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THE WEATHER TODAY . For North Carolina : Showers; not so warm. For Raleigh : Showers; not so warm. Morning Post. Ttfnpratf e ft ths pts 24 Hoars: Wairtmw, 83. Minimum. 72. Vol. IX KALEIGH. N. C. WEDNESDAY, JULY 5. 1905. No. 30 GOV. G1E N AT TAMMANY ILL Points Out Some Dangers Menacing the Country JUDOE PARKER'S LETTER Lieut. Gov. Sanders of Louisiana Urged War on Aggregation of Predatory Wealth Congressman , Sulzer Said the Senators are Owned by the Monopolies New York, July 4. As a general cus tom in the speeches heard at Tam many's Fourth of July celebration local political matters are tabooed and the national eagle screams uninterruptedly. But at today's festival Walter S. Loaran. in Presenting to the Tammany society an engrossed copy of the dec laration " of independence, departed from that custom when he casually exclaimed: "Democrats in this 'home of Democracy, let us see to it that we are in the thickest of the fight. Demo crats in this city of George B. Mc ClelHn, let us see to it that we fol low our leader no less valiantly than our fathers followed his father at Antietam." " The piolonged cheers which followed the mention of Mayor McClellan's name would probably have tempted some of thev local speakers whose 'names were on the list of "short falkers" to break loose on the" coming tiunieipal campaign had the chance een given them. There were ten aames on the list, but as the "long talks" of Governor Robert B. Glenn of Korth Carolina and Lieutenant Gover nor J. B. Sanders of Louisiana were xtremely long, the only one "of theni vho got an opportunity to speak was Congressman Sultzer. He spoke for twenty minutes on the antiquities of be United States Senate. f Tho Sixty-ninth regiment band played ntriotio music. The Tammany Glee Club sang the national songs its mem bers learned at-school, and then after the feast of oratory came the feast Xf other things from the tables laid in the basement. Briore the speaking began letters of , regret were read. Among these were one from Judge Alton B. Parker and another from Hon. Henry Gasso way Davis. Judge Parker's' Letter In the course of his letter Alton B. Parker, former Democratic candidate for president, advocated the divorce of business and politics. Judge Parker wrote: "It is an interesting fact, that a great political organization, nearly as old as our government itself, j-hould be almost the only body which celebrates with regularity and old time enthusi asm the anniversary of the Declaration of Independence. In doing this it has established and maintained patriotic .conditions of the highest importance.' Year by year, without interruption, and over a long period, your society has been able to compare past with present conditions and to mark the advance or retreats in the march of our national life. In doing so your members must have noticed the suggestion repeated again and again, that old issues ar3 dead and that as a natural result new xones must be sought. It would be diffi cult to find any assumption more thor oughly gratuitous. -. "Unfortunately we are not permitted as a people to take up and deal with new problems. We sometimes fondly assert that greed and over-government, thopo inseparable evils, are new. How-. - ?vor, the smallest reflection forces the conclusion that these perils have been Eo manifested from the earliest days of history to bring ruin to governments and desolation to peoples. And curt Dusly the relations they bear have been Bo clos that over-government has some times been suggested by well-meaning persons as an antidote to greed with the result of showing in the end that their interests and their effects are the tame.. "Thus, because greed, left to run riot, has produced some bad conditions in cities and in great corporations, we are advised, to run headlong into municipal or government ownership and opera tion. This policy,! advocated in spite f the fact that in other countries' and In, surroundings far more favorable for theso experiments than our own, they have uniformly interfered with devel opment and curbed initiative. In-other tvords, the only alternative thus pre sented for the curbing of greed is that fit rushing wildly into all the perils of 2vergovernment. The fact that, this in cipient stage of socialism finds advo tacy ought not to excite surprise. For ilearly half a century we have been preaching and practicing jt on a larger ccale than ever before tried. We have thrown greed, organized as it never was before, into an active partner