The Birmingham age-herald., 1904-03-04
ADVANCE RESULTS IN PROFIT TAKING Market Breaks Even After the
 Opening BULL LEADER GETS BUSY Continued Good Demand for Spot Cot ton In Liverpool Has an Influence
 In Attracting Outside
 Buying.
BULL LEADER GETS BUSY

New York. March s.-The cotton market opened steady on an advance of 12 to oO points. and showed further advances at first on firmer cables, light estimates for the days receipts, reports of better ex- port demand. continued bull support ana covering. The advances, however, attract ed considerable profit-talking and while there seemed to be quite a general de- mand through commission houses, the market soon after the opening broke to about last nights prices on the more act i've positions.
 At this level the local bull leader became more aggressive, predictions were circu- lated that the market would be torceo through the 16 cent mark, and with buy ing also encouraged by the small estimate for tomorrow's receipts ct Houston, the market was rallied sharply until May in the middle of the afternoon reached le.oo' July ie and March 15.7S, and the active months generally net 2S to s4 points
 The upward movement had been attend ed by more or less realizing and narrow reactions and at the best point the mar lxet looked as though the smaller longs had been pretty well filled up, so that when fresh wave of liquidation set in, outside support was less aggressive ana prices sagged off several points with broker. believed to represent New Ofleans' offering May and July freely. The market was finally steady but the advance nau been cut down to a matter of to II points on the old crop, while the new crop months were points lower to II points higher. Sales were estimateo ae oVV'oVo bales.
 The continued good demand for spot cotton in Liverpool, believed to result from a more active inquiry for cloths at Manchester, and reports from the south that spot dealers were more active puy- CTS were important factors In the day advance, while the rumor that the local bull leader has recently disposed prl- vately of something like 2OOO0 bales or spot cotton to a prominent exporter, also may have had an influence in attracting outside buying, which at the opening was rather more active than recently, though all through the advance trading seemed to be mostly professional.
 The movement is rather heavier than generally expected. The estimate for to- morrow's receipts at Galveston and New Orleans are full and the into sight move ment for the week is now being est- mated at about 125OOO to 135.0o0 bales, against earlier estimates of 10000 bales and an actual count last year of about 159O00 bales Todays exports were hc> vier, however, particularly from Gal weston, which has shipped out about S8,- 900 bales in the last three or four days
 Receipts at the ports today, lO,y5S baies' against s, ,456 last week and 19, 437 last year. For the week, 10000 bales. against 64,s71 last week and 145.575 last year. Today's receipts at New Orleans were S172 bales, against 9z76 last year. and at Houston S,06S bales. against 2,S7 last year.
 New York. March 3-Cotton quiet; mid ding, 1925; gross receipts, 2566; sales. s23; stock, 80, 4s9; exports to Great Britain, 570; to the continent, 325-
 Total today at all seaports: Net receipts 1888; exports to Great Britain, 6207; to the continent, 2o,s47; stock. 603, ,539
 Consolidated at all seaports: Net re- ceipts. 5S,3si: exports to Great Britain. 45 o19; to the continent. 44059; to Mexico. 1903
 Total since September at all seaports: Net receipts, 6434527; exports to Great Britain, 1859 659; to France, 634.611; to the continent 2245.636; to Japan. BLISS; to Mexico, 239I1-