The Montgomery advertiser., 1904-10-19

away, and buyers were eager purchasers. securing great deal of the days business at unchanged prices. finally paying an ad. vance of l-i6e. sales totaiiing $500, or which 4,eeo are to arrive; market closing steady; middling sLc. Receipts. however continue free at all ports. the day s9sIe' day sos, sos, M against iss.s7s and while ex- ports emain comparatively large, since Friday ic2.sss, last year 1ss.s77. stocks are accommodating at rapid rate, s a' 9., ~. pIl, .bs price of middiing is Nc higher than .nis time last year. The South is In position to carry hsr cotton, however, ana is sware of the fact that the mills of the world VIII take all to be had at paying price, and win be obliged to pay higher rates for their supplies in event of crop running under current estimates of il.00o.o0o and over The spinner is not so comfortable as his actions would indicate. the mere prediction for a special prediction for sudden change to unfavcraeis weather condi,ions 1S lions causing is local market, and 1t is needless to say that they would continue buying were unfavor- able w,i Il CT conditions to remain with us for awhile. Liverpool is very buliish on MLachesters trade outlook, which reflects good trade in the remote parts of the world and the need for ! large cotton crop.
 ing nearing completion, which is most re- markable if a bumper yield is to be gather cd, which usually requires five months to harvest and pickers are eaid to be scarce
 
 ton Is good property. is not pershable and Is worth holding for higher prices.
 c. E. FIERCE q CO.'S COTTON LETTER
 tBy Private Wire from Gibert & Ciay)
 NEW ORLEANS, Oct. 1s.--The downward tendency of the Liverpool market met with check after the opening in the American counted for by the free selling of near months having a more depressing effect than the buying of an equal quantity of more distant positions and the late i'm provement was ascribed to American buying and the good Manchester business. Options declined points in the net result and spots, on sales of 1000 bales, lost 12 points
 Traders in our market evinced distinct unwiiiingness to accept the disappointing foreign markets as a cue to lower prices. With a practically faultiess weather map on It's face the cotton belt was known to be between two disturbances of intensity A storm on the southeast. supposedly moving toward the Atlantics. and severely cold weather on the southern and eastern slope Of the Rocky Mountains. admitting of little doubt of extending into Texas and the terri tories and possibly further. Later forecasts confirmed these views and predicted freez- ing weather for northwest Texas and DOT tions of the territories for tomorrow and further indicated that rains would be quite general in that portion of the belt
 No further inducement was required to cause a large amount of buying, resulting in a substantial advance. Later some real izing caused prices to ease off. but steady market prevailed.
 An estimate of the crop was circulated as emanating from Miss Giles. placing the yield at Il. .3o0.0 900 bales. comparing with an esti- mate from the same source last year of one million bales less The Government weekly was of little significance or effect on values. The weather was stated to have been favorable for picking throughout the week and the harvesting has made rapid progress In Texas thsre no top crop, and the yield below the average. but better than expected. Georgia reports better than average yield. In Alabama and Mississippi improvement Is shown, and for Oklahoma and Indian Territory report a good yield of good quality Some scarcity of pickers was noted.
 The improvement in options was promptly followed by a more active inquiry for spot cotton. resulting in very satisfactory busi- ness. The exceedingly large port receipts necessarily deserve consideration. but on ac- count of impending unsettled weather, causes nervous fluctuatia . of note very probable.