ship with government. In order to swell the public revenues by one dollar, we have permitted a small exclusive grasping class to put into their own pockets at least three dollars drawn in the form of inordinate and extortion- Orange, Newark and other neighbor ate profits from tho whole body of ing cities. . consumers of every cullin.gr and employ- j Washing-ton spoke of the progress of merit. It is no cause for wonder if the negro, saying no one will doubt some of the latter have reached the that the negro in America la rendering conclusion that no formal socialism a service to the commercial world that could be much more dangerous than is many times greater than he ' ever the fiscal system which, producing rendered in the dave of his bondage. such results, grows by what it feeds on." ' Lieut. Gov. Sanders on Predatory Wealth Lieutenant-Governor Sanders urged upon Tammany that as the greatest political organization in the greatest city of the union its responsibilities were correspondingly great for the carrying out of the principles of the Democratic party. These principles, he -proceeded to explain, were to fight the "aggregation of predatory wealth" . from the bound together "to wrin; pockets of all unjust and iniquitous tributes." Sulzer Says Monopolies Own Senators f"nn?rpsTTi!!n Surer sairJ that the vu! ic ii v,o JltUUUUIlLU ViCLO V UUiU 11CVC1 crushed as-long as the United States , Senate remained as it was. He de scribed his efforts to have the Senate elected by the people." Autocratic, aristocratic and plutocratic he called the Senate. . "Every good bill sent by the House cf Representatives to the Senate," he said, "and every bill to repeal a bad law is killed by that body. They defy the president and defy the people; you cannot get a bill to regulate the rail roads or the monopolies through the Senate because the railroads and monopolies own the senators." Continuinfj Mr. Sulzer said that three centuries ago Russia had the most representative government them existing, but that it was destroyed be- cause-of the supineness of the people.!',-. T,T.Q0rit, 0 OTiMrtri in lie uointea me moral uiai umess people of this country woke up to their danger the United States senators "would establish an oligarchy worse than- anything Russia has ever known." (Continued on page six.) BARON ROSEN'S ARRIVAL Would Not Talk of the Peace Con ferenceLikes America New York, July 4. It was well for the nerves of Baron Rosen that he had been in this country before. An am bassador of the czar unfamiliar with theT American customs of the Fourth would very likely have jumped to the tune of the cracker cannonading that was going on along the Hoboken water front when the Kaiser Wilhelrn II was docked yesterday. But it was Baron Rosen's twenty-fifth trip across the Atlantic, and he only smiled at the explosions and was interested in those who caused them. Russia's new ambassador was ac companied by his wife, the Baroness Rosen, and his daughter. With them was Prince Kondacheff. The ambas sador was met by M. Hassen, first secretary of the Russian embassy at Washington, and most of the officials connected with the Russian consul gen eral's office in New York. M. Hassen went aboard the Kaiser, and the and' the ambassador had a long talk in a corner of the dining saloon. Baron Rosen was asked whether he thought the peace conference would result in a, quick cessation of hostilities. "I never speak of politics until the proper time arrives," said he, "and in this case the proper time has not ar rived." Nor would he make a guess as to what will result from the conference. "Diplomacy, like whist, is mostly silence," he remarked with .a smile. He had not heard of the revolt in the Black Sea. He would not say whether he considered the mutiny important. - "I will sav," continued the ambassa- jwas-just pulling into the siding at Val dor, "that l.am delighted to be here forjley as the Chesapeake & Ohio train, I liko America very much." , running at thirty miles an hour, round- Baron Rosen said that he had not ed the curve and crashed into the en learned of the death of John Hay until . &ine of the east bound train, the steamship was coming up the bay. Among the seriously injured were: "I knew him for twenty years and was w- p- Walton, editor of the Kentucky verv much grieved by the news," he. Journa1' Frankfort, Ky.; L. H. Fetch. said. VESPERS AT J1ENLEY Philadelphia's Eight Beat Christ Col lege, Cambridge, in Their Heat Henley, Eng., July 4. The Vesper boat club's eignt oi .rniiaaeipnia won their first heat