New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-12-04
CHEAPER COTTON.
Price Falls on Government Report
of ICE, 900 Bales.

Washington Dec. s,-PreIiminary returns TO the
chief OF the Bureau OF Statistics Of the Depart
ment OF Agriculture show total production OF
cotton in the United States IN the year 19Oi-e Of
1als2 600 bales Round bales have been included in
this estimate and reduced TO their equivalent in
square bales. The estimate does not include lin
tiers. The estimated production by States VIII be
made public on December 8, at II a m
In the preparation and issuance of the cotton
report Secretary Wilson gave a demonstration Of
the precautions taken 10 prevent advance informa-
ton leaking Representatives Burgess. OF Texas
end RansdeII. OF Louisiana. were invited by the
Secretary 70 witness the preparation OF the esti-
mate. The party was locked in the private office
Of the statistician and Ire reports IRON an me me
doors we're locked from the outside and the Secre-
tary then gave orders for the opening Of the re-
then prepared and sent cut before any person in the
ra , was pern1ltted TO leave it or communicate
estimates are invariably made" said Secretary
vent leaking Of information"
The announcement the New-York Cotton Ex-
change at HIS O'Clock yesterday morning of the
record breakng government estimate of 12.l62oGo
bales as this years cotton crop caused a violent
decline OF 80 TO 10 points in the active futures. on
very heavy selling The market had opened from
10 20 Y points under Fridays close. the weak
Liverpool closing. and during the first hour of the
short session fuctuated In nervous way. Few
operators had expected the estimate TO show much
more than 100000 bales, and mass Of selling
orders from Liverpool and the South had been
risced in the hands Of brokers for execution II
The figures should exceed i. 200 bales. When
Superintendent King had uttered the word twelve
the rush TO sell began. amid tremendous excite
rnent- Just before the announcement of the re-
port the trading level SAT cents for January.
ESQ cents for March and $40 cents for May. Five
minutes later these positions were selling at $50
$50 cents and &2s cents, respectively. repre-
sentIng decline OF so TO 20 points. Covering by
the shorts at these levels caused quick rally of
p points. but later che announcement that the
occurred. December and January selling down 20
cents. March TO SIS cents. May % cents and
July 10 s35 The total sales for the two
hours Of trading were estimated at 100000 bales,
most of the business being done after the
nouncement Of the government report. Prices
closed 30 10 50 points lower than Friday repre-
senting net declines for the day of from 81 so to
Of two weeks ago January. 1s5 points, IS 80
bale March LIS points. or s. 90 May, I59 points.
or 81 IS q bale.
The estimate of 1850 600 bales as the size of this
years crop, which may be increased as much
300, 600 bales when the report nters is published,
compares with il.25soe0 bales in 1895 the record
crop up TO the present. Last years crop TO-
s74 600 bales.
The Official close OF the cotton market yesterday
was barely steady. at q net decline of 50 TO 81
points with January which had closed on Friday
at $3.50. quoted at Sc, and March at s.20c. The
business was enormous, and in spite Of additional
wires secured for the day by of the houses
there We're many orders remaining unexecuted ser
the close Of the market. This. II was said, led to
q considerable volume Of trading in unofficial
way after the noon hour. Quotations these
transa ctiOns. far could be learned, ranged
within about points Of the closing figures. March,
st reported sold around Sic.