ssemi-official source,
 created no little uneasiness among shorts
 and spurred longs in New York with new
 courage in their attempts to disledge what
 remains of the large short interest that ex-
 isted some two weeks back. As index
 to what the bureau report on condition of
 crop will probably be. have returns to
 New York Journal showing an increase of
 1.2 points over last months condition. and
 Miss Giles estimate for betterment of z.1
 points for the month. whereas on the other
 side of the market rests the report of The
 Times Democrat indicating something of a
 set yback, and the report of prominent New
 York commission house placing the de-
 terioration for the month at one-half point.
 The general consensus of opinion is that
 weather conditions for the past thirty days
 have been favorable and the crop has
 fully maintained its higher average of SS,
 as was shown one month ago. though the
 action of the market today would indicate
 that the trade was trying to discount a less
 favorable condition, the market having ad- vanced about 20 points today. October sell | ing at 9.73. compared with Saturdays clos ing of 953. The bureau report of the Sd instant will compare with last months SS
 last years 79.7, with s7.s year before and with ten-year average of s4.3 Picking is said to have become general in southwest Texas. and according to reports. will have begun in a general way in central Texas by the 10th instant As yet offerings are scarce from the Lone Star State, but bids for round lots were solicited today from both sections of the southern part of the State. There Is little or no demand for spots in the local market. prices being steady and unchanged. Sales. 325, none to arrive; middling. 1Oss. The only favorable feature we can locate Is the healthy con- 'dition of Manchester's trade. a good demand for cloths with indications of continued &C., tivity.
 Caldwell, Ward & Co.'s Cotton Letter. NEW YORK. August 1.-The Times Democrat crop report directly responsi- ble for an advance of 20 points today. For the first time a definite note of warning regarding possibilities of deterioration was sounded and shorts who have heretofore re- mained steadfast in the belief that condi- tions were continuously making for a bump CT crop became alarmed and have been lib- eral buyers to cover all day. When Liver pool on Friday. August was at 10. 24, Octo- per S.So1 Dece1nDer S.So. All the decline of Friday afternoon and Saturday has since been recovered and at the closing today prices stand as follows August. 10. %; October 9. 92 January, s.S9; March. 9 92 Accordingly, Liverpool is expected to come in tomorrow about point lower on old crop and to up on fall and winter months. telegram from San Antonio reports re- ceipts there Saturday of $50 bales and a shipment today of 200 out of that amount There Is O suspicion. however, that returns have been kept back for a week so as to give an opportunity to send in surprisingly large receipts for one day and the tele- gram had but momentary effect. In con- nection with early receipts there Is one fea ture of the situation which is likely to have a decided effect which seems to have been entirely overlooked. We have heard a great deal of the number of long contracts looked up as the result of spinners' and exporters purchases to hedge but nobody seems to have given proper weight to the large quan- tity of contracts sold by Anterior buyers against purchases for fall and winter deliv- cries made from planters and farmers out of their growing crops. some of 1t as high