The Montgomery advertiser., 1905-04-01
LovEMAN 6 CO.'S COTTON LETTER.

(By Private Wire from H. X B. BeerD
 New Orleans. March 31. The strength of the market is generated at New York, where professional manipulators have con tro of affairs for the time being. Their position has been made almost impregnable by the smallness of supplies there, certi- fled stock 6O.00O. with which to protect speculative interest of probably as many been. that little cotton to speak of has found its way to the Northern market ac- CTS and the inability to draw cotton to New York from the South. except at a loss All this has developed at a time when movement to market was heaviest on record for this period of the year. the makeup of which movement, however, was cotton in course of transit and for export to Europe. In other words receipts at all ports during the past month. large as they were. added to port stocks but little. Britain. having been so heavy. All this is history of the past and as we are about to enter new month, which practically opens the cotton planting season. new de- velopments may be looked for. The move ment to market will most likely continue heavy. and we dare say will run ahead of last year from week to week by about 100 900 bales for some time to come
 The interior is holding the cotton and will have to find market for 1t. Ship ments to Europe have been on record breaking scale. already 6.300,O00 whereas Europe's consumption, at the most, will not be more than 7,500. 900 bales and in .ad- dition to the shipments made to date there is a great deal of cotton in transit to the ports for account of foreign spinners, not to mention the amount on shipboard awaiting clearances.
 For the moment it would appear that the demand from abroad has been satis- fled, and if such does not prove true, then whatever buying that may be done hera- after will be for an investment, fearing that the South will raise a small crop next season. If the demand continues, longs in the American speculative markets may dominate the market. but if there is a mo- ticeable falling off in exports, operators will find that the South will make a happy dumping ground of the speculative centres by throwing a portion of the surplus upon the future rings if no other outlet is pos sible.
 Spots here closed quiet and steady ani unchanged. a smaller demand in evidence; sales, 1,500; to arrive. 800; middling, 71se July opened points higher than yesterday, advancved to 7.56c and declined and closed at 7.46@7.47c. The United States crop movement: Overland for week 2L- 073; since Sept. 1st, S23.e5 In sight for week 254, 172; thus far this month I027- 4SS; since Sept 1st, 1O,632, 236 Crop is now running on a basis of II, ,437 900, and will be on basis of about 11,76O00O by end of April. if not before Monthly United States crop movement: In sight March sIst Re- ceipts at all ports since Sept. 1st Ts3b, TT against 6,709, 203: overland, since Sept Ist S23.953 against s66,S02: Southern mil talk ings since Sept 1st. 1.47s. 900 against ss5,. coo; interior stocks in excess of Sept Ist 495.i06 against 2s5,2so, Total insight to date 1o,652,23s against 9.206. .2ss. March movement 1.o27,4ss against 4sz,sos. Final