The Montgomery advertiser., 1904-10-06

last year and year before. put " may ten In amount to be marketed for the week foi- lowing. If such a thing was to come to pass. 1t would come to the surface at . time whe movement of last year ana yea. would probably aneoorsse aggressive ac- tion on the part of the bull clique at New York and in the South.
 LOvEMAN & cos COTTON LETTER.
 (By Private Wire from Miller Co:)
 NEW YORK. Oct. 5.-The revulsion m sentiment. which has taken place since yes erpool had been weak at the bottom prices of the day. Our market had dropped 2o points thus bringing the total decline with in the last two weeks to nearly $I.oo a-baie. while predictions of another half cent or more were heard on every side Receipts were heavy and demand was nil Today we find exporters climbing over one another to buy cotton. New Orleans Is up hc. Au- gusta and Norfolk s-l6c and Savannah Ne Interior towns of Alabama, Mississippi and Texas wagon receipts one-half of what they were week ago. The farmer evil dently made up his mind to take a hand in the game and let thoset who are depre- work without his assistance in the way of adding to the load of receipts. The sharp rally of 70 points which has taken place than the recovery of s2. co per bale out of a sI.oo per bale decline. It is a notice to the world that this crop is going to be mar keted at pfices satisfactory to the producers.
 
 bale to the crop and any one who has raised cotton knows that 1t is much easier to make a 12.ooo,ooo bale crop with a lead pencil sweat ~ of the brow. There is Ss every " indi. G cation that the farmer intends to get close to 10 cents for his crop and that if prices decline below that figure there will be a notable falling off in the movement There are very large engagements to fill for Oc- tober shipments and we do not think there will be any lack of demand during the n e> nrfaA looks. too. as if the recent large short in- terest will be forced to cover before any reaction from the present improvement c. E. PIERCE q CO.'S COTTON LETTER.
 (By Private Wire from Gibert & Clay)
 NEW ORLEANS. Oct. Sour market ex- perienced q good advance today. The pur- chases of shorts were augmented by some fresh buying orders, resulting in q gain of some importance being. recorded in addition to the higher prices observed at the open ing The Liverpool market at the hour of our opening was much better than expect ed and more than maintained the excellent advance until the close. Some cable advices rather inclined to tks belief in a reaction. but the reasons given for these opinions were evidently without sufficient force for the time being Options gained 14 English improved 10 points. Manchester reported a quiet market with cloths firm and yarns steady.
 The semi weekly statement covering the movement at leading interior towns. while showing large receipts stocks were less by about 10000 bales than In 1902. Port re- ceipts are large by all comparisons but the export demand Is on a proportionate scale.
 The most salient cause for the recent advance is the improved spot demad, at q time when the country is a reluctant seller. Exporters have large October commitments to complete, and have only begun to provide for them, so must be active buyers for sev- eral weeks. For this reason the heavy movement is less depressing at the present time than expected by those bearishly in- clined. Speculative interest shows some evi- dence of increasing and may influence prices to some extent, but around present levels we expect to see a continuance of scalpig conditions prevail for some time.