The age-herald., 1901-05-09
SHORTS AGAIN HAD THINGS THEIR WAY Cotton Prices Took a Long
 Steady Tumble LOWEST LEVEL THIS YEAR Late In the Day There Was Sudden Change for the Better on a Scare
 of shorts By Southern
 Buying.

New York. May s.-Shorts again this own way on the cotton exchange and suc- ceeded in forcing prices much lower to the basis of TAI for July, the lowest level touched since the first of the year. Further liquidation of local and outside long interests occurred on the break and the foreign element also figured as Q liberal seller of the summer positions The market started about steady. with prices off to 10 points on near months and unchanged to 1 point higher on far months. Soon after the call there was rally of several points of profit taking, but before the close of the first hour July had fallen to TAI, while October settled to 6.95. Noon found the market in weak, listless condition with the bears in con trol. Later there was a sudden change for the better and a subsequent strong upward movement on a scare of shorts, the appearance of good investment orders from the south, the west and Wall street, and on claims that rain was badly need ed in parts of the central and western belt. Estimates for smaller receipts to- morrow added to the confusion of the shorts and stimulated fresh buying The shorts were harassed by fears that the English market would be quick to take advantage of the strength here. The market was finally steady with prices points lower to points higher.
 New York, May S.-Cotton quiet; mid ding, 8 1-l6; net receipts. 511; gross re- ceipts. coos; sales, 2,o45; stock, 126, 73s; exports to the Continent, 2,4SS.
 Total today Net receipts, F. 163; ex- ports to Great Britain, LAS; Continent, 4,225; stock, 560,895.
 Consolidated: Net receipts, 555S1 ex- ports to Great Britain, 32, ,656; France, l. 009 Continent 35,220
 Total since September 1: Net receipts, 6,S57 ,637; exports to Great Britain, 2,703- SAT- France, 671 ,945; Continent, 2,109,6S1.
 New Orleans Cotton Market.
 New Orleans, May S.-The spot cotton market was heavy today, buyers demand ing further concessions, which were finally made. Sales 4S00 bales including 1850 to arrive; quotations 1-16 lower.
 The market for contracts was compara- lively firm. Liverpood's drop of 3-32d on spots and 4-64d to 8-64d on deliveries ordi- narily would have sent prices tumbing on this side. but the long element rallied to the support of the market Conse- quently the first call showed a decline of but to points. During the balance of the session prices fluctuated over a range of 8 to points either way, the mar ket closing with May, 74507.46; June, ,736 7@37; July, 7.32@7. .S3, a loss of only 8 points on the day, while the next crop months closed practically at last even ings figures.
 New Orleans, May S.-Cotton easy; sales 46O0; ordinary 5A; good ordinary 15-16; low middling 6%; middling 9-16; good middling 8; middling fair SA; re- ceipts 5775; stock 206,171.
 Consolidated statement: Net receipts 55, ,7s1; exports to Great Britain 32,656; to France 1909; to the continent &,220; stock 5s0, 1885,
 New Orleans May S.-Cotton futures steady; May 7,45Q7. .46; June 7.36@7 .37; July .32@7 .S3; August 714@71 IS; Septem- Der | 9067. 92; October 6.S1@6.S2; November 6.76Q6. IS; December 6.75Q6.T.