The Montgomery advertiser., 1904-10-23
LIVERPOOL COTTON STATISTICS.
LOyEMAN & CO.'S COTTON LETTER.

NEW ORLEANS. Oct. 22.-All markets were influenced to a lower level today by discouraged longs selling out. one firm re- ported to have dumped about 50.00O bales shortly after opening, which was about points lower than closing of yesterday. There was absorbing of all offerings in the barly hours, but professional work succeed d in reaching small stop orders on the way down, which weakened market December ceiling low as .35, compared with 9. 54 last night and .S4 which was closing last Sat ufday. Highest week being 9.s0. The heavy movement up to yesterday. the preva- lence Of favorable crop weather and expec- iation of a bsarish ginners' census report, coupled with the easier tendency of South srn spots. result of stocks accumulat- Ing. are causes, which disheartened longs and brought about the decline. The market has had a good purging. the weak. heavy, concentrated long interest having been elim- mated. as we'll as the weak scattered long Interest which has been wiped out by the reaching of exhaust limits, In the mean lime. shorts instead of exercising caution, rave vent to their feelings and increased Eheir lines by hammeTing the market un- nlsrcifully. Such q situation can only be af benefit to the position of the staple and "a market Is subject to reactions from this ieyei on first appearance of any favorable feature in the way of falling off in receipts when compared with last year. or a revival h the demand for spots or a sudden change n weather conditions. which is possible kt any moment shorts might find them selves in an awkward position before they healizs it. Probably they are banking on market breaking further on publishing of he ginners' report. which might permit them to escape, but the trade has every reason to expect twice much cotton Einned to October 18th ginned same late last year, crop having been so much earlier, weather exceptionally favorable. Some s.ss5 bales were added to worlds visible supply during the past week. but lhia was a small increase when we consider hat amount brought into sight was 120.- 200 larger than corresponding week one year Igo. spinners having taken 272,000 bales, against 1s1.000 last year; since Sept. 1st t.0e4, 600. compared with S71.0 900. In addition 70 this there is shipboard at all ports gaiting shipment to Europe 274,633 against s2s.sls. which indicates a good indirect de- mand from all quarters of the world The trade consumed last years crop of 10,011O00 bales. and 91,00D of reserve. at 12 15-100c, while middling today is 91sc.
 .. E. PIERCE q CO.'S COTTON LETTER.
 NEW ORLEANS, oct. 22.-The South pffering more freely and importers the prin- tipai sellers were the causes given for the lays decline in Liverpool, which. however. sas barely in excess of expectations, options Osing to points and spots, on sales of LOGO bales, declined points.
 Our market opened at slight decline Trading very rberaI lines and the buyfng power suffieed to hold fluctuations within marrow ranges. although some large docks of cotton were sold. The selling pre- umably emanated from wearied longs and as sustaining influences from satiatad