The Montgomery advertiser., 1904-06-28
H. A n nErR.s CorroN IrrTER.

(By Private Wire to Caldwell. ward 6 Co,
 NEW ORLEANS, June 27.--Failure of lantic States had stimulating influence on all markets today. Liverpool closed to 10 points higher for futures. and spots hsse ws5s sss. aTosS Se %.ss trade review denoted more business doing as a result of the lowering of prices for raw cotton, China taking more of the higher and the Levant was reported as expanding. The turnover in yarns. however, was said to be below the average. According to advices from Liverpool, English operators were talk ing advantage of existing difference between the foreign and American markets. buying here, selling at Liverpool at about HE steady, about 10 up for July at 1o.72, about s points up for new crop months. 9. 46 for October, part of which was lost in the early hours on predictions for showers east of the Mississippi rrver. July falling to 10.6s, Oc- tober to g. 40 Noon forecast, however, was for a continuance of dry weather in eastern belt. There was more doing in spots. mar ket closing firm at advance of to II cents for middlng, sales, 4,500. to arrive 100. There was evidence of some short cov- report tomorrow than what was published last Tuesday. Texas complaining of boil weevils. Arkansas and the two territories of too much rain, the east Gulf and south Atlantic States of a lack of moisture. Prominent bull operators supported mar ket by bidding for old and new crop posi-
 
 s.ss Stocks at American speculative points diminishing rapidly. New York and New Orleans about 75.0oo less than same time one year ago, which will probably be made to figure 100, 900 by middle of July. New Orleans losing for excess of about 25.0o0 when compared with last year, there hav- ing been a good spot demand for export are for showers west Of the Mississippi riv CT. fair conditions for eastern belt, just the reverse of necessary requirements and until thnr fo r1fu iV,N har conditions n m favorable reports likely to continue. With the closing of Friday, we will have entered the holiday period. and in advance of same one side or the other will probably even up to a greater extent than the other. We are not to lose sight of the monthly bu- reau report to be published tomorrow week. crop of about 13,e00,O00 bales by showing an average condition of 90 or better.
 Caldwell, Ward & Co.'S Market Letter.
 NEW YORK. June 27.-Manchester re- ports a good business in the Far East and the supply of cotton on hand in Liverpool is by no means as plentiful as spinners might wish In fact after allowance is made for the thrashed stuff and the accu- mutations of long staple cotton, the stock of what is called bread and butter cotton or good workable qualities is very limited. The mills would all be working full time now if they could get the cotton to spin and it is probable that the average number of working hours is now about 50 hours per
 
 months. This means an increase in con sumption of 10000 bales per week and as there still remains about ten weeks of this season before new cotton will be available in quantity. the consumption will show an increase of 100. 900 bales for the balance of the season. Weather conditions are not as perfect as some of the shorts would have us believe. The continuance of rains in Texas, Oklahoma and Arkansas where dry weather is badly needed and the dry hot days in the eastern half of the belt where rain would be a great benefit, leave some thing to be desired in the general condi- tion, but the real strength of the situation lies in the large accumulated short inter est which the near approach of the Fourth holidays combined with the stubborn resis tance to further decline is making shorts decidedly nervous. American markets will be closed from the evening of Friday till the following Tuesday and conservative shorts will probably try to even up rather than take chances on bullish developments in Liverpool while our markets are closed. We do not believe that an advance at this time be permanent. unless accompanied by a decided change in the present crop situation, but the short interest is large and there is plenty of room for a good advance between now and July 5. Liverpool is due to up on old and Az up on new.