The Birmingham age-herald., 1904-03-02
EFFORT ID SCALP MODERATE TURNS Bull Leader Keeps New York
 Traders Guessing BUYS AND SELLS BY TURNS Short Side of the Market Seemed to Have Little Confidence and the
 Trading Became Narrow
 and Irregular.
BUYS AND SELLS BY TURNS

New York, March 1.-The cotton market opened steady at a decline of 6 to 25 points. due to liquidation and room sell ing as a result of disappointing cables, and an idea that the market was due to meet with a reaction following the recent advances. There was. however. little confidence on the short side and the market developed into very narrow and irregular straights, in which the chief operations appeared to be for profession al account and to reflect nothing more than the efforts of this contingent to scalp moderate turns.
 Prices fuctuated within narrow limits. At the lowest, March sold at H.SO. the opening figure, while May and July reach ed IS .25, this being a net decline of from 16 to 25 points At the best July sold at 15 4s, May Il 51 and March 1612, net gains of to 2 points. The close was steady at a decline of IS points to an advance of points, the gains being on the new crop positions.
 The feature of the day was perhaps the attitude of the local bull leader. He heartily bought and sold by turns, adding materially to the irregularity of the mar ket, and leading to various predictions as to his real intentions, some claiming that he sold more than he bought and that the intervals of firmness were manipula- ted for the, purpose of making a better selling basis.
 At first the trade was evidently disposed to look for a reaction, and in many quar- ters it was believed that noting the light receipts estimates for the day, and at New Orleans and at Houston for tomor- row, the big bull leaders would not op- pose a moderate reaction. On every sign of material weakness, however, support developed from one source or another, and rallies were prompt.
 The Galveston estimate for tomorrow ran heavier, but was explained by pri- vate dispatch as to the movement of cot- ton for export. it being said that Gal weston will ship out 2500O bales during the week. About 5000 bales were exported from there today, and the total exports for the day ran somewhat over recent figures while private advices received from the south indicated rather a better spot demand from foreign sources. Gen orally speaking, however, the spot mar kets are reported quiet
 Sales were estimated at 100000 bales. Receipts at the ports today were 10, ,99O bales, against s750 last week and 29, ,556 last year. For the week 55000 bales, against 64s71 last week and 146575 last year. Today's receipts at New Orleans were 11s3 bales against s55S last year, and at Houston 2457 bales against 59s4 last year.
 New York. March 1.--Cotton quiet, mid ding 15.eoc; net receipts 100 gross D5o4; sales 9400; stock sos43; exports Great Brit ain 255; continent $50.
 Total today at all seaports, net receipts 1990; exports Great Britain 23,5S3; France -; continent 651; stock 6s2 PAP.
 Consolidated at all seaports, net 32,293; exports Great Britain 27,604; France --; continent 1607S; Mexico 1903.
 Total since September 1 at all seaports. net receipts 640S. .456; exports Great Brit ain 1942.244 France 6S4.611; continent D. 217055; Japan 37,1sS; Mexico 23.971.