The Montgomery advertiser., 1905-02-10

1 and 6 points. Liverpool was not up to expectations and traders there flooded this market with the most DessimIstic set of cablegrams seen in month. Even the paper on which the messages were written had blue tinge. This was all that was needed and the local bear crowd waded in for c killing and before they had tsgSr fill they had sent the principal months &sEn for a decline of I9 and 21 points when compared with the close of yesterday.
 ] At no time did futures stand ghost of show of going up anywhere near the level of yesterdays close. The break would un- doubtedly have been wider but for great deal of eager profit taking by shorts. This was all the support the market had.
 The bears were encouraged in their work by widely spread rumors that leading bulls in this market had been unloading and that the country was eagerly offering spot cotton. It was authoritatively denied that local bulls had been selling and exporters said they still found it hard to get cotton in the interior at reasonable prices
 The clearer weather brought out large number of spot buyers who eagerly bid for everything put out in the sample rooms. Early in the day, even with the decline in futures certain lines of cotton were said to have brought an advance of 1-1ec over yes terdays prices Later in the morning the market was called firm at quotations. Up to noon about 5000 bales had been traded in on the spot. while sales of f. o. b. cotton amounted to about 25.000 bales: 2.o00 Of the latter were traded in in one transaction. J. S. BAcHE CO.'S COTTON LETTER. (By Direct Private Wire to Virgin & Faunce.
 Mapagers: Phone 73S.l
 New York, Feb. s.-Liverpool cables in- aicated rather conflicting conditions abroad. The advance of 10 points in spot cotton was accompanied by a continued liberal demand. l2.000 bales being sold but futures met with pressure and at the hour of local opening were points lower. The large spot sales in the English market are probably an holders to sell and the extensions of time granted to American spinners. leaving some Manchester people in a position to make up in immediate requirements out of the large Liverpool stocks. The weakness of fu- lures reflected according to private cables York and New Orleans and freer SoutherP offerings generally.
 The local market opened easy at a decline of 1 to points Wire trouble prevented receipts of the usual figures and Southern news. and trading here was pretty nearly morning when some New Orleans selling orders came through. Locally 1t was re- ported that new bear clique had been formed and had sold heavily in Liverpool this morning, and were selling here through the early session. Prices declined to a net sure and quotations in New Orleans showed a like loss. There were persistent reports of freer spot offerings. particularly from Texas, where. of course, new crop preparations be- gin earliest.
 The bad weather for the time being. how Inent and receipts continue abnormaily small.
 It seems to us that no advance of mo- ment can be expected for the immediate fu- ture at any rate. Higher prices at this time will threaten the acreage reduction plans and 1t looks to us as if leading Southern longs were reducing their lines on all firm spots.