in the race for the grand challenge cup in the Henley Re- j I Owing to many counter attractions in gatta today. They defeated the crew j a sporting . line there was a slim at of Christ College, Cambridge. The . tendance and the fighters wanted to American crew won by a lengtn, time seven minutes twelve seconas. ine wind blew up' the course rather strong ly but was dropping some when the Vespers met the Christ College crew. There was no advantage to either In the stations. Both crews rowed at 40 strokes in the j tenth the Chicago lad went in to end first minute, Vesper being clear at the ! it and the rest was a whirlwind. Her end of that time. They did not gez bort Deing sent to the floor twice. At quite so .clear in the first two minutes the opening of the 11th Ryan landed as the Leander eight had in their heat, ; low, on Herbert and his friends called but they were two lengths ahead at j a foul, which w:as not allowed by Fawley court. At 'the mile the Ves- j Referee McDonald. Herbert had a pers-led by a length and a half. The look of pain on his face when he arose Leander boat club's eight beat Jesus ; after a count of eight, and Ryan rush College, Cambridge, by one and three j ed at him, landing a right on the face quarter lengths, time 7:20. Iand immediately a left swing on the The draw will brjng the Vesper and Leander eights together in one of the semi-final heats tomorrow. Booker Washington on Chinese Montclair, N. J., July 4. Booker "Washington addressed about 2,500 per- sons today. More than 1,000 were col- tored people, some of whom cam from "Russia," "Washington said, "is drinking to the dregs the cup of sor row because of her failure to learn, that her people could better serve her in a state of freedom. I believe that our own country has a lesson to learn and to put into practice regarding the Chinese who wish to come into the United States. I believe that we will soon learn that it will pay from every point of view to give these people a fair chance. I am glad to see that isome impression is gaining ground, but i . . , , - , I wish it had happened before that Chinese boycott had been spoken of or before our conscience had felt the value of the Chinese dollars. The white man of this country has a tremendous responsibility and a tre- mendous opportunity; to him every door is open. Such strength should r.ever have been used to crush, but to uplift. There iJf no slavery more hurtful than that of hatred, whether it be of one section for another, or of one race for another; for, as is shown in his otry, in the end the op pressed become free and their oppres sors are lost." TO PETITION ROOSEVELT Canton Merchants Will Protest Against Exclusion Act TInntr Tfftnc Tn 1 r A Tho mprrhants .- . -i-,.,i4. President Roosevelt, representing the hardships) of the Chinesja exclusion treaty. Placards are posted throughout the city urging a boycott of American goods. t Native christians in Canton are being intimidated by the police. A meeting representing 20,000 Chinese was held at Canton July 1 to discuss the Chinese exclusion act. As a result the native christians formulated a pe tition to President Roosevelt protesting against the exclusion act and pointing out he hardships It entailed upon mer chants and, students. Placards Tearing the following ap peal have fcoen posted throughout Cart ton: "Let us with one heart boycott Amer ican soods." A HEAD-ON-COLLISION C. & 0. and L & N. Trains Naar Lexington, Ky. L. & N. Was Pulling Into Siding as r C. & 0. at 30 Miles an Hour Rounded Curve Many Passen gers Badly Hurt Lexington, Ky., July 4. An express train on the Chesapeake & Ohio Rail way and the Louisville accommodation on the Louisville & Nashville Rail road met in a head-on collision at Val ley station, four miles west of Lexing ton, tonight and a number of persons were injured, but' no fatalities occur red. The Louisville & Nashville train was running twenty minutes late and agent ot tne iouisviiie & Nashville; Ashbrook Frank, merchant, Louisville; J. T. Weaver, Louisville; Mrs. William. Wood, Lexington; Mrs. George Roberts, Lexington; E. T. Murphy, Chicago, and F. T. Luxon, druggist, Lexington. Ryan Knocks Out Herbert Eutte, Mont., July 4. Buddy yan of Chicago knocked out George Her bert ,cf gan Francisco this afternoon after 11 rounds of vicious fighttne-. ( caii Qff the bout. Joe Clifford, mana of the club, thpn donnterl frPP tho use of the arena and gave $600 of the receipts, while Jack Kelly donated $100 additional to each fighter for nine rounds. Herbert led the fighting, but