The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-02-10
COTTON BREAKS AGAIN
CENSUS BUREAU CROP REPORT
CAUSED HEAVY LIQUIDATION.
suIly Supported Market Early, but He
High Point 125 Points.

NEW YORK. Feb. 9.-The cotton market
opened firm advance of 1898 points on
moderate bull support and covering following
frmer cables than expected and apprehension
that the Census Bureau report would not prove
as bullish predicted.
After the opening there was slight reaction,
but Sully supported the market all weak
spots. and by the middle of the forenoon the
active months were 43G57 points net higher.
March selling at 1890, May at 1435c and July
at Ia &c
Toward noon, however, reports circulated
that the Census Bureau reports would prove
disappointing from the bull standpoint and at
noon prices had reacted to within to Il points
Of last nights close.
Then the crop report read 1t showed
that s,S59.277 bales had been ginned TO Jan. Is.
or, counting round bales half bales, 9, 46o, 53l
bales. The bulls had been predicting that this
report would show below 9.2O 900 bales
Instantly prices broke and inside of few
minutes had lost nearly lie a pound, counting
from the best of the morning and net 20q -
10 ioc and July 1S.45c At this level the local
bull leader started buying the shorts turned 10
or 10 points of last nights finals, while July.
Mnlch mad gone down ITO points in two sales al
New Orleans, recovered 80 points.
Later however selling orders came in from
out-of-town as the report spread through the
coming sensationally weak and active in the
late trading, when sentiment was 1ntiamed by
reports that financial institution In Bremen
was in difficulty, involving, ii was rumored, i'm
portant American interests.
March. under the influence OF this scare, sold
down to 1267c, May TO 13c and July 10 1860.
The close, while steady to tone, at prac-
ter of 25d92 points Sales were estimated at
| 900 900 bales.
The decline here from the high point of the
morning was between 125 and 1873 points on the
three active positions Receipts were light, con-
| tributing the early firmness, but exports were
| light also, and the report of the Census Bureau
seemed TO be considered a very bearish factor,
| even at the decline which has taken place dur
ing the last week.
I That amounts TO practically 4iAc a pound
since the high point of last week, to-day's de-
cline having carried prices about points lower
| than the previous low point of the downward
| movement.
MANY MILLIONS GINNED.
The cotton ginned from crop grown in 1903 VI
to and including Jan. 16. 1904. is given by States
| and Territories follows:
Alabama. 1O2O59 commercial bales; Arkan-
sas 664 40; Florida, 51174; Georgia, /. 307, 1863
| Indian Territory, 299. 566; Kansas. 55; Kentucky
| 563; Louisiana, S26. BIG; Mississippi, 1857. 3s9
! Missouri, 81 239 North Carolina, 54l, 14S; Okla
| homa, 1911 O95: South Carolina, 1885, IA; Tennes
| see. 234 914; Virginia, L., 255.
In the report issued to-day account has
| been taken of linters obtained by the cotton
| seed-oil mills from reginning cotton-seed. sta
| tistics of such cotton Will be included in tbs
final report Of this season, which will be ISSUED
| about March 3. The final report will give
| weights Of bales