The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1903-05-22

New York, May 1S.-This was an
change. In fact, the enc surpassed
those witnessed last week. 1t started
at Liverpool first because trading
there began some five hours earlier
than our time. n the rise of equiva-
lent to 80 points in the price Of spot
cotton in that market and 16 to 90
points in futures did not need any ex-
tenslvely cabled marks to show what
was happening there. It was, how
ever, stated hat the followers of the
New Orleans bull clique had flooded
the market earlier in the day with
was enough to excite the shorts and
cause them to scramble TO cover. All
records for the present movement were
broken. May sold as high as 11.6S
and July up to 1925. After closing at
a considerable decline on Saturday,
prices started this morning to Jump
and before noon July had crossed II
cents, selling at 11.05c, some four
points higher than las week. There
was but one sale of May cotton during
the first half hour. a sale at IL Oc. as
compared with 11.15c. the closing price
on Saturday. September showed an ad-
vance of lac. a greater rise than that
revealed in either July or August dur
ing the first half hou In the first
hour nearly 900, 600 bales changed
hands.
July opened at 1890. an advance of
20 noints, halted for a few moments,
shot to 10.9Sc. halted for a few mo-
npnntc an6 fhan on a Crro nhlp IN onJ-pr
jumped to 11.16c. While transactions
in the New York market did not aggre-
gate rs large a total as the record day
of last week, the market today holds
the seasons record in point of the ad-
vance. During the afternoon. May
cotton sold at 11.68, an advance of SO
points. July sold at 11.26c. and ad-
vance of 80 points. and August sold at
10. soc. an advance of 40 points.
A feature of the afternoon was the
purchase of a large line of short cot
ton for July. during which the entire
market became very excited with
prices advancing rapidly. One broker
had an order to V 200 bales of
May cotton. The price was 1850, and
he started in to get the 200 bales at the
best figures. He bid 11.5Sc, 11.60c, 1852,
H. So and finally 1.6Sc before any cot
ton was forthcoming.
Soon after a broker had 300 bales
of May to sell and he sold the market
down to 11.60c. before disposing of the
cotton. Not until July touched IL IA
cent was there anything like a reac-
ton and at hat point heavy selling
orders r~eappeared that soon brought
about a reaction of about ten points
during the afternoon. May closed at
1855: July eased off to lily and August
closed at 1886. The market at the
close was steady, however. and net 10
to A. points higher for the day. The
advance in futures was accompanied
by an advance to 11.S5 for spot cotton.
Liverpool. Nav 1S.-The cotton mar
ket opened steady at one to one and a
half points decline, but after q rather
excited morning. quotations advanced
strongly. until at 1890 the equal values
showed an advance of 5 IL to IL
points over Saturdays closing prices.
On the receipt of the first New York
quotations the excitement increased
and was maintained during the after
noon, the market closing strong and
excited with near months quoted at IS
points advance and distant months at
s 1-2 points advance.