in the j neck, which put Herbert out. Shot to Death in Ohio Youngstown, O., July 4. Louis V. Berernan was shot to death at 917 Rel- m0nt avenue early this morning by James Ivy Harbison. The latter - is locked up. He admits the shootine- and Says he is glad he killed Bergman. I GHASTLY STORY SF MASSAC Standard's Correspondent Says 7,000 Done to Death FIENDISH POLICE PLOT Mutineers Declare They Will Bom bard Russian Territory and Ships. Odessa in Terror Kniaz Sighted Off Kustenji Battleship Crews said to Have Mutinied London, July 5. The Odessa corres pondent of the Standard says: "Hitherto it has been a very partially penetrable veil which has hidden the ghastly tragedy of the nights of June 27 and 2S. At last it has been lifted and the mind recoils from the truth. My authorities are unimpeachable. "For many months past about 150 specially chosen agents have appeared from the third section of police under a variety of disguises, chiefly of artisans. They lived and labored in in timate association with the work peo ple in the suburbs of Peresyp and Molavanka, and frequented all the so- cial Democratic- meetings. These j agents knew every secret and every movement of revolutionary propa ganda. Their infamous role was played with consummate horrifying success. "The arrival of the mutinous battle ship Kniaz Potemkin was expected and gave these emissaries plausible ground for the statement that 'the whole fleet had mutinied and would join the naval rebels and protect the revolutionists there. It should be noted that none of the local police, but the third section were the secret agents, organizers and engineers of the whole fiendish plot, As already stated, the pillage, wreck- age and arson commenced in the even ing, but there was absolutely no at tempt to arrest the devastation until long after sundown. During the inter val every possible averue of escape was closed by the military, and ma chine guns were placed at every point of vantage. "I have ttHS authority of numerous eye witnesses for stating that no fewer than seven thousand people were done to death during the awful ten hours of that night of massacre. The killed outnumbered the wounded three fold. This is not surprising, the field of slaughter having been -restricted. Two the harbor, from which their bodies were recovered bv boats nnd hooks. A thousand corpses were cast into the RE glowing heaps of ruins at dawn when ! rived off Kustenji. She exchanged siig the fire had been only partially extin- ' nala wih the Russian gunboat guished. The huge conflagration was Psef uaPe in the barbor of Kustenji. made to serve as a monster crematory. I wniPh indicated that she had come Four-fifths of the dead were thhus go frorn Sebastopol, hunting for the Knaz rid of. Their ashes mingled with the ruins. Their" bones were hurrieillv packed into several hundred coffins and i , wincu iu me uuiiiiiiuii grave jam, uul only the military and police witnessed the rough interment and the grim un loading of the covered carts, the nature of whose burdens was not suspected by the people. This secret butchery, en gineered by the police, was designed in St. Petersburg as a frighhtfully effect ive method of crushing the insurrection in south Russia." St. Petersburg, July 4. The Official Messenger today gives details of the disorders at Odessa. The mutiny of the crew of the Kniaz Potemkin, is de scribed as "A shameful act. one with out parallel in the history ofhe Rus sian navy." The Messenger gives no new details, but . confirms the unofficial accounts. No attempt is made to minimize Ihe gravity of the events that have taken place. The Messenger's account of the in ception of the mutiny follows: "On June 27 the crew on the pre text of bad quality of meat brought by a torpedo from Odessa, refused to eat the soup. "By order of the commander, the crew was assembled on deck and the second officer ordered those sailors who did not refuse to eat the food to step forward. A majority of the sailors stepped forward. The second officer was beginning to write down the names of the minority who had remained in the ranks when they seized their rifles, . which were piled on the deck, and proceeded to load them. An order to fire on the mutineers was not obeyed by the guard, and the second officer, snatching a rifle from one ofTthe guard, fired two or three times on a sailor, wounding him mortally." "The mutinous sailors then fired vol leys on the officers, pursuing them to different parts of the ship. The com manding officer was killed. Some of the officers jumped into the sea, but they were fired upon and illed in the water even then, 7 millimeter guns be ing used." Pout'e Crew Mutinied St. Petersburg, July 4. The minister of marine has received the following telegram from Admiral Kruger: "The crew of the transport Prout, when leaving Budrovo Bay,, mutinied, arresting the captain and other offi cers. Second, Lieutenant Nestertzeff and Boatswain Kolitine V-ere killed. "The Prout has arrived at Sebas topol and the crew is now repentant. The Prout has been ordered to anchor at Kameseval Bay and inquiry into the affair been opened." Still Another Mutiny Paris, July 4.