The Montgomery advertiser., 1904-04-19

september ...,. .s.s.. ..lz-o lzsv November. bid.. .... .... .".ii.ss
 December. .... ,.-.h.si-
 c. E. FIERCE . CO.'S COTTON LETTER
 MN sny pr,ss.s wre from 9Iesrt ns sass csy o cotton was put through another severe tes. ~ to-day. Various influences were brought in action to produce detrimental erect a1u prices were driven down the descent w,tl increased energy. Liverpool furnished the initial Incentive to the extent of reporting ' greater decline than had been looked tor, which cables explained as being me resnl! of large shipments to the English marke' from America, and bears in New York fol- lowed the advantage with surprising zeal. having had in view the dislodgement of long cotton that was insufftetenfiy proteeted The success of their efforts was measured by q depreeiation of about s2. 80 per bale. | which was Effected here to similar ex- | tent, room traders being generally arrayed against the raark<k on the theary that the absence of spot Remand conduced to low CT prices while freer movement of cotton to the ports discouraged speculative support. This is 6 situation where sptnners and spot holders are left to battle with the rem nant of the crop. as speculation Is playing no important part at this time.
 Experience has shown that such short sell ing has been observed recently can be readily converted Into an active and urgent buying movement on the slightest provoca-
 
 seriously Of course. through the medium of hedged cotton. the opportunity has been presented for spinners to secure cotton cheaper than the official quotation repre- seTts,5 but the obligations of sellers of con- tracts have tbeen ma agniffed accordingly. It is market that Is readily susceptible to de- velopments of any kind and for the irnnae- diate future one has but to be. guided by current events.
 H. & B. BEERS COTTON LETTER. (By Private Wire 10 Caldwell, ward & Co ]
 NEW ORLEANS, Apru 1s.--As Liverpool was unfavorable our market opened as to a7 lower on old crop months and Is to IT on the new. Shortly after some fresh buying caused an advance of to T, but the favor able crop reports from the Carolinas and western Georgia and adyices from the in- terior reporting that little or no damage was done by the cold spell coupled with the later easiness in Liverpool and weakness of spots. forced an additional break of 3s 10 as on the near months and to 2t on tho late. Shorts covering near the close steaaied values sslightiy. making the net loss 5s to 5s points oil the old crop options andf24 to 2e on the new,
 Liverpool cables say that the feeling against cotton Is increasing In consequence Of large shipments from America and no speculative feeling. Manchester cabies say that despite milder variations in cotton buy CTS hesitate to operate freely in cloths. The demand, from Ind.a was disappointing. The outlook however. Is shade more hope full China operated in fancies and special ties to 8 small extent. The pessimistic for eisn advance. the general apathy of spin ners. as evidenced by the restricted demand and weakness of spots the lack of specula- tfon, and the liberal estimated receipts for tomorrow at New Orleans, Galveston and Houston were all instrpmentaI in establish ing the sharp decline to-day. The old crop months will continue to be regulated by the action of Liverpool and the demand for spots The new crop posftions will be gov erned by weather conditions.
 VIRGIN z FAUNCE's COTTON LETTER. (Over Private Leased, wire.l
 NEW YORK. April is,-rhere was . rather weak opening to the cotton future market to-day. The first prices were 2S to 34 points lower on the old crop months and ' to lower on the new crop positions. As the early session on, the loss was increased in consequence of active selling or the scattered type. ThA English market news was disappointing, while the weather reports were very satisfactory, there beins higher temperatures in the South, the latter incidentally serving to increase the move. meht. The latter was surprisingly large in some quarters and hence the bearishness -oi many elements seemed to be justified. On the lower levels. however. there was quite Dit of support and the decline was over. come in measure The room element turn ed buyer on the reaction theory and .this business helped the market quite substan. tially Throughout the day. however there was a nervous and rather uncertain feeling and. the more conservative elements were disposed to proceed cautiously The spo, markets were quiet. but generally steady | m tone with,s a .rnoderate demand and small offerings. The ports for the weeA were estimatsa at zs, 0t6, a Eainst z7' oas lss, week and 54,e04 last year. Other statistics were about as expected, and the bulls ar. gued that the weekly figures will be just a, huiiish this week any other week of re. cent date. On the close there was a rather conflicting feeling with the room interest, tlguring for the bulk of the business
 c. E. PIERCE & CO.'S COTTON LETTER tby rrivate Wire from C. w. Lee & Co NEW YORK, April tS.--The cotton mar, ket looked this morning as though if vvouId break badly before the end of the day ana the looks.dtd not belle the situation selling was extensive and as heretofors there seemed to be very little demand fo, cotton. support was almost nothing. Tho trouble is. there is no demand for eottor from Europe and this is the oniv pIac, there Is any demand to come from wher Liverpool breaks as 1t did this morning ana no buying appears there is nothing to bu, cotton on, We cannot feel that there Is sound basis for selling cotton short ana standing on the sale, yet We do not want tr buy cotton under the present outlooS There Is a time to buy and a time to ssI ana one to look on This seems to ba the time to look on. Of course, prices are birh ana there is the question of the new eron put still there B no ason for selling cot ton simply on tho price All the hest o,,tn. ion Of the market Is against buving at th. momeTa and the market looks lower Afta, the price broke through II cents to-day there was every reason to sell, ,corton an Keep out for time The tone was u,ea r and the buying not good We would let ths market alone e' '"e