The Birmingham age-herald., 1904-02-10
SLIGHT REACTION
 AFTER OPENING Cotton Market Opens Firm at
 an Advance CENSUS REPORT WAS READ Following the Reading, Prices InstanIy Broke and Lost Nearly Cent
 Pound Within a Few s. Minutes.
CENSUS REPORT WAS READ

New York, February s.-The cotton mar ket opened firm at an advance of 106a3 points on moderate bull support and cov- ering following hrmer cables than ex- peeted. and apprehension that the census bureau report would not prove as bullish hs predicted.
 After the opening, there was a slight reaction, but the bull leader supported the market on all weak spots. and by the middle of the forenoon the active months were 4S to 57 points net higher, March selling at 90; May. 14.s5 and July, 14. B. Toward noon, however. reports were cir cu1ated that the census bureau report would prove disappointing from the bull standpoint. and at noon prices had re- acted to within 7g12 points on last nights close
 Then the census report was read. It showed that s.s5sy277 bales had been ginned to January 16, or counting round bales as half bales, g, ,465, 537 bales The bulls had heen predicting that this report would show below s.2OOO00 bales. Instantly prices broke, and inside of few minutes had lost nearly a cent pound, counting from the best of the morning. and net 256D 45 points, with March selling at 1920, May 13 40 and July 16.45
 The local bull leader started buying, and the shorts turned to take profits, and there was a rally to within or 10 points of last nights finals, while July, which had gone down 110 points in two sales at New Orleans, recovered 90 points. Later, however, selling orders came in from outsof town as the report spread through the country, and the market weakened again, becoming sensationally weak and active in the late trading, when sentiment was ini1amed by reports that a financial institution in Bremen was Tn difficulty, involving, it was rumored, i'm portant American interests.
 March under the influence of the scare sold down to 12.67 May to 13, and July to 1906. The close, while steady as to tone, was at practically the lowest, with the net decline a matter of 25 to 92 points. Sales were estimated at 100000 bales. The de- cline here from the high point of the morning was between 125 and 133 points on the three active positions.
 Receipts were light, contributing to the early frmness, but exports were light also, and the report of the census bureau seemed to be considered very bearish factor, even at the decline, which has taken place during the last week. That now amounts to practically Az cents pound since the high point of last week, today's decline having calNled prices about points lower than the previous low point of the downward movement.
 Receipts of cotton at the ports today. 26,763 bales against S3,5o9 last week, and 4o,24O last year. For the week 1S5,OOO against 161 Ill last week, and 197,1S1 last year. The days receipts at New Orleans were 9661 against 14,678 last year, and at Houston 4946 against 1,5S9.
 Now York, February 9.-Cotton quiet; middling, 14.25c; net receipts, 269; gross receipts, 5627; sales. 105; stock, 76966.
 Total today: Net receipts, 26763; ex- ports to Great Britain, 2SS; exports to the continent, 403; stock, 740372.
 Consolidated: Net receipts, 7,974; ex- ports to Great Britain, 1O,0S9; exports to France, 30; exports to the continent 1889; exports to Japan 974.
 Total since September 1: Net receipts, 616S,5s4; exports to Great Britain, 1,SS2,- 254; exports to France, 602,S ,S73; exports to the. continent. 2.1s2,s45; exports to Japan, s5,733.