The Birmingham age-herald., 1904-03-03
BULL LEADER BIDS ? RIGHT AND LIFT. Feeling That Market Should Have a Reaction. TENDENCY IS UPWARD Cotton Market Closes Firm at Practl.
 eaIIy the Top of the Session.
 Sales Estimated at
 6oo,ooo Bales.
TENDENCY IS UPWARD

New York, March 2-The cotton market 5opened steady at an advance of 4Qs points
 on scattering demand for both accounts,
 promoted by the rally in the Liverpool
 future market, and the sales of spot cot
 ton reported at unchanged prices. Fut- lures there at first had been disappointing |1y low, but by the hour of the local open ling had advanced to a little better than the expected level and private cables
 describing the large spot sales to demand
 from Manchester spinners, resulting from
 and China. also had bullish effect on local sentiment.
 Still there was at first a general idea that the market should have a reaction
 and demand was not at all aggressive.
 For the first hour in fact, prices ruled
 very irregular. nuctuating around the sppening figures, and last nights close. l4Toward midday, however. the local bull
 leader entered the ring and began bidding
 Progressively all along the line. There was little cotton for sale, appar- ently, and the market responded readily. During the balance of the session, there were occasional but narrow reactions under l Ispurts of realizing but generally speak ling the tendency was upward and the market closed firm at practically the top | of the session. The net advance was 13O AS points with the greatest gain on the March position
 Sales were estimated at 6O0,00O bales Receipts for the day were rather over |earlier estimates but exports were larger a n1-f fIak hoI. l.. T for export out of the local stock late yes- terday, lent color to reports that export demand was slightly improved, although the spot people are still complaining of in- different buyers. There seems to be an Idea, however, that the advancing tenden- ey of spot cotton will stimulate buyers of goods generally, and that this demand will force the mills into the market for sup plies of raw cotton.
 The market was also flooded with pri- vate Liverpool cables telling of a better business in cloths in Manchester, helping to establish the advance The feature or the days business, which was for the most part of professional character. was the purchase of a block of 16,0O0 March against a sale of a like amount of May by the local bull leader This transaction had tendency to remove apprehensions of depression from unstopped notices later III thC iioiltIlf dIlu alSO nelpeO Tn a nOmi- nal advance of spot prices
 The southern spot market was generally firm to quarter cent higher, but quite as generally quiet, with the exception of New Orleans. where fair sales were re- ported.
 Receipts at the ports today were 15.1s3 bales against 13376 last week, and 29.01S last year. For the week 55.00O bales against 64S71 last week, and 145,575 last year. Today's receipts at New Orleans were 5S95 bales, against 10.70S last year and
 at Houston 231s bales against 52l4 last year.
 New York. March 2.-Tone quiet; mid
 ding 15.75c net receipts 1Ss; gross re-
 ceipts, 1SS; sales, 4O0O; stock, 80 903
 Total today at all seaports: Net receipts.
 15133 exports to Great Britain, Il, POS; ex-
 ports to France, - exports to the conti-
 nent 77S4; stock, 625.140.
 Consolidated at all seaports: Net re-
 ceipts, 4426; exports to Great Britain.
 &S12; exports to France, -; exports to
 the continent 23s12; exports to Mexico.
 1903.
 Total since September 1 at all seaports:
 Net receipts, 6,423589; exports to Great
 Britain, 1853, 452; exports to France, 6s4.-
 e11; exports to the continent 2,224.7S9; ex-
 ports to Japan, S71sS; exports to Mexico.
 23971.