The Birmingham age-herald., 1903-11-06
COTTON. MARKET
 IS VERY ACTIVE Prices Forced Up at a Record
 Breaking Rate SOON WORKED DOWNWARD Rumor From New Orleans Was to the Effect That the Advance Was Too
 Rapid for So Early In
 the Season.
SOON WORKED DOWNWARD

New York, November 5.-The market opened steady at decline of points to an advance of points under the con iicting influences of lower cables and realizing, as opposed to rather less fa- yorable climatic conditions and bull sup port. On the call there was partic- ular activity, but for the first half hour or so afterwards the market was more wildly excited and active than at any time since the days of the old bull cam paign To the gains of yesterday sub stantial additions were made as prices were forced up at a record-b d-breaking with the bull leaders bidding aggressively all along the line shorts covering in panic stricken condition, and buying orders pouring in from all sources. Before the first rush of buying had subslded, De- cember was selling at 10s3; January. 1O.90, representing a net gain since the close of yesterday of 25 to 30 points, while the advance since the low point of last Monday was a matter of about $500 trading contract. Such profit as this could not but otherwise prove attractive, and there was heavy realizing on the higher level. Still the market for time displayed great firmness, yielding only few points. Then 1t was reported that a prominent New Orleans interest had said that the advance was too rapid for so early in the season. as cotton was coming to market in such volume that 1t was rumored that a Wall street bear clique had been formed, and induced sell ipg, with the result that while very ac- tive, the market in the afternoon worked downward. At the close the net gains were only a matter of 6@12 points. The market was finally steady, with the total sales estimated at 1,500.O0o bales, this be- ing days business but once equalled on the exchange. There was but little news to account for the great activity and spurt
 There was more bullish crop estimates circulating, notably one placing the prob able crop at about 10,375000 bales, which was issued by a local exporting firm bear ing an excellent reputation for conserva- tism, and this naturally entrusted very ibulishly with Mir Ellison's crop esti- mate of the worlds requirements. The weather was hardly so favorable as re- gently, there being scattering rains with the forecast calling for cold weather in the western belt. On the other hand. the receipts were full and exports light. The southern spot markets were firm and from ls to Ac higher.
 New York, November 5.-Cotton steady. Middling, 10.S0c; net receipts, S49; gross receipts 1916; sales, 1000; stock 7,9SS; ex- ports to Great Britain, 1196.
 Total today at all seaports: Net re- ceipts, 56,0O5; exports to Great Britain, 1e96; exports to France, -; exports to the continent 250; stock 67S96.
 Consolidated at all seaports: Net re- ceipts, 3S6,69 exports to Great Britain. 56,, ,146; exports to France, 4s,340; exports to the continent, 114,925 exports to Japan, $50; exports to Mexico, 99S.
 Total since September 1 at all seaports: Net receipts. 2,314,570; exports to Great Britain 662, ,591 exports to France. 213,5 exports to the continent 627, ,494; exports to Japan, 2SS0; exports to Mexico, 12,52S.
 The New Orleans Cotton Market.
 New Orleans November 5.-Spot cotton active and higher in sympathy with high CT Liverpool and the advance in New York, together with the boom in futures. Sales, 4S00 bales, including 550 to arrive. Quotations Ac higher. Futures opened from 1 point lower to point higher. Soon after the opening trading was active and prices gradually moved up until they had advanced IT to 27 points. Bullish sen- timent was apparently as strong as dur ing the historic bull campaign last sum mer. Both the weather map and the forecast were favorable. No frost was shown or predicted, and little rain. The movement continued heavy. After the continuation in prices had been reached profit taking on a large scale set in and prices receded from 10 to 19 points. leav- ing net gains of from to g points.
 New Orleans, November 5.-Cotton fu- lures steady. November 1033q10.35; De- cember 10.40610.4; January. 10.4TM10 48; February 1055 asked; March, 1064d10 65; ; April, 10.69d1071; May, 1O7sd1o.s0; June, 10.S0d10.S2; July, 10.S9d10.90.
 New Orleans, November 5.-Cotton steady; sales 4S00. Ordinary, 11-16; good ordinary. 300; low midding, 10c; mid ding, 1O%; good middling, 10 s-1s; mid ding fair, 10 15-16 Receipts 13.740; stock 195, 451.