The Montgomery advertiser., 1904-07-12

than we have been accustomed to receiving
this season. The Liverpool market was
IL down on old crop months and spot cot
ton, and about 6 off on new crop deliveries
Spinners showed signs Of being willing to
increase their tahsne. al concess ons offered co
sales being increased from 1000 to 10000
bales. which created a demand for con-
tracts, near months recovering all Of the
early decline. going to 3 points higher
than Saturdays closing. while late months
advanced to within point of the closing
OF last week. Cables stated longs were in
control OF the situation In the English mar
ket, their position being a strong one, that
so per cent of the stock was hedged with
contracts. that mills were running full
time, q large business is being done at Man
chester, where spinners are under orders
at improved prices until December and were
heavily committed and short. philadelphia
was also reported to be buying summer
months at Liverpool, all of which gave tone
to tie market by influencing fresh invest
ments and shorts to cover. New Orleans
opened steady at 10.63 for July, o. 3 for
october, later July sold at 1914. October
at o. 80. Easy periods were in order there
after on kilograms from southwest Texas
promising early movement Of new cotton.
San Antonio expecting so new bales this
week. picking said to have become gem
eral in that section of the state. July SELL
ing down to 1866. October to 9.22. Stead
mess at Liverpool in making good export
differences, but stock of desirable grades is
SO scarce in local market that only 100
bales were secured at unchanged quotations.
market closing steady at 10 1916 for mid
ding. Showers are looked for in all cotton
States either tonight or tomorrow. except
in Texas, where generally fair conditions are
expected to continue. Sentiment will be in
review. and not being welded to any par
ticular side of the market, will be gov
erned by weather developments thereafter.
Caldwell, Ward 4 Co.'S Cotton Letter.
NEW YORK. July 11.-First prices from
Liverpool didsptayed considerable weakness,
the opening being much lower than expect
ed. but a flood of cables from this side re,
porting extensive rains In the Arkansas and
Mississippi valleys caused the market to
face about and created something like
small stampede among the shorts in the
near positions. One OF the accompaninents
of the heavy covering by summer shorts
was increased sales of spot cotton, which
footed up to 10000 bales. although at
decline of IL points from Saturdays prices
Whether the winter months were CARRIED
up by sympathy with the rally In old
crops or whether the advances in them
was due to the reports of too much rain
is undecided, but we are rather inclined to
think that buying by shorts was the DOM
mating impulse in all the options. The ma
nipulators in Liverpool used our market TO
bolster UP theirs and brokers identified with
the clique abroad actively bid up our prices
and supported our market until after Liver
pool had closed. when their support was
withdrawn and we have seen, prices re-
lapsed to about the lowest of the day. At
one time the new crop months were 10 TO
IL higher then, but before the close half
the Improvement was lost. August and
September are in a different class in a way
and are not governed entirely by new crop
influences retained to of the early ad-
vance of the Is points. There is some ap-
prehension over the possibilities of tomor-
rows weekly weather report and 1t is con-
ceded that mention will be made of excess
sive moisture in the Mississippi bottoms
and perhaps also in north Louisiana and
portions of Alabama. The boil weevil. too
is due for some more attention than 1t has
received heretofore and 1t is but natural
as the season advances its field of destruc-
tiveness must widen. On the other hand
however. we are inclined to think that
prices will not be much affected by to-
morrow's report Our Liverpool friends
think that the present squeeze Is a serious
one for the summer shorts in that mar
ket and 1t is possible that a successful
movement there will be more less a sup
porting influence to our prices.