The Montgomery advertiser., 1904-01-13

uBy Private Wire From Gfberf q clayl
 MEW ORLEANS. Jan. i2.-After all the
 the English market acted exactly to the con
 uary today. registsring declines in both de- Partmenfs. whereas further advance was
 terializatiou would have been more consist
 ent with the previous action of American mar
 keis Cables attributed the setback to heavy
 operators though Phiiadeiphia Interests were
 said to have bought freely while the pres
 sure vas on. As no startling developments
 market found sufficient cause for steadiness in
 the rumor that Japan had accepted Russia's proposals and war had been averted. Trading
 vms was setiys; but speculative demand quite out
 maintained Traders of both persuasions would
 welcome prompt settlement of the Far East
 ern situation as its disturbing influence ex-
 tends to both sides of the market With that
 feature eliminated. attention will be centered on the movement and regular trade demand from which better idea could be formed as ters stand. sentiment is extremely buliish and
 It will require proof conclusive in the opposite direction to change this faith
 Caldwell, Ward 6 Co.'S Cotton Letter.
 MONTGOMERY. Ala, Jan I2.-on the very
 poor cables this morning from Liverpool and
 the threatening war news the New York mar
 ket opened down and sold of 2o@25 points.
 but at the decline buying was free and the
 advance soon started. July selling up to with
 in point of the high prices of Dec. 2a The
 recent traders in this market are very quick 70 take prohts or losses 50 that there is no
 accumulation of either long or short interest
 There fs strong buying power every decline
 and as the advance takes place courage is
 given to bulls who took their profits some
 daily indicate e falling of in receipts and early exhaustion of stocks that are being held Reports today of very reliable nature point than 2.7oo. GOO bales which is more than 500 900 bales less than last year. It must be recognized this Is a bull market and purchases
 made on every soft spot win pay handsomely. C-'S---'' --"~-d & Co.'S Cotton Letter. NEW ORLEANS, Jan. i2-Liverpol was in- huenced unfavorably by the bullish Texas statement, the unsettled condition of affairs in
 the East and heavy selling by the continent. Egypt and America Our market responded by opening IoQi3 points lower and declined g @l2 additional shortly after on realizing. Later cables from Paris reported a more peace- ful outlook in the Russian-Japanese situa- ton and tho news ticker said Japan was re- ported to have accepted Russia's proposals
 When this became known generally a buying wave set In, causing an advance of 33 points 1 from the bottom. Spots. however, were neg lected and did not respond. Near the close New York reported that the Allan Steamship Line were refusing freight by order of the Eu- ropean manager. who said war seemed to be inevitable and may be declared at any moment
 The dissemination to the above information making the net loss 3H5 points on the day
 The movement shows signs of decreasing and the estimate for the half week reports at the I3 leading Interior towns is 53. 3.ooo against 42. 900 for the same time last year. As sen- timent is extremely optimistic and as the cables before noon were more peaceful in referring to the Eastern imbroglio. fresh buy ing came in and quickly established a sharp advance. 1t was apparent, though, that the enthusiasm was confined entirely to deliveries, because exporters were apathetic showing no l change in prices. The latest advices received near the close would seem to infer that war was inevitable between Russia and Japan and values naturally eased of considerably While | the feiing is strongly in favor of cotton as long as the uncertainty as to the outcome of the difficulty between Russia and Japan exists, there will be frequent and wide fuc- tuations; therefore we deem 1t advisabie Id operate on conservative lines for the present.