The Montgomery advertiser., 1904-04-20

September. October .... .... .... ....e.54 October November ......6 P
 November December. ..,.t.. ..e. Is
 December January IA
 JanHary-February .... .... ....a.... ..s.is
 n. B. BEERS COTTON LETTER.
 (By Private Wire to Caldwell. ward & Col
 NEW ORLEANS April ls.--As Liverpool
 was better than looked for our market
 10 10 io as asaer aa crop on.
 caused decline of to .. This. though.
 was only temporary because fresh buying on
 the good spot demand caused an advance
 to 21 to 25 from the bottom on near posi-
 tions and 10 to II on late. The weekly
 weather report was construed bearishly by
 from the top. Near the close the stead
 mess of spots was instrumental in again
 advancing futures. making the net gain i6
 points on the new, Exporters claim that the
 demand for spots to-day was healthy. and
 shows that spittnsrs are willing to take hold
 New Orleans wfll export 100000 bales by
 the end of the month. Of the above amount 5000 to Havre.. s5.ooo to Bremen. Antwerp and Baltic. and 6.000 to Genoa. If this is realized 1t will reduce the local stock con- crease the feeling in favor of the article. Nevertheless. as long as there is good spot demand the value of the old crop months will be maintained or enhanced. The new crop options will continue to be ruled
 by weather conditions.
 
 c. E. PIERCE & CO.'S COTTON LETTER. (By Private Wire from Gilbert clay) NEW ORLEANS. April is-Cotton devel- l oped a steadier tsne to-day but prices did l not recover much notwithstanding frequent l efferts, made in that direction. Liverpool called a halt on the downward course and l private cables explained that large i'm l porting house had proceeded to buy in fair quantity at the decline, which started coref- ing by shorts, resulting in an improved mar | ket. Prices fluctuated within marrow hAen Av. 4nrr hrfQfnNaQ | hedged cotton was reported, but the figures | at which such transactions were effected
 were considerably under official spot quota. was hardly percepttble. The weekly crop | report was also without s noticeable influ- | ence. Recent cool weather was said to have | interfered with germination. but farm work l had made excellent progress.
 The general situation of cotton Is heal thfer for the recent severe liquidation, but | it is obvious that for the present intend l ing spot buyers are opposed to effecting pur- | chases on any advance from the prevailing level of price. of which professional bears | are fully cognizant and in view of the freer 1 movement and restricted speculation. great
 pressure is bent on the market by the lat ! ter element on any rising tendency. Under the circumstances a more urgent demand | for actual cotton Is necessary to give prices
 an immediate start toward substantial re- coyery.
 e. E. PIERCE & CO.'S COTTON LETTER | (By Private Wire from C. W. Lee e Co ] | | fed up some to-day without showing much
 demand over and above that from shorts
 to noon. After the weekly report prices ran
 off 10 points and all the recovery was lost 1 Then later on things steadied some and July | fact that ten days ago July was Is cents 1 and last week 14h, the rally from 13 so
 to 14.o7 is not healthy reaction. As 2 | rally appears 1t might be called rather l feeble. The weekly report in the Soutf | showed a backward season. Unless there 1 Is a striking change in the immediate future
 there is not likely to be very much new cot ton in August For the present, however | it is a question whether the cotton on hand
 is not enough to go around. We don't know | unless foreigners buy more cotton than they
 are taking now 1t will be hard to bull cot | getting important October is two cents 1 and more under July If we get any bad
 news october will rally: On a further
 break we would buy october. but see noth- ing to cause buying of July as yet. Market | not very good
 Caldwell, Ward & Co.'S Mart ct Letter. 1 NEW YORK, April 1s-Some buying for
 European account and short covering on | the theory that recent decline entitled a l market to a fair reaction, caused the mar ] ket to open firm, although trading was not | particularly active. After shading off some
 the market again advanced on short cover l ing and expectation of a bullish weekly re- | port. which turned out to be as expected and I as Is usually the case. sales to realize were l made on us puDllcdtlOn The ali lHhpoTt- | ant news of the day, however. were the per- | sistence of adYiees from New Orleans as to l demand for spots. which, after all, is bound | to rule the price of the remainder of the | old crop. There was some talk of a May corner in New Orleans market based on the
 attitude of a certain prominent operator who made an offer in New Orleans t0 buy | 30 poo bales May cotton and sell 50,000 bales
 July cotton at a difference of 47 points, in- | dicatlng that May tenders would find the | berth. This offer sounded like a grand
 stand play. but the recent spurt in exports | 5000 bales for the week so far. makes the | offer look genuine. Port receipts to-day | were 1s,167, against 1s,sS2 last year. Liver | pool is due to come up tomorrow
 NEW YORK COFFEE AND SUGAR. | NEW YORK, April '1s.-Coffee--Spot Rio
 steady: No. invoice. 7h. Mild steady;
 susar-Raw nominal; fair refining. 8 l. 1e@S%: centrifugal 9s test. s-ls; mo | lasses sugar. 2 13-1692%. Refined quiet. l Coffee futures opened steady points | lower under liquidation from lower European ' cables and continued full primary receipts
 Transactions arter the call were largely ir , the nature of switches from the near to the l uyNth nf