Evening star., 1905-10-18
The World Of
Finance and Trade
NEW YORK COTTON
CROP ESTIMATE OF EXPERT I'M
PoRTANT FACTOR TODAY.

Special Dispatch to The Star
NEs| YORK, October 1S.-The important
factor in tls cotton market trading today
was the announcement of the crop estf-
mate of Miss Giles, the young woman ex-
pert.
1t was bullish and had the immediate eff
feet Of strengthening the market about 13
or Ii points over yesterdays close The
estimate which she gave out was for 10,-
100000 bales, or exactly the same as her
preliminary estimate of two years ago at
this time. when the actual crop turned out
about 100000 bales less. Her report places
the present condition at 81 per cent, against
664 per cent last month and 72 odd last
year.
Bull Interests Satisfied.
The report as a whole was more salts
factory to bull interests than was the H.
500, 600 bale estimate of a well-known firm
about week ago to the bear interests
BY a good many traders 1t was believed
that the report would toll the knell OF the
present low level of prices, which is nearly
cents below that of the summer during the
Texas drought. 1t was thou that the
report was an excellent opportunity for the
renewal of bull activity.
On the other hand the opinion was ex-
pressed that the discrepancy between the
two estimates would tend to keep sentiment
unsettled and still dependent upon the at
titude OF the south, the receipts ana the
appearance on absence OF frost
Whatever the ultimate effect or the re-
port the strength attained by the market
during the morning was not big enough 20
give any indication that the bulls hao SIN
cerely taken the market In hand. After
recovering Its 13 or IA points II was un-
able to hold. Buyers were disposea 70
alize rather than to hold their cotton Tor a
further rise and q good many local pIoies-
sionals wished to continue their tactics OF
selling on bulges- Shorts OF yestefuay eos s
cred a good deal on the rise and tne out OUT
side buying was of better charactef tA"it
recently.
Cables and the Weather.
Both the cables and the weather helped
the market today. Although the tempera-
lures were a little higher. there was more
or less rain in the cotton belt, and the pre-
dictions In different sections We're for more
rain and colder weather. The receipts'
however, showed Improvement.
The market opened to points up. jan
nary onened up at 9.15 and advanced
to 9S2 cents, its best during the "a mornlis
session. March opened up az ''o' 0e|- 0e"A'-
and advanced to 996 ceRts.
liverpool due about points lower, opeheo
quiet s points lower on near and lower oll
distant months. At 12:1a o'clock 1t was het
to 4 lower but steadied up aiesp pse she tos"
opening to about it's yesterday close.
The Houston receipts for tomorro" aI0
estimated at 1900 to 1900 bales. as com.
pared with 10000 bales last week and s'''o
last year. o-uo,,,
The New Orleans estimate for tomorro"
Is between 1900 and 5000 bales. as COM
nsred with 4O37 last week and l6, aSo iast
year port receipts for today are estimated
at 3S 900 bales. as compared with 4.o37 last
week and 16. .430 last year. ~
During the late morning tradins me me
shorts who had been covering. finding the
MARKET would not hold began to sell snort
again causing prices to sag about points
January declined to 9T4
In the afternoon the market ral!ieu
strongly under a renewal Of bull ACTIVITY.
The buyiug appeared to be on large scare
and shorts were driven into cover again. :. -,
January advanced to 9.eo cents, or z
points up from last nights close, recover
ing practically all of yesterdays break.