The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1903-10-27
DAY Of BREATHLESS
INTEREST IN COTTON
Opens at Rise OF twenty 10
forty-fye Poin's.
A TREMENDOUS DEMAND
This Drags Prices Dcwn, But the Market Clos.
Ac i've With Valuss Net Twent, six TO
Thir'y-sx iighe,--- Mar
ket Professional.
(By the Associated Press

New York. Oct. 26.-The operations OF
buyers of dry goods have been on a very
limited scale and the week opens with
every indication that conservatism is to
be the ruling spirit for some time to
come. Jobbers are also experiencing a
very moderate demand and the outlook
for any increase In their business Ia net
OF the brightest for some time to come
al least.
NEW YORK COTTON.
New York. Oct. 26.-The cotton mar
kct opened strong at an advance of 90
to 43 POINTS amidst great excitement and
active covering by shorts who were evi
IDENTIFY in semi-panicky condition as a
result of the sensational advance in L'v
erpool and reports of more or less general
trosts ranging from light to killing that
We're reported over the central and east
ern belts between the closing of the mar
ket last Saturday and it's opening this
morning. October on the call sold AT
1O40, net gain of Al points or about
1920 contract as compared with the las
price of Saturday; December sold at
1924. q net gain of SO points: January
touched 1925; March 1920; May 1929
and July 1921. Naturally such gains as
this brought out huge blocks of long
cotton but the demand from shorts was
tremendous and while prices slowly sagged
down from the best point of the market
until a break of some % points on Octo-
Der and of from II to IL points on the
more active positions had been recorded
the undertone all the time was strong
and excited. The realizing was encour-
Cd hxr he hoo
weather but additional news of frost kept
pouring in and the local bull leaders key
on buying December and January giving
rise to all manner of sensational rumors
as to a corner IN the nearby positions
The market was in fact more active and
more excited than any that has been wit
messed since the spectacular Developments
accompanying the old bull campaign and
shortly after midday prices rallied up 20
the best levels of the session on the lat
ter months, while October continued about
Is to 20 points under the high price of the
morning. At the best of the afternoon
December sold at 1895; January 1925;
May and March at 1926 and July at 1927,
all these prices later than January being
new high records for the season with the
exception of March. The transactions for
the day surpassed all previous records,
the total sales being estimated at 1500,-
900 bales overcrowding all of the black
boards and the states which have been
provided for such cases, and running over
on pieces of cardboard making it next
10 impossible at times to keep track of
the course OF the market. The market
was finally steady with trading still az
tive and prices net 26 to 36 points higher,
this being reaction from the best of Is
points on October and from ! to Z points
or the later positions. Estimates for to-
morrow receipts were very heavy. Tho
Southern SPOT market was more active
and unchanged to 3-Se higher. Exports
for the dav were S. 2S bales
NEW YORK, Oct. 26-Cotton spot closed
steady y points higher, middling upland, 1915
gulf 1870 sales 2G00 bales.
Futures opened strong and closed
steady