The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1903-12-03
MADMEN HOWL
FORMORE COTTON
A Day of Terrific Strain
on the Exchange.
NEARS TWELVE CENTS
The Weather Over the Belt is Gnsetilt d
and Port Receipts Fall Below
Estimates. Exports Light.
Large Dealings in
Stocks.
(By the Associated Press

New York, Dec. 2.---As far as buy ig !.
concerned the dry goods market has no
been alpreciably anected by the recorS
prices secured on cotton. Buyers ak
still inclined to await developments ;nl
there Is still feeling that the abnorma
level of the raw cotton market mus: give
way to pressure OF curtalment which
WI. nave its natural effect upon piece
goods prices This, however. manufac
turers and sellers continue TO combat
with a constant tendency toward a!ser
limits.
NEW YORK COTTON.
New York. Dec 1.-The cotton mar
het opened firm at an advance OF 8 to -
points and ruled more active and excited
than during any session since The spccta-
cular days of last July. Attention was
ceniered entirely on the g'nners' roper.
due at midday and ordinary market fac
tors were barely noticed. Llserpoor
which mad been rather lower than due
had rallied and joined in the genera! eg-
element While New Orleans opened firm
and higher Under q repetition. appar ntiy,
of the recent tactics of the bull pool n
that market who were bidding for large
blocks all along the line. Local. the
noise and confusion were beyond iescrjp
iion. Brokers were pushing and croWdng
one another 10 reach the ring and every.
body almost seemed TO be buying co,ton
except the big longs who sold very ncsy-
i!y. Notwithstanding these offerings how
ever, the initial burst of covering and
buying for outside account carried The
market up 10 4 net advance OF - to ~
points with March, selling within POT Is
of the twelve cent mark. Then covering
became slightly less pressing and real
ling continuing. the market sased off
slightly with the noon bids abouf o
. points net higher. At this level the
market received the report OF the Census
Bureau which fell absolutely fiat. The
trade had been expecting an eg.imate
OF the amount of cotton remaining to be
gnnsd but was disappointed in this re-
sLect and there was also at first some
misunderstanding as to whether bales we. e
commercial or 500 pounds Without the
estimate of cotton still TO be ginned, tn.
report had no trustworthy clue 10 The
probable crop, ard first prices after the
reading of the report were practically
unchanged from the twelve O'CLOCK bids
Alter this there was decline under real
izing Snd at one time the marfri was
net to POINTS lower or the active
months. Leading bull interests wer, good
buyers on the decline, however, protestins
their confidence n . bu.!ish crop cstl-
nate tomorrow and the market was raj
lied During the balance of the session
II ruled rather irregular but very steady
and closed very steady net unchanged to
six points higher.
Sales were estimated 1T 100000 bales.
The weather ever the belt was rather
unsettled and port receipts fell below cs-
timatcS with exports rattle. light and
estimates for tomorrow receipts at lead
ing points heavy on the average Cotton
receipts at the ports today T3..las bilss.
against 5..i54 last week and $3.50 last
year. For the week $50, 900 bales. against
81. 500 last week and 32s,09i lest year.
Taday's receipts at New Orleans were IT,
SIS bales. aga inst 29,247 last year, and at
Houston 2l,62l bales, against 1852 last
year.
NEp YOHK De. . fTasOn spot closed
quiet =. roints higher middl ng upianu ,H.9.
gulf l2.lJ; sales ) : bales.
+, ,uros openeo strong and closed