The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-03-29
THE COTTON MARKET.
Bulls Give support and Prices Advanc,
Weather Bad.

-HeAtneT bau.
In the popular parlance OF the day the hull,
In cotton held some strong cards. such AZ
higher cables. heavy rains In the Atlantic
and Gulf states, reports of a backward season
for crop preparations east Of the Mississippi
River. continued light estimates Of the re-.
ceipts at such important marts as Houston
and New Orleans, continued ACTIVITY or iirn,
! ness I'm the spot markets of the South and
| Liverpool. favorable trade reports and an
increasing demand for the May option which
finally put 1t to a premium over July Of 10
Besides spot interests. were buying. soma
Wall Street houses made purchases and IN
the hon g 1fst To nG some se exte 9rlea and sf the Bulls I" faaSSesi
the music and gave support pretty much all
day.
| the figure, and that was outside public interest
in the speculation. The. absence Of that
really strengthened The band OF their oP;
may appear to have been. 1t was noticeable.
too. that toward the close much Of he early
advance Of 8 points In May.
Weakness IN New Orleans. partly due 10
on the curb. Knother source Of weakness
was that not a few local operators, including
; sS%s ny Vail st Tist Re BsGaP sS;s Msr to ddHs2 :sol +;
petered out very p%erceptibly in ne end ara
It is not an unreasonable contention Of tie
sdySGss Of "f fu 1Hye a t Hf1fes or !s s. a OF ha az" a T' ySrr
must have Disappeared, thereby removing
IT must be said for the leading bulls, how.
ever, that closest scrutiny of the transactions
during the day. failed TO reveal any important
! selling on their part, but on the CONTRARY
indicated very plainly that they were EiNinH
The bull leader continues to issue a good
I deal Of bullish literature conts ming arCn.
ments in favor OF higher prices and crop r''
ports. which. seem TO show that the season
however, are decidedly sceptical as 70 The
feasibility Of adSan nsm : su mnGh n fnr' b,
outside, trading, to give 1T more life. snap and
theodore II. Price said: "Practically everr
bale of spinable cotton remaining out OF this
year,, crop is, in my opinion, directly or in.
directly under contract to spinnerS. That
portion which has not been directly bought
by splnners is under contract to them through
! sales to ~spinners either Of fall, cotton or Of
future shipments. Meantime, the prospect NJ
an increased acreage next year is sensiblydim
labor Throughout the South makes plantnGan
Increased acreage difficult a., best. and, with
the recent rains and cold weather ne difticuIty
| see no reason for any decline in the mar
ket and every probability that the strength
much higher prices. In fact. the market
seems to me now in a more secure position
than I was when a cent g pound lower a.,
4. o. Brown & Go. said, What with firm
and active spot markets at home and abroad.
the multiplying evidences Of a large con
sumption, unfsvorable weather a. the South
and eastern sections of the belt a dim inishins
crop movement to Texas points and also TO
entail spot interests and the evident lnten.
ton OF prominent operators to give, support
to the market, it seems reasona6ly clear th rss
,indertone OF the market may be considered
firm and such as to warrant purchases on
from 81 time 1ne s se 'ims as Mn a results nn,it' Of rsssIi1ing
But as the speculation is admittedly very
largely OF a professional character We believe
Messrs. Price, McFadden. Trutchfeld, Se-
denburg and Hudson were buyers, Messrs
Dick, Norden, Gwathmey. hentz and Moore
were sellers.
Carpenter. Bageot & Co, said our private
advices from different sections Of the. hcl' are
not favorable. but rather state that IN" hHavv
are continuing this. week and preventing al
crop work. In addition 10, checking The
part Of the belt has been prepared and fer
tilizer put in the ground. so that these wash
inE = re- ms II dor Z great nS IT. dana lama &c zen in p p"d ~ nam. tTT
instances it will ha We to be renewed. Missls.
sippi, Alabama, Georgia and south Carolina
able feature that the general trading public
are not actively Interested in this maLhc'.
II seems TO be more OF 2 professional amer:
h'n " Wv Nii c,hu ''''N d'l' ~, 90 -
evidence of further advance we had though,
there would be a larger general Interest w
course after an advance of 100 points there
may be q. recession at anY time, but condi;
tions at the moment are favorable 10 a hui
market and to further advance. and v" would
favor buying on any decline. buying oH 4
scale up. React ions in the far or ueH trnn
months Will not be so great as in th" nearer
options. and as weather conditions ha.oN"
more and more u factor ID tn" situa' zen -
the October and December options VIII de-
velop. strength"
Cotton on the spot was 10 points HIGHER,
MiddlinR, ll.s0c.. against s,ojc. last car
New Orleans and Gulf. l2.05c., against 5 goo
No sales. The Southern spot markets "H's
generally unchanged To sc. higher lh" 90
ceipts were as follows:
Yescridv. Last Trrt F7FiN',
Port receipts ...... 'ls,OO 1899 So!
Augusta '.,..,...,, 2Sh - 81,
&emphlS ,..,,,,.. l.Th H0la ",
81. Louis, ,..,, .a66 'I"' .
Houston,. -, ...... O.. 4,5li 49, '''
ESTIMATED.
The movement at the thirteen prlnr1a' -
terror towns vas as follows:
Yesterday. LdN Wrrk, i'.' ~.
Receipts. ...,......l 1928 ioass ~
Shipments ......... l2.57S 1859 nv
Estimated receipts;
TO-DAY Las Wc'r ~''f,.[.,,,
Houston ..... l,s0n2 .S0 ?H7 -.
Galveston, -. 5.5OO-6.JOO 600 -,
- FA aA