The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1903-03-16
COTTON MARKET
SHOWS UP STRONG
Early English Gables Caused a
Complete Surprise
PRICES JUMPED SKYWARO
During the Early Excitement the New
Crop Positions Were Neglected and
Held a Nominal Relation
to Other Months.
PRICES JUMPED SKYWARO

New York. March 14.-The cotton mar
ket opened strong at rise of 1929
points and soon showed a rise of 20Q29
points as compared with the closing fig
ures of yesterday The sensational rise
thus indicated was due to a 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
2d3 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 a struggle TO cover,
but sellers were scarce and not until May
cotton had sold up to 9S7 was the up
ward movement arrested. From this point
there was decline to GA. 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
spreading belief that the movement of
cotton to follow better climatic conditions
may not Justify eXpectations.
New York, March 14.-Cotton quiet;
middling 10c; net receipts, SO; gross re-
ceipts, 1923; stock SS7S6; exports to Great
Britain $50; exports to the continent, IA;
exports to France. 232.
Total today and consolidated; Net re-
ceipts, at all seaports, 1908; exports to
Great Britain, 23,0S9 exports to France,
233; exports TO the continent 6212; stock,
GIG, 92S.
Total since September 1 at all seaports:
Net receipts GSlO,S79; exports to Great
Britain, 2310, 1859; exports to France eS1,-
2S3; exports to the continent 2,4l2,OS5.
New orl.ans Cotton Market.
New Orleans, Marc-l 14.-The spot cot
ton market was very firm, but rainy
weather prevented movement to any
great extent The Liverpool cables were
VI tie IlOSl tIlCOuldb SllON
ing that Egyptian buyers 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 TO- This was
followed by a reaction of to Z points.
Thereafter slight fluctuations occurred.
the board at the close showing net gains
of IA to II points on this crop and to
II on the new crop positions. Trading
light. Middling, 1850; middling fair.
IL Site
New Orleans. March 14.-Cotton futures
steady. March, 9.72Q9.74; April. 9.72 bid;
May 9.75d9 76; June, 9.7609 IS; July, 9.77
a9.7s; August 9.56a9.57; September, S.s5
as SO; October. S.51QS 50; November, s. 400
S42; December, s. 40@S. AZ.
New Orleans, March 14.-Cotton firm;
sales 1900; ordinary. Sssc; good ordinary,
11-16c; low middling 9bc middling,
11-16c; good middling, 101sc; middlng
fafr al