The Birmingham age-herald., 1904-03-08
INITIAL ADVANCES IN COTTON MARKET Days Receipts Proved to Be
 Very Light BULL LEADER IS ACTIVE Advance at the Beginning Was Largely Influenced By the, Firm Showing
 of ths Liverpool Spot
 Market.
BULL LEADER IS ACTIVE

New York, March 1.-The cotton market opened strong at an advance of 27945 points on active covering and bull sup port, following much better cables than expected and very light estimates for the days receipts, which promised to be only about one-third of last years The initial advances naturally attracted heavy realiz- ing, as they carried prices to the highest point since the big break early last Mon day, and following the call there was con- siderable irregularity accompanied by an interval of rather lessened flrmness with setbacks of from 5 to points on the more active months.
 The continued buying of the local bull leader, a good demand from houses with Liverpool connections and some fresh de- mand through commission houses, rallied the market promptly. however particu- larly in view of the light estimates for to- morrw's receipts at important points. and in the late trading May sold up to 162s with July reaching 16.ls, ana the active months generally 40 to 4S points net higher.
 The new crop positions also ruled gem orally firm, with December at one time selling at 12.60, a net advance of 55 points. The close. however, showed the late months down from the top under realizing. while the old crop positions were well up to the list prices, and the list as a whole was finally steady at a net gain of 27 to 42 points. Sales were estimated at 100000 bales. As a rule southern advices indicated a very unsatisfactory demand for spot cotton, and the days exports did not reach expectations, though this fact apparently had little influence on the mar ket, which during the entire session was dominated almost completely by the op- erations of leading local bull interests hp a a seller here, particularly toward the close.
 The initial advance was largely iniu- enced by the firm showing of the Liver pool spot market, where good sales were reported at an advance of 16 points. This was pointed to as evidencing some anxiety on the part of the British spinners, whose takings thus far for the season have been nearly 25O,000 bales behind last years, as to future supplies, but official advices from the southern spot markets do not yet reflect any increase either in export or domestic demand.
 Receipts at the ports today S775 bales against 1S,346 last week. and 3l,524 last year, for the week 65.00 bales against 74- 3S9 last week, and 141, SIS last year Today receipts at New Orleans 4201 bales against 1896 last year, and at Houston 1922 bales against 4074 last year.
 New York, March 7.--Cotton quiet; mid ding 16.50c; net receipts, -; gross re- ceipts. 5a57: sales, 2340; stock, 85, 439.
 Total today at all seaports, net receipts s755; exports to Great Britain, 465S; France ss6 continent, 1432; stock 5S712o; Japan, 1902
 Consolidated at all seaports, net receipts 13273 exports to Great Britain. 465S; France, SSS1 continent, 1432; Japan, 1902
 Total since September 1 at all seaports, net receipts 6,4sl.7S3; exports to Great Britain, 1,965, ,604; France 646,93O continent, 2,247, 7,01s; Japan. 3S,7s0; Mexico, 23,91.