The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1904-03-24
THE LAST PRICES
OF COTTON BEST
Net Gains of Twenty-Five
to Forty-fiye.
DIXIE MILLS ACTIVE
They Take Cotton at Present Prices
Whenever it is Of Desirable Quail
ity. Union Pacific Still the
Central Figure in
Stocks.
(By the Associated Press.)

New York March 23.-The dry goods
market has presented few new features,
but with firmer tone to the raw ma
terial the seller to have less warrant In
considering the possibility of naming any
concessions. Buyers continue very con-
sentative and do not appear interested ex-
cept for the smallest possible quantities
and for immediate delivery.
NEW YORK COTTON
New York, March 23.-The cotton mar
ket opened easy at decline of to IA
points under liquidation with May selling
down from 1895 to 1890 on the call in
spite of better cables than expected.
There seemed to be considerable selling
thought to be for the account of Wall
Street bear clique and at first fluctuations
while irregular were indicative of lack
of confidence and nervousness. The fact
however, that the call had passed over
without further difficulties helped the
market, and the statement given out by
the president of the exchange to the eff
feet that the losses resulting from the
sully failure fell upon the strongest and
most conservative houses in the trade,
warranting no further apprehensions also
tended to increase confidence and it soon
became evident that the market was
meeting with good support. May ad-
vanced to 1856 and July to 1875, net
gains of about 20 points when rumors that
the New Orleans bulls were in difficult
ties caused a renewal of apprehensions,
the room sold out. there was another
bear drive and prices broke down to
about the low level. Then the light esti-
mate for to-morrow's receipts at Calves
ton, helped the market and there was
half-hearted rally about the closing
prices of yesterday. At this point this be-
came less active and as the afternoon
wore away apprehensions we're felt as to
the developments on the afternoon call.
This point was safely passed. however, and
Immediately afteward it seemed that the
trade became still more confident. There
was an active buying movement by shorts
and room operators with the highest
prices OF the day in the late trading when
May reached 1885 and July 1905 The
close was at the top and firm with the
net advance a matter of 22045 points.
Sales were estimated at 100000 bales.
Port receipts for the day were full and
the estimates for tomorrow at Houston
and New Orleans were larger than ex-
pected. Reports from the south, however,
indicated tina. mills We're active buyers
at present prices whenever cotton of a
desirable grade was offered. The appar-
ent stability of the spot markets and the
impression that the financial difficulties
resulting from the collapse of the recent
bull leaders had been bridged over sue
cessfully seemed to be eXertlng consldera-
BILE influence or sentiment, and the active
buying Immediately preceding the call led
to the idea that the market had been
oversold and that shorts were anxious TO
cover. before the issuance of the final
report of the census bureau on Friday
Receipts at the ports today 14,574 bales,
against 1904 last week. and 15,S43 last
year For the week $4,000 bales. against
64,645 last week. and $3.50 last year To-
days receipts at New Orleans were $3.50
bales against 7.545 last year. and at Hous-
ton 1871 bales, against 1920 last year.
New York. Mr CHI 23-Cotton spot closed
quiet =. points middling uplands HOO,
gulf ,I.2o sales Oil bales.
Futures odened easy and closed firm.