The Birmingham age-herald., 1903-12-18
SCARE OF SHORTS
 SENDS COTTON UP Sensational Advance in Liver pool Livens the Market BUYING ORDERS POUR IN Active Covering Was in Sharp Contrast to the Holiday Aspect of Recent
 Times-AIl Offerings Were
 Promptly Absorbed.
BUYING ORDERS POUR IN

New York, December 1.-The cotton II to 21 points on excited covering and bull support. allowing sensational ad- vance in Liverpool. The market had been expected to show a trihe decline. It open ed unchanged but afterwards shot up like rocket with prices at about the time of the local opening. some IS to 19 English points net higher.
 | Private cables explained the advance on the ground of scare of shorts in con l sequence of American, continental and Egyptian buying. with the impression more or less prevalent that the New Or leans bull leader had helped the upward course of prices. Whatever the cause, | however, the foreign gains started active covering in the local market and for the first few minutes, buying orders came pouring in from every side in a sharp contrast to the holiday aspect of recent times Naturally, the advance carrying the later months over the previous high record, attracted heavy realizing of out side accounts, but all offerings were promptly absorbed. and only unimportant set backs occurred during the whole ses- sion, with the bull leaders supporting the market aggressively on every sign of weakness The highest point was late in the ses- sion, when January sold at F. 59. March 12.s0, May 12.90 and July at 12 93, these be- ing net gains of 35 to 42 points. All kinds of news was circulated on the advance Messages were received in great numbers from the south claiming approaching ex- l haustion and a very bullish disposition | among holders. with some private advices l alleging that southern spot handlers had | defaulted in their contracts to ship spot | cotton abroad, thus contributing to the | advance in Liverpool, where is was 1 claimed spot people were protecting them selves by purchases of futures against the failures of expected supplies, while other messages reporting difficulties among spot cotton houses at Bremen and Havre, add cd to the general feverishness of senti- ment.
 Receipts for the day were liberal and the estimates for tomorrow full, but these factors had no influence, and the market closed at the top figures. or nearly at net gain of 32 to fl points on the general list, with the tone firm. The southern spot markets were gener- ally firm and higher with New Orleans reporting sales of over 11,000 bales at an advance of 14 cent. Locally, the spot mar ket was 25 points higher at 12.70 for mid ding uplands. Sales of futures on the To- cal market were estimated at 1000 00o bales.
 Receipts at the ports today. 454Ss. l against 43 4S5 last week and 40,S09 last year; For the week 3O000O bales against | 332,216 last week and 633lS last year. To- days receipts at New Orleans were 1929 bales, against 11,032 last year. and at Houston 9469 bales against 4olS last year. 
 New York, December 17.-Cotton quiet; mddling. 12.70c; gross receipts. 626; sales. 1895; stock, 6S,721; exports to Great Brit ian, 1051; exports to the continent. 150.
 Total today: Net receipts, 45, 4S0; exports to Great Britain, 11,251; exports to the continent. 15.352; exports to Japan, 12o0 stock, 946,3S6.
 Consolidated: Net receipts 250.145; ex- ports to Great Britain SS,631; exports to France. 1S,105; exports to the continent 76 2S2; exports to Japan, 3456; exports to Mexico, 100.
 Total since September 1: Net receipts 4,5S1, ,720; exports to Great Britain, 1,344.- 79o; exports to France, Al. 561; exports to the continent, 1,356,592; expots to Japan 20 4O5; exports to Mexico, 17,053.
 The New Orleans Cotton Market.
 New Orleans December 17.-Spot cotton
  mand from all quarters. Buyers were out in force and bought cotton freely at 14c above yesterdays board level. Sales, H. $50 bales including 2700 to arrive and 800 f. O. b. terms; delivered on contracts, 400 Quotations, Ac higher Futures opened excited with prices 20 to 2S points above yesterdays closing, caused by the extra ordinary conditions in Liverpool spots there being up 16 points, and futures had n m market shorts stampeded to cover and prominent bulls were heavy buyers. Private advices from Liverpool stated that the continent. Alexanderia and New Orleans, were all heavy buyers. A small failure was reported in Bremen and shorts in all parts of the cotton world were said to be in an agony of fright over the situation. Their hurry to cover bore out this statement In the local trading Jan uary opened up % points at 12.64c; re- ceded to .51c and advanced to F. 73c; March opened 2 points up at 12.SSc. re- ceded to 2.S2c and advanced to 13.02c; May opened up 21 points al l299c re- ceded to 12.9 94c and advanced to 13.17c; July opened up 22 points at 10c, receded to 13. .04c and advanced to 330c. The huc- tuations were wide and frequent and the trading heavy. The market closed firm and within point or so of the top notch of the day, the net gains being 34 to il points.
 New Orleans, December 17-Cotton fu- lures steady. December. 126iQ12.64; Janu- ary, 1273 February. 12.S56t12. .SS; March. 13Ol@13O2; April 1309Q13.11 May, 1316Q0 lS.17; June, 13.21913S; July, 3.2sd1Sso
 New Orleans, December 17-Cotton steady, sales 11,s5o. Ordinary, ga; good ordinary, II 1-16: low middling, 12 1-16; mid ding, 12 ZIG; good middling 12ss mid ding fair. IS. Receipts, 1s.s29; stock. 31s979.
 Daily Statement.
 alveston-steady middling 12 11-16 sales. 54s; receipts. 17.0Ss; stock, 3Ors4s.
 Mobile-Firm: middling 12A, sales 800. receipts 767, stock 47,047.
 Savannah-Firm: midding 12 5-16, sales 5S9 receipts 95S1. stock 123.Sn.
 Charieston-Firm; middling 12, receipts 33O stock 14e22.
 Wilmington-Steady; middling 121a, re- ceipts G99, stock 22.359.
 Norfolk-Steady; middling 125. receipts 21S, stock 11,530
 Boston--Quiet; midding 12.45. net re- ceipts 161. gross S245.
 PhiIadelphia-Steady; middiing 12s5, re- ceipts 195. stock Sl9s
 St. Louis--Firm; middllng 12A, sales 459. sfx