The age-herald., 1901-05-27
SHORTS UNEASY AND HEDGE ON JULY Desperately Afraid July Would
 Reach 8 Cents FEVERISH SUPPORT HELPS The Summer Months Absorbed the Bulk of Attention, Although
 August Failed To Keep
 In Line.

New York, May 25.-The cotton market opened steady with prices unchanged to 12 points higher. July led the advance opening at 7.92, as against s7.S0 last night As a matter of precaution July shorts bought July as a hedge. causing almost equal strength in that position. Trading all the forenoon was excited, but not specially active. Room and near month shorts were the leading buyers and seemed desperately afraid that July would reach cents before the close, as offer ings were light and sealed up from 7.90 to cents. Absence of news from Liverpool which market was closed on account of Whitsuntide holidays with rumors of a bad scare of shorts in New Orleans, help ed to unnerve the bear interest and to stimulate buying for further advance. Receipts were heavy, the weather South was fully as good as expected and crop reports showed steady improvement in the condition generally. Claims of large blocks of low grade were coming here from the South, the differences allowing handsome profits in such shipments, now that our market Is the highest In the world. appeared to in no way calm July shorts, who continued to bid feverishly for large blocks. An advance to 7.95 oc- curred soon after the opening and all the morning the market was strong tn an cratic way. The summer months ab- sorbed the bulk of attention, although August failed to rise much above last nights close.
 Feverish support from shorts kept the market well up to the top all the late session. Closed inactive with prices not points higher to 5 points lower.
 New York, May @.-Cotton quiet; mid ding, sN; net receipts, sN; gross, s5l; sales, $50; stock, 12o,92s; exports to Great Britain. 1902; France, AT.
 Total today: Net receipts, 9,418; exports to Great Britain 1902; France, 417 Con tinent, 1,135; stock, 461 JAS.
 Consolidated: Net receipts, 9,41S; ex- ports to Great Britain, 1902; France, AT; Continent, 7,135.
 Total since Septeber 1: Net receipts, G. 997, ,976; exports to Great Britain, 785, ,84S; France, 696,5Ss; Continent, 2,so2,S72.
 New Orleans Cotton Market.
 New Orleans, May 25.-There was not a great deal of trading today in the mar ket for spot cotton, though prices were distinctively better, under the influence of the sharp advance in contract values and those sales recorded were made at figures ranging a good Is above yester- days trading level. The advance in price for the better grades carried an improvement in the less desirable goods as well. The total sales reported up to the official closing were 75o bales of spots and $50 bales to arrive. The exchange committee on quotations today reported the market quiet and steady and marked prices up 1sc on all grades.
 In the market or contracts the bulls were in the saddle today. The opening scared a modest advance of two to four points on the entire tier of months but after the first call the local talent swung into line with that of the metropolis and values were advanced steadily along the list. The greatest strength was develop ed in June and July contracts for which fifteen to eighteen points additional gains were respectively scored while the other positions moved up from six to ten points each. Just before the closing hour prices eased off a shade and the noon closing was a bit tame at net advances from yesterdays range of values of six teen points on the current month eigh- teen points each on June and July and eight to nine points on all other months.
 New Orleans, May 25.-Cotton quiet and steady; sales HOO. Ordinary, 5ssc; good ordinary 1-16c; low middling, 67hc; mid ding, 7Ac; good middling, 3-16c; mid ding fair, 7-16c receipts, PAP; stock, 159, ,451.
 Consolidated statement: Net receipts 941S; exports to Great Britain, 1902; ex- ports to France, AT; exports to the con- tinent, 71S5; stock, 461.14s.
 New Orleans, May 25.-Cotton futures steady; May, 7.S307 .S5; June. 7.77Q7.79 July. 7.71@7.72; August, 7.30@7 .31; Septem- Der, 6.s3@6. .95; October, 6.s1@6.S2; Novem- Der, 6.7sQe .s1; December. 6.7s@6.s1; Janu- ary, 6,S1@6.83.
 Daily Statement
 Galveston-Firm; middling, 11-16c