The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1904-02-26
NEW YORK COTTON.

NEW YORK COTTON.
New York. Feb. 25.-The cotton market
crened steady at IN advance OF 1 to 13
POINTS on the old. TO a decline of points
On the new crop months and ruled very
III egular. The initial gains We're due 10
covering or the cables which were better
than expected and the small receipts esti-
mated the day but there was little support
incm bullish sources and shortly alter
the opening prices sagged off 10 20 IL
POINTS on liquidation and some selling
lelieved 20 be for short account. Liver
pool continued firm however, and New
Orleans which at first had shown relative
weakness firmcd up sending very bullish
kilograms to the local market. Ii was
March notice day there and yesterday
some apprehensions were expressed as to
the attitude of the long interest. This
morning however, leading Southern bulls
were reported to be bidding for large
blocks OF Marcia cotton. Here large Phil
adeiphia spot interests We're active buy
ers OF May and July. New Orleans, too,
sent buying orders after the first ten or
fifteen minutes, while houses with Liv-
c:pool connections were also operating
OH lon~ account. This rallied the mar
net in spite of continued opposition from
the former local bull leader who was re
rolted to be selling openly and prices
advanced to a net gain OF &c to 50 points
on the more active months with May
reaching 1882 and July 1925 while March
ruled dun and neglected around 1885,
Estimated receipts for tomorrow Were
very light helping in the advance but re
Ioris reaching here from The South indi-
cate rather a less pressing demand fo;
!
the continued opposition OF leading in
ttfests here unsettled the room who
shortly hefnre midday starred aeellias
movement that carried prices down &c
last nights level Again there was a
rally as offerings fell off somewhat but
only that the market was depressed by
the aggressive offerings OF the local bull
leader and in the middle Of the Afternoon
Lr.ces were forced down to the lowest
Loint of the session, with March selling
at 1910; May at 1875. and July at 1885,,
representing net decline Of II to 81
points and a reaction from the best oil
about 20 points on the May position. To
ward the close room covering and q re-
newal OF demand from spot interests
brought about 4 slight rally and the mar
ket was finally steady at an advance OF
. points to decline OF IL points.
Sales We're estimated at 700, 900 bales
Receipts for the day were light and the
estimates for tomorrow also ran very
small, indicating a more bullish. week
statement than previously expected the
mount being now placed at about 1876,
600 bales. against $4,000 lastSyear. Elk
ports for the day were very light how
ever and total exports Tor the season
are now only 4,S97, $50 bales, against s.
0Sl.943 last year.
Receipts at the ports today S,s2s bales
against 1911 last week and 17.455 last
year For the week 10000 bales. against
SGS06 last week and ,947 last year. 10
days receipts at New Orleans were 4,G15
bales, against 3.22s last year and at Hous-
ton 1856, against 2.S96 last year.
NEW YORK. Feb. Is Cotton spot closed
quiet, 20 points lower, middling upiands
iI.l0, gulf lI.Sj; sales -. bales.
Futures ops ned and closed steady.