The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1903-05-27
NEW ORLEANS AGAIN
LED THE ADVANCE
Cotton Market Opened Firm at
a Small Decline
BETTER LIVERPOOL CABLES
Trading, While Fairly Active, Was Not
So Spectacular as During Recent
sessions-sentimen Remains
Nervous and Unsettled.
BETTER LIVERPOOL CABLES

New York, May 26-The cotton market
opened firm at a decline of points to
an advance of II points, the decline being
confined to the spot option. The advances
were due to better Liverpool cables than
expected while the immediate climatic
conditions were favorable, and estimates
for port receipts were heavy as COM
pared with last year. The market con-
tinued to show an advancing tendency.
July reached lips, August 1886 and Sep
TENDER 1902, with the general list 10 to
II points higher, except May, which
showed easness under liquidation by
.'tailors." The advance was again led
by New Orleans, where the bull leader
was reported to be bidding l2 cents for
August. after having forced the market
up from 1888 for that option. AT the
higher levels attained here. however,
there was considerable profit taking and
reaction was brought about of several
points, which was increased when the
summary of the regular weekly report of
the weather bureau was ready, showing
a slightly less unfavorable condition than
expected. When the details OF this were
published, however, 1t was responsible for
another sharp rally, occurring mostly in
the late months, under covering and fresh
buying orders In those positions.
From Il Is, the low point for July. 10. 20
for August and 9.93 for September, the
market was forced back to about the
best point of the day, with the New Eng
d tod fta Ata4s
er, particularly Of the autumn months.
The close was firm at a decline of 20
| points on May, which closed at II 90 to
an advance OF to IS points elsewhere.
/ Total sales futures were estimated at
100000 bales.
Trading during the day, while fairly
active was not so spectacular as during
some sessions recently, though sentiment
remains nervous and unsettled.
Receipts at the port estimated early at
about 5000 bales, turned out considerably
less than expected the figures being only
All bales against 5291 last year. and this
assisted in the late upturn. Estimates for
tomorrow's receipts at leading points
were full.
New York, May 26.-Cotton quiet, mid
ding, II zoe; net receipts, 1853; gross re-
ceipts. $780, sales, 4012; stock 1853 $50; ex-
ports to Great Britain, 500; exports to the
continent, 1898.
Total today: Net receipts, All; exports
to Great Britain, 125; exports to the con-.
tinent, BOAT.
Consolidated: Net receipts. 1SOS7; ex-
ports to Great Britain, 11,216; exports to
the continent, $685.
Total since September /: Net receipts,
7,56O03S exports to Great Britain. 2.7o4,-
! 009; exports to France, 750S62; exports to
the continent, 3,T02,915; exports to Japan,
1906.
New ORLEANS Cotton Market.
New Orleans, May 26.-Spot cotton was
in fair demand, but factors are offering
little at present prices. Some of them
express the belief that cotton will go to
10 cents per pound. Favorable cables, the
rapid advance in Liverpool and the extra
ordinary upward strides In futures
strengthens the views of the holders of
spot cotton Sales, 2l25 bales, including
1l25 to arrive. Quotations unchanged.
FUTURES from the opening of the market
were very active and showed advances
all along the line. July was up five
points, August a. September IA. October
IT, November and December 5. Reahz
ing sales created what offerings there
were. The market showed a great deal
OF strength. 1t was the general expecta-
ton that the weekly government report
"ouiu De decidedly bullish and as usual
traders started In to discount its effect
before the report should be read. The
report, however, was not at all sensation
al and its reading caused scarcely rim
pie about the ring. During the day july
sold up to 1880, August II co. September
Io'So october $50 and December 9.33. I'm
der realizing sales. prices eased off a
rev points the list at the close showing
net gains OF points on July, August IA,
September Il and II points on each of the
active new crop positions.
New Orleans, May 26-Cotton futures
steady; May nominal, June nominal Inv
Y. 40 bid, August 1191@l1 .s2, September
10 3fa10.S6, October 95OG9. 81 November
9.Slq9.33. December 9.31m9. 49,
New Orleans. May 26-Cotton firm; sales
2l21; ordinary 9-16c. good ordinary
10 l-l6c, low middling 10 l3-16c, middline
II 9-l6c, good mddling 12c, middling fair
L ll-l6c; receipts 22oS, stock 77,O1z.