The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1904-02-02
JULY WENT TO
! SEVENTEEN CENTS
Cotton Opened Strong on Bull
Support and Covering
CABLES MUCH HIGHER
July Did Not Stop at II Cents, But
Added Another 80 Points to the
Advance, Establishing
New Record.
CABLES MUCH HIGHER

New York. February 1.-The cotton mar
ket opened strong at an advance of 5000
points on further bull support and cover
ing induced by higher cables than ex-
pected. and light estimates for the days
receipts The advance carried prices into
new gronud with July selling through the
II cent mark, and attracted heavy profit
taking so that at first there was consid-
cradle irregularity New Orleans showed
particular firmness. however and the
southern bull leaders in connection with
a spot house having New England connec-
lions. absorbed all offerings and soon the
market had advanced until March, sell
ing at 1886. May at H. 20 and July at 1870,
a net gain on these positions of 420l47
points. Then the light estimates for to-
morrow's receipts at Houston and rumors
that the local bull leader was selling large
amounts through brokers, caused a set
back to within a few points of the opening
figures. The estimate for tomorrow's re-
ceipts at Galveston and New Orleans also
were heavy on the average, but in the
face of this the market in the early after
noon started once more to advance with
very bullish messages coming in from
New Orleans, further heavy purchases for
the account of the New Orleans bull lead
ers and some buying for outside account.
promoted by the expectation of a very
bullish census bureau report giving the
amount of cotton ginned to January 49,
which is expected between this and the
18th of the month. The expectation of re-
turns confirming the bull crop estimates
seem more or less general although some
local statisticians figure that the large
state of Texas will have received by the
end of the current week as much cotton
as allotted for the entire crop by the gov
eminent estimates of December 8. The
best prices were reached in the late trad
ing when March sold at 1904, May at 17.46
and July at 1885, gain on these months
of 65m7O points for the day, and of about
cent and a half a pound since the close
of the market on last Friday. July in
New Orleans sold up to the Is cent mark
The market here closed firm at practically
the best with all months up to and includ-
Ing September net AZ to 81 points higher.
October was unchanged and December
only 10 points higher.
Sales were estimated at 100000 bales.
Receipts at the ports today were 163, 292
against 27,273 bales last week, and $1,000
last year. Today's receipts at New Or
leans were $500 against 627S last year and
at Houston 1914 bales against GIT last
year.
New York, February 1-Middling cot
ton, HE; net receipts, %; gross, 1874;
sales. $500; stock, 1872
Total today: Net receipts, 22,6S7; exports
to the continent, S447; stock, 771,O13.
Consolidated: Net receipts $3.50; exports
to Great Britain 13,034 to the continent
16,967
Total since September /: Net receipts,
& $685. 435; exports to Great Britain, 1,7s9, 236;
to France, 5S6,S43; to the continent 2,o2l,-
010; to Japan, 34,409; to Mexico, 2O,246.
Nj, Xnrk Cotton Futures