The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1904-03-29
MARKET WEAK,
COTTON DOWN
Spot Holders Reported as
Being Firm.
STOCK MARKET DULL
In Cotton Liverpools Action Was Such
as to Disappoint the Trade. A
Break Following The Open
ing Prices Which Had
Advanced.
(By the Associated Press.l

New York March 2S-The dry goods
market continues unusually quiet and
the operations of buyers are reduced to
minimum. No further evidences of
willingness to make concessions on the
part of manufacturers are apparent. The
possibility of general curtailment is re-
garded as the most healthy factor in the
situation and may bring about changed
conditions if realized.
NEW YORK COTTON.
New York, March 2S-The cotton
market opened steady at an advance of
points to decline of Is points, and while
at first there was some f1rmness with the
two active months selling point or two
above Saturdays closing figures on the
call the market soon turned easier under
liquidation in the absence of important
bull support New Orleans appeared to
be buying a little July at the opening,
but the cables were rather disappointing
and the reports of extensive curtalments
in manufacturing circles, evidently pro-
NOTED profit taking by outside longs
while the covering of shorts and the de-
mands from fresh buyers were moderate.
With only one or two unimportant
periods OF relative frmness the market
worked steadily downward until midday,
May was selling at 1864 and July 14.S7
with the active months from % to 81
points lower. This Level attracted con-
siderable demand from spot interests and
the room also turned for covering bid
ding prices up about 20 points from the
bottom with May selling around 1892
and July 15.12. The partial recovery
however, attracted still heavier liquida
tion with brokers representing New Or
leans bulls operating in q manner leading
TO 2 belief that the interests in question
was trying to manipulate a better buying
basis There was her demand from
spot people. but in a general way the
market in the afternoon was weak. reach
ing about the lowest level of the day
with May selling down to 1854. the previ-
Gus low point, while July touched 14.Si.
The close was within a point or two of
the bottom, ora net loss of "a to SO points.
Estimates for tomorrow's receipts at
leading points were light on the average,
in spite of predictions for larger move
ment this week and advices from the
South indicated great frmness among
holders with some wires asserting that
factors We're looking for Ice. The lower
Liverpool cables were attributed by priv
ate advices to liquidation in the absence
OF demand for spot cotton from spnners,
while the reports of proposed extension
of short time at Manchester also had an
influence. Port receipts for the day were
not half of last years, hut exports were
light Trading was not particularly ac
tive in the local market. Sales being esti-
mated at only 100000 bales and the offer
ings seemed chiefly the result of liquida-
tion on theory that the market was due
TO meet with a reaction after the recent
sharp advance
Receipts at the ports today II ,523 bales.
against 1873 last week, and 28,339 last
year. For the week $1,000 bales, against
SO, 160 last week and 10S.i31 last year.
Todays receipts at New Orleans were
4,077 bales, against S,4S6 last year, and at
Houston 1.402 bales, against 1858 last
year.
New York, Mrrch 28-CottOn spot closed
quiet, 10 points lower; middling uplands, l4.OO
gulf Sis, sales 3 700 bales.