The Montgomery advertiser., 1904-08-17

to the real situation Crop accounts have been so uniformly good up to the first of welded 70 the short side of the market and 1t will take more than a week of unfavor- able developments to change public opinion as regards present condition of the growing crop It is not unusual for reports of de- terioration to be circulated during the month of August. As matter of fact, 1t is the most critical period In the life of the plant, weather extremes generally caus- ing shedding of a most serious character, in some cases throwing off of blooms to young bois taking place. One good feature about the crop was the high average in con- dition of health last month, it leaving good margin for possible deterioration. which now seems to have overtaken the plant In Texas Is not so much matter of rust and shedding as 1t Is of destruction of crop by Insects. principally the boil worm and weeyil the former having in- yaded every section of the State and doing considerable injury, whereas last year at this time 1t was only commencing to appear in northern counties and up to even date of that year had done but little damage. Speculation. however. appeared to be insuf- ficient, to sustain present level of values, unless, perhaps. crop accounts become less favorable. in which event markets would become active Buyers are departing for the interior and exporters are Hooking to the ports. and every preparation Is being made to handle the crop with more than usual dispatch. Receipts of new cotton are scommencing to show up in large volumes. Houston expecting about 1900 to 1.5o0 to- morrow. against about 13 last year: Gal weston about TOO to 1000. compared with touched lowest ebb to be reached this sea- son, and with suppiines at inland towns will probably increase from now on. Against traders will have heavy receipts of new crop to contend with. the effect of which may cause a comparatively steady market for little while to come.
 LOvEdAN cos MARKET LETTER.
 NEW YORK. August 1s.--Spot business in Liverpool this morning was small. sales only 1000 at points decline. Futures there opened about as we closed yesterday and showed no disposition to take the lead. being content to follow our market. There was a good deal of selling pressure here during the. early morning. but when this was exhausted prices promptly steadied. The weather map was not exactly as fla vorable expected. since the showery con ditfons continue to some extent in the Caro- linas and Georgia delaying the ardently wished for return of dry weather. This caused some nervousness among shorts. CT than last night. When the weekly weather report was read at noon, although 1t was distinctly bulish. the market re- mained at a standstill for a while the gem erai impression being that the early ad- vance had discounted bad report. How ever. 1t soon became evident that shorts look printeds by the Government and throughout the afternoon prices slowly but steadily improved until e gain of 15 points was established The closing was within a shade of the best of the day
 According to the report there has been general deterioration and shedding in all sections except Oklahoma. The boil worm Is also present throughout the belt. doing damage in number of places. The boil weevil in Texas is particularly active and destructive in its ravages. covering the whole State up to the Northern counties on Red River. significant statement is that picking is general only in the extreme ly southern portions of the Gulf and At- lantic States. and Texas only in the south- western part. This means that August re- ceipts win fan short of early expectations and may be insufficient to meet the demand from exporters. who have sold freely ahead for September during the month of August. It is just possible that there may be ac- tive competition under such circumstances for August receipts having a bullsh effect on the market. Bradstreet's and Chronicle on Friday will in all likelihood confirm pri- vate accounts of deterioration and thus keep the shorts in anervous condition We rather incline to look for a better market as the result. Liverpool is due to come to higher. <