The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-03-22
ENGINEERS.

sleepinR on the Government report, a good
many people decided 1t was vastly more
bullish than anybody supposed on Tuesday.
Emboldened by this even a few outsiders
bouRht'a little, though there is no denying
the fact that the speculation Is In the main
a purely professional affair.
The idea OF the bulls is supposed TO De 10
round up the May shorts and then attack the
market themselves In order to cover their
hedges put out in later months. DeductlnR
2o7, 900 bales from the Government estimate
of 10. 0o7, 900 bales, in order to allow for a re-
ductjon Of IL pounds in the average weight OF
bales, gives, after making due allowance Tor
linters and Sea Island cotton, q commercial
crop by last years weights amounting 10
o.os8, 900 bales. Figuring this way the bulls
think that at most not more than lo.2So.ooo
bales will be marketed. as contrasted with
II, 200, 900 bales or over expected by the pears.
Dick Bros. Il Co. said: Conditions for a
long time have been shaping themselves
for a strong upward movement. For one
thing. cotton sold too low and the legitimate
bullish factors were absolutely ignored.
The big spot sales at Liverpool a short time
ago were passed by as unworthy OF con
alteration, and the frmness with which
spots were held in the South was scoted
al by the overconfdent bears. The trade
outlook never was better nor mills engaged
40 far ahead at profitable prices. The great
obstacle that lay in the path to a material
The dead speculative feeling, but this appar;
emily %lifeless corpse has been Ealyapized
into . life bsll by Isssd 5ee aRP Be assress II Ms; f TifS
which he has. taken hold Of the situation
and the 6uy sd {. in ind iSssdsd Ply Slen 5hs Of PS Sinser
i2e9 a It's SSn oSpImsInati9n., AlGTesdy DE elofh
tendency, have developed fresh inquiry and
plenty OF new business is romised az the
present level; The weather in the South
&c cotton tom in Texas Viii be Injured, thus neces-
n s5ta shas lo oePiiag''nI ste a instead %ft of early Fly as Sso Z
promised TO be a short time ago. The move;
ment Is moderate and interior stocks bid
Me sS Price. Weld. siedenburg, ,Hentz.
Hubbard and Mcintyre we're buyers MessTS.
MaarsSai, Spader i Co. said: The local
spot situation ls strongsT and new crop options
counts. The market looks healthy and Ia
both at home and abroad. The market has
made rather severe fluctuations since the
highest point reached on Monday. and this
its technical strength. We rather look for
an active traders market. with an advancing
it viii require a continued small movement
lative support. We believe most operators
with serious speculative intentions Will
await new crop developments before under
taking extended commitments. Most in
f~iuenees favor a steady and somewhat higher
market"
Liverpool cabled: Our best merchants
think fayorably Of cotton and regard ginners
extremely builish. Expect great scarcity
spinners' cotton summer. We expect a further
considerable advance. Market active and
tending p ard.
Cotton on the spot advanced 20 points
MiddlinE, ii.55o.. against s.i5c. last year,
New Orleans and Gulf, II .s0c., against S ior,
Sales, So bales for spinning.
The receipts were "a follows.