The Montgomery advertiser., 1905-01-19

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 not the slightest effect upon prices althougl, | its besinping Knocked a visible hole in the | value of/cotton.
 The bears appeared to be deliberatIag over I bureau report the amount of cotton ginned prior to Jan. Is will offset the ef-
 without saying with the bears that the cen | sus report will be bearish. The apathy of | the bulls gave them courage and very
 little offering of cotton sent prices down | yesterdays closing and Il and 12 points low | CT than the highest levels of today. This
 carries the trading. up to o'clock,
 In the spot market the demand was not | strong In the earlier hours factors were
 firm and demanded yesterdays prices. Such
 prices buyers refused to pay and toward trading done at prices kc lower than yes l terday. Offerings were fairly free but up
 to o'clock total sales hardly amounted to Liverpool futures opened steady at a de- | cline of points and closed and noints
 lower than the closing of vest 'rday. Spots
 middling American losing points at 3.s1; ! sales. 10000; receipts. 10000.
 LOvEMAN & CO.'S COTTON LETTER. New Orleans, Jan. 1S.-The trend of to- days market in the face of what promises to be one of the smallest weeks movement l in January in recent years. probably not | more than 190, 900 bales, compared with 249.e00 bales last year, fully demonstrated how bearish sentiment is, and how aggres- give shorts would become on the first in dication of receipts increasing. Much ado was made of reports of spot holders in cer-
 tain sections of Texas, Louisiana and Ala. bama being more inclined to sell and of
 more cotton appearing at the uncounted | towns on its way to market than for some time past Receipts at the counted towns. | however. have been so small that they
 would dwindle to almost nothing if they were not reinforced by arrivals of larger proportions. The semi-weekIy statement ~Nw.A- AI,. AAI An
 have been lighter than calculated upon. 34.000 against 4s.000 last year and 64.00o year before last, while stocks at the same
 points denote loss of 14.00o bales. exciu- sive of minus correction of 10000 bales at Houston which was made today, compare
 with an increase of 5000 one year ago and
 arrivals for the day were 1s,ooo. against 25.- 900 last year: since Friday. S2,00o, against 117.000. Tomorrow's receipts for New or
 leans and Galveston combined were placed
 at 5000 to 10000, against 1s,ooO last year. while Houston expects but 2,500 to $500,
 compared with $500. There was some busi- ness doing in spots in early morning at quo
 tations. but because of the market being quiet, reports were generally circulated that market was 1-16c to hc lower to sell. Later
 in the day the market did become easier. announcement of the American National
 Bank of AbeIine. Texas. having closed its
 doors the capital of which was ass saii to have s15O, poo; loans, $297,0O0 figures of its last statement. Whatever may have been the
 cause of the. failure, the low price of cotton was blamed for it. Such occurrences have taken place in times of prosperity. but on account of the bank being in the cott1n belt, uneasiness was manifested lest other
 failures follow in its wake. There caa be no important break in prices as long al. the crop is moved slowly to market, and 1t is certainly coming in very slow. As regards preparations for the new crop. we have re- oeived wire advices from all over the belt telling of sales of fertilizers not being more than so per cent of what they were during
 last winter which is also the report of To- cal distributors, the largest in the South west. March sold low as 6.71, closed 6 73
 @6.74. Spots closed easy after opening
 steady; quotations unchanged; sales, 2,S5o.
 to arfipe. -1,soos middling. 7c. There was
 heavy trading in market during last half hour of regular session, about 40, 900 bales
 of May and July swapping hands. one party
 selling about 25,000 bales the two local
 bull leaders taking the long side of the transaction. which such interest developing. we can look for continued activity. or rath- CT a revival of same. Shorts became aggres- sive because of spots not being quoted lower, but bulls called their hands.