The Birmingham age-herald., 1903-01-23
COTTON MARKET
 SAGG|NG BADLY Start Was Brisk But Soon
 Dropped Backward LARGER RECEIPTS A CAUSE Buying Orders Were Not of Large Vol ume and Declines of to Points FoIlowed-A Slight Rally
 at the Close.
LARGER RECEIPTS A CAUSE

New York, January 22.-The cotton market opened st eady at an advance of to points. cables being strong with large activity reported at Liverpool on ac- count of Egyptian spectators, some plac- ing the total of their purchases in the English market at 6O,0O0 bales. There was further advance of l to points on the more active positions, when it became ap parent that public buying orders were not of large volume and the market com menced to sag, and a decline of 5 to ' points from the top ensued. The weakness was increased by indications that re- celpts would exceed early estimates. The early estimates pointed to port receipts of 5000 bales for the day; later estimates | increased the figure to 29,0O0; the actual total was 2S,53S bales against S2,111 bales last year. The amount of cotton to be brought Into sight this week is various " estimated at from 29O,O0o to SSO. OOOO, close estimates being impossible by req son of the fact that a large estimate of cotton is prepared for shipment abroad, without certainty as to date of shipment. The insight this week will run against -ooOoO tnC COtiCSpOtutnB Ntek lust gtdls PIP 962 in 1901 and 219, ,139 in 1900 The selling was assisted by encouraging reports from Fall River and the dry goods trade with certain lines of cotton goods reported to be scarce and tending upward. The mar ket on this news rallied and closed quiet at 1 to points advance. Total sales of futures 225,0O0 bales.
 New York, January 22.-Cotton quiet: middling, S.95c; net receipts, 21S gross re- ceipts. 5919; sales. 1900; stock, 167 76S; ex- ports to Great Britain, 6261.
 Total today at all seaports: Net re- celpts, 2S 53S; exports to Great Britain. 62S1 exports to the continent, 13,621; stock, 1,032, ,SS6.
 Consolidated at all seaports: Net re- ceipts 173,201; exports to Great Britain, G6,753; exports to France, 1S,113; exports to the continent 61 ,763.
 Total since September at all seaports: Net receipts 5,615, ,7sS exports to Great Britain. 1.749.6 694 exports to France 493,- 679; exports to the continent, 1,775176.
 New Orieans Cotton Market.
 New Orleans. January 22.-The market for spot cotton opened with a good de- mand and firm this morning. under the influence of gain of 4-100d at Liverpool. but as soon as the character of the ad-
  termined and it became known that the English market had been misled as to reported heavy failure. the enquiry slackened off and buyers became much more conservative in their movements. Sales 64O0 bales, including 2S00 to arrive. Quotations unchanged
 E In the contract market, in response to Liverpool prices opened to points up, but it soon transpired that Liver [ pool had been influenced by rumole of "a heavy failure in New Orleans involv- ing 30.000 bales of spot ootton," and when the falsty of the rumor had been es- tablished prices on the other side began to ease off and this market fell into line. working down 1 to roints. After the second call prices moved up 5 points on all active positions. During the late af- ternoon there was some little sagging and losses of 1 to ? points were noticed. When the gong finally sounded the net result for the day showed declines of to points on the various positions.
 The failure of T. E. French, cotton buyer, was announced today. The trade looks upon the failure as of small im- portance
 New Orleans, January 22.-Cotton steady, sales 640O ordinary 5-16 good ordinary 13-16 low middling SIS, mid ding SA, good middling 93-16, middlirg fair 97s, receipts 7433, stock 575, 494
 New Orleans. January 22.-Cotton fu- lures steady: January S.1@8.72, February &. .69@S. .72 March S.79IS 80, April s.S46tS S6, May S.92MS.93. June s.96@S.9s July 9.03(D 904, August s.67as. .69, September S.26dS. 30.