The Birmingham age-herald., 1904-08-18

guided entirely by the action of the els Atlantic markets. Early cables furnished full response to our higher levels of yes l terday but with the lower tendency of the first hour of our trading their gains were nearly all lost. New crop opinions finally closing l to points gain as the result of the days trading. Spot sales were 5000 bales at F points advance. Manches- ter reported dull yarn market and 8 fair amount of business doing in cloths.
 Fair weather prevailed over the entire belt, with a good rain at Oklahoma the only exception of note Temperatures were not shown to be higher than bene- ficial These conditions were sufficient to induce a certain amount of selling, al- though caution, prompted by the belief that further assurances of crop deteriora- tion would not be infrequent, was appar- ent In this connection and in view Of the bumper results of July-August rain- falls in past seasons, regarded excessive at the time, it would seem logical to in- fer that damage to the crop will have to be from some other cause. However, the condition of the plant consequent to the continuous rains is such as to make the absence of excessive high temperatures much desired as well as frost date not unusually advanced on account of the delayed maturity.
 2 yield has not been jeopardized but expect a continuance of scalping market until the weight of the movement may be a greater factor.
 Wheat-There was a very strong open ing due to higher markets abroad, low temperatures in the northwest with an advance in Minneapolis greater by far than witnessed yet, and due to the num- erous crop damage reports that grow Un m plo log af fha fields. Very little wheat was for sale ex- cept in a realizing way, and many of the sold-out bulls reinstated their lines at higher prices.
 The southwest markets were very strong; foreign buying was in evidence here to quite an extent, and feature was the premium established on Decem- Der over September.
 Elevator people were heavy buyers of September and 1t looked as If some short interest had been compelled to cover in December Tremendous realizing appeared with prices working off toward the close. A very nervous and unsettled feeling prevailed
 Higher prices may be witnessed with should by all means advise taking profits on these advances.
 Lelshman 6 Co.'s Cotton Letter.
 The cotton market opened weak this morning on more favorable weather throughout the cotton belt and lack of bull support. Liverpool sent higher cables but they were Ignored in the trading here The spell of showery conditions has been broken at last, and fair weather Is now predicted for at least thirty-six hours ahead
 With the prospects of good growing weather, the plant will make rapid pro- gress. and the damage that resulted from rain last week will be capitalized by a week of clear weather. which would do much to bring the plant out of the tender condition at present, Philadelphia houses were heavy sellers of December, and the support which was expected from prom inent Wall street bull was lacking
 The southwest was heavy sellers of De- cember and selling by Wall street helped the decline. Trading was not active and a majority of 1t was for professional ae- count.