The sun. [volume] (New York [N.Y.]) 1833-1916, 1907-05-19
THE COTrOy MARKET.
Prices Advance sharply. TheH Reaet-Bad
Crop Reports --WeHther Favorable
-T4eayY Linufdnfion. A .

Heavy Liquidation. =
Bad crop reports and a trumpet call from
/ New Orleans bulls, who put sOctooer up "a
points. were the leading features. They ofa.
prices here up sharply, especially on the new
crop. Then came q sharp setback. Ihie
was put down to sell by Theodore Price and
other prominent bulls. Some had an idea
that leading interests would be glad to see
lower prices for q time. However this may
be there was certainly very heavy selling both
here and In New Orleans. HRbersham King
sent out an almost Rlowingly favorable crop
report. and this had some effect, as he has hit
tie results ver1 we'll for q couple Of years.
He says that 9s per cent. of the belt has been
benefited by recent weather and that the crop
In Texas and the southern half Of the belt is
actually twenty days early. adding that
crop prospects are decidedly moro favorable"
Liverpool was closed. but the South. Wall
Street and the West all bought. It Is q bigger
market than 1t was q while back and the
swings OF prices will correspond TO the In.
creased size of the trading. All depends
upon the weather. II good, prices will proba"
bly, sag: II bad, they will very likely begin to
soar again.
Theodore II. Price said: There are few
who will have the temerity 10 sell the market
short in the face Of a Government report
that will probably indicate the lowest con-
dition on record. and may suggest q crop OF
much under 100000 bales; and so far as
the immediate present Is concerned. the de-
pletion OF American supplies goes on apaoe.
The stock of cotton at all the United States
po2rts last eyening was only 5000 bales
1denutiyy held in the Expectation Of much
higher prices. One hundred and seven
thousand are on shipboard not cleared and
dalton OF contract deliveries. There re:
main. therefore. hardly, more than 100. 900
actually AVAILABLE for the u6h9 of the trade.
ward Is daily decreasing and only comes for
reaotions which the market Is having as It
reaches from day TO day higher levels are
i tSs sRsr only us e 20 healthy S sIi. PiTHsr sond sHE%ad
L Il s e 10 cent. cents Z d pSpn SIn and probably "a /. much 9ai
ipred prevail unlnterruptedly. from now to
'h &e end Of c shs sTSTi9 Bss sssf9n Hutton. sieden.
buyers. Messrs, Craig Dick, ,Norden and
Shsarson we're sellers Price interests are
, 4. German house. said: A. the growing
publish sentiment is practically restricting
such circumstances any features. tending
On crease a seh n sor esnss' snd the iSsh pS IS 1af isr g de- IL:
S %estbefE. 0 OF SonPss' VIII fhs be IS't ts sish All pf not rhe
poets would undoubtedly Justify the eI.
peotation OF q short yield, resulting in a
season Is still ahead OF US and therefore
conservatism seems advisable in commit
ments to the bull side. at prices marking the
season OF unprecedented consumption. The
favorable condition OF tho
goods trade has not changed in this country, |
while reports Of a slackenlng trade In Europe
are becoming rather more accumulated.
The thoroughly manipulated condition Of
Nha nj rAatNrNna In TNor~1 .-I NJ |
York should prompt conservative operators
to abandon trading In these deliveries and 10
their attention to new crop months"
The statistical position as made up from
the Financial Chronicle Is as follows:
THIS week. Last Week. Last Year.
Visible supply go. 4.<56.i& 1850, ISL S,a71, 7SI
OF which American 8.OtS,iN S.i7e.s6i 2,tae,7M