Cotton Markets See Mixed Signals on Consumer Tone
General cotton quotes show weakness with bears outweighing bullish crop expectations as reports note consumer attitudes. Prices eased 16 to 21 points, indicating cautious demand.
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Newspaper
Atlanta Constitution
Location
Atlanta, Georgia, United States of America
Date
Aug 02, 1905
Page
2
General cotton quotes show weakness with bears outweighing bullish crop expectations as reports note consumer attitudes. Prices eased 16 to 21 points, indicating cautious demand.
The weekly crop summary notes some improvement in cotton condition across Texas, with rank growth and poor boll development in Oklahoma, Arkansas, Louisiana, and Mississippi. Alabama shows deterioration, while Georgia reports rapid fruiting with variable rains and pest issues. Tennessee, Carolinas, and Florida show little improvement, and South Carolina remains uneven on clay lands. The New York cotton market closes barely steady after a mixed session influenced by bullish reports and Liverpool trends.
August market notes show spot cotton easing amid 400 bales on contracts, futures weak and prices drifting down after initial gains. Reports split between bearish crop data and later government figures sparking brief rallies, with overall losses near 15 to 18 points in late positions while the market closed quiet. Dry goods volume cited as large but prices uneven with some advances for prompt delivery and a cautious, unsettled trade outlook amid mixed industry signals.
Greene Consolidated Copper, fourth largest world copper producer, shows rising prices over 12 months from one to present levels and strong dividend prospects. The company is expanding rapidly, with vast ore reserves and high monthly production, yielding substantial annual profits and a large surplus beyond dividend needs.
The six month statement ends January 31, 905 reports net profits of to 688,900. Massey ore body extends 1,060 feet with new cross cuts and faces remain ore, estimating 11,360,000 tons of ore and a director conservatively valuing the ore body at 50 million dollars. Greene Copper prepares to sustain 25 years of production with 3,000 tons daily capacity, while market observers note 80 price support and strong demand from major buyers.
A dense list of bond and stock figures shows multiple U.S. and regional issues with varied prices and yields. Notable entries include Denver and Rio Grande, Reading general, Southern Pacific, Union Pacific conv., Chicago and Alton Sigs, and Baltimore and Ohio 3 percent. The data reflects broad trading activity with certificates, coupons, and new issue standings among railroads, utilities, and banks.
The Liverpool market showed quiet demand with prices easing. The Port receipts and daily open, close, and futures figures are noted along with U.S. interstate movements and inland grain activity. Cotton selling pressures appeared from bears while large operators manipulated levels leading to liquidation. Futures closed steady after a day of declines and mixed performances across grains and provisions.
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