The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1903-09-16
ADVANCE CAUSED
BY BULL SUPPORT
September Comes in for Most
Aggressive Spirit
STORM HAS LITTLE EFFECT
Rains Thought to Be Beneficial for
Cotton Crop and Bring About
Active sellng-Prices Close
Steady and Lower.
STORM HAS LITTLE EFFECT

market opened barely steady at an adj
vance of IL points to a decline of three
points. February and March were the on
~ options lower. The advances were
due to a renewal of bull support and COW
ering following the higher English spot
market where prices were marked up
another 16 points, and the relative firm
ness of September in that market, which
advanced beyond local expecta lions, while
the later positions were hardly as high
as had been considered due on the New
York closing on the previous day.
September here came in for the most
aggressive spirit and sold as high as II. 30
on the call, while October reached 1910.
December 800. and January 9.7. Almost
Immediately. however selling orders came
pouring in as a result of disappointment
over the showing of the weather map.
which had been expected to reflect no lit
tie damage from the southern storm This
however, appeared to have spent its force
in Florida and to have developed into
nothing moro than good soaking rains
by the time 1t reached the central belt.
These were thought to be more beneficial
to cotton than harmful and brought about
active selling for both accounts under
which prices reached a level some 7@9
points below yesterdays level. Then 1t
was noted that the forecast called for
cooler weather with frost predicted in
portions of Texas and outside selling or
ders subsidng. The room turned for COW
er and prices partially rallied.
The advance was shortlived, notwith-
standing the fact that the regular weekly
A. ft1r tFad oxrar
more bullish than had been looked for,
and during the afternoon the market
ruled generally weaker under liquidation
and selling for short account. September
sold as low as 1892, October 9.86, Decem-
Der $40, and January 9.97. just before
the close the demand became Slightly bet
ter on the reaction theory and September
rallied a few points, closing at n.m. Cen
orally speaking, however, prices were
finally at the low point with the market
steady net 16 to 20 points lower. Sales
estimated at 100000 bales.
New York, Sept. 15.-Cotton steady;
middling 70; gross receipts 4,75l; sales
3, 4S2; stock Ito, 473; exports continent B.
493.
Total today at all seaports: Net re-
ceipts 26172; exports continent 1868;
stock 1886.
1OHSOlludl6Q dl an StdPpi - ANSS -
ceipts 50,716; exports Great Britain 723;
continent 10, 903.
Total since September / at all seaports
Net receipts 49, $40; exports Great Britain
1921; continent 16.S52
The New Orleans Cotton Market.
New Orleans. Sept. 15.-Spot cotton In
good demand and firm Sales $500 bales,
including $500 to arrive; quotations adj
vanced one-sixteenth. Futures opened
steady with prices. to points higher
than the close of yesterday. The adj
vance was due to the general expectation
of a bulish bureau report, sensational
advance in the Liverpool spot market.
cool weather and rumors that the boil
weevil had again been found in Louis
iana this time near Alexandria.
Soon after the opening a selling move
ment was inaug1irated and prices were
driven down to points. When the
government bureau report was received
there was some excitement, but prices
showed no inclination to advance. On
the contrary, they were weighed down
by profit taking. 1t was evident that the
effect of the bureau had been entirely
discounted in the trading of yesterday
and the early hours of today. In the
trading October opened at 994, sold up a
point and then down to 9.72; December
opened at $50 asked, sold at 9.2 then
down to 962; January opened at 9.s5 and
sold down to 967; March opened at 9.S9,
sold up to $50 and then down to 9.72. The
general trend of the prices was down.
ward and this condition continued to the
close when the list showed net losses of
10 points on December and IL each on all
other positions.
New Orleans, Sept. 15-Cotton futures
barely steady. September 10.55d1057; Oc-
tober 97409.75; November 9.64M965; De-
cember 963@964; January 9.6Td9.6S; Feb
ruary 9.69d970; March 972d9.73
New Orleans. Sept. 15-Cotton steady.
Sales $500. Ordinary 77sc; good ordinary
3-16c; low middling 10 3-16c; middlng
10 13-16c good middling IL lie; middling
fair II 9-16; nominal.
Receipts SS5; stock 12,467.