The age-herald., 1900-12-11
COTTON PRICES II
 FELL 30 POINTS Widest Excitement Prevailed Throughout the Market SMASH CAME ABOUT NOON When the Government Report Was Read Everybody Began Selling. Shorts Finally Recovered and
 Steadied the Market. sss
SMASH CAME ABOUT NOON

New York, December 10-It has been many months since fluctuations on the New York cotton exchange have reached fifty points, and since speculation equal led that record today. From opening to closing the session was one of great inter- est. The constant bobbing of rumors with in the past two weeks to the effect that certain parties were in possession of the government report which regularly scheduled to make it's appearance for the first time today. had led to precautionary evening up on the part of the public, and had greatly disturbed the views of the trade
 The market opened peaceably enogh with prices three points higher to five points lower and easy as to tone A pause for bearings and then drop of some ten to twelve points occurred under room and out side selling. precipitated by surprisingly large receipts and gloomy English market news. Then came a sharp reaction which carried prices up with a rush fourteen to seventeen points on fresh rumors that the bureau reports was out through '1eake and was strongly bullish. Shorts lost faith in their position; number of room traders were sufficiently impressed with the stories pO ilSh LhG lOiiS SldC. hC SlooO Ol tiiS first hour saw the market decidedly steady and a shade above Saturdays closing fig ures. For the next half hour unimportant variations occurred and business became quite sluggish.
 But midday drew near both factions became exceedingly nervous and fearful that they had overshot the market. A scamper for safe ground resulted in fever ish trading and an cratic movement in Values though at F o'clock prices were nearly even with the closing of Saturday.
 The bureau report came over the wire promptly and estimated the present crop at 10, coo bales from an acreage of 25,0 ,000 or about the same as estimated on the acreage by Liverpool cotton exchange members Icing close to 350,000 bales in excess of lo- cal expectations and some 600000 bales larger than figured by Nell. Terrific sell ing immediately set in and amid unpreee- dented excitement prices fell vertically 40 to 50 points, there being individual declines of to 20 points at time before the crash was over. Stop-loss orders added to the confusion, which was unavoidable.
 Commission houses found it almost in1- possible to sell cotton, there appearing to be no buyers for time at any price. But the enormous profits within easy reach tempted shorts to cover and soon rally was in progress which steadied the market 12 to 15 points. For the rest of the day the market was very irregular and subject to violent fluctuations and spasms of buying and selling Near the close fresh decline grew out of selling prompted by fear that the weakness here, the big receipts, the bearish Government report and the easier spot markets would stampede Liverpool to- morrow and bring about a sensational smash there. At the close the market was steady with prices net 27 to 8 points lower
 New York, December 10.-Cotton dull; middling 97s net receipts 1224; gross 12oS; sales 126; stock 56,11S; exports to the con tinent 496; to France 300.
 Total today: Net receipts 45,122; exports to Great Britain 17,144; to France 59OO; to the continent Il, ,476; stock S15,292.
 Consolidated: Net receipts 92977; exports to Great Britain 11S; to France 7616; to the continent 15,137.
 Total since September 1: Net 3,747,195; ex- ports to Great Britain 1.41S379; France 3l1 4G0; to the continent 961, ,54S