The Montgomery advertiser., 1904-05-24
FOR FUTURES
KEELING OF NERVOUSNESS AND
 HESITATION AT THE OPENING.
Appearance on the Floor of Southern Leader Scares the Shorts and Sets Them to Covering-Net
 Changes Small.

New York, May 23.-The cotton market opened steady at unchanged prices to q decline of 5 points. There were no ca- bles to sway sentiment either way and while the weather reports over Sunday were generally favorable there was a feeling of nervousness and hesitation. It was believed that the short interest had been considerably reduced on Saturday, hut it was considered that there was still a large short account in the summer months and the report that one of the leading Southern bull operators would be on the floor during .ne morning rend- cred shorts timid. There was no sign of hull support at the opening. however and shortly afterward there was a drive by the bears uncovering some stop loss offerings on the long side and sending Nctober was then fiuctuating around JOSS. net decline of 19 points. At this level. however, the Southern market lead CT made his appearance on the floor and 1ns with the result that prices went off afout 1s points or 12.S1 for July inside of about fifteen minutes. But 1t looked as though the bears were practically the only buyers and after the first few min utes of covering had eliminated some of tho more easily frightened shorts prices reacted to about the opening price under rtalizing by the scalping contingent. The market. however, showed considerable drmness of undertone on the reaction ard in the early afternoon again display VI 13-I2 on active buT support led. 1t was believed. by the Southern operator who was credited with very bullish views as to the situation. The new crop months did not respond fully in the advance. being rendered relatively heavy by the good crop weather, but October rallied to f193. Just before the close there was Tsa,zing II, ,' by room S., i1nss and what looked close was rarely steady with the old crop positions 1 to points lower. Sales estimated at 100000 bales.
 DAILY COTTON MARKET.
 NEW ORLEANS May 2s.--cotton steady. Sales. 2,925. Ordinary. 10 11-16 good 13; good middling 13 5-ie: middling fair, 1s 11-1s. Receipts, 1898; stock. 177,67O.
 .,l, GALyEsToNnstsady; Is,. middiins. la%;
 MOBILE-Nominal; middling, 12%; re- eeipts 12; stock, 3.es3.
 sAvANNAH Easy: middling. 1sA; re-
 CHARLESTON.-Nomin stock 2.545.
 wILMINGTON.--Nomin stock. s.0ss.
 NoEFoLK.-Receipts, so; stock, 4.s25:
 BALTIMORE.-Nomina1 middling. IS. 50;
 BosToN-Dull: middlins. 1s.15: re- cefpts gross 1t4
 PHILADELPHIA. = Steady; middlng, 38. 60s receipts. 2: stock, 1.445.
 ST LoUIs.-Dull; middling. IS; receipts,
 NEW YoRK-Cotton steady; middiing 1S. s5; gross receipts, 304; sales. 3.937; stock s0.2s4; exports. to Great Britain, 2,3s5.
 Total today: Net receipts 4,O27; exports to Great Britain, 2,es9; to continent, s0O stock s13.2
 Consolidated: Net receipts. s.545; exports 10 Great Britain. 3,0s7: to continent, 2s59; ko Mexico. 50.
 Total since Sept 1: Net receipts s.sss,- 1so: exports. to Great Britain, 2.335.s4s: to France, 670,s52: to continent, :.46s. .936; to Japan. 41.936; to Mexico, 25671.
 NEW YORK COTTON FUTURES.
 NEW YORK, May 23.-Following were &e.n 4ho