The Montgomery advertiser., 1905-01-06
HAYWARD. WICK & CLARK,s COTTON
 LETTER.
tBs Direct Private Wire to Virgin & Fauno,


 New Orleans, Jan. 6.-The bears in the cotton market this morning again had wis., ions Of cent cotton. The English market hit values mighty. and totally unexpected. blow. which, after the declines toward the closing of the American markets yesterday turned the possession of the ring over to the bears again. But throughout tnday's session there was [ vague undercurrent Of feeling which made the bears uneasy; there was altogether too much bull talk from solid interests and the farmer kept too tight Q hold on the 100000 bales of cotton he Is supposed to have.
 It was pointed out by fair minded trad Orleans curbs developed decided weakness yesterday, the news of which was cabled to
 Some little selling was in evidence during the morning and this served to send prices below the opening levels. Toward noon short covering caused a partial recovery. but ht the highest ieevls in the trading up to o'clock prices were 5 points lower than the closing of yesterday.
 In the spot markets offerings were ex- trsmeiy limited and factors refused to meet the decline. Up to o'clock sales In the spot department hardly aggregated 1000 bales. large number of answers in re- points said that the farmer was holding his cotton more firmly than ever and that wagon receipts were next to nothing.
 The smallness of this movement may be partially due to the holidays. but the unani- nous determination of farmers to hold for higher prices Is undoubtedly the chief
 The movement into sight is wonderfully small this week. It does not look as If 1t can exceed s75,o0o bales. which compares with 3Ai, 00o last week and 323, ,2S7 last year. This estimate looks very small but when putting the items on paper 1t requires Q stretching of the imagination to make # larger. The visible supply statement will compare with 6 total increase last year Of ss, 024 bales and an increase in 1903 of 1s,- sio, ana 1s. decrease of Americsn s.oI last year ss0. spinners' takings win compare with ss4.oOo last year and S4s.OoO In lsO2.
 Cables from Liverpool said that Americans and importers were doing the selling.
 CHICAGO GRAIN AND PROVISIONS.
 Chicago. Jan. 6.--Lower cables coupled wheat offset a buIlish situation as to flour today and caused O weak finish in the wheat market. FinaI quotations on May wheat were off @%c. Corn also is down o Ee Oats show loss of hc. and pro visions as Glshc.
 The wheat market opened firm with May up shade to % Q Nc at 1.14N 01 .14%. The cash situation in the Northwest was the principal cause of the early strength. News from Minneapolis was quite bullish. a clailn of wheat had been ordered taken out of etor" fn En to outside mills Tn addition 1t was reported that elevators stocks there yesterday decreased 125. 900 bushels. An other bullish influence q cablegram from Argentiina stating that the wheat yield in Buenos Ayres province was consid-
 
 rains were interfering with late harvesting. Lower prices at Liverpool, however, had a depressing effect on the market here. Re- ports of the excellent condition of winter wheat in the ITni.ad States also gave en- couragement to bear traders Many of the pit traders were apparently bewildered by the conflicting reports and remained inert. As . result the volume of trading was rath- CT small during the first part of the day. Later the market became more active and caused some anxiety among To- cal shorts. who covered freely, forcing up the price of the May delivery to 1. Is M. Dur ing the last hour of trading however, all May sold off to 1.14M. The market closed almost at tho lowest point, with May at
 throughout the entire session the corn market was subjected to liberal selling by commission houses. Increased local re- ceipts and an absence of export demand were tho chief causes of the selling pres sure. shorts were the principal buyers. The market was weak throughout. May opened a shade to k@Ac lower at 44A @44& and Local receipts were 2ss cars, contract
 Heavy liquidation of the May delivery by local longs characterized the trading in mAnd was not sufficient to absorb the offer inss. Tn consequence the market was de- cideily weak. May opened unchanged to a shade lower at 31h @S1N to SIX, sold off to s0% and closed at the lowest point. Lo cal receipts were 61 cars.
 Provisions were weak as a result of re- newsd liquidation by local holders. The in- crease in contract stocks was again the prin- cipal factor. At the close May pork was down io@12hc at i2.6C@l2. 62h. down sNa5e at S.s7H 0s.sO