The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1903-11-07
First Hour in Cotton is Sen
sationally Active,
THEN CAME REALIZING
AT The Lower Level, However, Persistent Buy
ing by the Bull Leader Scared Shor,s
and Prices Rebounded, Going
to the Best.
(By the Associated Press.)

New York, Nov. 6.-The demand for
dry goods has been restricted to a certain
extent by the reluctance of buyers in ac-
cepting certain of the offers which have
been made. But buyers are more willing
to anticipate their requirements to a
certain extent and are obliged to, pay a
firmer scale of prices than was the case
q few days ago.
RALEIGH SPOT COTTON MARKET.
Receipts yesterday ........... 10 bales
Prices yesterday ............ .1O1a to 1O7s
Receipts same day last year.. SO bales
Prlces ............... I9s 10 IA
Receipts this week 10 bales
Receipts same week last year.. 342 bales
Despite the weak start in New York
yesterday cotton held its own here and
1O% was the high,st price p id The
close of the market was strong and lndl-
Gates that IL cents will be paid today.
NEW YORK COTTON.
New York, Nov 6.-The market opened
firm at a decline of four points on the
near positions, which were affected by
rather disappointing cables and liquidaf
ton, at an advance of IL points on the
later months, which were Influenced by
continued bull support and the outlook
for cold weather in the western belt.
Right on the call the market became sem
satlonally active and was soon advancing
at almost as rapid a rate as yesterday
with prices in the first ten or twelve
minutes some 10 to Is points higher on
active bull support and fresh furry OF
shorts who were alarmed over the open
ing bulge of 20 points in New Orleans,
and the aggressive attitude of the local
bull leader. The advance was also en-
couraged by the expectation OF a bulllsh
census bureau report on Saturday giving
the amount of cotton ginned thus far fer
the season. and the spread of bulhsh
crop news in connection with reports
that European spinners were becoming
even more active bidders for spot sup
plies. After the opening squirt, however,
realizing sales were attracted IN great
volume, and for a time the market. in
fuenced also by Wall Street bear pres
sure, worked downward until in the early
afternoon it was from II to Is points be-
low the high point of the morning AT
the lower level the bull leader continued
j, to buy persistently, and as the session
progressed shorts again became panic
stricken, covered in volume and forced
the market up to the high point of the
session which occurred just before the
close, when December sold at 1890, jan
uary at 1887; March at 1890 and May at
1892 The market was finally firm or 3
points down from the best. Sales were
estimated at 100000 bales.
The afternoon advance was assisted by
the fact that the into sight for the week.
while larger than last years was below
early estimates and the full exports, while
the Southern spot markets continued
steady, with prices unchanged to Bc.
higher Receipts were heavy and the es-
innate for tomorrow's receipts at leading
points indicated no falling off in the move
ment.
Estimated receipts of cotton at the ports
today $4,000 bales. against 1881 last
week and 1854 last year. For the week
4155,O00 bales, against 401 ,912 last week
and 331, JAG last year. Today's receipts at
New Orleans were 11,704 bales, against
IL ,O32 last year, and at Houston %, 449
bales, against 1884 last year
NEW YORK, Nov. 6-Cotton spot closed
steady 20 points higher, middling upland, 11.O5
Futures opened firm and closed
firm.