The sun. [volume] (New York [N.Y.]) 1833-1916, 1907-06-09
TIE cOrToN MARKEr.
July Advances Sharply, Then Reacts Mod
crate Rise IN Later MOnthS-NeAther
Fair, but Showers and Cooler Pro-

July Advances Sharply, Then Rescts-Mod-
crate Rise IN Later Months -Neather
Fair, but Showers n Cooler Pro
dlcted.
July again took the bit In lie teeth and ran
up al so a bale further early In the day, ana
though much OF the improvement was lost
before the CLOSE, yet the developments we're
not OF a kind calculated 10 inspire confidence
In a bear. Rumors that q large amount OF
the local stock will be exported to Europe
were again In circulation and were not without
their effect. Spot interests and local ana
Southern shorts were buying. A moderate
advance tool place in the next crop months,
owing to the rise In July. local, wall street
and Southern buying. covering OF shorts
and unfavorable crop reports from most sec
tons. Rather more cheerful accounts came
to hand from here and there In the belt. but
the great bulk OF the crop reports we're still
thereyerse OF favorable. The weather map
was again about all that could be desired
showing fair and warm conditions every
where. and az one time prices reacted inc
setback, however, was only temporary.
The prediction was for showers ana co9ler
weather for most States, and this togetner
s Misn SeTe tome to- to he market later on ,Ex-
66s sfssns T, Of a sTliIsn rep pS M Ry tns also also
T. A. Mcintyre & Co. said: AS the situa-
market will continue an attractive field torn
speculation and bull manipulation, and Until
the Weathe5 conditions become become mere aSe oS SeI,ee@
are against price reactions going far or prov.
ing more than temporary. Up to the Present
crop months. but now that the crop scare
has become general manipulation by the DUH
6liaues in the old crop options Is likeiy 70 Ini be
August and September deliveries may be
forced to premiums on these operations:
who have oversold themselves end the re-
quirements OF spinners in iui1lins thea
will do we'll. however. to observe caution
against over trading, for in the present fever.
fluctuations are likely to continue so violent
and cover 40 wide r range up and down the
scale as TO require more than double the
MessTs. Norden, Craig, McIntyre, Hutton
and Carpenter were buyers. .Messrs. Hutton,
Browning & Co. said: AS the season ad-
vances the indications Of a very active cotton
market during the entire, summer become
aHent fuctustions with a general upward
movement. Could a crop Of ~ 1000 bales
every penny II Is now selling for. or course
there Is no way Of Judging the future but by
y 1ee PH impie Ina the = co 6TTrSsPeSt That GHI selling Cotton
April and May WIN be an exceedingly dan
crop OF IL, 900, 900 bales three CONTINGENCIES
must OCCUR: First favorable weather from
second. comparative freedom from weevil
and other insects; third, late frosts. FiRur-
ing on The proba bilities II is certainly reason
able to assume that one or more of the above
mentioned contingencies will not materialize.
and the absence. OF any one Of them from
ingredients OF the situation will send cotton
to IL cents"
Cotton on the spot was unchanged.
MiddlinR, I3 ?jc., against IL .2)c. last year.
The Southern spot markets we're strong.
Middling: Galveston, 10 Lice, New Orleans.
The port receipts we're I,iG bales against
1,2i? last week and 5.235 last year. The ex-
ports from the ports were 3,95i bales,
Futures advanced : to 81 points. closing ?
to 9 higher with the tone steady and the
estimated sales leo, 900 bales. Prices as