The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-03-03
THE COTTON MARKET.
Cotton HlEher-Bullish Ginning Report
Causes Buying.

Nee
The features were Mr.. Prices bulllsh state
ment Of the ginning up to February. Is, heavy
buying by certain interests here and In Liver
pool, the sales of 80, 900 bales on the spot at
that market In two days. the light estimates
for Houston and Galveston to-day and re-
ports of a good spot demand at the South
Room traders opposed the advance, but
their opposition went for nothing g, and before
the close they were swept along with the
current. Spot prices here were advanced
10 points, but at the South they showed little
or no change. The present crop movement
is about on the same scale as two years ago,
when the crop was only a little over 100000
bales. The foreign spot trade is brisk. Man
chester is active, and as already stated the
reports from the South about the spot trade
are bnllsh,
As to the speculation here. 1t is in the aggro-
gate on a comparatively small scale. Mr..
tele graph that he was bullish on the market.
II not he, then somebody, else was. Tor one
firm alone purchased so heavily both here
Philadelphia h and liverpool bought here.
New Orleans sold to some extent on the rise.
to IS shows mSs 8 st sernrfe' there harS1 may snb be a recTudese
cence of bullish speculation. but 1t Will not
be brought about by one days advance Or two
II will nave to be persistent and well sus-
tanned II the outside public is to paw any
attention to a market WHICH In the last
few months has so bitterly disappointed it's
Miller 4 Go; said The feature Of the
be consid smaller than expected.
The fact that only os, 900, bales have been
ginned SINCE the first Of February is accepted
Except in portions Of Texas. Mississippi
and Arkansas, which supplied 50; 900 bales
RI Rase ede on S" fRe fruTes before Gee US, an actual
growth of 10. 400. 600 bales is indicated and Il
commercial crop OF 1900 600 Is looked for.
a commercial crop Of II 0 600 or over a
bullish Interpretation Is put upon the report
abroad, and cables further state that the
discussed. There has been buying Of a
f fSn SsT a sSTt It ON Would e 5ar seem sG ss II fs so@s msW
interest is accommodating. a line of lon gs.
There is nothing in the situation to suggest
diate future, but should bad weather inter
vene, a bull party already intrenched would
have an excellent opportunity to force prices
The total amount in sight to date is still
running below all the five past seasons.
fsures are 5000 below the 10000. 900 year.
1884, 900 below the 1927 600 crop, and $4,000
below the Sr oI9 Of Md 10 ssI Zoo L u 1891 81 v,o,s,t
and Ge fernie w we're M baysra' M FsSearsshi ea nGaen,
springs, Sorden and Allen sold
Dick Brothers d co. said: Theodore n;
cotton ginned TO February "a at 10, 1855 900
bales. In this report it was stated that
AS much as two months ago, bales were run;
ming IA pounds lighter than last year, and
with a further falling Of at the end Of the
weight will show a further decrease. Assum-
ing that Mir. Prices figures are approx;
Monid G Got run 1t m loGe' than rs n ' 10 'o5 ye 600 Bales 6afes
measured by the standard of last years
average. weight. As the figures represent
he n trn nrpn thANE nnnnnN hA
given otherwise than a very bullish CON
struct ion. as recent estimates have been
T FYi5 : al The the mo TRy H t9ot e th IL, S Tie ;SoO for 6al tse
improvement in tone was very marked and
prices closed steady, around the top at a net
= S'V every ~ factor Just tt at present is
working in favor of higher prices. There is Il
strong and urgent spot dsman both Df hGTe
and finding interior prices too stin and holders
stubborn they .resorted 70 the larger markets,
where ya1s H oq 1Sis TS Sle h hs6Gs Sott Nsr was 0Tlea for
and lately New York have been stripped of
desirable grades. Trade in the cotton goods
been unsettled owing TO the decline in raw
material. we believe this is but temporary.
months while forward engagements on drills,
s%heetings and ducks extend to the middle Of
November and beyond.
bearish element that speculation at present IS
apathetic.. The market has just that much
more. solid a basis to work from, Last year
demand, was active and a great bull market
was built upon this basis. We reallze that a
STSR aasf 70 n or ms gIS d S estent. Il. e sS.m thone fSp tSe
resultant shortage be very small. On the
other hand, al increasing consumption that
crop damage would not cause a loss OF so, 900
arouses little interest. Yet in the end the sus-
tanned advance n is qlways greater in the latter
indicate that the commercial crop will be
more than 10. 100000 bales. Against this
sumption W III run from 800 900 TO 800 900 bales
more than last year"
Cotton on the spot advanced is points.
Middling ll.l0c.. against 7.75c. last year:
Sales. ass bales for spinning and 100 delivered
% En iehsT ~srs u%ne chan cd ' New S oriesns lo spot
Mobile i911ey Savannah 10 7otoy Memphis
200; Savannah, 900; Memphis, / $50.
The receipts to-day were as follows:
Port receipts. 2o.2si 1881 i,eoa
The total movement at the twenty-eightp rln-
cipal interior towns for the week was az follows;
TN, Week. Last Week. Last Ysar.
Stooks......... 57o,i0i 607,0,? $50, si4
Estimated receipts:
Houston. .... s Ss,sIs .sc Lag a.7 Ss'"' La" f ISIS
Salveston.:. s'SS-tSCO tIs7 ioei5
New orleans. f,oUO-b'JDJ TbSJ f,fJ7
The total exports from the ports were IS. $50
bales.
Futures advanced Is to II points and closed
very steady at about the best prices OF the
day, with estimated sales Of $50. 600 bales,
Prices as follows:
Highest. LoDea. Closing. Pref. Close
h hsy'n ...:. 1877: 49, 1873 %lS SssioS 1871 lS. sps siS.s ::
S SSsSss ::fSS & i$s f I$:ss siS.S5 (. :s f$ff$s:
Futures in New Orleans were as follows:
Opr9. High Lou- Clos Pre-
ing. EST, est ih0, Close
March."..... i9@ 1851 1902 1914
May.,........ lO12 lOR lVG lUbO 10t!
July....,..... 1888 1927 1884 1925 lO.T
In Liverpool spot cotton declined s points
Middling 5.7sd., against 4.l0d. last year
Sales. 1000 bales; imports. 1000. Futures
declined 5 to, Q points. but recovered part
closing as follows:
March April. ...... SD S@ So
MAY June. .., ,...''a.12 5n -
July August. .,..-.r5I0 BIO 30
September. october 500 5S 40
CHICAGO CLOSING QUOTATIONS
A. A. s ca 6; = T. IS e ys:,,EE,s .s & gt 4 4
4: c Sc s. !, i ri \; Ss r. IS Il IL
Boz Boafi, 80 Pa Nat csrb pr ,iia iss