The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1904-03-05
Active Months Then Ad-
vance Fifteen to Sixteen
LATER THEY WEAKEN
Because the Smaller Longs Fear that
the Market is 0yer-bought. A
Net Decline of Seven to
Twelve Points the
Result.
(By the Associated Press.l

New York. March 4.--Drygoods. buying
has been on the limited order and the
market shows no evidence of immediate
increase of business. Jobbers evidently
are determined to proceed very cautiously
and to realize on the cheap goods, which
they have in stock, adding materially
TO their supplies. Jobbers continue busy
both locally and throughout the country.
NEW YORK COTTON.
News York March 4-The cotton mark
ct opened steady at a decline of 10 to 20
points under liquidation following disap-
pointing cables and rather heavier re-
ceipts estimated for the day Selling was
not particularly aggressive however. and
before the call was fairly completed it de-
veloped that there was a fair measure OF
full support in the market so that prices
had been rallied to about the closing
prices of last night This was followed
by considerable irregularity. The local
bull leader appeared to be buying, certain
spot interests also were appearing or
the buying side and as prices worked up
ward the liquidation naturally grew
heavier. the light estimates for tomorrow':s
receipts and the expectation of bullish
visible supply statement tomorrow, helped
to sustain the market as attracting some
outside buying, ard the advance was not
checked until May had reached 1906, and
July 1896. an advance of Is to IS points
On the active months. Then selling be-
came heavier.
Reports from the South still indicating
some export demand did not as rule re-
ect satisfactory spot demand at the
advanced prices and the smaller longs
seemed to fear that after an advance Of
about 115c. in week the market might
have become somewhat overbought and
were consequently inclined to even up
for over Sunday 1t also appeared that
New Orleans interests. which had sent
buying orders here early were selling in
the afternoon and in the ate market
prices weakened to about the opening
figures on the active months.
The final tone was barely steady at n
net decline of to II points on the gen.
eral list. Sales were estimated at $780,
coo bales. There were frequent inter
walls of aggressive bull support during the
session and invariably the market readily
responded but the instant this support
became less active a declining tendency
developed and the day as a whole seem
cd to reflect apprehensions of a reaction
among the smaller operators, though the
big bulls appeared to remain favorable
to still further advances. The end week
statement showed the into sight for the
week slightly larger than estimated early,
hut still some $1,000 bales behind last
years figures.
Receipts at the ports today 14.063 bales
against 12,6J1 last week and 1S,100 last
year. For the week rs 900 bales. against
64,S71 last week and 1855 last year
Today's receipts at New Orleans were
1851 bales against 6.19S last year and at
Houston 2.12S bales. against SAC last year.
NEW YORK. Mar. 4-Cotton spot closed
Quiei, =. points higher. middling uplands
1925, gulf 1880 sales II, bales.
Futures opened steady closed b:. rely steady
Oman (losa High Low