The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-05-27
rHE COTTON HARkET.
Irregular. narrow changes ii,erpooI
Firm weather Favorable weekly sta.
tIstlcs Considered tBulIlsl.

The situation was still Irregular. MAY nd
vancinE slightly. other months declining q
ttinp. Tho business was too small 10 call
for extended comment. Liverpool was bet
Ter than espcosei and Egypt was said 10 be
buyine there. The statistics for the week
were bulllHh and tho prosperity Of the cotton
goods industry In New England u sufficiently
attested by the fact hat the dividends paid
by thirty.four leading mills Of the Fall River
section for the first half Of the year have been
$40 per cent or over double the amount paid
for the same time last year. This will ex-
plain In part why sone OF the mills In New
England ara voluntarily increasing wages.
Meantime everybody. IL waiting for the
May deal TO end and the June Government
report TO appear. There seems to be quite
a large short interest still remaining in May,
strange as that may appear at this late day
ularly termed pyTot eChniCs in that month
before il expires. Then will come the June
report, Meantime nobody, is disposed to
The weather at, the South was favorable.
Needed rains fell IN Georgia and elsewhere
in the Atlantic SECTION Of the Selt;
lock may have clouded over somewhat owing
TO the uncertainty as to the outcome Of the
report on the acreage and the condition OF
the crop. 10 be issued on June 4, the under
pinning Of the market seems, in the main as
firm as eyer for 1t ,p is stu u me fhs enormous onIn3oS
that the worlds consumption of American
cotton has been overestlmated that II is not
likely 10 greatly. II mt all. exceed that OF last
year, when it was II .soo.o 900 bales. but while
some extreme estimates may have to be dis
carded. we think that 1t need occasion little
surprise II IL should prove to be something
like IL. 900. 900 bales at least. and not inlprob-
ably It may turn out to be more than That II
we may Judge from the indications Afforded
by n careful study OF the general situation.
The reports. for instance. from Lancashire
are very generally favorable. and the un-
usually early breaking OF the East indian
monsoon, or, In other words. the beginning
Of the rains which are SO necessary to the
food crops Of India. seems 70 assure to that
thickly populated s%uarter Of the globe pros
worlds markets merchandise Of all sorts,
voluntary ]inerease n the or wSs sbo q several f.,en raj
spinners was. in itself. significant Of the
prosperity OF the cotton eoods-trsde on this
side 9f the WatsEi n but nine fns r 9ahen a of TIVE Ts f hsa
in the action OF numerous cotton mills In
Connecticut, employing, In all some 10000
10 per cent Then, too, the rapid decrease
in stocks OF raw cotton. despite, the fact that
the crop movement Is larger than expected
over 1000. 900 bales. is another indication
OF the enormous consumption. which II seems
unwise TO ignore, The plant certainly has
10 July and August. when In reality the crop
is made, and II would be strange, indeed,
altogether unusual. II no weather 'scares
ejaculation. We believe in caution for The
time being. or until the May. deal and the
Government r SICiTto are re out Won 81 t smsS Tsy' m 1T.
chases with the view OF accepting profits or
any suitable nptu5n,r An.
and sledenhurG were buyers. Messrs, Car
penter, Norden and Moore were sellers.
ia. McIntyrc h CO. said; The leading
bull interests while maintaining their position
have been more inclined to let the marke
| shape its own course and take care. Of itself
They are sttll in absolute control Of, the Ma,
| 81 July as a hedge, which option in turn Il
held principally by foreiGpers and large New
situation and outlook as more favorable oil
the whole to the bull side of the market rathe
than otherwise: The increase IN acreage Q
revised estimates is not likely TO exceed
nor cent. on the outside In. next month
fer mTV IN" Whole Sresdth Is somewhat late ant
the necessities for a large new crop are. be
coming more pronounced from, the continu
a contirued good demand for the bolanc'
| Justified by these onsideration but sustain
expectations of some further appreciation
in values. The good rains which have fallei
in various, sections IN the cotton belt. wher,
moisture has been badly, needed the pas,
trader. but It must he remembered y they
had not occurred great damage would hav'
ensued, and the realization OF a large croI
ence Of the most favorable weather con
| ditions from now on throughout, the month
OF June. July and August. For these reasons
we would rather advise adherinR to a scalper'
position on the bull side than favor shor
| sales"
The statistical position as. made up from
the F,noncidl Chronicle Is as follows:
THIS pesk. Last meek. LdSf year
11sIhle suppiy ..,, $50. $50 9,07l. 7A $3.50, 20
| or which American :. ?.SA5ss 2Sso7st 2nlS'7H
| Cppin sight 70. .lo'oei'oS5 s'eso'o'S il's'o'H
Came Into sight dur 1880 $685.
ing week. ,.,......,, 1S,l2o lla,7ss 1881
Cotton on the spot was unchanged. Mid
dlinv. ii ooc,. against s.60c. last year; New
Orleans and Gulf, 10 $50. against s.sjc.. South
ern snot markets were unchanged. MiddllnR
Galveston, ii 7-Iec.: New Orleans. II 5-t6c.
Mobile, IKE: Savannah, II 3-l6c.; Charles
ton, II slice,
The movement was as follows:
Lost Las