The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1904-04-07
IT WAS BROAD,
GREATLY VARIED
Evidence of Outside In
terest in Stocks.
COTTON STARTS BADLY
A Net Decline of Eleven to Twenty
Points in Few Minutes, but the
Market Closes Eight to Sew
enteen Points Higher.
(By the Associated Press.)

New York, April 6.-The dry goods mar
ket is generally quiet with the exception
of that part which is interested in export
trade. Buyers are not interested in goods
at present prices, and yet export buyers
are willing to negotiate in the hope of Sc
curing favorable terms. Manufactures are
not fearful of the future, feeling that cot
ton will not warrant concessions.
NEW YORK COTTON.
New York, April 6.-The cotton market
opened easy at a decline of 2d10 points In
spite of rather better cables than expected
and the outlook for continued light re-
ceipts. Immediately after the local open
ing Liverpool, which had shown relative
firmness with private cables attributing
the better tone of buying by spinners,
eased off in keeping with local prices,
while New Orleans also showed weakness.
This caused further bear pressure here
and the opening declines having evidently
uncovered stop orders the market during
the first ten minutes ruled weak, showing
n net decline of about 11120 points. This
level attracted support of a very good
character. Spot interests were fair buy
ers, particularly one large Philadelphia in
terest, and the market developed much
firmer tone. 1t was estimated by well
posted authorities that the curtailmens In
Fall River were not sufficient to down the
weekly requirement of cotton By more
than GOO bales, and with receipts running
so small the room clement were inclined
to look for an advance, particularly in
view of the recent severe decline. AT the
same time every little bulge attracted
selling on the theory that consumption
was being curtailed and fears were also
expressed that the weather report from
the cotton growing country would tend to
loosen the grip of interior holders on the
remnant of their supplies. In a general
way the market continued to advance
however, reaching the highest point just
before the close, when May sold at 14.71
and July at 1893 with the active months
about 10@18 pointe net higher. The close
was steady with the market few points
CT from the tcp in some instance under
realizing, but at net advance of 8 to II
points. Sales of futures were estimated
at 100000 bales. Trading was at no time
more than moderately active and seem
ed to be chiefly for the account of pro-
fessional or trade interests. Commission
houses had a few selling orders at the
opening, but did little afterward beyond
few struggling buying orders on the
advance. New Orleans was also seller
at the opening. but afterwards seemed
an active purchase on the theory. appar-
emily, that the Fall River cprtalments
had been overdiscounted in. view of the
strong statistical position and the re-
markably light movement. Estimates for
tomorrows receipts at leading points were
very light, and the days port receipts
proved much less than expected. amount
ing to only about one-half of the exports,
although the latter were light. The light
movement is leading to reductions in the
estimates for the weeks into sight, which
is now being placed at about $4,000 bales,
against 127, 722 last year
Receipts at the ports today 4,140,
against o.240 last week and 12.772 last
year; for the week $4,000 bales, against
55,342 last week and r. 4S last year. To
days receipts at New Orleans were 1918
bales, against 5,466 last year, and at
Houston 720 bales. against 2,579 last year.
New York, April 6-Cotton spot closed
dull, 10 points lower middling uplands, li90
guf is, sales s05 bales.
Futures opened easy and closed steady.