The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1904-08-23
LOveman & Co.'s Market Letter.

BY H & B. Beer.
New Orleans. August 22.-Everything
was to the liking of the shorts except
the course of the market. Weather con-
dtions were all that could be desired.
generally fair In most all districts OF
the belt, and rainfall for the entire belt
since Saturday averaged but 04 yester-
day, tomorrow, 3 today, and tempera-
ture ruled about normal, 94-74 for both
days Liverpool, however, showed an
advance OF about 4 points at one time
during the day, but finally closed I'M
changed from Saturday on futures. but
spots were advanced s points to IS I'D
for middllng. Sales, 1000 bales. The
sentiment In the English market is evil
IDENTIFY more bullish than In America,
private cable from there stating that
healthy business was doing at Manehes-
ter, with prospects OF It's continuance
for some time. and the opinion was ex-
pressed that the market would be higher,
near months advancing more rapidly
than far positions. Receipts for the day
were comparatively heavy at all ports
4.141 against S7S last year, and estimates
for tomorrow's arrivals at Houston was
placed at $500 to 6,100. compared with
s bales for the corresponding day one
year ago, while Galveston expected $500
to $500 against for the same day
last year. Our crop accounts by wire
than was received this day one week
ago, except that Texas and North Lou
isiana still complained of damage by
inseees, and In other scattered sections
of the belt rust and shedding were COM
planned of. The majority of traders, how
ever. are looking for less favorable
weekly report than last weeks, and In
anticipation of an unfavorable monthly
bureau report to be published Friday
ar II contracts
prevailing prices in hope of participating
In any upward movement that may take
place In advance of the publishing OF the
report. There was a great deal OF buy
ing of fall and winter months by the
interior, especially Texas, and not few
large operators supported the market In
substantial manner at New YORK,
where all the big haders in the market
are bullish.
An advance Of Lice In Texas spot mar
kets today Houston and Galveston adj
vancng 1-76c, served to eradicate the OF
fetal appearance of the advance, as did
an advance of 10 points for spot cotton
at New York and an advance of hc IN
the local spot market. Sales here, $50
bales. to arrive, 70 bales. Middling, 10lRc.
Futures In New Orleans opened steady
and about points higher for December
at 95s, which was the lowest OF the day,
gradual advance setting In Thereafter,
December selling as low as 9S6 at
which level 1t closed.
LeIshman & Co.'s Cotton Letter.
New York, August 22.-The cotton mar
ket opened firm and higher chiefly on
tie stronger cables from Liverpool which
came higher than expected They were
especially strong in the nearby options
ana helped to offset the favorable weather
map. The buying was scattered WITH the
shorts the principal takers. There was
some buying of the next crop months by
Philadelphia houses, but this was not
heavy enough to effect prices very ma
terially There was no outside demand,
and the bulk of the business was pro-
fessional.
There was no change in the cotton
situation The strike in the Fall River
district still continues with no signs of
settlement In sight. The dry goods trade
still remains in y poor condition, the out
look for a bumper crop Is good and with
no increasing demand for cotton there Is
incentive to the bulls on which higher
range of prices could be based and an
extended bull movement conducted.
The market will continue to be dull
affair with the weather tho chief infu-
ence for some time to come.
As long as favorable weather exists,
prices must certainly go lower, but II
some unforeseen calamity took place or
poor weather conditions continued for
time prices would naturally have sharp
advance.
However, all things considered. we are
still inclined to favor ths short side OF
the market.