The Birmingham age-herald., 1903-09-04
OF PRICES
 TURNS DOWNWARD List is Generally Unchanged With Occasional Reactions A PERIOD OF EXCITEMENT Monthly Bureau Report Shows Average Condition of SIP, Which Is Much
 Better Than Expected.
 Close Is Steady.
A PERIOD OF EXCITEMENT I

New York, September 3-The cotton market opened steady, with January 1 point lower, but the list generally un- changed to 2 points higher on account of foreign cables.
 The weather was generally favorable, however, and shortly after the call liqui- dalton set In which carried prices rapidly downward. There were indeed occasional reactions, but the course of the market was genrally toward a lower level until at midday prices showed net decline of 6@16 points. with September quoted at Il .25; October, 10. s5; December, 1o.O6; Jan uary, 1902 and March, 9.99. Then the monthly bureau report was read, showing an average condition of S1.2 per cent against 79.7 last month, and e4 last year. This proved more favorable than had been expected, and was followed by one of the most active and excited periods that the market has experienced since the early days of the bull campaign. In an instant almost, September was down to Il IS; Oc- tober was around 10 20; December, 9.95, and January. s.92; then realizing by sell ing orders came in from all directions and prices were soon on the downward track again. September sold at Ill; October. 10.07; December, 9.S2; January, 9.60, and March 9.76.
 The close was steady and at a slight recovery from this level which repre- scented decline from the highest point of the week of from 59 to 71 points, with prices finally net g to 3S points lower. The transactions were estimated at round million bales. Aside from the gov ernment report, there was little new in the situation, and naturally little was dis cussed. The slight advance in Liverpool was attributed to covering by shorts In that market, who preferred taking profits after the recent declines than to risk bureau less bearish than expected. The early decline here seemed to be resump- ton of the selling recently noted in some such condition as that reported. After the bureau was published, the chief buy ing came from shorts who took profits, while the various bull leaders seemed dis posed to allow the market to take it's course for the time being.
 New York, September 3.-Cotton quiet; middling, 12 BOG; sales, 2525; stock. 13O.- 347; exports to Great Britain, 264S; ex- ports to the continent, 50.
 Total today at all seaports: Net re- ceipts, 117S: exports to Great Britain, 3O93: exports to France, SS stock. 14S,904.
 Consolidated at all seaports: Net re- ceipts. 341S; exports to Great Britain, 3S40; exports to France, 115S.
 Total since September 1 at all seaports. Net receipts, 2156 exports to Great Brit ain, Ss26; exports to the continent, AIS.
 New rleans Cotton Market.
 New Orleans, September 3.-Spot cot ton quiet Sales. 250 bales. The cotton exchange committee reduced quotations a quarter on all grades.
 Futures opened three to five points lower on the active months, and the mar ket was nervous. Sellers and buyers seemed to be In about equal force and prices for a time were well sustained, but about II o'clock weak longs com menced to unload, causing a slight de- pression in prices.
 When the governments monthly bu- reau report was read, the nervous excite ment was increased and the ring thrown into confusion. Almost immediately there was a wild rush to sell and prices descended rapidly; until September com pared--with last evenings closing show ed loss of thirty-three points. October thirty-six, November twenty-five. >Decem- Der twenty-nine. January twenty eight. February twenty-five and March twenty six fss
 There were wide fluctuations and later in the day a partial recovery took place. September and October gaining seven points each. December four and January three.
 The list at the close showed losses for the day of twenty-six points on Septem- Der, twenty-nine on October and the other positions twenty-five points each.
 New Orleans, September 3.-Cotton quiet; sales, 250; ordinary, 8 13-16; good or dinary, 10h; low middling, 11s; middling. 12 good middling, 12asI middlng fair. 13 1-16; receipts, 154: stock, 12,152.
 New Orleans, September 3.-Cotton fu- lures steady; September, Il 01@11 .03; Oc- tober, 9.92G9. .93: November, 9.72@s .73; De- cember, 9.69@9. 70; January, 9.H@s.72; Feb rusry, 9.72@973; March, 9.73d9.75.