New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-02-09
DECLINE OF Sc A BALE.
Recovery after Wild Punctuation in
COttOn-Nc7C-OrleanS Buying.

Wild fluctuations in the course Of which some
of the active futures declined more than IS a bale
and recovered two-thirds OF the loss. occurred in
the cotton market yesterday.
While the serious news from the Far East had
naturally a depressing influence. the relative firm
ness at Liverpool caused rather frmer opening
in the local market than had been expected. and
first prices were II TO q points higher on the
active months. Following this there a further
advance. carrying May UP to 14s5 and July TO
1870 a gain Of 50 Il points. with the shorts
active buyers. but toward the end of the first half
hour tremendous liquidation from outside sources
set In. and the market I'm less tran ten minutes
had broken nearly full cent 600 points, from the
best prices Of the morning
Around II o'clock the most sensational changes
os this season occurred. May. which had sold
down 1880. jumped 10 1880 and broke TO l3l4
while July. which had been depressed 20 ID 50.
rallied to 13s2 and then broke 10 1919 ali inside
OF twenty minutes
Around noon the market rallied. March had de-
Cned TO 1921. May TO 1890 and July 20 1905 these
being respectively net losses from the best prices
Of the morning Of 49, I23 and l32 points. At this
level there was considerable covering. and by
O'Clock this buying and on vigorous bull sup
port the market had recovered to about Saturdays
closing prices The New-Orleans market followed
the local advance and sent buying orders here.
Later there was another moderate down turn
under liquidation by buyers on the early break;
but in the late trading there was aggressive bun
,na1rket was dnaIIv stsadv, AZ net decline OF .
to Is points. The days sales were estimated at
1tnO0a bales One Of tho factors in the late rally
was the report that the stock 81 cotton in Balt-
more as well as the supply Of cotton goods there.
had been destroyed in the great fire.
New orleans Feb S.-The hopelessness ~ the
Far Eastern situation attrL-e@d unusual attention
10 the cotton market to-day. but the opening was
tame. the tone being steady and prices from II to
20 points higher than Saturdays close. II was n
waiting market and what little selling there was
showed March al a decline % - points May II ana
July 43 During the noon hour. however. prices
made "a sensational reaction Of from 80 10 - points
from the lowest levels Of the day. The conditions
az the last few days reversed and there were
BUYERS than sellers in the market. shorts
covered freely and helped send values The bull
leader aggressive bidder and buyer.
Liverpool Feb. S-The cottoa market. after open
ing weak and irregular. declined about 90 points.
Ii then rallied. and during tho morning May and
June gained 30 from the lowest, and July and
August = points In the afternoon, aided by New
York cables. prices advanced rapidly. with May
and June touching 49, being 65 up from the lowest
prices OF the morning large business was done
amid considerable excitement in the late session
bad slump in I'm the late session. on depress-
ing New-York advices. May and June touching
and the market closing "a TO % points under
Saturdays nnal quotations.