The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1902-01-14
COTTON OPENED 6
TO 10 POINTS UP
After This the Market Reacted
to Lower Levels
ENGLISH CABLES STRONG
The Close Was Very Quiet and Steady,
With Prices Net Point Higher
to 8 Points Lower-Large
Receipts.



ten points higher, this being on strong
English cables and a very bullsh private
crop estimate. The opening figures how
ever proved to be the best of the day
as general movement of holders to Sc
cure profits and a quick abatement of
shorts fear caused the whole market to
steadily react. Positive weakness devel-
oped at midday and continued pretty
much to the close. European shorts ran
to cover on Wilson's crop estimate of o.
445,0O0 bales and sent Liverpool up three
to three and half points by so doing.
This temporarily frightened shorts here.
though as a general thing very little
stock was taken in the crop estimate
above mentioned. Soon after the call
heavy selling for profit sent prices off
five points rapidly and after a slight
rally the market turned weak and at
midday was off some three to five points
from Saturdays final bids Liquidation
on the break was very heavy and con-
siderable bear selling developed. Large
estimates for tomorrow's receipts check
ed buying as did reports that New Or
leans speculative interests were we'll
loaded with cotton at prices above the
market. Before the downward move
ment halted May sold at S.07, compared
with 8.22 early in the day. Sentiment was
bearish most of the time and speculative
buying was at no time much of feature
Clearances for export were double today
thus showing that exporters were still
active buyers throughout the belt. In
| the last half hour the market rallied a
few points on covering by the more timid
shorts but at best the undertone was
barely steady with predictions numerous
for a lower Liverpool tomorrow under the
| big receipts. On the late advance Wall
street picked up little cotton and COM
mission houses also bought in conserva-
tive way The close was quiet and steady
with prices net one point higher to eight
| points lower.
New York. January 13.-Cotton quiet;
| middling sac; gross receipts 4725, sales
1900, stock 27,792, exports to Great Britain
1870, to the continent 100
| Total today: Net receipts 1906, exports
to Great Britain 1884 to France H,42S
to the continent 1o,S2S, stock 997, ASH.
| Consolidated statement: Net receipts
rs, 1884, exports to Great Britain 49,247, to
France q, Alb, to the continent 5S.0SS
| Total since September /: Net receipts
213S13 exports to Great Britain 1,s71.0s5
to France 4S1S79, to the continent 1,41, OLA
New Orleans Cotton Market.
New Orleans, January lathe market
for spot cotton is steady, though there is
only light demand. Sales 1850 bales in
Guiding 100 to arrive. Quotations I'M
changed The future market opened
steady to points higher in response
to the Improvement in Liverpool. Later
in the day realizing sales by scalpers.
some outside selling orders and heavy es-
Inmates for ports and the interior had
the effect Of breaking prices a few
points. This encouraged the bears and
they succeeded in depressing the market
still further, the board at the close show
ing a net loss of l point on all positions
Cotton steady; sales $3.50; ordinary 61sc
good ordinary &c, low middling 9-18c,
middling TIC, good middling SIC, mid
ding fair Se-16c. receipts 1880, stock
355, 1892.
Consolidated stat ement: Net receipts
1884 exports to Great Britain 1921 to
France 27,432, to the continent Is, 0SS, stock
| 997, 457.
New Orleans January 13-Cotton fu-
lures quiet and steady. January 1901 81;
February 7.83Q7 IS; March 7.S997.9o APP
ril 1897 .s5; May 7.sSQ7.99; June SOS .o2;
July S.o6Q8.07.
New Orleans January 13.-Clearings
| 81, ss7. 022 New York Exchange Bank par;
commercial oV per cent per SlVUu ulSCOuLts
DAILY STATE rnent
| Galveston-Firm; middling 15-16; sales
| 47O; receipts 1916; stock 222,12O.
Mobile-Quiet; middling tn sales 200;
| receipts no; stock 32.006
Savannah-Dull; middling 1916; sales
1853; receipts 1886; stock 1924
| Charleston-Firm. middlng 1915; re-
ceipts 1876 stock 1,967.
| Wilmington-Stea dy; middling 7M; re-
| ceipts 693; stock 26,6sS.
| Norfolk-Steady; middling 8; receipts
1887; sales ia; stock 1905.
Baltimore-Nominal middling 81; re-
ceipts 574; stock 1876
Boston-Quiet; middling 81; receipts.
net, 1904; gross 1900
Philadelphia-Quiet middling 81; re-
ceipts 1900; stock 6512.
st. Louis--Steady; middling 715-16; re-
ceipts $3.50; stock 54,s91.
Memphis-Steady; middling tx; receipts
6945 shipments 1853; sales 25Oo; stock no.
950