The Birmingham age-herald., 1909-03-13
COTTON MARKET
 CONTINUES QUIET Rules a Little Higher With
 Close Steady NET ADVANCE 4 TO 5 POINTS Cables Slightly Better Than Expected at Opening, Causing Advance of
 1 to 6 Points-Rains In
 the Southwest.
NET ADVANCE E4TO 5 POINTS

New York, March 12.-The cotton market continued quiet today, but ruled a little higher, with the close steady at net advance of 4 to points. The market opened steady at an advance of 1 to points, in response to slightly better cables than expected, and increased and scattering covering, with prices at one time showing a net gain of about to points. There seemed to be no consid- erable cotton for sale every point up, with some of the local professionals inclined to attribute the offerings to leading bull in- terests. This checked the upward move ment during the afternoon, but the selling did not become aggressive enough to cause much of a reaction in the late trading.
 The improvement was in the face of further rains in the southwest. but the precipitation was slight and there was new talk that too much rain In the east ern belt Is delaying new crop prepara- tions. Today's map showed nearly five inches of rain at Montgomery. Possibly the tone of the market was helped lit- tie during the afternoon by reports that China had been buying cotton goods. with purchases the last day or two estimated at from 1000 to 5000 bales, butfit is sup posed that this business was closed at concessions. Local spot people report very little demand from day to day for export. Southern spot markets officially reported were generally unchanged. Sales, futures estimated at 75,000 bales.
 Receipts at the ports today. 2a545 bales, against 3S,2O7 last week and 15,59s last year. For the week, 122.000 bales, against 153, ,225 last week and 10o7S5 last year.
 Today's receipts at New Orleans, 3541 bales, against 23S4 last year, and at Hous- ton, 1903, against 2462 last year.
 Nothing special has developed in the way of price changes in cotton during the last week. Sluggish trading has de- pressed the market, and so have rains in Texas, even if the drought in that state has not really been thoroughly broken. The tariff agitation, the depression in iron and steel and the fear of industrial con tests growing out of lower metal prices and of the cutting of wages, have also been factors inimcal to rise In prices.
 Apparently. too, the south is not so se- riously impressed with conditions in Texas, or with the fear of possible ray ages by the boil weevil east of the Mis- sissippi during the coming season, that 1t is moved to buy at all freely. The crop movement Is not exactly slim. either. and believers in a. crop about as large as my ever raised think that events are justi- flying such a faith. Moreover, there have been tips that Lancashire would at least temporarily adopt short time. On the other hand, however, the pifce of raw cotton is considered cheap and another big crop Is thought necessary to meet the wants of the consumptive world. And ahead of the trade lie tho chances and dangers of the growing season.
 Wall street houses of late have been in some cases buying on all declines, ana whether the large spot interests have frightened their load somewhat or not they are believed to be still heavily committed to the bull side, and to be ready to fight a decline. Chicago operators in some in- stances have also been buying of late. At times during the week there has been a good spot business at New York and at various points in the south.
 Exports are liberal, and as soon as the way is clear for it, there seems every urospect of a large consumption AL least this is the judgment of very con- siderable proportion of the cotton trade. On Friday Liverpool was unexpectedly steady, and It's spot sales were quite lin- eral
 New York, March 12.-The following statistics on the movement of cotton for the week ending Friday. March IF, were compiled by the New York cotton eAcndHS nrouUMrNJT