-5:45 p. m. A dispatch to the Temps from Constantinople says that the Russian steamer Empercr Nicolas II., which has been ordered to proceed to Alexandria in place of Odessa, owing to the troubles -xt the latter place, was unable to leav-3 Con stantinople on account of a mutiny of the crew of the Emperor Nicolas II., who insisted on going to . Odessa to protect their families. Slighted Off Kustenji London, July 4. A disp$ca to the Standard from Odessa at 11:30 today says the rebel battleship Kniaz Potem kin is reported to have been sighted 25 miles off the port from Kustenji, Roumania. The authorities evidently crediting the report, had sent a tor pedo boat an hour before the dispatch was filed, to meet and if possible sink the mutineers. The crew of the tor pedo boat consisted chiefly of officers disguised a toiren. They intend to approach the Kniww as 'friends and fellow mutineers. A number of 10-inch guns have been emplaced in well masked positions along the shore. Two Mora Mutinies Reported Paris, July 4. The St. Petersburg correspondent of the Petit Journal says it is reported that the crews of two battleships at Rival in the Baltic have mutined. A dispatch from St. Petersburg to the Petit Parisien says the f reason why the George Piebodonostseff sur rendered was that she had gone aground under the guns of a fire and could not be moved. War on Russian Vessels Bucharest, July 4. The news from Kustenji is that delegates from the Potemkin before leaving, handed to the prefect a proclamation to the powers declaring war on all Russian vessels that should refuse to join them. The proclamation stated that he mutineers intended to respect neutral territory 'and shipping, but would bombard Rus- Bian territory and ships at any cost. They had a coal supply for several days' steaming and two thousand shells aboard. Odessa Excited Again Odessa, July 4. The Kniaz Potemkin has not come in sight of the city yet, but six large vessels are visible from Cape Fontaie, and are believed to be a squadron searching for the mutineer ships, The city is in a state of excitement again, as the people believe that if the mutineers return they will be more aggressive than they were before. ..u,.s ,.. n. Bucharest, July 4. The Russian tor- i Pedo boat destroyed Stremetilni has ar Potemkin. It is reported that the Kniaz Potem- I kln - Tavritchesky ! Italian collier. has held up an Raided a Village Berlin, July ( 4. A dispatch to the Anzeiger from Odessa states that the crew of the Kniaz Potemkin raided a village near Odessa and seized and took on board their ship a number of cattle. J Unrest Among Russian Sailors Bucharest, July 4. There is unrest among the sailors of the Russian ves sels at Roumanian and Bosphorus ports. The crew of the steamer Bul garic has mutined at Ismal. OFF FOR CLEVELAND President Joined by Several Cabinet Officers at Jersey City New York,, July 4. President Roose velt left Jersey City at 5:45 this after noon on a Pennsylvania special train to. attend the funeral of Secretary Hay. The president, Secretary Loeb and two secret service men left. Oyster Bay at 3:30 in a special Long Island Railroad train, made up of President Peeler's private car and a day coach. A crowd was at the station. At 4:25 the train reached Long Island City, where a squadron of police held bacy the cheer ing multitude, waving particularly at small children held up for him to view. A number of secret service men in charge of Agent Flynn and many cen tral office detectives closed in behind the president and followed him on board the Long Island Railroad trans fer boat Wyandotte. The craft along the route saluted as the -boat passed. She reached the Adams Express pier of the Pennsyl vania Railroad at 5:20. Chief Murphy of Jersey City had a squad of police in waiting" mere to escort tne presi- i liuu iu cvuj e-"- dent. Attorney General Moody, Elihu j made to feel at home and they have Root and Paul Morton