The Birmingham age-herald., 1904-03-01
EXCITEMENT IN
 COTTON TRADING Prospect of Famine Later on
 Restricted Selling OPENS STEADY WITH GAINS Wire and Commission Houses Seemed to Have Good Supply of Buying
 Orders on Hand Dur
 Ing the Day.
OPENS STEADY WITH GAINS

New York, February 29.-The cotton market opeped strong at an advance or % to ss points with trading active and attended by considerable excitement The Initial gain was rather more than due on the cables and semed to be of a more general character than that recently noted. In fact the buying could be traced to no special source. Wire houses ana commission houses generally seemed to have a good supply of buying orders lead ing to A belief that the demand was in response to the strong statistical situa- ton as reflected by the weekend visible supply statement, which undoubtedly re- ceiyed a wide circulation over sunday and while there was heavy realizing rom the south, this simply rendered the mar ket rather irregular as the general un- dertone was very firm
 Receipts for the day were rather heavier, but the estimates for tomorrow showed a continued light movement ana the prospect of a cotton famine later in inc season seemed to restrict selling even for profits At any rate the advance car ried March to 15.01 and May and July 10 15.1. These prices represented an ao- vance of 53 to 63 points on the posltions named, and were followed by further lighter demand, and reaction under realizing of from 20 to 30 points. After this. there was a period of irreguality. There seemed little pressure to sell.
 On the other hand demand seemed about exhausted and fluctuations consequently ruled irregular until just before the close when the local bull leader, just returned from Chicago, entered the ring and piu- ding progressively, soon forced March up to 15.06, and July to 15. A. The close was steady at practically the best prices and net 19 to GA points higher Sales were es- timated at 700,000 bales.
 The late advance was aided by the firm ness of the southern spot markets wnich reported a full response to the advances in futures, and a prominent Philadelphia spot interest was reported to be heavy buyer as well as the bull leader. Ex- ports are running very light, and while spot markets reflect the bullish views or sentiment among hilders, the demand for actual cotton does not appear to be par ticularly satisfactory. Interior holders are said in some instances to be hedging their supplies in the future market Re- ceipts at the ports today, 15,215 bales, against 99S2 last week and 2S,772 last year. For the week, 55,0O0, against 64,S71 last week, and 146575 last year. Todays receipts at New Orleans were 67S5, against p273 last year, and at Houston 1870, against 6477 last year.
 New York, February 29.-Cotton quiet middling, IS. s5; gross receipts S.349; sales, 100; stock, 77,865; continent, 150.
 # Totat today, net receipts, 15215; exports Great Britain, 2.169; continent, 150; stock, 643345
 Consolidated, net receipts. 21,247; ex- ports Great Britain, 4O21; continent 15.- 42S Mexico, 1,60a
 Total since September l. net receipts, (. 397, 40; exports Great Britain 1,91S,66l; France, 6S4, 611; Japan. S7,1Ss; Mexico, 23. : 971 continent, -.