The Birmingham age-herald., 1904-02-19
ADVANCES WERE ' DISAPPOINTING Highest Prices Reached in the
 Late Trading LOW BIDS AT HE OPENING Leading Factor In Days Advance Ap- pears to Be Small Interior Move
 ment and Good Demand
 for Spot.
LOW BIDS AT HE OPENING

New York, February 13.-The cotton market opened steady at an advance of to ' points on the old crop months, while the new crop options were un- changed to 12 points higher In view of the small receipts estimated for the day and the firm cables these advances were disappointing to the smaller longs, who finding a considerable amount of cot ton offering from yesterdays buyers, with very little indication of renewed bull support. began liquidating and shortly after the opening prices had not only lost their initial gain but were to points below yesterdays finals on the more ac- tive options.
 There was good buying at the decline, however. and with very bullish advances coming in from almost every source as to the spot situation. the market soon rallied, and during the balance of the ses- sion ruled generally steady to firm. Shortly after midday there was a slight setback on the larger receipts estimated for tomorows leading points, but the dropping off of the interior movement tended to offset this as market factor and the highest prices of the day were reached in the late trading
 There was heavy buying here, believed to be for the account of the leader in last summers bull campaign, and the local bull leader also bought heavily of May and July while prominent Philadelphia spot interest bought May against sales of July.
 Added to this demand there was heavy covering by room shorts. with one opera tor buying 4OO0 bales of May believed to be for short account and while there was some further liquidation and profit taking by commission houses, the market pre- sented very fine appearance, with March selling up to 13.51, May to 1888 and July to 1885, net advance on these po- sitions of fl and 47 points. Just before the close, realizing eased the market off slightly, but the final tone was steady with the old crop months net 37 to 53 points higher, and the new crop irregular at an advance of points to a decline of F points. Sales were estimated at 100000 bales
 The leading factor in the days advance appeared to be the smaller interior move ment and the continued reports of good demand for spot cotton in the south. The estimate on the into sight for the week has now been reduced to about 15OOOO DaleS against lJltUVU ldSl year anu all estimate of 1S000O bales earlier in the week, and this reduction naturally leads to expectations of a good decrease in the visible supply figures while there also seems to be some apprehension as to the technical position of March contracts. =s Receipts at the ports today, 7.591 bales against H. 194 last week. and 20'3OO last year For the week, s0,000, against 127,- 772 last week and 152511 last year. To- days receipts at New Orleans 2,593 against 5,395 last year and at Houston, P. AT against 6,079 last year.
 New York February 1s.-Cotton quiet; middling 1875; net receipts, 3691; gross, sss5; sales 221O; stock. 73,22S; exports to Great Britain, 227; to continent, 119O.
 Total today at all seaports: Net re- reipts, 7591 exports to Great Britain, 227; to France. 3273; to continent, @,6$; to Mexico 100; stock. e87,143.
 Consolidated at all seaports; Net re- reipts, 69,912; exports to Great Britain, a3,066; to France 2S,044; to continent, 29,- b62; to Mexico. 295
 Total since September 1 at all seaports: Net receipts, 6,29453O exports to Great Britain, 1890. S13; to France, 634,24s; to continent. 2,716,107; to Japan, s6,s0S; Mex leo, 22,36S.
 Me,., NorL co+fon Eu+urae