The Birmingham age-herald., 1904-03-09
MARKET HAS UNCERTAIN DAY Early Advance Followed by
 Steady Decline REACHED LOWEST POINT In Last Few Minutes Market steadled Up on Room Covering and Ag-
 gressIve Buying By the
 Bull Leaders.
REACHED LOWEST POINT

New York, March S.-The cotton mar ket opened steady with first prices two to six points lower on the old and two points lower to six points higher on the new crop months, following cables which were disappointing as to old crop fu- lures, while relatively firm in respect to new crop pjositions, and spot cotton which was again reported in fair demand at an advance of two points.
 Sentiment here seemed to have rather a reactionary leaning in spite of continued small receipts, but sellers early were timid and following the call the market was rallied on covering and show of aggres- sfve bull support, which before midday had advanced May to 16s1 and July to 1922 with the active positions ranging about five to eight points net higher. Then reports that a few March notices had been issued were not being promptly stopped, unsettled smaller longs, bull sup port appeared to be partially withdrawn and the market declined under realizing caught stop orders with the result that there was sharp break of 1900 for May and 15.e0 for July
 Just before this level was reached the local bull leader commenced buying and soon checked the declining tendency with the assistance of the small estimates for tomorrow's receipts at leading points and then there was a quick advance of a little over ten points. But there was lit tie fresh demand and after ruling quiet and irregular for time the market in the middle of the afternoon again weak ened under liquidation and room selling, reaching the lowest point so far for the session.
 Around 15so for May bull support was again forthcoming but was insufficient to check the decline which carried May to 15.s1 and July to 15.75 and these more &C., tive positions generally to a net decline of from 34044 points. In the last few min- utes the market steadied up few points on room covering and aggressive buying by the bull leader, being finally steady at a net loss of 19d3S points.
 Sales were estimated at 500.000 bales. Receipts at both ports and interior points were light furnishing bulish comparisons with last years figures, but exports were again small and private advices from the south while conflicting, indicated on the whole an unsatisfactory spot demand
 Receipts of cotton at the ports today H. 517 bales against 9773 last wek, and 2s,S49 last year. For the week, 65,0OO bales, against 743S9 last week, and 141,61S last year, rodays receipts at New Orleans were 25Oe against 7773 last year and at Houston 21S3 against 10,970 last year.
 New York. May s.-Cotton quiet; mid ding, 16. .25c net receipts, 16; gross re- ceipts, 5s72; sales. 400; stock, S6.SsO
 Total today, net receipts, 1i,517; exports to Great Britain, 6SS; exports to the conti- nent 400; stock 59S,00S.
 Consolidated: Net receipts, A790; ex- ports to Great Britain, 5341; exports to France, S3S1; exports to the continent, 1892; exports to Japan, 1902.
 Total since September 1: Net receipts, 6. 473, 250; exports to Great Britain, 1,s06 2s7; exports to France, 646,930; exports to the continent. 2,247, AIS; exports to Japan, 3s, ,790 exports to Mexico 23,91.