The age-herald., 1901-05-23
COTTON MARKET IN
 4 NARROW RUT 
 Bear 0vertures and No Support Caused Lower Prices. WEATHER NEWS A FACTOR A Bear Argument Was That the Gov ernment Estimate on Acreage
 Was on Their side-The
 Market Closed Steady.
WEATHER NEWS A FACTOR

New York, May 22.-Uncertainty and hesitation kept the early cotton market in very narrow rut, but before the close bearish overtures and almost total ab- sence of speculative support resulted in serious break In prices.
 The market opened steady unchanged to points higher and was nervious all the first hour owing to semi-sensational reports bearing on the July "deal,' and to Irregularities in the English and South ern markets. Covering of summer months short sales held prices, while July shorts kept the prices well in that month, in fact, at times showing a very firm front. But by midday cotton purchased on the belief that yesterdays bulge would be re- peated on a much larger scale, came out freely. Selling for foreign and Southern accounts helped to depress the market, while greatly improved crop and weather news acted as special factor against new crop options. Liverpool opened low CT and later showed marked evidence of strength, but before the close lost DOT tion again in near months, while far months became weak and irregular. The forecast for clear weather over the belt and estimates for well sustained receipts prompted selling for both accounts in the afternoon. Business picked up somewhat on the declaration, though at best profess sional operations compried the bulk of trade July sank to 7.60 with the other months displaying decided weakness. As the market eased off the courage of bears returned in proportion and buying orders fell off steadily. Claims that the govern ment acreage estimate of next week would be a big bear argument was made much of on the decline. The market was finally steady with prices to 10 points lower.
 New York, May 22-Cotton quiet; mid ding S1s, net receipts 200, gross receipts, 4S90 sales, 1000: exports, Great Britain, 1662; continent, 1300
 Total today: Net receipts, 7273; exports, G. B., 9,2O3; France, 19,963; continent, 2,112; stock, s463 830.
 Consultations: Net receipts, 95,551; ex- ports, G. B.. 13,065; France, 15,263; conti- nent, 35,11S.
 Total since September: Net receipts, 6,969, 203; exports, G. B., 2,775776; France, 6e5.S22; continent 2,2s7S74.
 New Orleans Cotton Market.
 New Orleans, May 22.-The market for spot cotton was quiet There was some looking around among sample rooms, and lists of the better grades found ready buyers at full prices; but the trading was very limited for the reason that lists of | better than middling are decidedly l scarce, and the poorer qualities are not | in demand. Factors are a bit encouraged by the faint improvement in feeling | cabled from the other side, and show some little inclination to ask concessions, I but there is a heavy undertone to the | ntrao ma rlS m | posed to operate beyond the limits of | pressing necessities. Sales 3650, including I $50 bales to arrive. Quotations are un- | changed.
 I In the market for contracts there was 1 nothing transpiring to excite more than passing interests. Trading was very | slack and fluctuations not sufficiently l wide to induce the usual amount of scalp | ing. The undertone was distinctly heavy, fact that doubtless interferred to 1 considerable extent with unloading by the long element. Liverpool made an- l other effort to advance prices, but at the opening New Orleans showed no alter l ation for this crop, but loss of 1 to 1 points on the distant months. After the l morning call the market ruled dull, and | prices sagged to a somewhat lower l range standing at the close to s points lower than yesterdays closing figures.
 New Orleans May 22-Cotton easy; sales 3650; ordinary 5A; good ordinary 15-16; low middling GA; middling 79s; good middling S1-16; middling fair 8 5-16. Receipts 240O: stock 163.959. Consolidated statement: Receipts, net, s5.551; exports to Great Britain 13,085; to France 15,343; to the continent %11s; l stock 463. .330.
 New Orleans, May 22.-Cotton futures steady; May 750 bid; June 7.43@7 A; July 7.35Q7. .36; August 7.13Q7. IA; September 6.s3@S. S5; October 6,72@6. 7S; November 6. .7oaS. .72; December 6.7O@6.n; January 6.72 bid