The Birmingham age-herald., 1904-03-12
COTTON MARKET
 AGAIN SOARING New Orleans Buying Orders
 Causes Rally APPROACH HIGHEST LEVEL Weekly In Sight Figures, However, Prove Rather Larger Than Ex-
 pected--Exports for the
 Day Were Light.
APPROACH HIGHEST LEVEL

New York, March 1.-The cotton mar ket opens steady at an advance of to F points on covering and a little fresh de- mand in sympathy with rather better cables than expected and which may have been attracted in some measure by the fair spot sales reported from the southern markets late yesterday. There was, however, heavy realizing at first, and soon after the call the market eased off slightly, but as it declined, uncovered more buying orders, particularly from New Orleans. These quickly rallied prices and there was a period of firm ness that carried the active months up to the highest level they have occupied since the big break and to within about 90 points of the highest level for the sea- son. At this time May and July were both selling at 6.65 and the more active positions showed net gains of 14 to IS points.
 The weekly insight figures, however, proved rather larger than expected re- gently, and with the Galveston estimate pointing toward heavier receipts tomor- row, while some spot dealers insist that spot demand Is very light 1t seems that the smaller longs were willing to take profits at this figure. The local bull leader too, did not appear inclined to sup port the market and prices gradually eased off, attracting freer offerings as they worked downward, and shortly after midday May had declined to 1644 and July to 16.42 or net points lower.
 This was followed by another upturn on support by the local bull leader and a renewal of southern buying, but toward the close the recovery was lost and the market was finally at nearly the lowest or the session, or at a net decline of points to an advance of l point. Sales were estimated at 100000 bales. Trading during almost the entire session except perhaps a short time at the opening was almost entirely of professional charae- ter, and fluctuations were largely the result of the varying operations of the room who were apparently trying to scalp 10 points movements. Port receipts for the day were light and the larger esti- mate for tomorrow at Galveston was ex- plained by the bulls as at the expense of Houston's stocks, and as refecting more- over approaching exports
 However this may be, exports for the day were light and reports from the dry goods district beyond forecasting fur ther advances in the prices of manufac- tured cotton, show no indication of an im- provement, while many mills are talk ing curtailment of spindle capacity. Re- ceipts at the ports today, 66S6 bales, against 14,05S last week. and 1s,724 last year. For the week 5O000 bales, against 743S9 last week and Al, SIS last year.
 Total receipts at New Orleans were 2S55 bales, against 1894 lastisyear and at Houston 953 bales. against 2S1S last year.
 
 New York, March 1.-Cotton quiet middling. 1865; net receipts, 25O; gross receipts, 4751; sales, Hoo; stock S6144; ex- ports to Great Britain, 2113; to the conti- nent, 753.
 Total today at all seaports: Net receipts, 66S6; exports to Great Britain, 572O; to the continent. 903; to Japan 13; stock, 579, 399
 Consolidated at all seaports: Net, 51 143; exports to Great Britain, 24.OO7; to France S3S1; to the continent, SOS9; to Japan, 1733
 Total since September 1 at all seaports: Net receipts, 6523,O79; exports to Great Britain, 1,9S4,955; to France, 646.9sO; to the continent, 2,253,e75; to Japan, 2S,921; to Mexico, 23,971.