The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1904-03-12
S OFF
BUYING ORDERS
These Rally the Falling
Prices of Cotton.
PERIOD OF FIRMNESS
The Active Months Sweep Up to the
Highest Level They Have Occu-
pied Since the Big Break.
Weekly In Sight
Large.
PERIOD OF FIRMNESS
fBy the Associated Press.)

New York, March 1.-THE market has
been unusually dull and the outlook
shows little prospect of change. Job
bers have been hampered by unfavorable
weather conditions and are doing only
moderate business.
NEW YORK COTTON.
New York, March 1.-THE cotton mar
ket opened at an advance of 6@12 points
on covering. and little fresh demand in
sympathy with rather better cables than
expected and which may have been at
tracted in some measure by the fair spot
sales reported from the Southern markets
late yesterday There was, however, heavy
realizing at first, and soon otter 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 firmness that carried the active
months up to the highest level they have
occupied since the big break and to with
in about 90 points OF the highest level for
the season. At this time May~and July
were both selling at 1865 and the more
active positions showed net gains OF 14@
Is points
The weekly insight figure, however,
proved rather than larger than expected
recently, and with the Galveston est
mate pointing toward heavier receipts to-
morrow. while some spot dealers still as
sert that spot demand rs very light, II
seemed that the smaller longs were willing
to take profits at this figure. The loca'
bull leader too did not appear inclined to
support the market and prices gradually
eased off, attracting freer offerings as
they worked downward, and shortly after
middaA May had declined to 1914 and
July to 1912, or net points lower. This
was followed by, another upturn on sup
port of the local bull leader and renewal
of Southern buying but toward the close
the recovery was lost and the market
was finally at nearly the lowest OF the
session or at net decline of points to
an advance of 1 point.
Sales were estimated at 500, 900 bales.
Trading during almost the entire ses-
sion except perhaps a short time at the
opening was almost entirely of PROBES
sional character and fluctuations were
largely the result of the varying opera
tions of the room who were apparently
trying to scalp 10 point movements. Port
receipts for the day were very light and
the large estimate for tomorrow at Gal
weston was explained by the bulls as at
the expense of Housto nstocks and as re-
fecting moreover exports. However, this
mornings exports for the day were light
and reports from the dry goods district
beyond forecasting further advances in
the prices of manufactured cotton show
no indication of an Improvement, while
MANY mills are talking curtailment of
spindleage.
Receipts at the ports today 6.6S6 bales.
against 14.05S last week. and 1924 last
year. For the week $4,000 bales, against
1889 last week. and 1853 last year.
Total receipts at New Orleans were 2.357
bales. against 1884 last year. and at Hous-
ton 953 bales, against ISIS last year.
New York. Nrrch 11-cotton spot closed
quiet :. noints higher: midd1ing uplands, 1865,
gulf, 1880, sales lie0 bales.
Euft1rec odapad steady nd clfS n firm