The Montgomery advertiser., 1905-03-01

level to which prices went put the active positions only points lower than the clos ing of yesterday. By the middle of the morning 1t was ascertained that the country was not . free seller of spots. and from the o'clock the active positions were unchanged to point hiEher than the close of vestsr- We received teiegrams today from . large number of points in the cotton belt in re- ply to questions we sent out in regard to the f of these tsIegrsms M said % that the the % spos of. ferfngs were not free. and that farmers were refusing to meet the decline. Some tele- snt decline wss wei well under under way and n: the e'ss es feet of this selling may be felt in day or two in . continued heavy movement. The which consumed 10000 bales of cotton here Sunday night would not lessen the move ment of cotton to this port. There is no company affected has made complete pre- parations for handling its freight just as it did before the fire at It's docks
 There was a fair demand in the spot market throughout the morning and up to o'clock. About 5000 bales were sold on the spot. In the earlier hours trading was the improvement in futures factors refused to make concessions demanded by buyers and at o'clock conservative spot men called the market quiet and unchanEed al. though there is no doubt that the bulk of the trading of the day had been done at the decline noted above.
 
 weakened by liquidation of longs on reports of freer spot offerings in the South
 q. '. PIERCE CO.'S COTTON LETTER
 (By Pri, ate Wire from Gibert & Ciay.)
 New Orleaais. Feb. 2s.-A continuance of the good business in Manchester and large spot sales in Liverpool were the factor of early strength in options in the latter mar ket- Towards the close. however, prices yielded on selling orders from our Eastern cotton markets and finally closed f2@3 points under yesterday. Spots. on sales of 12.000 bales. were unchanged.
 Good weather. large receipts and only usually eontroiiins fiuctuasions. Hue H suggested ss further depression this morning. On this theory some selling was observed around our opening, which caused slight decline in values. Later numerous reports indicated that the interior was again on the offensive and refusing to sell, at reduced prices shorts covering. resulting in opening prices being about restored. During the morning spots were said to be easy but later participated In the generally steadier feeling.
 Conditions do not favor speculative sup. port and there Is none. 1t having been quite conclusivesiy shown that moderate advances bring out cotton sufficient for all require- ments. but mills generally are doing good business and a steady demand is most pfob- able. The weather fulfills all requirements ana receipts have promptly reflected the change. If the interior is able at this late date to demonstrate by curtailing the movement determination to withhold cot
 
 tn prices should ensue. '
 yL0vEMAN & CO.'S COTTON LETTER.
 New Orleans, Feb. : as..-Ali things con. sidered the market held very we'll today Liverpool was anything but encouraging, of to 3 points. but there was a good bust. ness reported in actual cotton. sales amount. ing to. 1a.ooo bales at unchanged quotations
 What gave tone to the local market which opened at about last nights level afterwards selling off 5 points to 7.1o for This afternoon it appears. according to our informatien. that the loss by fire win prove 10 pc larger than calculated upon. export greater than figured on. and 1t is now said that the total loss might be close on to sS'oyo s a oaIes .a against an approximated loss
 Finding it necessary to make good their snortase In the way of Immediate ship ments. buyers went about quietly. buying to replace cotton destroyed by fire, sales on ths open market amounting to 5000 bales and 300 to arrive. market closing steady and unchanged. middiing 5-1sc
 The movement for the day was compara. lively heavy. at all ports ss.f fls. last year ll.I4l, and while expected arrivals at New smssSns.. U1ieans ton1orrow on % gre rather light the iirst Of the month when receipts are usually light. In Texas. however. arrivals continue snT1a to,Snrro SsiSeston xpeeting 5000 to $500 v looking for 10.5O0 to 1i.500. last year D. SIS. Thus far this week reccipts at all ports are even larger, as.l5S. last year t5.2s5. leaving stock at all ports today at es2, i26. last year 6826S5.
 official reports. however. show cotton to be, making its way 10 the ports at n lively rate. tomorrow's semi-weekly statement promising to show upwards of 50,00a bales received at the thirteen principal inland points. compared with 3a.000 for the same period last year, and with 44000 for the; same time pear before last
 Rumor had 1t today that one of the larx-, est cotton syndicates in France had failed. which. however. was without effect upon the market The weather continues favorable In the belt and the official forecast and map indications are for fair weather west of the Mississippi river tonight and wesnes- gay. Market closed at about highest of the gay the reaction being due to the improved demapd this afternoon to replace cotton destroyed by the fire.
 V