The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1904-02-02
SEVENTEEN CENTS
|SPASSEDB BY JULY
This Month Reaches Sew
enteen Fifty-fiye.
MARCH AND MAY PASS
The New York Cotton Market Advanced
Forty-seyen to Eighty-tWG. The
Body of the Stock Market
is Inert and Unusually
Listless.
Listless.
tBy the Associated press.)

New York. Feb. 1.-The excitement in
the dry goods market continues with the
Upward course of the raw material mar
ket. Business could be materially en-
lsrged were manufacturers willing 10
make prices. A good many lines are
withdrawn and others neid at value 30
that buyers receive little satisfaction in
their inquiries. CurtaIlment is being more
generally recognized as a necessity and
additional mills are starting upon short
time.
NEW YORK COTTON.
New York, Feb. 1.-The cotton market
opened strong at an advance OF to 20
points on further bull support and GOV,
cring induced by higher cables than ex-
pected and light estimates for the day s
receipts. The advance carried prices into
new ground with July selling through
the seventcen-cent mark and attracted
heavy profit-taking so that at first there
was considerable irregularty. New Or
leans showed particular frmness, how
ever, and the Southern bull leaders in
connection with a spot house having New
England connections absorbed all offer
ings and soon the market mad advanced
until March was selling at 1886; May at
II 20, and July at 1870; net gam OF
these position of AZ to AZ points. Then
the light estimate for tomorrow's receipts
at Houston and rumors that the local bull
leader was selling large amounts through
brokers caused a setback to within a
few points of the opening figures. The
estimates for tomorrOw's receipts al Cal
weston and New Orleans also were heavy
on the average but in the fact of this
the market N the early afternoon started
once more to advance with very bullish
messages coming in from New Orleans,
further heavy purchase Tor the account
of the New Orleans bull leaders and some
buying for outside account promoted by
the expectation of q very bullish Census
Bureau report giving the amount OF cot
ton ginned to January 13, which IS eX-
pected between this and the fifth OF the
month. The expectation of returns con-
filming the bulls crop estimates seems
more or less general although some local
statisticians figure that the large State
Of Texas will have received by the end
of the current week as much cotton as
allotted for the entire crop by the gov
ernment's estimate of December 8. The
best prices were reached in the late trad
ing when March sold at 1904; May at
months of IS to 20 points for the day
and of about a cent and half a pound
since the close of the market on last
Friday. July in New Orleans sold up to
the 18c mark. The market here closed
firm at practically the best with all
months I'D to and including September
net Al to 50 points higher. October was
unchanged and December only 10 points
higher. Sales were estimated at 100000
bales.
Receipts at the ports today 22,6S7 bales,
against 27,273 last week and $3.50 last
year. For the week $4,000, against l63,-
292 last week and 194,161 last year. To
days receipts az New Orleans were g.
52a bales, against 6,27S last year and at
Houston 5,944 bales, against Oil last
year.
NEW YORK Feb l Cotton spot closed
nominal, 50 points higher, middling uplands
l725, gulf 30; sales $500 bales.
fox