The Montgomery advertiser., 1904-07-20
Sc; 81 3 !. {; 8: s;::'; MO7HERS
;s. .s. s; s:.:.. ,s, s.. ire: FRIEND

ton has continued to take rapid growth
throughout the cotton belt, with the excep-
tton OF Texas, which has been construed as
meaning that all States with the exception
Of Texas have continued to improve.
since receipt by the Government of re-
turns from its correspondents seasonable
beneficial showers have visited central and
southern Texas, light showers in the more
northern counties where rains are wanted
most. while rains are reported from scat
tered points in the State today, also in Ala
hama and In Georgia where a general rain
would be of much benefit. So far the crop
has done exceptionally well. is well culti-
waited but for grassy fields in sections of the
east Gulf AMI south Atlantic States, and is
said to be fruiting nicely and opening in
southwest Texas. Galveston received three
new bales today, Houston expects one to-
morrow. and offers of a 50-bale and 100
bale lot. deliverable in New Orleans the first
week In August. we're made by south central
Texas planters today, indicating that pick
Ing Is now going on in that section of Tex
as Almost every feature coming to the
surface is OF a beartsh kind. yet shorts
have not the courage OF their convictions
to offer the market down. fearing manipula-
ton OF summer months, which is possible
out not probable, would influence new crop
positions to higher level. what little un-
easness was displayed this afternoon was
brought about solely by the few offerings
OF new crop cotton, which would not amount
to drop in the bucket IL spinners would
readily absorb early offerings, but II is a
question IL they will. When near the close
the market advanced from 8 33 for Deem
Der to 9.42. shorts fearing to trust Liver
pool with SO small stocks on hand and so
little at New Orleans and New York
Caldwell. Ward q Co.'S Cotton Letter.
NEW YORK, July 19.--It is well known
that operators are bearish almost to man
based on the remarkably good prospects of
the growing crop. 1t was naturally thought
therefore. that with Liverpool closed and a
dull market ahead 1t would be an easy task
to break prices on this side. which might
convince Europe that IL Americans were
content to depreciate the value of their
own product there must be a very strong
reason for II. Whether such plans were
laid or not II was very evident at one time
that such an attempt was made to cause
q break below 9hc for December. but the
closing at practically the highest point of
the day shows how futile this effect was
The weekly weather report was by no means
unfavorable. in fact 1t may be considered
as considerably better than expected. 1t is
true that complaints were recorded of
grassy conditions in the Carolinas Miss
issippi, Louisiana and Arkansas, but the
simple statement tnat weevils have done
very little damage in Texas more than Off
set the effects of the excessive moisture
In other places. Still, as we said before
cotton did not go down, or rather after GO
ing down few points 1t rallied and closed
three or four points higher than yesterday
On the basis of our last prices Liverpool Is
expected to come in two advance points on
near months and three the new CROP
The dispatch of a powerful British fleet TO
the Red Sea to stop illegal seizures by Rus
sian cruisers opens up possibilities of inter-
national complications which may have con-
siderable bearing the worlds trade in
general and of course on cotton prices No
disturbance. however. is anticipated.
G. E. PIERCE q co.'s. COTTON LETTER
(By Private wipe from Gilbert & Clay.)
NEW ORLEANS July 19.-Cotton suf-
fered slight setback at our opening this
morning. There was news from Liver
pool, that market being closed on account
of a holiday, due to visit from the King
Trading us on small scale and the dispo-
sition shS by shorts to cover was slight
ly in excess of offerings, causing slight
gains to be temporarily observed The
weekly weather report had very little effect
on values and may be said to have quite
fully confirmed private advices which have
been the basis of opinions The complaints
and grassy fields were well understood TO
exist. as well rain requirements in Texas
ere long The rainfalls reported in that
State today nullify to some extent the i'm
portance of this grievance, II It be one, for
1t remains an open question which will give
the best results in the present stage of the
plant, rains and an excess of boil weevils
no rain and diminution of ravage. Fear
ing engagements of such complaints as the
report noted, no fresh selling was induced
The declines in English consols and French
ing from Russia's recent actions In the
Red Sea were viewed with little concern
and reports of the still unsettled labor diff
culties in Fall River met similar recep-
ton. In fact, no class of news seems to
have bearish effect and bullish informa-
ton is SO scarce that 1t hardly meets with
credence