Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-09-09
The World of
Finance and Trade
NEW YORK COTTON
SURPRISE AT FAILURE TO AD-
VANCE IN LIVERPOOL.

ono was surprised at the failure of Liver
pool to advance even a point or two after
the fireworks here yesterday. the number
willing to sell cotton was 30 small that
prices opened about where they closed. The
steadiness In evidence was explained by the
buying of October. It will take some time
for traders to conclude whether there Is the
possibility of q squeeze In that option or
not. 1t IL generally believed that an extern
sive long interest OF a concentrated kind
exists for Wall street account This may
or may not be true. but the belief that 1t
Is helps the market. With the south look
ing for higher prices and the crop mod
crate one, as compared with last year, even
the bear Ia not inclined to short October
cotton. To the buying Of October was due
the rise when shorts started to cover
While there is plenty OF cotton coming in.
prices here have not been high enough to
attract cotton in this direction, and until
October gets high enough to invite opposi-
ton a repetition Of the weeks market 10
expected at any time.
This morning October opened at 1851 and
1882 and then advanced sharply to 1888
with very little cotton for sale. The stead
mess in October Influenced the entire mar
ket, so that prices recovered readily and
the market itself showed no weakness
Though the visible supply is three times
last years, the amount of new cotton COM
Ing in has not yet assumed the proportions
lures An important item this morning was
the Bradstreets' figures on the growing
crop. These pointed to yield of between
10, 800 900 and 100000 bales, rather than
8 100000 or 10000 600 bales as has been
talked. There Is a tendency now to in
crease crop figures. though this may be re-
versed at any moment through smaller re-
ceipts or bad crop.
The Chronicle weather report was as FOL
lows:
"Advices indicate that rain has fallen in
most districts and that the precipitation has
been moderate. Today's advices show the
drought has been broken in portion or
that state. In some districts in Arkansas
and in the gulf states there are complaints
of rust, shedding and insects. and in others
an Improvement in cotton Is noted. Pick
Ing Is progressing very well and cotton Is
moving quite freely"
Dry Goods Market.
The dry goods market is reviewed In part
as follows:
while the cotton goods market main
tains its strength, and even higher prices
are generally looked for in the near future,
business has been somewhat less active dur
ing the week, the decline In raw material
causing buyers to act with caution. For
spot goods the demand continues as insist
ent as ever and premiums are willingly
paid where 1t Is possible to secure goods
for anything like reasonable shipment. A
ness Of certain houses to resell goods pur-
chased some time ago. but even the PROS
pect OF being able to secure good profit
Is not sufficient to induce many to part
with their holdings"
Bradstreet's says: "Advices would indi-
cate that the relatively good condition of
Y per cent indicated by the government on
August % has not been held. Further de-
terioration, due to drought in Texas and
Georgia and to insect damage not hereto
fore cutting much Of a figure has reduced
prospects In these states and In Oklahoma
and Indian Territory. Picking is active
and marketing of the crops has gone on
quickly. Reports from southern sources In
dieating crop OF o, 100000 bales do not re-
celye credence in leading markets. Con-
sentative estimates are that present indi-
cations point to a yield Of between 10 200 =
600 and II .0OO, 600 bales
The worlds visible supply Of American
cotton Is now SIC 900 bales. against h41 oOO
bales last year. 41s.OOO bales the year be-
fore and 800, 900 bales in 1902. The amount
In sight so far this month Is 24, 600 bales
against $4,000 bales last year"
Liverpool Cotton Market.
LIVERPOOL. September 0.-Closins
cotton: Spot. in limited demand; prices
seven points higher: American middlins,
fair. 600; good middling. $40: middling.
500: low middling SAT; good ordinary.
500: ordinary. BIB. The sales of the day
were 5000 bales, Of which 500 were for
speculation and export and included 4.4OO
American. Receipts. $4,000 bales incIud-
Ing 10000 American. Futures opened
STEADY and closed easy: American mid
ding, g. o. c., September. $50 September
and October, 5.53: October and November,
o.56; November and December, $50; De.
cember and January, 5.62; January and
February, o,o4; February and March. 5.66:
March and April SOS: April and Nav
D,t9! Nav and JuDe 70. luna opA T,,,1,