The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1904-04-08
MARKET
SCORES ADVANCE
Manchester Becoming More
Active Buyer OF Spots
BULLlSH TONE IS EVIDENT
Still Bull Speculation Appears to Be
Restricted BY the Fear of Further
Curtailment in the Spin
ming Circles.
.BULLISH TONE IS EVIDENT

New York. April 1.-THE cotton market
opened firm at an advance of 10 to 20
points on covering and New Orleans buy
ing orders following a very firm set of
English cables and indications that Man
chester was becoming more active buy
err of spot cotton. These cables were ac-
companied by private adviees, claiming
that Manchester had been selling goods
ahead without hedging their require
ments in the cotton market In anticipa-
ton of decline. This and the continued
light receipts seemed to give a very bull
fish tone to local sentiment early, and
the room showed a disposition to buy
on the call. For the first half hour or so
the market ruled very firm with May
selling up to 149S and July to 1921, net
gains of nearly 80 points, while the new
crop months, in spite of the favorable
weather reports. were sustained by buy
ing credited to foreign spinners who
were believed to be insuring their early
season supplies as a result of the strong
statistical position indicated by the cur
rent light receipts. The demand appeared
to be limited, however, and many of the
conservative local element were inclined
to believe the advance too rapid. This
led to considerable realizing which Inn
parted a downward tendency to the mar
lxet. The light estimates for tomorrows
receipts at leading points particularly
at Houston and the small interior re-
ceipts brought about frequent intervals
of steadiness and partial recoveries, but
in the afternoon, offerings became more
aggressive, particularly for the account
of a certain local spot with New Eng
land connections.
This firm offered block of five thous-
and July at 1894 and finding no takers at
tackled the market vigorously. selling 1t
all the way don to 1880. This pressure
removed the market rallied a few points,
and from a net decline Of a IA points,
closed quiet but steady at an advance of
one point on the spot month, to de-
cline of points.
Sales were estimated at 100000 bales of
which represented professional trading
although 1t appeared that the early firm
ness attracted some buying through COM
mission houses. In a general way the
news of the day was considered bullish.
Large clearances were reported out OF
the local stock shipments so far amount
ing about 100000 bales, while freight
room is said to be engaged for ten thous-
and more, and the exports for the day
were lust about four times the size of
port receipts. Still bull speculation ap-
pears to be restricted by the fear or
further curtailment in the spinning cir
cles, and the continued apathy OF the
cotton goods market although In this
connection some export business Is re-
ported as having been contaminated yes
terday.
Estimated receipts at the ports today
were $500 bales against 9,762 last week
and 10,S12 last year.For the week, 4o'-
600 against s., 342 last week, and IL 44S last
year Today's receipts at New orleans
were 9e3 bales against 5,7S6 last year ana
at Houston 500 bales against l5o4 last
year.
New York, April 7.-Cotton dull, mid
ding. 1900; net receipts, 49, gross re-
ceipts, 469S: sales, 200; stock, 1OS724; ex-
ports to Great Britain, 5532; exports TO
the continent, 1874.
Total today: Net receipts, $500; exports
to Great Britain, $685. exports to the con-
tinent, 1854; stock, 513,904.
Consolidated: Net receipts, 2,SS9; ex-
ports to Great Britain, 1896 exports to
the continent, 1910; exports to Japan,
$50.
Total since September 1: Net receipts,
6.741, 1852; exports to Great Britain $685.
1853: exports to France, 661, 704; exports to
the continent, $4,000; exports to Japan,
80, 271; exports TO Mexico, 25,4n