OCR Text |
Show Exciting- Times on Market. New York. Jan. 30. Never before has such an advance ns that of this morning morn-ing been witnessed overnight in the cotton market and perhaps never he-forc he-forc has the market shown such wild excitement. Cables from Liverpool were spectacular. spectac-ular. Thev reported an advance of "3 ' to S3'i points when they were expected to be 5!A(7j10 points lower. There were sensational advances from Liverpool also mentioning a corner In January and February, with exciting buying on slop orders and rumors circulating regarding re-garding the condition of continental, Liverpool and American houses. Here first prices were at an advance of 42 to SI points on the other and 12 to 4S on the new crop months. March, which last night closed at S15.S2, opened at S1G.25. sold up to $10.42 on the call. I May, closing yesterday at 310.04, ad-! ad-! vanced to S1G.70, and July, closing at $16.18, opened at $1CS0. There was heavy liquidation and Immediately Im-mediately following the call prices sagged off a few points, but the market mar-ket remained very excited, with trading tremendously active. The liquidation following the call carried car-ried the active months down from 2C io 22 points, with March selling at 10.20. May $10.50 and July $16.50. But at this point there uus bull support, and the market was forced up to a still higher level, with March reaching $16.43. May $10.79 and July S16.60, a net advance on these months of. 72(75 points. t The close was at near the top and .steady with the nearer positions 57 to 75 points up and the later months 2 to 18 points net higher. The sales of the day (estimated) were 100.000. |