The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-06-28
THE COTTON MARKET.
Price Brokers Big Buyers TO Cover Spot
Interests Also Buying -Prlces IN.

July was not such a terrible affair at New
Orleans after all and bulls plucked up
courage partly on that account, thouyh
there was a good deal OF buying by Price
brokers as well. The New Orleans notices,
1t seems, amounted to not more than
1000 or 1909 bales, whereupon July in the
Crescent City bounded upward in a way to
set bears thinking. Besides, Providence,
r.. j.. Is advancing wages. big spot interests
here are buying steadily and there is a sus-
picion that the market is short for Southern
IL local shorts ha We greatly reduced their
lines. There was a good deal Of covering In
both crops. MIR. Price seems to ha We been
short Of July and to have bought that month
hea Willy Of late. and also October and Decem-
Der. while he has made large sales OF spot
cotton and 1t was rumored Yesterday had
other large transactions under way. The
stock here under the circumstance Is OF course
steadily decreasing and II is now down to
very nearly the sa me figures as those Of a
year ago. Some time back there was a big
excess over that of last year. The specula-
tive faw In the cotton situation are the
rather disappointing Liverpool advices,
spot sales there being light. the absence Of
outside speculation and a large number Of
bearish crop advices which are being received
by various firms. The general belief is that
the crop as . whole Is looking well, and that
any advances In prices from time to tinns
must arise more from the OVERRIDING ~
the short side than anything else. although
the consumption Of cotton througho out the
world is admittedly large, howev yer tired the
bears may be Of hearing about n To-
morrow come the July notices here and
next Tuesday the Government report. Both
may have no small effect on prices. The
July notices may. II is supposed, re ach 10. ooo
to 10000 bales. As for the Government
report. both sides claim It in ad Vance as some
thing likely to favor their interests. The
crop Is believed TO be looking we'll. but a big
crop Is needed and June conditions are NOT
conclusive one way or the other.
T.. A. Mcintyre d Co. said: The faiIurs
OF this marketto show any material wea kness
as a result OF the break in the drought together
with the bullish developments above referred
TO ENCOURAGED considerable buying for local
and Southern account, and the sharp manner
evidenced the sold out and oversold condition
OF The market. We do not look for any int.
deliveries on July contracts in this market ."
HH M ! we're Pfbi Sssr. NorTd sI.;r MaGIsdden and
Lehman and Bache were sellers.
Bartlett Frazier and Darlington said:
The sttltide of spiGlers on this decline in
that these interests are among the hret 70
crop next season, and, the fmprobab5filEIpfss
produce. enough cotton to ca use anv material
decline In prices. II is our opinion, Judging
from the constantly decreasing visible supply,
ana while there may be fluctuations the sreu,
ment looks to us to be on the bull side Of new
Cotton on the spot was unchanged. ,tidd,ino
lo,Soc;. against a.o0c. last yea. No SALES
Inc Southern spot markets were generally
e orleans and Mi? Mobi ffe,Tiostl .s.' s%v;a n 1ib'eG ~, New
The movement W as as follows: