The Birmingham age-herald., 1903-12-08
RENEW WE'D DEMAND
 CAUSES 4 RALLY Cotton Opens Easy at Decline
 Under Realizing PRICES TURNED DOWNWARD Final Tone Is Barely Steady, With Quotations at Net Loss of 22 to 23 Points-saIes Estimated
 at 5oo.ooo Bales.
PRICES TURNED DOWNWARD

New Ycsk December 1.-The cotton market opened easy at decline of 70D B points under realizing and room selling on the reaction theory. which was encour- aged by the lower Liverpool cables and the outlook for continued large receipts.
 After little further loss on the call. however, the market was rallied by re- newal of good demand from various sources with the local bull leader and in- terests representings according to popular belief, New England people, good buyers, the former taking large blocks of Janu- ary around 12.s6a12.S7. This buying was enough to impart steadier tone to the market, as the bears had been rendered timid by the recent spectacular develop ment' and before the session was more than half an hour old, the decline had been cut down to a matter of or points on the active months. At this point. of ferings became slightly heavier and prices advanced from the south, indicat- tug that spot people were buying Up the lower grades with the intention of deal 1 ing on contract, as the estimates of re- ceipts at the leading points tomorrow showed an outlook for a heavy movement This led to a renewal of the downward tendency. which continued during the balance of the session, with the market at just about the lowest of the session.
 The final tone was barely steady with prices at a net loss of % to 2s points Sales were estimated at 5O0,OOO bales. Trad ing during the day was fair at times but generally speaking was less than recent l lN, 1uctna ting to ton of conservatism, pending some in- dication of the effect on consumers and growers of the recent report Some private advices during the day indicated that New England mills were buying more freely, but in this respect the news was conflicting. Southern spot markets were generally unchanged to Hse lower and the New York market was 15 points lower.
 Estimated receipts at port today. 5SS5l. against 64697 last week and 54373 last year; for the week. 35O.000, against 373 $50 last week and 261,7s4 last year Today's receipts at New Orleans were 15,S22 against 90S5 last year. and at Houston IA 1Ss- against 6So1 last year.
 New York, December 7..-Cotton steady; middling, 12.5O: net receipts. HAS gross 559S; sales, S6S7: stock, 6S229.
 Total today at all seaports: Net receipts | 53,351; exports to Great Britain. 34 4S99; to France, S145 continent, 19,173; Mexico 1925; stock. S14.9SO
 Consolidated at all seaports: Net re- ceirts, 10S 256; exports to Great Britain, 35 352 to France. 15.S45; to continent co., 760: Japan 1O52: Mexico, 1925.
 Total since September 1 at all seaports: Net receipts. 4,114361 exports to Great Britain. 1.245.69l to France 45S. 456; con tinent, 12OS,7S7; Japan. 12,631 Mexico 6953
 Nrto
 New Orleans, December 1.-The spot cot ton market was easier and lower with a limited demand. The few sales made were at one-quarter to three-eights lower than Saturdays board figures. Sales 1850 bales including $50 to arrive; delivered on con tracts S00 Quotations one-quarter lower Futures al the opening were from IA to r points lower influenced by New York and Liverpool. Private wire housese were heavy sellers at the opening. Their sell ing was taken to be profit taking by longs who were getting out in anticipation of a slump. There was also some short selling, some of which was said to come from New York. One of the most notice table features was the absence of the great volume of buying orders from the country that has characterized the mar llet every day for some time Country longs were profit takers 10 an extent, but the market showed great strength under the selling, recovering time and again af- ire wide slumps from the opening figures These recoveries were aided by profit talk ing by shorts, who scalped the market freely. In the midst of heavy liuuida- tion, soon after the opening. a prominent bull leader supported the market by dih- ding 1250 for 5000 January. In the trad ing January advanced 19 points above the opening to 12.52 and fell off to 12.1S; March gained points to 12.S1, and declined to 12.46; May advanced 8 points to 2.9s, and fell to 12.57; July advanced five points to B cents and dropped to 1264.
 Prices showed quick and fairly wide l fluctuations At all times, however they were we'll below the closing Saturday. The trading was heavy. The market closed easy and within point or two of the lowest level of the day. Net losses were December 45, January 42 and the other positions 40 to fl points.
 New Orleans. December 7.-Cotton fu- i lures. barely steady. December, 12O7M 12.09; January, 121Sd1219; February, f2 33m 1236; March. 12 476t12 4s; April. 12. 53@12. .55: May. 12.59a12G0; June, 12036p12.o5; July, 1S65@12.67.
 New Orleans. December 7.-Cotton quiet and steady; sales 1850: ordinary, 99-1G. good ordinary, 107s; low middling, 11M; mddlng, 12A; good middlng, 12 ZIG; mid ding fair, 12 13-16. Receipts, 1892; stock, 2H196
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