The Birmingham age-herald., 1904-03-30
CABLES PRIMER
 THAN EXPECTED Market Remains Firm for the
 First Ten Minutes DECLINE THEN SET IN Demand at Lower Figures Seemed to Be of Good Character, Represent ing Largely the Purchases
 of Spot People.
DECLINE THEN SET IN

New York, March g 9-The cotton market opened firm at an advance of to l2 points on covering promoted by rather frmcr cables than expected, so far as failures were concerned, though spot cot ton in the English market was in light demand at a decline of IS English points. Still, receipts promised to be light, and for the first ten minutes or so the market ruled firm with one or two of the active months selling slightly over the opening figures.
 Liquidation however, was heavy and New Orleans showing a declining ten dency, the market here soon weakned under more aggressive offerings, notably by brokes believed to represent a lead Ing Wall street bear interest who ap- peared endeavoring to catch some stop orders on the long side. The effort was successful to certain extent, and prices broke to a net loss of about 15 points, with May selling around 14.6o and July 14.n.
 Demand at the decline seemed to be of a very good character representing large " lHt puitfidscS ol SPct PNSPAS t'tiN DPii' ners, and around midday shorts of the scalping class turning to cover, prices worked up quite rapidly with May sell ing to 1494 and July to 1516. This was followed by more liquidation and in the last hour the market ruled rather easier, declining about Is to 19 points from the top. The close was teady at a net ad- vance of to IS points. Sales were esti-
 FHHA Aoa A-f- again chiefly of professional order, the public apparently not caring to enter the market prior to the Easter holidays. and a good part of professional operations seemed to be of an evening up character in anticipation of the markets being closed over the end week.
 The days figures regarding the move ment were very bullish. Receipts at all points are running very light and esti- mates of the weeks into sight are being reduced to about 9o,000 bales, or about 5000 bales behind last years. On the other hand, the other reports from the south concerning spot demand tell of lit- tie or no business with spinners, and while private advices indicated a larger export business, clearance reports of cur tailment in spinning circles are becoming more general.
 Receipts at the ports today, 12, 39S bales against 16.742 last week. and 31 903 last year. For the week, 65.000 bales, against 63 160 last week and 10S, 431 last year To- days receipts at New Orleans were 50oo bales, against 20e92 last year, and at Houston, 1749 bales. against 37O9 last year.
 New York March @.-Cotton dull; mid ding, 14.90c; net receipts, 325; gross re- ceipts, 4o43 sales. 400; stock, s105,57S.
 .1 tn1o RTaf 1gx.t. 1O ports to Great Britain, 15, ,4O3; exports to France 12350: exports to the continent, 7527; stock. 527 4o4
 Consolidated: Net receipts, 31, ,921; ex- ports to Great Britain 27,0S1; exports to France, 12,350; exports to the continent 16 SAP.
 Total since September 1: Net receipts, 6,6S4 435; exports to Great Britain, 2067 . 0s1 exports to France, e59 624; exports to the continent, 2,3a6206; exports to Japan, 9021.