The Birmingham age-herald., 1903-12-22
ROUTED IN THE COTTON MARKET There is Good Demand at the
 Lowest Level PORT RECEIPTS ARE LARGE Sales Are Estimated at 100000 Bales, Trade Being Active In Spite of
 Approaching Holidays.
 Southern Spots Firm.
PORT RECEIPTS ARE LARGE

New York, December H.--The cotton market opened steady at a decline of four points to an advance of five points, i the irregularity being due to the opposing influence of lower cables and bullish ad- vices from southern spot markets, to- gether with Saturdays heavy exports and i expectations of a decrease in the interior movement.
 There was heavy liquidation right from the opening but at first there was also good demand for covering and consider able bull support, so that for time the market ruled comparatively firm, and was soon six to eight points net higher on the active positions Following this 1 the market began to sag under commits sion house selling, presumably for profits and as prices dropped down, stop-loss ord CTS were reached, so that the decline soon became a route and inside of three-quar- ters of an hour prices wer net l9 to 2I points lower on the active months.
 At the lowest level however, there seemed to be a good demand, the local bull leader bought openly and aggres sively, and New Orleans bullish mes sages, while news was circulating freely from interior southern points as to falling off in the movement, confined the tendency of planters to hold for still higher prices.
 After recovering part of the early loss the market ruled very irregular Tor time, but bolxe again in the afternoon un- der rumors that bulls were unloading and while finally steady was net 16 to 20 points l Gal l.2U bales. trade having been active in spite 1 of the approaching holidays Port re- | eeipts for the day were large, the wealth | CT fine estimates for tomorrow heavy. | On the other hand exports were big, the l interior movement small, and southern spots markets firm to little higher, | though generally quiet In the carry break the report of more serious turn in the far eastern situation was a factor, but opinion is divided as to the ultimate | effect on prices of an actual war between Russia andNJapan, it being argued that the probable decrease In demand from l China, which country is most likely to be the scene of war-like operations, would De partially offset by the demand for fitting out troops
 Receipts at the ports today 56,S25 bales against 53015 last week, and bl,29s last year. For the week 100000 bales against 9O6 1928 last week, and %5,231 last year. 'Today's receipts at New Orleans were 16,- TX hales against 13,72O last year, and at Houston 1o7S1 bales against TACT last year.
 New York, December H.-Cotton quiet; middling 13; gross receipts 491s; sales 5oVo; lstoci 73.370 -
 Total today: Net receipts, 56,S25; ex- ports Great Britain, 32,22O; France 1oo; continent, 1SSs7; stock S55,5SS
 Consolidated: Net receipts, nl,l94; ex- | ports Great Britain, 32,22O frahce' Iiolo' continent, 75,090.
 Total since September 1: Net receipts, 474e 22S; exports Great Britain, 1,4l6,6Ol; France 496,254; continent 1,49O,279 Japan 20, 405; Mexico, 17,05S.
 The New Orleans Cotton Market,
 Now orleans. December 21.-Spot cot | ton dull; very little doing Buyers ana | sellers were apart. Sales, 14O0 bales, ln- cludng 300 to arrive. Quotations nn- changed Futures opened steady With prices from 4 to points higher than 1 Saturdays close. Hammering by bears 1 and vigorous support by bulls caused l violent fluctuations, control of the mar | l,et alternating between the two ele- ments Following the better opening was heavy decline which was imme- i diately followed by strong recovery. After this there was another slump and another recovery. The fluctuations were rapid. The course of March during the trading serves to show the nervousness of the market. March opened points up at 1s S6 fell 26 points to 1S.lO; reeov- cred to 13.30. but later declined to lS.oS. The bears used another war scare with great effect English consols were down & and this helped the effect Of the ru- nor of serious trouble in the east. The decline of 16 points in futures at Liver 1 pool also assisted the bears in holding prices down. The net losses were F to IA points
 New Orleans. December 2l.-Cotton flu lures steady. December. F Sl4l2 S2; January, 12S5d12.s .s6; February 13.o3p 13 05: March, B 31Sd19.19; April. 13. 2S@ 13 30: May, 13 3S@13.39; June, 1S. 4Od13 45; July, 13. 49d13.5O
 New Orleans December 21.-Cotton ouiet sales. 400. Ordinary, 10 3-16c; good ordinary 111kc; low mddling 121sc; mid ding. 127sc; good middling, B 1-l6c; mid ding fair, 13 7-16c. Receipts 16,7l5; stock, 2S9, 9s6