Boll Weevil Damage Believed Exaggerated New York, Aug. 9.
Fine weather conditions since August 1, coupled with a strong belief. that the Ameritan Govern ment had exaggerated weevil damage, led to a violent reaction on the cotton market to-day, when prices declined as much as eight dollars a bale; lack of support from Liverpool also was a bearish factor.
Traders point out that it is now entirely a weather market and that the present favourable weather continues the growing crop of cot ton will be liable to prove consider ably greater than the figures given yesterday's Government estimate.
The market closed with a steady tone—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.