The Birmingham age-herald., 1909-04-03
COTTON PRICES
 HIGHER FOR WEEK Rise In Stocks Has Influenced
 Market BuIIishIy SPOT MARKETS STRONG Trade for the Day Is Active, But Prices React After Selling Much Higher,
 and the Close Is Withfa
 Small Advance.

New York, April 2>-Priees for cotton have advanced under the stimulus partly of the stock market. Rightly or wrong ly the big rise in stocks Is taken by many people here as marking the return of better times. Stock exchange houses have been buying October. December and January cotton. So have Chicago people fired with their success in stocks and wheat. Liverpool has been undoing May and October straddles. The spot mar kets in the main have been strong, ex- ports large and spinners' takings liberal. Meantime the New York stock is stead fly decreasing and Is expected to go on doing so. The Balkan trouble is set tied British and German trade reports are more cheering and there are some signs of improving business in this coun- try And, there is the Texas drouth. It is supposed to be most severe in the southern portion of the state, but all sections of that big cotton field are sup posed to need a good drenching in the near future. If this does not occur, it is contended that the effects of the winter drouths and comparatively scanty spring rainfalls thus far must be serious.
 
 the movement, the market was somewhat reacttGnary in today's late trading, but closed steady in tone at net advance of 1@4 points.
 The market opened steady at an ad- vance of 3d5 points and sold to 8 points net higher during the first few minutes on overnight buying orders, bull support and stop-los orders. Real izing was very heavy at the advance and prices eaaed off BOA points in consequence but the cables continued firm, private advices from Manchester were encourage ing the forecast was for continued fair in the southwest, and with outside de- mand broadening, the market soon firmed up again, reaching the highest point in the early afternoon, when May sold at 9.65c and October at 9.42c, or to 8 points above the closing prices of last night; something like 35 to 45 points above the low level of last week, and within 5m9 points of the high records for the sea- son. made toward the end of last Jan uary.
 Toward the close realizing sales be- came heavier with some of the local com mission houses advising their clients to take profits for over Sunday, and last prices were about the lowest of the day. Southern spot markets officially reported were 1-16c to 1so higher. and private wires reported a better demand with interior holders very firm in their views. The dry weather in the southwest seems to be attracting more attention on the ground that the season is approach ing when rains of such an ex- tent as would offset winter drouth will do damage. while with continued dry i weather the crop vii be subject to drouth damage this summer
 iptc at fI1n ,ny.fo tnda hal laq against 12473 last week. and 15,232 last year.
 For the week, 100 GOO bales. against 99, ASA last week and 1OS075 last year. Todays receipts at New Orleans, 12S7 bales, against 3400 last year, and at Hous- ton, 2974 bales, against S91 last year. New York, April 2.-The following statistics on the movement of cotton for the week ending Friday. April g.