The Birmingham age-herald., 1903-04-02
FRESH PRESSURE
 FROM THE BEARS Cotton Traders looked Forward to a BuIIish Statement CLOSED STEADY BUT OFF A Disappointment Was Had in the Governments Ginning Report, Which Points to Commercial Crop
 of 11,o7s,ss2 Bales.
CLOSED STEADY BUT OFF

New York, April 1.-The cotton market opened easy at unchanged prices to de- cline of points under disappointing Liverpool cables, which were due to show an advance of 1 to points, but were but 2m4 points higher at the time of the New York opening Following the initial decline, however. the market ral- lied from to points as a result of covering based on the lighter receipts es- timated for the day and the light estimate for tomorrow's arrivals at Houston. But as prices reached the closing level of yes- terday there was considerable liquidation and the market hung steadily for time then shortly after midday broke sharply on the publication of the government gin- ners report. This report figured as an in- luence in both yesterdays market and in the early market today, the trade gen orally looking forward to bullish state ment. The actual figures, however, proved disappointing, they pointed to com mercial crop of Ss2 bales, or 10S2L16S bales of 800 pounds Owing to previous in- accuracies natural to such an estimate the trade was inclined to make an allow ance of a varying amount for under esti-
  given a very bearish interpreta ton. The immediate effect on the market was a break of from to g. and this attracted fresh pressure from the bears, which was later increased to a matter of 10 @17 points below the final figures Of yes terday But the port receipts for the day were light being only S,S17 bales against 13, 4S5 last year, and the exports heavy, footing up 30,17S bales. This feature in connection with uncertainty as to the view Liverpool would take of the crop report, caused some uneasiness among the shorts, and the market recovered a few points of it's loss, closing steady at a net decline of 9@15 points, which was little more than sufficient to offset the gain of yesterday. Total sales futures estimated 00O bales.
 New York, April 1.-Cotton quiet; mid ding. 990 net receipts, 50; gross receipts 1884; sales 30; stock, 5f AS; exports, Great Britain 163G.
 Total today at all seaports, net receipts, S422; exports Great Britain, 1852; contin- ent, 22,226; stock 406.033
 Consolidated at all seaports, net re- ceipts, 8359S; exports, Great Britain, 57, 033 France, 16,0l6 continent, 76,285.
 Total since September l at all seaports, net receipts, 7,061, SIP; exports, Great Brit ain. 2.4SO,372; France, 722 424; continent 2,596,571.
 New Orl.ano Cotton Market.
 New Orleans April Tn the spot cot ton market the trading done was of the imperative order character, factors re- fusing to sell unless full board prices were obtained. The census bureau re- port of the crop which is regarded by many as bearish apparently had no effect on the holders of spot cotton in this market Sales, 19,O00 bales, including 200 to arrive Quotations unchanged.
 In the future market today the bulls met with a bitter disappointment The census bureau report on the cotton pro duction of 1902 instead of being bullish as had been expected was for a time generally regarded as bearish and prices a few moments after the report had been read dropped 10 to 15 points on very light trading. Previous to the reading of the census report, prices were at a decline on realizing by those who had bought at the advance of yesterday. The board at the close showed net losses of B to IT points on old and 10 points on the new crop months.
 New Orleans, April 1.-Cotton futures quiet April, 9.59a9.61; May. 9.6Od9.61 June, 9.63d9 .65 July, 9.666t9 G. August, g. .3369. .34; September, S.64GIS. 65; October, 8 25dS 26; November, S.14QS.16; December, s. .14dS 15.