The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-03-10
CHICAGO CLOSING QUOTATIONS.
THE COTTON MARKET.
Prices L0wer-Cables Disappointing Spec
ulatiOn Dull and Narrow.

The cotton speculation was still for the
most part a narrow board room affair, al
though there was some Southern buying at
times and spot interests were supposed to be
max ing purchases of May on a fair scale.
Wall Street people who sold pretty freely
on Thursday were buying or the decline
and some OF the wire hou SEES also bought on
a moderate scale.
The spot business in Liverpool was not
so large as of late. but the fact Is worth re-
membering that recent business there has
been on an extraordinary scale, and that
sales of ~ 900 bales (such as were reported
Yesterday would ordina rily be considered
large. The spot situation. taken as n whole,
is regarded as bullish rather than otherwise
But the dullness Of the speculation and
the fact that dry goods houses are beginning
to cut prices 10 some extent initiate against
Bull operations. whatever the merits of the
situation. Meantime. however, the con-
sumption continues on a large scale and the
statistical position is beginning to take on
an aspect more favorable to bullish interests.
a. o. Brown & Co. said: "The visible
supply is decreasing more rapidly than II
was a year ago. This fact is beginning
TO attract attention. Indeed some 20 so
far as TO insist that the supply at the end
Of the season is likely to be very small, as
a result of a world e consumption of Ameri-
can cotton unparalleled in the history of the
loil phSih'bS It'NWNt1 lHs may De.
it seems reasonably clear from present ap-
pearances that the total consum ption for
the season will consider6 bly, exceed even
The large figures of last year. The question
is whether the supply viii! he adequate or
Inadequate TO meet such a demand. As to
this il heems clear 10 many that some of the
large crop estimates current early in the
season will have to he abandoned. Instead
Of II 900, coo bales. which believers in lower
prices have been look ing for, many of the
advocates Of better prices are pinning their
faith on not more Than l0.?0o 600 to 10, 800. 900
the crop movement will have TO be very
large from now on, whereas it ia only about
as we have seen, The crcn was only a trife
over i0,00o. 900 bales. The buying power
of the people Of this country was seldom
greater than il Is to-day. favored as almost
prosperity in trade" With, his and a very
PROSPEROUS condition of the cotton goods
mills. everywhere would have good times
for the rest of this year at least, And as
seem that they are in favor Of a rise, for two
reasons; q Ist, because The decline IN prices
per pound and by the mere law Of reactions
in markets ii would seem that an upward
second, because there can be little doubt
that within the last month or, six weeks the
s snSP tlr interest inssss !" the M %Seast has sd Sesn sty very
people are en- listed on the long side, be.
%lievinE that The purely. commercial .condi-
vance, II is noticed, too, that the market
begins TO resist pressuredrom bear sources"
Meyer 4 Go: and Messrs, HagedSrn' Rich
man. Norden and Lee bought.
Miller Il Co, said:
We are confident that most mills have
protected themselves against their years
requirements for the very sensible reason
tho futura bnt We haliaya TINT tho ~, liz,
of them have contracts with merchants and
importers to furnish them the cotton at stated
at the mills proper may be much smaller than
estimated. Indeed we know that a great
portion Of the port and interior stocks in
way, while probably one-half oil the Liverpool
stock is under, contract to be delivered to the
The tIrst new influence therefore which
the market will be called upon to face is the
census report of cotton ginned to appear
that this report will demolish all the II 600, 600
crop estimates and forecast a commercial
cannot be considered as other than builish,
and il accompanied by wet weather, delaying
new crop. preparations may be made the oc-
casion of a bull move against the short in
t~erests. which at present are very large"
Cotton on the spot was unchanged. Mid
Orleans and Gulf, ii Soc. against s.isc' Sales.
$50 bales for spinning and Loo deliyered on
S Ssatoa. 10 i ssysnne New soS o1Issns. ii 10 is- Ssl;
Mobile, 1OAc.: Savannah, 1850. Sales: Gal.
weston, 40 bales; New Orleans, 200: Mobile,
100; savannah, $3.50 The receipts to-day
R Rs.4 F;s CIT: o.. 6 Co. g. A 80: s. l'' y 81
The total movement at the twenty-eight
principal interior towns was as follows:
p.,.,,,, TA!s %ssk' Las ssst. LuIsea.:
sse sRs 49,: ,.::: 49, i s4s;I% s Si:sS.
Estimated receipts:
Houston ..... s'sSS"s!SSS l; s'a s''1' 1o''s. ss;
SsIye osf.s N. s,sSS-s.sSS tSss siss
baifthse' total exports FRO" the ports were ~ '''
Future. declined u to V points. closing
S 6stesY t Prices s as fo HsSaasa'eo sales OF 100000
NJ. ..": 1i So "a % 81 'iss' S:s!;'!Si i f iS:s;;ss5Iss%:;
Sssss.: 49,. I ISss IS.si i5 IS $T$ss I I$:si $ s3$ +
Futures in New Orleans were as follows:
Open HIGH Lou. clos Prer.
S Hi;:a: :: Il: 49, 49, f fi$ 49, 81 i i & i iSi:
u Liverpool spot cotton advanced ? points.
Sales, 10000 bales; imports, s,ooo. Futures
advanced ! POINTS. but lost / to > of the rise,
fraap r~"uy.soy. Last y,o,,
E 49,; $ g.: :s. .,. 4;