The Montgomery advertiser., 1904-02-24
BULLS HAVE MARKET
TRADING SPECTACULAR IN NEW
 ORLEANS.
To Wind Up the Days Proceedings Hayne Bids 1870 for 100, ,o00 Bales For March
 -. Delivery.


 another field day for the bulls In the cot ton market. After two days of rest the market opened with both longs and shorts enseInf eager for fight a to the finish Todays the turning point for either much higher prices or a break in the advance that the bulls have inaugurated.
 opening and their heavy bidding caused prices to open five to B points higher than the close of Saturday. Continued agsressiveness on their part forced prices to S points, while the close was 61 to 63 points higher than Saturdays close.
 While the shorts attempted to measure made any great impression on prices by their selling. At the opening they un- doubtedly checked the advance by offer-
 e Su R Resy SaSs at and at the middle Of the morning a heavy wave of buying orders struck the market which furnished a much greater buying liquidation of satisfied longs could supply. Statistics were too strong weapon In the hands of the bulls. and during the open effort to depress prices while rumor had 1t that they were quietly covering. The trading of the earlier hours was spectacular enough. At the opening the bear in the locai ring, hurled thousands upon thousands of bales across the ring at the longs. The leading bull was as ing was as tranauii as that of an iS ordi- nary commission broker. At the same time the course of the market was shaped and psicss went up point by point. under
 Hayne was clearly impatient over the stories that have been circulated that th9 bull clique Is to be swamped with delive- bid for lots of 5000 bales, finally increas- ing his bids to 10000 and then to 5000. Cotton was not coming his way fast enough. and at last he bid 1870 for 100, 900 thrown at birn on these bids, and his az. gregate purchases amounted to several thousand bales.
 conclusivelya according to the general opin- ion, that the bull clique has made prepa- rations to take on an immense quantity of actual cotton on March deliveries: It to demand deliveEies on March contracts as under present conditions 1t is not q profitable business move to deliver. It clique will demand the actual stuff on its holdings.
 New York, Feb. s.-A good impression was made by the stock market this morn ing but the tone became nervous and ap- prehensive as the day wore on and Tn the afternoon there was positive weak ness. The relative share in causing this
  evidence was not very clear: Some of the Improvement had it's impetus from for- eign sources, where the success Of yes terday in calming the panicky conditions on the Paris bourse was followed by some rebound. The latter action of the local action gave rise to the supposition that none of the early advantages were stln1- ulated by manipulation afford better basis for selling. The concentrated na- lture of the seelng induced Soine fears that large interests were liquidating their hoil- The suspense felt over the coming North ern securities decision was an important influence in the market there was room for the opinion held by some persons that it was the dominant influence. Wall street was entirely at sea during the morning as to what to expect on the ! e decision would be handed down today | and would favor the company. No de- c1sive information could be secured hero whether the court would hand down any decisions today at all. Monday bolEg the usual decision day, 1t was doubtful | whether the holiday of yesterday would lead tile court to hand down their recess decisions on this. the first day of assem- | bling When the report was received that decisions were being delivered. the mdr- ket showed ths greatest weakness of the whole day in. sympathy with a break Of | 3 3-4 Northern Securities itself on the curb. Uneasiness over the foreign fiS l nancial situation was revived by report ] OI an important banking failure in Berlin | and the strength in the local excnange l market gave the color to the doubts Il felt. It realized that Europe is not l stripped or American securities. however 1 large the recent reduction in the floating | supply there may have been. ExtcnSlsS I financial disturbances in Europe woHid be sure to precipitate pressure upon the | worlds strongest financial point. which | seems to be New York at present. Tie T innlx of cash in New York. which lS making it so strong is viewed somewhat I dubiously. taken in connection with tue I decline railroad in earnings and the
 shrlnkage in the country's bank clearinSs. | pointing to a decrease in business ac- | tivttY, which is not wholly reassuring.
 The pendency of the vote on the Panama | treaty, pointed to an early call by the | secretary of the treasury for a portion or 1 government deposits in national banks. | A further cut in the lake grain rate kept alive apprehension over the war ratss The market closed at about the lowest of the day ard showed losses ranging l generally between i and 1 S-4 points. | Southern Pacific was the most actively pressed for sale and a number of dormant | stocks made violent declines.
 l Bonds were moderately active and easy, Total sales, par value H,340.000. U. 5. 3s. registered advanced 1-4 per cent on call.
 New York Stock List.