The Montgomery advertiser., 1906-02-22
MARKET FOR COTTON
CONTINUED LIQUIDATION AND
 PRESSURE FROM THE BEARS.
Decline Is Kept up and New Low Rec ord For the Movement is Estab-
 lished--Stop Loss Orders Come From the South. '

New York. Feb. 2f.--The cotton mar ket was very weak and unsettled dur ing todayTs session under continued liquidation and pressure3 from some of the local bears. The close was at a net decline of nine to twenty-one points with prices at q new low record for at 600,000 bales.
 The market opened barely steady at 2 decline Of one to four points and cline of ten points on the active months under stop loss selling through wire houses with Southern connections. At reports of a continued good spot the market raiiisd SIX or seven dle session. There was another sharp break in the afternoon under renew al of active liQuidation by nearby longs. however, prices sold below the previous low point. fresh stop orders were caught. and the market closed weak in spite of 2 big buying movement around aroana io;Se for May with that position ion at the lowest point of the session.
 Fear of March notices which Is in- creased by the fact that cfvtificates of block of the local stock prior to the first of May. seemed the chief cause Of the decline. New Orleans wires re, .evened up in that market and local bulls claim that the big spot buying indicates that spinners are willing to buy for future requirements.
 Southern spot markets were unchang- ed. The New York and New Orleans markets will he closed tomorrow for Vii bs Reespts att t6e ppT 25.4Is bales, against. is.4ss last week and 14.63s bales last year. For the week testimatedl. l2o.oo bales @ against I Today's rdeceipts at New Orleans, s.1oI l bales against 10.123 bales last year, and at Houston 6,435 bales against 6,S39 last year.
 Chicago Grain Market.
 Chicago, Feb. 21.--Strong cables and
 damage reports from Illinois and Mis- souri, contributed continually to firm close today in the local wheat market. Finn' quotations on May were 1-Sc higher. Corn was up 1-4 to 3-Sc. Oats showed a gain of Is, provisions were | ' 1-2c lower to Sc higher.
 Following a sharp advance at Liver pool the wheat market here opened
 firm wisa ss a May qg to For SS ta lime ss the market was steady on active bidding l by shorts, but heavy. selling by pit | traders who were bearishly inclined be- be- | United States caused the market to | weaken. There was little demand and i May touched S2. but shorts became ac- | tive buyers and the market soon de- | veloped considerable strength. The | rally was helped somewhat by reports | from St. Louis telling of damage to | wheat at various points in Illinois and | Missouri. Another bullish factor was | a correction on the statement of French | acreage made public yesterday. The l revised figures declared the acreage to | be BOG, GOO less than the previous re- port. Uncertainty regarding the out | come of the Algeciras conference was also a bullish influence. The market 1 closed firm with May at s2 1-2 to 5-S. | Liberal receipts had decline of 3-4 | to % in the price of cash corn weak | ened speculative values in the corn pit The market was firm early in the day in sympathy with the initial advance in wheat but the provision interests sold heavily and the mar
 late strength of wheat and q fair de- | mand by shorts caused a moderate re-
 covery. The close was steady. May l opened unchanged to 1-Sc higher al
 A to IS, sold off to 42 1-4 to S-S and
 closed at 42 5-S to 3-4. Local receipts
 Reports of an improved export de- I mand held the oats steady, The prin- cipal buying was by shorts. although
 commission houses took a considerable
 amount of offerings. The selling was
 shade to 1-sc higher at 29 3-4 to IFS
 to 29 7-s. sold between 29 7-S and 30
 and closed at 29 7-S. Local receipts
 were 153 cars.
 Provisions were inclined to be weak
 because of 10c decline in the price of live hogs. Local holders and commits
 sion houses were active sellers but of
 ferings were fairly well taken by pack
 CTS. At the close of May pork was of 2 1-2 at $15.60. Lard was a shade of
 at $7.55. Ribs were 5c higher at $S.2O
 yrha Iao5irg fhtnras ranged as foIlovye-