The Birmingham age-herald., 1912-01-04
SHARP REACTION IN COTTON MARKET
Net Change for Days De- cline of 3 Points To
 Advance of 2 Points

New York, January S.-An opening ad- vance in the cotton market today was followed by rather a sharp reaction and while last prices were or points up from the lowest, the final tone was bare ly steady. The net change for the day was decline of points to an advance of points. with the active months un- changed to points lower.
 The market opened firm at an advance of 3 to points and active positions sold 6 to 10 points above the closing figures of last night immediately following the call on overnight buying orders, many of which were supposed to reflect fresh business attracted by the strength oi yesterday, continued support from lead ing spot people and covering of shorts The firm showing of the Liverpool spot market probably encouraged the initial advance which carried prices approxi- mately 60 points above the low records of last month around 9.ioc for January and g.3Sc for May, offerings became very heavy. There was not only realizing by recent buyers for turn but there seemed to be a renewal of southern selling, while there was also reselling by local bears, who had recently taken profits and all though offerings were pretty well about the board on a scale downward, as the market worked gradually lower. Cables from Liverpool reported that the con ference between master spinners and Lam cashire representatives have been ad- journed without results Advices from Italy claiming that the war was seri- ously interfering with export business; rumors of bearish ginning figures. and reports of freer spot offerings in the in terior all tended to inspire selling on the decline and the market at one time during the afternoon showed on a net loss of from to 6 points. Renewed sup port from leading bull interests checked the break around s.97c for January and 92ic for May. with last prices a shade up from the lowest on covering. Memphis wires reported that returns to the Ma tlonal Ginners' association indicated 14- s70,o0o bales of cotton ginned to January l. This, it was said. suggested bigger ginning for the last period than the aver age for the past six years. and in con neetlon with the talk of increased spot offerings probably account largely for the afternoon decline
 Receipts today s9,ss9 bales. against s2.- S52 last week and 64,6l6 last year. To- days ~receipts at Galveston 21.137 bales, against 12,372 last year; at New orleans l4.Se4, against 17,46i last year and at Houston 12.Oe5, against 257o last year,
 Daily Cotton Movement
 Galveston; Steady; mddling, sssc; net receipts. af,1S7; gross receipts. 21,- 137; sales, 1905; stock, 45i,s02; France, l1.575.
 New Orleans: Steady; middling, 9 3-16c; net receipts, 14.7S1; gross re- ceipts, 14,SS4 sales, 1900; stock, 30l,- 6S9; Great Britain, 5o
 Mobile: Net receipts, 3977; gross re- ceipts, 3s77, stock, S6,6i9; eoastwise, 62.
 savannah: Steady; middling, SAC; net receipts, 1s,45o. gross receipts, 1S,45o; sales, 3390, stock, 265,470; continent, 1S,741; coastwise. 3625.
 Charleston: Steady; middling, Ssc; net receipts, 47o; gross receipts 47o; stock, 43,O26.
 Wilmington: Dull; middling. S9se net receipts, S46; gross receipts. S46; stock, 1s,971; Great Britain, 12,43s.
 Norfolk: Steady; middling, &c., net receipts, 55S7; gross receipts, 55S7, sales, 1890; stock, 59,S25. coastwise, 3539.
 Baltimore: Nominal; middling, 9$c; stock, 4S03.
 New York: Quiet; middling, 9.35c; gross receipts, 2193; stock, 1sS,052; con tinent, 300; ooastwise, 1895; Japan, 30b6
 Boston: Quiet; middling, 9.s5c; net receipts. 12o2; gross receipts, 257o; stock, 10,991.
 Philadelphia: Quiet; middling. 9.60ci gross receipts, 25 stock, 237s.
 Brunswick: Net receipts, 2953; gross receipts 2953; stock, 5326; Great Brit ain, 15.03s; eoastwise, S72
 ,Gulfport: Stock. 563S.
 Port Arthur: Net receipts. 12,000. gross receipts, 2,006; France, f2,000.
 Texas City: Net receipts, 2S35; gross receipts. 2s35; stock, 70,300.
 Port Townsend: Net receipts, 11,01i; gross receipts, Il, oil; Japan, 1f,O11.
 Total today. at all ports, net S9,sS9; Great Britain, 27526; France, 23,575; continent. 19,e1t; Japan, 14,o67; stock, 1.5t7,s2o.
 Consolidated, at all ports, net 2i6,6s2; Great Britain. 99,695; France. 44.6s9; continent, 115.9s0, Japan, 4S,96o; Mex ico, 200.
 Total since September 1, at all ports, net 7.393,671; Great Britain, 2,204,s2S; France Gs4013; continent, 1,212,960; Japan, 216,099, Mexico, 34s5