The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1903-03-15
COTTON MARKET
SHOWS UP STRONG
Early English Cables Caused a
Complete Surprise
PRICES JUMPED SKYWARD
During the Early Excitement the New
Crop Positions Were Neglected and
Held a Nominal Relation
to Other Months.
PRICES JUMPED SKYWARD

New York, March 1.-THE cotton mar
ket opened strong at a rise of 1925
points and soon showed a rise of 2Oa29
points as compared with the closing fig
ures of yesterday. The sensational rise
thus indicated was due to great surprise
furnished by todays cables, which instead
of showing a decline of 1G6 points, which
would have matched the New York clos
ing of yesterday, reported an advance of
2Q3 points According to private cables,
the English rise was the result of re-
newed and energetic buying orders from
Alexandria, the Egyptian spectators
having gone over to the bull side of the
account while jobbers were said to be
short to Liverpool. The New York con-
tingent was entirely taken by surprise.
The usual market bearings were ignored.
The shorts made struggle to cover,
but sellers were scarce and not until May
cotton had sold up to 9.S7 was the up
ward movement arrested. From this point
there was a decline to 9.74, but the mar
ket remained very active and showed evil
dence of renewed interest on the part
of the bull pool The trading was CEN
tered largely in May contracts, in which
of late a very considerable short interest
has been created. Operations, however,
were also heavy In July and August. Dur
ing the early excitement the new crop
positions were quite neglected and held
a nominal relation to the other months.
There was some investment demand on a
spreading belief that the movement of
cotton to follow better climatic conditions
may not justify expectations.
New York, March 14.-Cotton quiet;
middlirg, 10c; net receipts, So: gross re-
ceipts, 1923; stock, SS,7s6; exports to Great
Britain, 1856; exports to the continent IA;
exports to France, 232.
Total today and consolidated: Net re-
ceipts, at all seaports, 1908; exports to
Great Britain, 23,OS9; exports to France,
233; exports TO the continent. 6212; stock,
616,92S
Total since September l at all seaports:
Net receipts, 6.S10,S79; exports to Great
Britain, 2,310l exports to France, 6S1,-
2S3; exports to the continent, 2,412 0S5.
New Or.,ans Cotton Market.
New Orleans, March 1.-THE spot cot
ton market was very firm, but rainy
weather prevented movement to any
great extent. The Liverpool cables were
of the most encouraging character, show
ing lildl f1Byplldn DuA eTS were. again en-
tering the market. News from the coun-
try was of a distinctly bullish character.
The impression is getting to be very gem
eral that next years crop will be the
latest on record. Sales, 1900 bales includ-
ing 800 to arrive. Quotations unchanged.
Futures opened firm, May being up II
points, July 20 and August 10. This was
followed by a reaction of to points.
Thereafter slight fluctuations occurred.
the board at the close showing net gains
of IA to II points on this crop and to
- on the new crop positions. Trading
light. Middling, 1O1kc; middling fair,
IL 3-l6c.
New Orleans, March 14.-Cotton futures
steady. March, 9.72@9,74; April, 9.72 bid;
May, 9.75Q9.76 June, 9.76d9 rs; July, 9.77
d9.7s August, 9.56d957; September, s.s5
ds.S6 October, SOLOS 50; November, s. 400
S.42; December, S.40dS.42.
New Orleans March 14.-Cotton firm;
sales, 1900; ordinary. sac; good ordinary,
11-16c; low mddling, 9sc; midding.
11-16c; good middling, 101sc; middling
fair, II 3-16c.