The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1900-09-06
THIRTY-SIX POINTS
ADVANCE IN COTTON
Buying Orders in Great Num-
bers from All Quarters.
A TRYING DAY FOR BEARS
Prices Advanced With Remarkable Ease
The Public Was Conspicuous
Ruyer-Closing Was Feverish
Bear Ranks Demoralized
A TRYING DAY FOR BEARS

New York, September Sit was another
trying day for the bears in all cotton mar
kets, though notably in Liverpool and New
York. The bulls were mercless in their at
lacks upon shorts and eventually drove the
latter into frenzy. Nearly everything IA
vored a continuance of the sensational bull
movement started yesterday morning here
and on Saturday in the English market.
The cables wsre amazingly strong; there
were buying orders in great numbers from
all quarters, the print cloth and cotton
goods situation changed from one of gloom
to an exceptionally bright outlook, while
Southern spot markets were reported to be
thriving upon heavy demands from ex-
porters.
At the time of our opening Liverpool was
5 to 9la points higher, or far above an ex-
pected fair response TO yesterdays great
Improvement here. This at once caused de-
moraliza ton in the bear ranks and induced
leading bulls to aggressively operate on the
long side. First sales showed an advance
Of to 10 points, with the market officially
reported steady. In the face of a temper
airy reaction in Liverpool our market con-
tinued to move in an upward direction
during the first hour. Near midday the re-
treat of bears developed into complete
rout and demand from this branch of trade
in connection with investment buying gave
tie market an exceedingly strong under
tone. After brief period of inactivity the
market once more took an upward direc-
ton in the early afternoon and surpassed
the high point of the morning.
Prices advanced with remarkable ease,
there being practically no opposition Of
fered and proft-taking being light. The
al hot .f ,;,,4
cloths had been sold in Fall River and
that the cloth market situation was the
brightest in many weeks, together with the
announcement that American spinners
were competing for supplies with the for
eign manufacturing element in Southern
markets, added to the woes of oversold OPP
orators and acted as a fresh incentive to, a
higher market 1t was known that Man
chester spinnerS were in desperate straits
for cotton, that Liverpool stocks were at
an exceedingly low mark and that ocean
freight room was abnormally scarce at all
Southern ports, thus making it impossible
TO replensh depleted stores of European
spinners readily. The market was very fe-
verish during the last half hour, with
profit-taking prominent though not suffic-
iently heavy to undermine the market.
The public was a conspicuous buyer all the
afternoon, on the belief that Liverpool
would show further improvements to-
morrow. The close was firm at net rise
of 81 to So points. -=
New York, September Section, steady;
middling, 97s; gross receipts. 1,409; sales, SO;
Stock 27,951; exports to the continent, S51.
Total today: Net receipts, liza; exports
to Great Britain, 106; exports to the con-
tinent, 3101; stock, 104,S9
Consolidated: Net receipts, SO, S63; exports
to Great Britain, $3.50; exports to the con-
tinent, 4,194.
Total since September 1: Net receipts,
| 80 S63; exports to Great Britain, 1856; ex-
ports to the continent, 4,19i.
New Orleans Cotton Market
New Orleans, September 5.-Cotton firm
sales $500; ordinary 73sc; good ordinary
5-16c low mddling Else; middling
9 13-16c; good mddling 10 1-16c; middling
fair 10 Ice; receipts 1900; stock 26,2f.
Consolidated statement: Receipts, net,
80, S63 exports to Great Britain $3.50; ex-
ports to the continent 4,19i; stock 10i,935.
New Orleans, September 5.-Cotton flu
lures irregular. September 9.64 bid; Octo-
Der $500 90; November S.S0G8.S 50; Decem-
Der S.7S6DS.79; January 7.7S6DS. 10; February
| S.S06pS. 81; March S.S2@SS4; April S.S3qS. IS;
May S.S448.86.