The Montgomery advertiser., 1904-06-11
VIRGIN . FAUNCE's COTTON LETTER rrtv N

l
 VIRGIN . FAUNCE's COTTON LETTER
 - lover Private Leased wire)
 NEW YORK, June ie.--The cotton future market opened rather weaker in tone to- day with first prices at a decline of to ! points. There was further loss immedi- ately a result of scattered 1iQuidation There was also some bear pressure en- couraged by the relative weakness in the Liverpool market. The weather map not ed generally favorable conditions and the crop conditions were interpreted as quite favorable. The July option continued to attract considerable attention. but the fluctuations were wide and the operations indicated that only the larger and more important interests were operating in the old crop months. The observers generally figured that the old crop months would continue to move in . highly cratic man ner pending more definite information as to the actual market position of the pro fessional interests which are now active. As the day wore on the market ruled a trifie steadier. but up to the last there was con- siderable irregularity and much difference of opinion as to the amount of trading ele- ments. The business a whole was of moderate proportions. The spot markets were quiet and steady The port receipts were 5000 bales today. against 2,74o last week and 2.ss7 last year. For the week the port receipts were figured at 14.00o bales, against 13.o2s last year. At Houston today the receipts were 155 bales. against 225 last year. while at New Orleans there were l. 5o7. against 1.765 last year. In the latter part of the day the market was rather ner- vous The weekly statistics on the whole were about looked for. The insight for the week was for 1g04 2s.0s1; for 1903, 41 : sos; for 1sos 4i,o54. and for 1901. 5s.45s. G. E. FIERCE & CO.'S COTTON LETTER. tBy Private Wire from Gilbert & cIayD NEW ORLEANS. June 1o.--The Liverpool market, while fairly good at the opening. | showed weakening tendency towards the close of the session. frmer market mig ght | have been entirely in order judging from | the tenor of cables received, which report Ia chester. an expectation of spinners buying l freely for the immediate present and ex- pressing the opinion that present prices did not incur much risk.
 A moderate amount of selling of new crop | options on the opening here was noticeable. | emanating presumably from recent purchas- | CTS who were dissatisfied with the indiffer- | ent foreign market, but at the lower levels 1 established the market became quite steady. | The somewhat burdensome, short interest became prominent when reports of damage by excessive rains and flood in the North | western portion of the belt were received. 1 and in their efforts to cover forced prices | A moderate amount of buying of old crop
 months sufficed to materially advance those | options. which have become entirely too
 sensitive to be attractive to conservative | traders. while fears of damage by excessive l rains are not infrequent and should be l given full consideration. Our crop reports | are generally of satisfactory character, | indicating good stands and clean fields al this season. While these varying conditions 1 prevail traders could best conserve them | selves by closely watching the entire belt l and avoid being influenced by a state oi
 affairs purely local
 Caldwell. Ward a Co.'S Market Letter. l NEW YORK. June 10--In the stock mar T lSet today there was considerable increase I in activity and the other characteristics ol the market were extremely encouraging. Il T was fairly evident that the larger interest; had developed new confidence and to some I extent, this fact Was ascribed to the po-
 litical influences which have brought about
 the appointment of Attorney General Kno,
 to be United States Senator succeeding thu
 late MT. Quay. decidedly favorable i'm
 precision was created by the latest bankers
 offering of bonds which was interpreted a.
 indicating belief in high circles in botf
 financial and political improvement. Gen
 eral betterment In crop conditions and thu
 expectation of favorable return in thu
 crop report today contributed to the nor,
 -buoyant temper of speculation
 The Anthracite coalers continued agEres
 siveiy strong on the highly encouraging re ports of trade prosperity. The Grange
 shares were strong on the belief in the i'm provement in spring wheat crop. Union ant
 Southern Pacific were helped by the reiter ation of rumors of a peaceable settlemen
 of Northern Securities controversy out o , court. The prosperity of local traction sys . | tems gave a decided stimulus to this clas
 of securities and Metropolitan Street Rail way advanced nearly 2 per cent, and Brook
 lyn Rapid Transit rose point. The marke
 closed strong and active. Total sales sos. 100.