boarded the special privileges that are not extend Pennsylvania train at Jersey City. The t ed at any other hotel in North Caro train was made up of two privaae cars, -lina. the diner Oberlin and a buffet car. It j The sailing is beyond comparison. By was arranged that Senator Knox ! the lath if all the people come that are should board the train at his summer i booked we will have no room for any home and Emory Smith and a number ' more. of cabinet members at Philadelphia. Lyman J. Gage, who is now in Massa chusetts, could not return in time to Join the president's train. He will go to Cleveland by the Lake Shore. The president's train is scheduled to reach Cleveland at 9 o'clock tomorrow morn ing. Philadelphia, July 4. President Roosevelt's train hurrying "- him to Cleveland to the funeral of the late Secretary of State John Hay arrived in Philadelphia at 7:45 o'clock tonight after a fast, smooth run. Cleveland, July 4. Upon the arrival here tomorrow of President Roosevelt the funeral cortege of the late Secre tary Hay will start from the Chamber of Commerce, where the remains have lain for two days, and move to Lake View cemetery. The president will be met by a detail from troop A, and Vice-President Fairbanks and Governor Herrick. In the funeral procession he will ride in a carriage with Mr. Fairbanks. After the funeral he and his party will be driven pack to the train, which will leave the city at 3 p. m. The first secretary of the Japanese legation at Washington, Mr. Hiki, ar rived this morning and brought two beautiful wreaths for the Hay casket from the Japanese minister and his wife. Mr, Hiki said: "I beg you to accept the wreaths which I have now the honor to put on the casket in be- i half of the Japanese government, in token of friendship and highest re gard for the character of Mr. Hay. I beg further to request that you accept another wreath which I present in be half of Mr. and Mrs. Takahira." FOR MINISTERIAL RELIEF Southern Presbyterian Church Has Gift of $100,000 From Atlantan Louisville, Ky., July 4. It is Inten tion of the excutive -committee on ministerial education and relief of the Southern Presbyterian Church to make the $100,000 gift of an Atlantan, which has just been announced, the nucleus of an endowment fund of a quarter of a million for ministerial relief. Rev. H. H. Sweets, secretary of the committee, said today that the com mittee had for a long time $25,000 in tended for this purpose, and that since the donation of $100,000 was received several large contributions have been sent in. The name of the donor is withheld for the present. HAS THE CZAR YIELDED? .. . r Report That a Liberal Con stitution Will Be Granted Modeled on That of Great Britain, Upper House of Aristocrats, but Real Power in Lower House, Two From Each Zemstvo London, July 4. The World quotes a London leader of the Russian revolu tionary movement as saying that the czar and the grand dukes and other leaders of the revolutionary party have now yielded to the pressure of circum stances, and that a liberal constitution will be granted soon. The new gov ernment will be modeled on that of Great Britain, an upper house to be composed of the grand dukes and mem bers of the aristocracy, but the real power being lodged in a lower house to which oach zemstovo will send two representatives. Full personal and re ligious liberty will be granted to all, including the Jews. " The revolution, this leader is said to declare, is over and it has been comparatively blood less. " St. Petersburg, July 4. At a confer ence of the reactionary and clerical parties at Moscow it was decided to petition the czar to receive a deputa tion ..with an address against the grant ing of a continuation and upholding the autocracy. Insurance companies estimate the losses at Odessa at between $25,000,000 and $40,000,000 roubles. 700 AT ATLANTIC HOTEL Ill Couples on Floor at One Time During German Good Fishing Atlantic Hotel Morehead City, N. C, July 4. Secial. The german at the At lantic Hotel was led by Mr. Parham of Oxford. There were 111 couples on the floor at one time. The hotel is practi cally full tonighht with nearly 700 peo ple in the house. Mr. Kennedy of Kinston returned with a party consisting of four, in cluding himself, with a catch of 114 magnificent blue fish and trout. The fishing at present was never better. The accommodations at the hotel remain still at. the high standard at which they opened up and you hear nothing but praise for Gresham's man- agement. His assistants are all work- ing hard and giving perftct satisfac- THE LIVERPOOL WILD Went Our Rise About 20 Points Better THAT" MEANS 10 3-4C Yesterday's Rise in Liverpool Is Beyond Precedent and More Re markable Because Foreign Spin ners Took Enormous Quantities of Cotton at the Low Figures New York, July 4. The sensational riCA in fntnn it-. 