The Birmingham age-herald., 1904-09-02
MORE EXCITEMENT IN COTTON MARKET Market Absorbed the Offerings
 Surprisingly Well RALLIED ABOUT MIDDAY Late Trading Was Quiet and Easy at About the Lowest Prices of the
 Day-The Close Was
 Steady.
 
RALLIED ABOUT MIDDAY

Nv York, September 1.-Cotton showed further excitement and irregularity to- day. The market opened firm at an ad vance of 159H points. which was hardly so much as due by the showing made bv Liverpool, where prices were affected by decreasing crop estimates" an improved demand for spot cotton, and covering by recent sellers, had it's effect.
 According to private cables the English market was fully 25 to 30 American points higher than due on the local close of the previous day. A good demand was attracted by this showing. and some of yesterdays sellers were evidently nerv- ous enough to cover, but there was a continuance of the pressure noted dur ing Wednesdays trading. and after some irregularity the market sold off until the gain had been reduced to a matter of or points on the more active months
 But. everything considered, the market absorbed the offerings surprisingly well, and just around midday rallied on a renewal of bull support and some out side buying, attributed to the influences of a bullish crop estimate by the leader of last winters bull campaign, predict ing a crop of only 10000,000 bales. This was not taken very seriously by local traders, but there was much apprehen- sion as to the probable showing of to- morrow's report, and the smaller shorts at any rate are not over-confdent of a large crop, so that the market responded to the increased demand by advancing to about the opening figures.
 But the buying soon stopped. and the market. acting with continued liquidation by bulls who wanted to dispose of their holdings before the bureau report worked back again, and in the late trading was quiet and easy at about the lowest prices of the day.
 The close was steady at a net advance of to points. Sales were estimated at 100000 bales. According to private ca bles the report of a local newspaper showing the September condition to be TIA per cent or deterioration of per cent from the figures of the same au- thority last month, was one of the fac- tors in advancing prices in that market Here this same report was taken rather bearishly, as forecasting a government report of around S4 per cent. The mar ket toward the close seemed to be get thing about as well evened up as 1t could be prior to the report. although 1t was believed that good sized southern short interest formed on the preceding day, was still outstanding.
 Estimated receipts at the ports today S674 bales against 5934 last week and ITS last year. For the week. 5000 bales, against 32539 last week, and 551S last year. Today's receipts at New Orleans were none against 136 last year, and at Houston 5S1S, against 851 last year.
 
 New York, September 1.-ootton quiet; middling. n.50o; sales, 122b; stock, 25,- 819.
 Total today Net receipts, S674; exports to Great Britain, 13,s3S; exports to France S7i8; exports 10 the continent. 69S0; stock. SS,s4s.
 Consolidated: Net receipts, 63,331 ex- ports to Great Britain, 26,475; exports to France, sS66 exports to the continent 5945
 Total since September |: Net receipts. S674; exports to Great Britain, 13,93S; ex- ports to France, s7l6; exports to the con- tinent, S9S