The Montgomery advertiser., 1904-08-17
MARKETS FOR FUTURES
COTTON OPENED STEADY AT AN ADVANCE.
Better Cables Than Were Looked For De yeloped. and Report of Too Much Rain Encouraged Pre-
 ciyifatipu.

NEW YORK, August 16.-The cotton market opened steady at an advance of @ is points in response to better cables than looked for, further talk of too much rain in the eastern belt encouraged by the np- pearance of moderate precipitation at two or three points on. the early map. and ap- prehensions of a bullish crop report at mid day But the continued increase in the re- eeipts of new cotton as @ reflected % ,h by ,n tne ures reported for the day by Houston. checked New York general buying move- ment and after selling up to an advance of about 6 or points, the market worked back to level two three points over last nights finals. The report of the weather bureau was read at about Il o'clock and proved rather more bullish than had been generally expected. as 1t indicated more or less general deterioration during the week. It was backed up to certain extent by statement issued by local crop au- thority showing a deterioration in the crop Of about per cent the average since July 25. At first the influence of these two reports and the rather disappointing esti- mate for tomorrow's receipts at Houston, where only 1900 to 1.5e0 bales are expect ed. was offset by the liquidation of smaller longs and the market immediately after firmness- Later. however, there was bull support from lower Wall Street and with < nervous shorts covering the market ad- yenced to net gain of about 14GD17 points. The close was steady within a point or two of tho best, or net 12@ Is points higher. Sales were estimated at 125.0Oo bales.
 DAILY COTTON MARKET.
 NEW ORLEANS. August 16. Cotton firm: sales 5a5. Ordinary ! 11-1s; good iordinary. 9; low middllng: 9%: mid ding, 10k; good middling.s 10 9-16: mid ding fair. 10 1s-i6. Receipts, 2ss; stock. 90, s02.
 aALvEsToN-oulet;m middling. 10 if: re- lreipts. 1,5o1; sales, f50: stock. 6.041.
 MoBILE.-Nominai; middling. 10; stock, zsa.
 sAvANNAH-ouie,: midjling 10 15-1s; receipts. 40: stock. 1o.s67
 cHARLEsToN.-Nomi receipts, SPA; wILMINGToN.-N receipts. 2; NORFoLK.-Receipts. 100; stock. A1. 75o.
 BALTIMoRE.-Nominal; middline II; iBtock. 573.
 PHILADELPHIA. = Steady; middling. iao. 90, receipts. ?; stock. 1,59s.. 1 ST LouIS.-Quiet: middling, 10A; re-
 NE ioS Tsss 1sS s'0GE s1e; si07 odnx 10 .s5; gross receipts. 1.i7i sales. 2ssa
 Total today: Net receipts, s1ss; exports. 10 continent. s2; stock, 79,s9s.
 Consolidated; Net receipts, 6,029; exports, to Great Britain, 100: to continent. 1.002.
 Total since Sept l: Net receipts. 7.14o,- ssl; exports, to Great Britain. 2.501. 226; to France, 6ss.139: to continent, 2.595136; to Japan. 4e,1s5: to Mexico. 2T,31o.
 NEW ORLEANS COTTON.
 NEW ORLEANS, August 16-Spot cot Con firmer but not quotably higher. Sales. S25 bales, including 425 to arrive. Quota fions unchanged.
 Futures opened barely steady and prices were point lower to higher than yes ferday's close Later ip the day prices ad- svanced 4@7 points. The weather map was a subject of some dispute, the bulls claim ang that rains in the eastern and central poEtions of the belt meant damage to the crop. while the bears stoutiy maintained that they could do special damage Tex ns was clear enough to suit anyone. The effect of the Government bureau report had been fully discounted before It's read Ing. and it caused but little change in, prices.
 In the trading September opened points higher at 9.61 and finally advanced to 9-eS. The market closed firm. the list show ing net gains of points August and fnl 1 int in thn r,ntlr ron Ina