4-1. TV' -it- i - v.vitji in Lut- j.ev xorK una. New Orleans markets yestciday brought about a wild Liverpool mar-v ket, according to .cable , advices from ' abroad this morning. A great deal of interest was "aroused in cotton cir cles over the question as to how for eign operators would i regard the gov ernment report of 77 -and the rise of a cent a pound in New York. In .-rder to meet the American advance it was necessary for Liverpool - prices to ri3e 47 points. The foreign .market opened ' 53 points higher and at 2-o'clock v.-as ! 56 points higher than "yesterday. Tha rise therefore exceeded the advance here bv about 20 Amerieain noints and ' inj the event of this fise being main until tMYirtrrnw rwttrvn in Taw Vnrlr would be selling at 10 3-4, as against' 10 1-2 at the close last night. The rise in Liverpool i today is be yond precedent and is the .'more re-, markable by reason of the f fact that foreign spinners have taken enormous quantities of cotton at the low figuro , of the winter. Exports of cotton from this country so far this season have exceeded all previous records and amount to more than 8,000,000 bales or about 2,250,000 bales more than the ; exports of last season.' Owing to the 1 large supplies abroad many cotton men were not inclined to look for as sensational a rise in Liverpool as that shown this morning; The foreign situation is normally a balance wheel in extremes of specu lative enthusiasm in this country, but from the advices received today he foreign apprehension is fully as acute- that pxisting in this country. This apprehension is explained by the enormous, business being done in Manchester. For months reports of trade condi tions in Lancashire show a genuine boom in progress, with business better than for twenty or thirty years. A3 a result of the bull speculation in cot ton during the past few years prices advanced to a point where great dis tress in cotton manufacturing districts in Great Britain resulted, from the ef forts to run machinery on high priced raw materials. This winter, for. the first time sinca 1898, cotton could be obtainedjn lar? quantities at moderate prices.and con sumption increased rapidly. For thii reason 10 or 12 cents for cotton is not regarded as an excessive price in for eign trade circles. Later dispatches from Liverpool snid that prices had advanced still further to 58 points above last night's close. The Liverpool Account Liverpool, July 4. The cotton mar ket was in a highly excited state and the opening trade seemed likely to be active, but during the day as prices advanced buyers hesitated and ger.erel stagnation, followed. From about. 2:1j o'clock prices steadily hardened to 6j points advance, which maintained un til late in the afternoon, when there, was a further advance, the market closing strong at 67 points advance for' the near months and from 64 to 63 points for the distant, positions, the total advance on the day being nearly three farthings a pound. In view of the fa,ct that th-re are three-quarters of a million bales stored in Liverpool the increase is reckoned to be equiva lent to 1,000,000 pounds sterling. Al- . though the excitement throughout tha day was ker-p the market displayed no panicky feeling. Nevertheless the sudden movempnt paralyzed trade in -r v.: ori tho business in yarn and ootton. cloth, in Manchester was practically suspended. The' day's turn over was quite small, buyers merely looking on and awaiting developments. Spinners of American yarn quoted cop twist and weft at in the higher; Manufacturers who. bought yarn did very little. The cotton mill market was depress a Mnnchestc-r and Oldham stock- holders wanted to see 1 Th r J, re na buyers. It is reported that some ern- ployers at jiunnrjr anu --- oQi,p-ht seriously short. Considerable doubt is expressed at the Manchester cotton exchange of the accuracv of the departmental report, radars found consolation in private re ports from well credited sources indi cating a much heavier crop. Neve r- three the warning waa nfcc.it-.:, - much confidence will on it. not be pi s cod MARKET
The Morning Post (Raleigh, N.C.)
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July 5, 1905, edition 1
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