The Montgomery advertiser., 1904-08-26

of last Friday of about s6 bale or $500 trading contract. Toward the 10 points under profit taking by scat tered longs. but was finally very steady with August net unchanged and other positions 10 to Is points net higher. Sales were estimated at 650,- 900 bales. There was nothing. in the news of the afternoon to- explain tbe advance which was attributed entirely to the running in of another large speculative short account.
 H. B. BEER COTTON LETTER.
 tBy Private Wire to Loveman & Col
 New Orleans. Aug. 25.-Bad as the ket was even worse, traders experienc ing 20 points fluctuations within five minutes. So cratic and nervous was its condition. that the further advance of 35 points today was the work of American -manipulators, is best demon strated by the fact that Liverpool at one time today was about points lower than last night, or about 10 points lower than what was expected, kets closed the English market about points higher than yesterday. The technical feature of the market is the financial ability of parties in control to
 
 after publishing Of the September bu reau condition report to be published Friday. September End. It Is probably a part of plans of longs to crowd such a covering movement might make a market on which longs could unload and take the opposite side of the mar. ket after publishing of the bureau re- port. which Is expected to be sufficient ly bullish to sustain values until greater portion of the new crop find; its way to the ports. As far as crop prospects are concerned. information than last years, except Texas. Tn this particular State. advices from the Southern section Is to the effect that the field in that district will be no in the central portion of the State viii be about 10 per cent larger than last year, while the more northern counties are expected to furnish about Is per if realized, would only provide yield of about what The Galveston News allowed tn present conditions, say about 3,300,000. It Is the news from Texas that has caused the recent ad vance. reports being so bullish as to make longs become aggressive and for all Europe, which depends upon the Southwest for its supplies, to become | uneasy over the situation. Very hot weather s now complained of in Texas and reports to hand predict further de | terioration In event of a continuance Of an average temperature for the Gal | weston district of 95 or higher, which has been the temperature of the past l forty eight hours.
 | LOvEMAN & CO.'S COTTON LETTER l By Private Wire from Miller & Go. New York. Aug. 25 For the fourth day in succession. new high level has been established on the present ad- ! vance, Sentemhpr sold IT O1 OCtn Der at 10.92. January at 10.86, and the | market closed within 6 to 10~ points of l the top. At one time there was gen uine bear panic little or no cotton of 1 fering. and prices advanced 30 points | before the spurt was checked by 1he sales of some longs to take pronts l The short interest Is not being reduced as one could expect on such a sharT CTS come in at every advance, and takc i the place of those who close out. The result IS that fuel is being added to the fire, and the task of advancing receipts and predictions of much | larger movement have no effect upon the market. An estimate that Hous ton would receive during the month oi absolutely disregarded; first, because even this amount will not be sufficient to meet the requirements for August shipments. and, second, because we T contain something like 25,O00 bales oi rejectiOns. threshed cotton, etc. which I have to be moved out from the com press points before Septembe l, so as paid from the small towns into tho | compress points. Owing to the char | acter of this cotton, 1t might as wei | not be in existence. for 1t Is of no use | their August and September engage. | ments. We are likely to have nervou: and excited markets between now and bureau day. next Friday. September read at 1:15 D. m. on that day. Until l then. notice day on September contracts will be next Monday, August 29. If nc | tenders are made, or if made and stop | be bullish. On Monday the weekly weather report will be published.
 Virgin & Faunce's Cotton Letter.
 [By Private Leased Wire J. Walter Le. l baree & Col
 New York. Aug. 25.-Cotton openet weak this morning, due to the favor able weather conditions and failure oi Liverpool to follow our advance of yes
 terday. The next crop options were New Orleans houses. After the frs, few minutes the market steadied or | renewed short covering, and some 1ul support by Wall Street. On the rally sentiment mixed. We have repeatedl, pointed out that the one possible factol l which could cause a rise in the cottor | market al present was a crop scare ct an over extended short interest. Tha the short interest has become unwield.
 ly was evident by the sharp advance ir
 the market during the last two days | This interest is now practically elimin
 ated, and technically the market Is 1T
 weaker position now than ii has beer
 for some time. If the higher prices
 continue. cotton will be attracted her. the South will be materially increased
 It is reasonable to suppose that l
 spinners refused to buy at prices lowe l they will not relieve the market d present prices, when a 12,500,0 900 bal
 crop is in sight and conditions justif!
 lower prices in sight, and cotton shoul'
 be sold at present prices on all furthe | rallies.
 G. F. Price t& Co.'s Cotton Letter.
 (By private wire from Gilbert & Clay | New Orleans, Aug. 25.-The Liver pool market was distinctly disappoint
 ing at the hour of our opening, a re
 suit, as reported in cables of Ameri
 can and continental selling couple, l with the existing smallness of tn | short interest. Later cables becam l much more optimistic and a good ad vance for the day was observed. Tn | worlcd's requirements were considere
 to be too great and the sufflciency O
 supplies too uncertain to warrant talk
 Ing liberties on the bear side, and
 permanent advance was cited as al
 expectation. New crop options final
 ly gained 3 points over yesterday
 close and spots 10 points on sales O
 5000 bales. Manchester reported tha