The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1910-03-25
SLIGHT ADVANCE
IN COTTON MARKET
Bullish Trade and Crop Re
ports Send Prices Up
EXPORTS ARE HEAVY
New York Bulls and LIyerpooI Bears
EXPORTS ARE HEAVY
Are Fighting Hard to Control
Prices but the Outlook Is
Very Uncertain

New York, March 24-With the Easter
holidays at hand, trading in the cotton
market was greatly restricted today and
fluctuations were narrow with the close
steady-a net advance of to points.
The market opened steady at an ad-
vance of l to 8 points on scattered cover
ing and a little support of the near
months from bull leaders, who were in
fuenced by the firm showing of the Liver
pool cables, bulish foreign trade reports
and continued dry weather in the south
west. There was no general buying move
ment and shortly after the opening the
market turned shade easier under scat
tering liquidation. The western belt fore
cast called for generally fair and cooler
weather tonight and tomorrow and after
selling off to a net loss of about l to 3
points the market steadied up late in
the day on covering by room shorts. The
close was within a point or two of the
top on active months. Exports were un-
usually heavy, amounting to about $4,000
bales.
1t has been week of fencing between
bulls on this side of the water and shorts
in Liverpool. The result is that prices
have shown NO marked change either
way Liverpool has just started 10000
bales for New York for delivery on May
contracts and In a few days New York
bulls will send as a counter stroke 2O,OOO
bales to Liverpool. During the past month
So 900 bales have been taken from the GER
titled stock here and some of 1t, at least
has already gone forward to Liverpool
Recently 1t was stated that the Ameri-
can bulls would ship $1,000 bales to Liver
pool. AS a counter blast. Liverpool dis
patches assert that in all some $4,000 TO
30 600 bales will be shipped from Liverpool
to New York. In other words big
transatlantic speculation game Is on
Three Liverpool houses are shipping to
New York and the bulls big four"
Messrs. Patten Hayne, Scales and Brown
are meeting the counter moves on the
business chessboard. They apparently
ain. to corner the May option.
Manchester has been waking up. Its
sales of cloths and yarns have been In
crea sing, 1t seems, at such rate that
number of mills are resuming work on
full time. The spot and call business In
Liverpool has meanwhile noticeably in
creased. The continent has been buying
freely there, At Alexandria. Egypt, prices
have latterly advanced. Liverpool has
been buying here. Leading bulls have
from time to time given support and
Wall street has also been buying on re-
ports of greater activity abroad and eSp-
tinued drouth in Texas. On the other
hand. however. general speculation has
been dull The outside public holds aloof
American spinners, for the most part
seem to hold aloof from the spot mar
kets of the south. Fall River sales have
been small Some southern advices are
to the effect that the ginners' report indi-
Gates that the crop has been underesti-
mated Leading bulls. according to the
general belief. have been selling May
quite freely at times to reduce their load
or to head off shipments to this point or
to fortify themselves for further manipu-
lation IT is said that English shipmehts
to this market involve a loss of 81 bale.
American shipments to Liverpool are
either on even terms or mean much
smaller loss than this and believers in
higher prices here think that the Amer
ca,i bull party can keep up the shipping
business longer than their transatlantic
opponent During the week small net
loss in prices of this crop has occurred.
while the next crop has advanced slight
y, owing in part to the fact that they
are al a good discount under the present
cror and partly because of continued dry
weather over the greater part of Texas.
Many are simply awaiting further devel-
opment, being puzzled by the existing sit
uation.
Receipts at the ports today 26,132 balese.
against 1920 last week and 1885 last
year For the week 100000 against 1856
last week and 1894 last wear. Today
receipts at New Orleans 1858 bales, against
9267 last year.