The Birmingham age-herald., 1902-08-29
COTTON MARKET
 SHOWS WEAKNESS Opens Several Points Lower
 and Does Not Recover WALL STREET BID LIST UP Distant Months Worked Up Gradually, But Weather Reports Soon Put
 Bears in the Lead and the
 Market Then slumped.
WALL STREET BID LIST UP

Market Then slumped.
 New York August 2s-The cotton mar ket opened weak, with prices 5 to 10 points lower under vigorous selling of long cotton by the commission houses and some of the more daring bear ope- rators. all brought on by reports of light to soaking rains over important sections of the central and eastern belt. fore cast for continued precipitation tonight and tomorrow over this country and pos sibly over the northern portion of the western belt, with very disappointing Liverpool cables. helped to weigh down the early market. Not long after the call, however. Wall street bid the whole list up with a rush, the near months not stopping until a net advance or to 5 points was recorded, while the distant months worked nearly up 10 the final bids of yesterday There were frequent sharp fluctuations during the balance of the session, but the general tendency was downward under persistent selling by commission house longs ana absence of public buying, which heretofore has been an important factor. The late rainfall bulletin gave more general ana extensive rains than the earlier reports had indi- cated, and the private wires stated that this moisture would greatly benefit the parehed crop. Near the close Europe, the south and smaller longs sold. Bull leaders gave some support but made little at tempt to rally prices. August dropped from 8 s7 to $40 In the absence of strong support
 The close was steady with prices net 8 to 22 points lower. The total sales were estimated at 100000 bales, or less than half the business reported yesterday.
 New York, August 2s-Cotton steady Rfiddling g; gross receipts 99o; sales 64l stock 541S1; exports continent ISIS; France 4so.
 Total todayi Net receipts lo,ssb; ex- ports to France 450; continent 92lB; stock 1s617s.
 Consolidated: Net receipts 44,649; ex- ports Great Britain 11,529; France 1677 continent 2O,S04.
 Total since September 1st: Net re- ceipts 7,e42 669; exports Great Britain B. 021, ,227; France 7As60; continent S,SS3, 4O2
 New Orleans Market.
 New Orleans, August 2S,-With August contracts selling at 825 and factors ask S.621a for spot cotton, there was small inducement for buyers to operate freely. There was some demand, but buyers, as rule were bidding well below the level of board figures, encouraged in this line of action not only by the sharp decline in contracts, but as well by the indisposi- ton of the trade on the other side of the ocean to respond adequately 10 the re- cent big advances here and at New York. Liverpool was up only 1-32d today on spots and but 11-64d on deliveries and spinners were not buying freely. Sales S25 bales, including 400 to arrive. Quota l tions unchanged.
 In the market for contracts there was decidedly less activity than yesterday, however, trading was quite brisk in Sep tember, October. December and Janu- ary. The action was unremitting and large, comprising in great part the exc eution of orders from southern interior but embodying also fair share of trad ing for New York account and no little floor work on quick for small pIs-1ls. The bears had all the best of the argu- ment today, however, and kept the bulls pretty well on the run At one tdne, shortly after the opening, the local bulls. materially assisted by their New York brethren managed to effect a recovery of a few points, but they soon lost their vantage ground and thereafter, while numerous slight upward fluctuations were quoted the trend was toward a distinctly lower level. On the opening call August dropped Il points. Sept ember and 3 to 4 points on other positions. Immediately after the call August was forced down 10 points additional, while the other months, after recovering and moving up to 10 points on Wall street prediction of 10 as the bureaus probable estimate of the August condition, fell away to the extent of 10 to 12 points. Thereafter prices fluctuated rapidly and at the close showed net losses of 26 points on August and 13 to 14 points on the other months.
 New Orleans, August 28-Cotton flu lures barely steady. August S.25; Septem- Der S19QS.20; tJctober S11; November S07 @8.0Si December s07; January So8GS.09 February s.0SQSl0; March s.09@sl0
 New Orleans. August 2S.-Cotton quiet and easier; sales S.25; ordinary 3-16 good ordinary 11-l6i low midding 3-16; mid ding SIS; good middling S7s middling fair 9A receipts S15; stock 32,5l3