The age-herald., 1902-03-25
COTTON DECLINES
 MORE THAN USUAL Market Turned Weak Under
 Tremendous Liquidation HEAVY BEAR PRESSURE Private Accounts From Southern h. terlor Markets Declared That Spot Cotton Was Being Eagerly Pur-
 ehased-closed Steady.
HEAVY BEAR PRESSURE

New York, March 24-The cotton mar ket opened steady with prices 5 points lower to one point higher and then turn ed very weak under tremendous liquida- tion by commission houses and room holders. Heavy bear pressure and sin gular absence of bull support made the decline more than usually rapid and not until May reached s.53 and July S.5S did prices show the least resistance to the selling movement. Before midday a slight Improvement was noted and for the rest of the session the market worked slowly upward, prices reaching nearly Satur- days final bids on covering and fair new buying. Yet sentiment remained gen. erally bearish on unfavorable cables from Liverpool and much heavier receipts at all points than expected. Tne bears made the most of the liberal estimate for to- morrow's Houston receipts just before midday and tried again to make capital of the New Orleans estimate which came In at 12:3O. Yet conservative shorts be- lieved liquidation to have discontinued much in the way of closing out weak long interests and warranted fresh sig ing up of the situation. Private accounts from southern interior markets declared that spot cotton was being eagerly pur- chased by mills and exporters with sell CTS decidedly less numerous than at this time in many years. The feature of af- ternoon trading was the purchasing of big line of July for the account of west ern interests which sold from 10000 to 50,0O0 bales last week above 8.S0 for July. ma mi fo al lower.
 New York. March 24.-Cotton quiet; middling S%; net receipts 115; gross 5632; sales 1914; stock 175 661; exports Great Britain S01; continent 3sO1 France 30.
 Total today: Net receipts 15,220; ex- ports Great Britain 762; France 30; con- tinent 3911; stock 691,532.
 Consolidated: Net receipts 329SS, ex- ports Great Britain A, BOT; France 30; con- tinent 4S61.
 Total since September 1: Net receipts 6S42,179; exports Great Britain 2701, ,S39; France 64O,S75; continent 2,1s4434
 
 New Orleans Cotton Market.
 New Orleans, March 24-The spot cot ton market was dull and lower with sales of 1250 bales, including $50 to arrive. Quotations reduced 1-16 on all grades.
 FutureS on the nTBt call were u points down. A feeling of uncertainty be- came apparent shortly after the first call and a break from the top set in. Prices tumbed at an alarming rate under gen. eral selling movement and before the downward course was checked May and July were each IS points under the last figures of Saturday and August record ed loss of 19 points. At this level the market held well and slowly won back more than half the decline, closing with net losses of 8 points on October on September, g each on March and August, to points on the other positions Au- gust closing at S.45.
 New Orleans, March 24-Cotton futures steady. March S35QS.37; April 8.40Q84 42; May S50@851 June S.569S.56; July S.61 @8e2; August S456DS.47 September S.05@ s.O7; october 7.S2@7.s4.
 New Orleans, March 24.-Cotton quiet: sales 125O Ordinary 73-16; good ordinary 11-16; low middling 11-16; middling 7-16; good middling 8 1916; middling fair 1916. Receipts 7226; stock 292, 524
 Daily Statement.
 Galveston, March 24.-Receipts 3729; stock 9S127.
 Mobile-Nominal; middling S9-16; re- ceipts 30; stock 16.174.
 Savannah-Quiet; middling Sk; receipts 1517; stock 42,9S1.
 Charleston-Steady: middling S5s; re-