The Montgomery advertiser., 1904-04-10


 would prove profitable. The estimated port receipts for the day were 1000, against B. 7ss for the same day last year.
 G. E. PIERCE & CO.'S COTTON LETTER.
 (By Private Wire from Gibert 6 Clay.)
 NEW ORLEANS, April s.-The week closes with cotton steady at an elevated level of value notwithstanding the fact that speculation the bull side has been seriously diminished by some shocking re- verses The explanation of this steadiness may be located in the statistics where the movement shows a tendency to conform with the census bureaus calculation of the crop, and the table of spinners' takings may be figured to indicate requirements of consumption considerably in excess of the prospective supply. It is no wonder, therefore, that sentiment remains distinct ly friendly to the staple. especially in this market where the belief prevails that spin ners are pursuing procrastinating policy with the view of demoralizing spot hold CTS and forcing sales at depressed prices. Local holders however. evince no timidity and are apparently confident that their patience will be rewarded.
 As to the near future. the current de- mand for spots will govern fluctuations though if receipts continue on the vanish ing scale, favorable sentiment may be re- flected on the marL t with greater effect c. E. PIERCE 6 CO.'S COTTON LETTER. (By Private Wire from c. w. Lee & Co)
 NEW YORK, April 9.--There is now no doubt that we have run into one of those deadlocks out of which no one knows when we will emerge. The position is a trying one for the time being, but it has this advantage: Where the market starts there is always a movement. If prices start uo after while you may be sure there will De more than a few points in 1t; the same is true of the other side. If the market starts to break, look out. It looks very much as the market did last year and the year of 1900. The shortage carried dfr rarrth
 new cot'o' came in. The present market looks ~-'sh there was some bear ma nipulat would call attention to inc seriou' go in the worlds supplies Of cotton, 3,t, % bales less than last year and SOO,oOO less than two years ago. We also call attention to the new crop. The flood situation in the Mississippi valley is like ly to be factor next week.
 CHICAGO GRAIN AND PROVISIONS.
 CHICAGO. April s.-warmer tempera- ture predicted for Kansas and Nebraska was the most potent influence in the wheat market to-day. The effect was a net loss Of Ike in July. Corn shows a decline of %c. oats %c and provisions from 2oc to soc.
 Higher prices at Liverpool imparted firmness to wheat here at the start Freezing weather in Kansas also brought out some buying orders. Initial quota ions on July were a shade to A 0%c higher at STA to SSb. Sentiment. however, soon turned bearish. the prevailing opinion be- ing that the rain and snow which were de . laying farm operations in the Northwest were of sufficient benefit to winter wheat to more than offset any probable decrease m acreage or spring wheat. At the same time the weather bureau forecasted warmer weather for Kansas and Nebraska This caused additional selling and in the ab- sence of any material support the market became weak The volume of business was comparatively light. IntImations that the government crop report would show A mora favorable condition that generally anticl- pated increased the bearish tendency and prices steadily declined throughout tha day. the closing being practically at the low point. After touching sax July closed at S6 + @ S65s. May ranged between s4is and 9S1s and closed at OK. Clear ances equaled 5000 bushels Primary re- oeipts were 2l4,O00 bushels against 252, 900 year ago.
 Influenced by steady cables and firmnesa in wheat, corn was firm for a short time ever, was for clear skies The prosnscts of an increased movement and improved conditions for seeding soon weakened inc market Little support was in evidence Selling was largely for profit, few traders ! being disposed to sell short In view of ths attitude of the leading long. The market closed weak and near the bottom. July opened % Ac higher at 51% to 5l% and after ranging between 53 and 54 Receipts, | 15S cars 26 contract. Oats ruled weak in sympathy with other grains. The market was firm at the start due to wet weather, but sentiment soon changed and on profit taking a weaiS tone developed. The close was at the low point of the day, July opened H9%c higher at 3S% to SS%, sold between a7M and SS% and closed at STA Receipts.
 The trend in provisions resembled that i of grains. Opening prices were n trifle higher on fair demand, but ofsar,n9s were more liberal than the demand and l the market soon began to decline Iuiv pork closed weak BOG lower at 12. 65: Juiy lower at 6,6Oq6.62h