The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1904-02-16
NO BULL SUPPORT
IN COTTON MARKET
Reports Cause Restriction of
Buying Orders
BALES AVERAGE HEAVIER
Census Bureau Report Causes Some
Confusion Among Traders In the
Pit and Has General
Bearish Effect.
BALES AVERAGE HEAVIER

New York. February 15.-The cotton
market opened quiet at decline of to
- points on liquidation and room selling
in the absence of bull support Cables
were a little below expectations and re-
ceipts for the day were rather heavier
and there was further expectation OF
European complications in the far east
trouble.
These factors seemed to restrict out
side buying orders and later the heavy
estimate for Houston exerted a bearish
influence SO that prices continued to work
downward until shortly after midday
when stop-orders were reached and a well
directed bear drive brought about heavy
liquidation. Sentiment was further un-
settled by rumors of disagreement among
New Orleans bull leaders.
The report of the census bureau also
had a bearish effect on sentiment, show
ing that the average weight of the bales
was about twenty pounds in excess of last
years Trading was not more than mod.
erately active, even on the break, but
there seemed little or no demand except
for shorts taking profits ah3 the market
closed at the bottom, a net decline of 40
to 10s points with the tone weak
At the lowest July sold at 1898 closing
at Ii. 20 bid. this being the lowest point
reached since the downward movement
began about two weeks ago, and which
has carried the July option down from
1855 to today's price, a loss of about
AGO points 1t Is reported that a strong
bear clique has been formed under the
leadership Of a prominent Wall street
operator who has not been active in the
market since about this time last year,
and the operations of this party We're be-
lieved to be in some measure responsible
for the days decline.
The local bull leader was present, but
appeared to be taking no active part In
the market with a rumor circulating that
he was selling quietly throughout the
entire session. The report of the census
bureau caused some confusion. The
weights given are gross, and comparing
with the same character Of figures last
year the average weight counting round
bales as half bales, Is practically iden-
teal with last years figures; this sea-
son being placed at 502.1 pounds against
502 last year.
Applying these weights to the gin
neries report of last week 1t indicates that
e,5259 1896 bales of 500 pounds each had been
ginned to January 49,
Receipts at the ports today, 21.10S bales,
against 20,4S7 last week, and 26,3S7 last
year. For the week, 10000 against 1877
TT last week and 152 Sill last year. Today's
receipts at New Orleans We're GLIB against
6s26 last year, and at Houston 61S4 against
1855 last year.
New Fork, February 15.-cotton steady
Mlddling, 1875; net receipts, 364; gross
1896; sales, 1917; stock, rs 4S2.
Total today net receipts, 21,10s; exports
Great Britain, 23,251; France, 4o7s; CONT
nent, 1850; stock. 705,976.
Consolidated, net receipts, 34,98; ex-
ports, Great Britain, 24,475; France PATTI;
continent, 1885, Mexico. 1876.
Total since September 1, net receipts,
6,259,546; exports, Great Britain, 1,S72 900;
France. $50 991; continent. 2,14s695; Japan,
S690S; Mexico, 22,2sS.