The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1904-08-26
ANOTHER WILD DlY
IN COTTON MARKET
Reaetionary Tendency Was at
First Evident.
NEW HIGH PRICES REACHED
Local Sentiment Was Feverlsh-Re-
newed Bull Support Soon After
Opening Caused Losses to
Be Regalned.
lEW HIGH PRICES REACHED

New York, August 25-The cotton mar
ket had another active and excited ses-
sion. At first this wa. rather a reaction
airy tendency owing to lower cables and
continued favorable weather. but later in
the session there was another wild furry
of covering by shorts and prices we're
forced into new nigh ground.
The opening was weak at a decline of
80 points on September and of 10 to 16
points on later positions or just about as
due on cables, which reflected a much
lower market in Liverpool. than had been
anticipated as a result 1t was stated by
private advices of the elimination of the
short interest and heavy American SELL
ing. But sentiment was very feverish and
while the south seemed to b selling more
or less freely througa various wire
houses, there was a renewal of bull sup
port and soon after the opening the initial
losses were regained.
But further fluctuations were very IT.
regular. 1t was rumored that some of the
bulls had sold out and at times there was
considerable pressure against the market
leading to several dips in prices that car
ried them back to about the opening fig
ures Around midday the market was
comparatively quiet, but showed pretty
steady undertone within {. point or two of
last nights figures when one or two oper-
ators who have recently been heavy sell
ers evidently started in I, break the mar
ket They offered several substantial
blocks and tie room. becoming convinced
that the furry of covering had run its
course. also became free seller. But the
cotton was easily absorbed and bull sup
port again became evident. leading to an
other wild rush of covering that carried
the list kup to a new high level for the
movement, with September selling at 11.oi
October at 10.9S December at 1885 and
January 1895, or net gains of about 20 to
26 points.
This represented an advance from the
low point of last Friday of about SO a
bale or $500 a trading contract Toward
the close the market reacted about b to 10
points under profit taking by scattered
longs. but was finally very steady with
August net unchanged and other positions
10 to IS points net higher. Sales were
estimated at $4,000 b--les. There was Moth
ing in the news Of the afternoon to ex-
plain the advance which was attributed
entirely to the runnin In of another large
speculative short account.
Receipts at the ports to-day were b,946
bales against 1888 last week and 307 last
year. For the week 35beJ bales against
1902 last week and 1,432 las. year. To-
days receipts at New Orleans were 1,o39
compared with 213 last year and at Hous-
ton 3,6S2 against 50 last year.
New York, August 25.-Cotton quiet;
middling, 11.20; gross receipts, 1,1SO bales;
sales 200 bales; stock, 35,132 bales.
Total today, net receipts, 56S7 bales;
stock, 9. 63S.
Consolidated net receipts. 25,2S6 bales;
exports, Great Britain, 1903 bales; CONT
nent, 1853 bales: Japan, 502 bales
Total since September !, net receipts,
7174,264 bales; exports, Great Britain,
2506, 672 bales; France, 600 1873 bales; conti-
nent, 2, 597,225 bales Japan, 46697 bales;
Mexico, 27.942 bales.