New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-07-03
COTTON PRICES SOAR.
BULLLSH CROP REPORT.
Ouotqtions Highest at This Season
of the Year Since 1876.

FoIowtng the publication of the governments
,norr Yesterday noon. estimating the cotton crop
:. - oar cent which was much more buIlish than
,ad been expected. by the bulls there was
= stampede OF the bears IN the pit and brokers
- over one another in a rush TO buy cotton at
,-,osr any price. Within minutes after the
,r1blca5ion Of the government report the price
Id Jumped 20 TO 40 points, or 81 % to 81 bale.
7, continued 70 advance, and at the highest
,,oirr of tie afternoon showed q net gain of from
3 10 g points for the different options, or from
-TIesa prices were about % points or 81 a bale
tieIer than the previous high records made a
-rCrrh ago. and the highest prices reached for
cotton options spot cotton at this season O6 the
,,sor since 1876 There was some reaction in the
last hour. due 10 profit taking by the bulls and
outside longs. but the close from 43 TO 81
rofnts higher than the opening prices.
owing The favorable weather that has pre-
vailed since the last report. which estimated the
crop AT 705 il was generally expected that yes
,er5avs report would show an Improvement of five
- civ rruts in the condition of the crop The re-
49, Cor She same time last year was S3S Theo-
do-e n Price who IS one of the leading bulls
90 -har tne government report indicated a crop
If 5000 bales. and added that he was more than
ever confident that his prediction Of l-cent cotton
,,,ord he realized. Other bun traders estimated
cron Of from 100000 TO lo50000o bales. while the
bears said the figures indicated a yield OF l2O00-
PRIOR 70 the publication Of the report there was
moi much feature the market, which opened
tod II an advance Of points 2 decline a.
, points The new crop options of course. showed
mo greatest change on The report October jumped
from i - 70 1I95. then 10 r. and finally sold up
- 2e7 a nar gain Of 80 points. December rose
rom II Is u 122- and January from IlS7 to u IS
The other months We're less active Only trade
VIZ made in The July option. which AZ an ad-
vance Of j. points. The August option from
II qq 10 128. while September advanced from les
20 1z5 The close was as follows. July. l2.46 Au-
c-lst z %: September. l2l4: October, l227; De-
cannher Z q. and January. 1887.
The previous lowest condition Of cotton on July
/ as shown ~ the government reports. was II g o.,
when me estimate was 75S per cent The actual
IRON that year about 100000 bales. but the
acreage vas about 6@0aNO acres less than was
Tlanted this year. 4 crop OF that size would be
much too small TO meet present consumption last
wears crop 13350,0lo bales.
New Orleans, July 2.-Imnediately following the
reading q the government condition figures on the
Ao0r If the Cotton Exchange, October futures ad-
vanced 90 points. while prOportonate advances
were made in the July December and January
options.
Of The Bureau Of Statistics Of the Department OF
Agriculture finds from the reports OF correspond
ems and agents Of the bureau that the average
condition Of cotton June p was p as COMPARED
With 2 on May .. 1907 S33 june ,, 1903; - at
the corresponding date in 1865 and ten-year aver
age Of s. 2 -,
The following table shows the condition on June
q Of this year and Of the preceding year, with the
respective ren-year averages, also the CONDITION on
Wav q 1867: