The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-07-29
VIOLENT COLLAPSE
IN COTTON PRICES
Market Near Generalization
Over Rumblings Of War
in Europe.
EFFECT ON T. s. EXPORTS
Restriction Of Buying Power
Likely to Weigh Heavily
on Market.
EFFECT ON Z. s. EXPORTS
Weather for Cotton State

r. Nor.h Carolina, probably fair to-day
ari N morrow, moderate north winds
For south Carolina ana Georgia local
'hunds,sh'wcrs to-day; fair tomorrow.
isA' N moderate variable winds
70 Florida, local thundershowers to-day
srl '1-morrow; Hight to moderate variable
plrl.
ro- Alabama ana Mississippi partly cloudy
to-day. FAIR tomorrow. moderate variable
Winds.
For louisiana ana eastern TeSa. generally
f.ir 20. iay and tomorrow; Hight TO mod
s-.,s vaI.ahs winds
For Western Texas generally fair day
and tomorrow.
FOR oklahoma Tsnnessee and Kentucky.
generally fair to-day and to-morrtw.
For Arkansas, generally fair to-day and
so-norrow; not much change in Temperature
Cotton was excited and irregular YES
,rday With trading at times ap-
g7oaching tho border OF decentralization.
here WAS no news that was not war
news and the weather advioes and crop
complaints from tho South were passed
by unheeded- The announcement that
AusIia had declared war on ser,ca. COM
Mned with Gerrnanys refusal to Join in
re mcd,atory conferences proposed by Sir
Edward Grey. gavo color TO an uncon-
frned report from Berlin stating that
Russia had declared war on Austria
The market was in such an excited state
that IL was prepared TO believe anything
for there was no time to obtain coniir-
nation.
Liverpool showed hesitancy about re-
spending 10 the strength which the New
York market developed late Monday af-
tsrnoon a sagging tendency developed
soon after the opening yesterday and
this Was not checked by a rather bullish
weekly weather report from Washington.
which reflected rather more deterioration
than has been reported recently. Drought
complaints came from parts OF the Caro-
rnas and Georgia, and the recent IA rs
m TEXAS and oklahoma were character
'Led as inadequate both in area and Co
plousless
l. is but natural that general war
n Europe should be regarded rs intensely
h.ar.sh IN its effect on cotton. particularly
a this tine OF the year If the va scare
had come at the waning Of an old season
instead OF at the start of a new season
isss attc',.un might be paid to II. Tho
rev crop, however. is nearing the time
when 70 must be moved 90 market. Pick
iHg Will begin in southern Georgia and
will be- fairly general In southern Texas
rth'n the next ten days. Europe IL
'f- hes. customer for early cotton. our
exports 10 Europe, even II the crop should
be p, more than 1000 600 ba.cs, would
he % excess Of S.OOu.OU0.
With a general war involving England
Franco and Germany. tho rates for mari
mo Insurance would 20 sky high. and
Eu-op" would not only be afraid 20 buy
Iu' exporters would Ice afraid TO sell The
ONLY purchasers under such circumstances
would be American mills and Japan and
china, with such scattered demand as
might com, from other sources Cotton
hills even now are going begging and
hoy would hc particularly unstable .u
'ho event ~ q general conflict. II seems
cutie ilNclF that American spiunCrs would
hold IN n their buying OF cotton until
'hov feel that prices have reached rock
bottom even under warlike conditions
Th' or course Is painting tho outlook
80 black IS possible, but II is just such a
contingency that will govern buyers of
cotton w1i.e the martial spirit prevails
N Europe
The cotton trade will watch with
great interest the attitude OF Liverpool
mis- morning, and IL the foreign news
should taho a trcn for the better sharp
rallN would occur, rs the market Is short
" tho political horizon IS stil more
clcudy, however 4 would he very dlffl-
onlt FOR hullish crop news 10 cause an
advance 'or the present.
Futures.