The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1904-03-16
SECURITIES ARE
IN GOOD DEMAND
Feverishness of Monday
No Longer Exists.
NO BAckSETS SHOWN
As Whole the Cotton Market Reveals
Few Features. The Final Tone
is Barely Steady. The Sales
are Half a Million
Bales.
(By the Associated Press.l

New York, March 15.-The dry goods
market continues on re same dead level
on which it has been moving for so long
Buyers are not Interested. except in small
lots for immediate delivery. The outlook
as Tor continued conservatism.
NEW YORK COTTON.
New York, March 15.--Tke cotton mar
ket opened weak at decline of Is to u
points on the old and of to 10 points on
the new crop months under liquidation
and room selling attracted by the disap-
pointing cables and expectations of ratl-
or a large movement, while there was still
nore or less talk OF an unsatisfactory
srct demand. Before the declining ten
dcncy was checked May had sold down to
1e.OS and July to 1910 with the active
months generally from Il to q points
lower, the new crop positions, showing
relative firmness in the absence OF aggres-
sive liquidation. The early selling, how
ever, appeared to exhaust the liquidation
of the weak long interest and when the
light Houston estimate was received prices
rallied few points. After this the mar
ket while more OF less irregular showed
an advancing tendency. 1t looked as
though the room had oversold on the
early break and when shorts attempted
to cover but little cotton was offering.
Estimates for tomorrow receipts at Gal
weston and New Orleans were heavy and
TIE interior movement overran both ex-
rotations and last years figures. In
spite OF these facts, however. and the
reactionary tendency at New Orleans, the
market continued to advance and in the
middle of the afternoon he'd sold UP to
1c4l for May and 1914 for July with
March which attracted very little bust
ness fuctuating around Is 10. This rep
resented net advance of to Z points
on the active months but just before the
close realizing eased the market off a
few points from the best and the final
tone was barely steady Win the old
crop positions to 5 points lower while
the crop was unchanged to points
higher.
Sales We're estimated at 100000 bales.
The local bull leader while reported to
be a buyer on the early break seemed to
be taking no very active part in the trad
ing and New Orleans was apparently oper-
atIng both ways. AS whole the market
showed little features. Trading beyond
brief interval at the opening when wire
houses were sellers seemed to be mostly
liz operations seem to be curtailed By
the already high level of prices in connec-
tion with continued reports OF poor
SPOT demand and the continued light ex-
ports, although in respect to spot demand
reports reaching the market are very con-
fiicting. The official spot markets as re-
ported from the South were generally quiet
ard unchanged to 1-8c lower.
Receipts of cotton at the ports today
II. 264 against II ,449 last week and 49,,
81 last year. For the week $4,000 bales,
against 81 ,283 last week, and 87,IH last
year Today's receipts at ew Orleans were
1850 bales. agains, 5,O26 last year and at
Houston 2,s06 bales. against -4S last
year.
New York, Mr~ch 15-Cotton spot closed
Quiet 10 points hgher;middling uplands, 10. 10,
gulf 1878, sales bales.
Lutllres odened eak and closed steady.