The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-04-01
ENGINEERS
THE COTTON MARKET.
Decline on Liquidation and Bearish Pres.
sure.

1t was a slim speculation. and the fuctua-
lions were on a corresponding scale. Srill
they led prices 10 a somewhat lower level
in spite Of bullish weekly statistics. an advance
in Liverpool, small estimated receipts az New
Orleans, and Houston. some covering and a
certain amount of bull support.
The bane OF the speculation is the continued
Indifference OF the outside public. Still here
were other things which operated agalnst the
bulls, namely. better weather at the South.
more or less scattered liquidation, selling nv
Wall Street and selling by New Orleans and
the South partly against actual cotton.
Still the bulls profess confidence IN tho
soundness of their argument and there was
no evidence Of any particular liquidation by
in1u entail interests. Tit statistics for The
week were certainly OF a kind TO encourage
a bull, whatever may be said about ther
having been discounted.
The loss In the visible supply Of all kinds
for the week Is some 1875. 800 bales. or nearly
sevenfold greater than the loss during the
same time last year. The decrease IN the
visible supply OF AM rican IS nearly $4,000
bales, or aim ost ten times as much as during
the same period last year. Splnners tak!ncs
week last year, although there IS deficit thus
far this season in their takings OF some 10000
bales.
the operators who has been credited with
being a leader in the present bull movement
and supporting the market at times denies
the responsibility. 1t seems 70 me that Ger.
tain other well known operators would 90
the same thing. For all OF theIe GIentie9;en
of ~manipulative tactics, and the contortions
that have been noticeable IN the cottoG mar,
TO any leader Of experience. 1t is self-evdent
that the market has not only been persist
emily supported and manipulated by =, some Trn
The market has been lacked up 10 tease
The public, but the public has leaTH1ed some.
hands. The .manipulators have bid up ono
month to, sell another, but md mat ra,heF
slST the EoT X sid S9T lola Ide th ma6 bss. is People eo Z T SS6
days ago. had killed. pu6fiiSc interest are food.
naturally, ask themselves when the bear
manifestoee will be resumed: ~ one aas
any confidence IN The sin cerlty OF the PTeSsHbb
hiSher during the next six mon ths, It could
easily sell below ten cents IN TIE mean tSpie.
turns good and the bulls have TO liquldate
q fS,s each seh. Ssh we're T csss ssf 6 STG the f % ed f iiaai 9SS:
ton Of congested speculative long interests
Just such rs the one that exists to-day:
advise the outsider TO play the new crop
months on weather conditions and let the
'bull-bear' bear-bull, spectators churn the
su me st mqnies up Ppo shf aoS as made de'u up p'f from
the Chronicle. is as follows:
This Week. Last Week. 1905.
Visible supply. ....4659.s7 tIeS54+ a24sim
OF which american - = 'iSi's sa sySS.S!t ,S9GG5S9Sddss
cane S..I into u, sight during 1856. ssl 1879 as7.a
Miller & Co. said: The new month will un-
doubtedly settle the question OF a good or,
poor start for the crop aud promises TO be
full Of Interesting Developments An I'M,
preston prevailed that the short interest Is
not large enough TO permit Of much advance
but the continued scarcity of the better grace
and frmness Of Southern spot markets, IS a
lows us from. day, 10 day; Manchester Is
doing we'll, aud trade conditions here are sat-
isfactory. with more improvement in dry
goods as the result Of the higher tendency -
raw material. The future ofthe market hangs
in the doings of the clique until the weather 10
a greater factor, and this will be the case from
.-Messrs. Price, Weld. s%iedenburg and Mitch
ell were buyers. Messrs. Norden, Wilson.
O'Dell. Allen and Latham were sellers
Dick Bros. a. Co. said: The developments
for the week have been bullish. In the hrst
better than expected. Demand is still good
and farmers are sellin G. sparingly. Southern
mills have not supplied their. needs ana are
bidding above a New YORK parity for desTaple
lots in their vicinities. It would probably he
considered foolish TO contend that there VIII
weather conditions have been so unfaNorah!e
that the outlook for a substantial increase 8
growing less encouraging from a oearlsh
standpoint. The season thus far in the East
ern belt points to a moderate acrea re and less
favorable agricultural prospects than Tor sew
eral seasons past" ,,,
Cotton on the spot declined S points- Mid.
ding II csc, against S.l5c. last year; New or
leans and Gulf II. 9oc., against S.4oc. Sales
l,4A4 bales for export.