The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1904-06-07

Cotton-The chief item of Importance
in connection with the Liverpool record
today was the increased quantity of spot
sales signifying a willingness of some
people to take hold of the actual cotton
regardless of pessimistic notes that have
been sounded in all directions.
The weekly Manchester report remark
ed that business in manufactured goods
was restricted by unsettled fluctuations
in the raw material. but 1t is possible
that with the existing concession in
price, spinners will modify their adher-
ence to short time.
The growth of bearish sentiment was
duly manifested at the opening here when
prices were forced steadily down under
pressure of offerings for both short and
long accounts. Reports of damaging
rains In the western belt created a tenn
porary furry but the strain of offerings
hnally outweighed the demand and kept
the market close to the low point
. " nile the position of bears NAV he
the right thing. there is little doubt that
the short side has numerous company
and its popularity Is daily Increasing.
The fact seems to be overlooked that the
crop is still susceptible to unfavorable
developments which generally come in
the nature of a surprise.
Meanwhile 1t is TO be noted that fair
demand is at hand for spot cotton Of
grades that are not available, and should
buyers turn their attention to the quail
ties In stock the situation will be mater
tally relieved
Wheat-The reports from most SER
tons of the country are contradictory
and caused sharp fluctuations. The great
-.
believed by many that the contract hold
ings OF July wheat by local party are
or such magnitude as to enable them TO
put values to very high level, hence
the curtailment In short selling While
the trade has seemingly been large, the
recent news does not bring out the in
vestment demand with natural causes In
a general advancing market, and the more
distant futures Lave been severely let
alone except as to some selling on the
part of the northwest where better crop
reports are received from
Corn.-The large receipts of corn this
morning together with increase in amount
on passage caused weakness in this cereal
through the session There has been IL
quotation Of large lines the past few DAYS.
and with this weight on the market weak
holders have been inclined to let go. The
cash markets as well have shown no rail-
~ hS pO"tif tilt utIldllu mas DTdC-
tically eased off, while receipts and coun-
try offerings are to the contrary Crop
reports are mostly of a favorable char
acter.
Oats.-Have suffered from dullness and
the decline has been more in sympathy
with other grains. Some fair selling of
the September kind by prominent COM
mission house supposed to be bought
stuff. Crop reports show Improvement.
Provisions.--P " s I ons developed
strength notwithstanding the weakness In
hogs and grain ntarkets. and closed firm
at moderate gains Most of the day Of
ferings were scarce and demand from
packer interests which was principal for
ribs lifted the Whole list Selling scat
tered. Cash business show better de-
mand.
Stocks-The stock market had but one
feature today and that was Ontario and
Western, which was steadily bought in
large blocks.
We think It wise, however, owing to
information received to take fair returns
in this stock on the long side.
We doubt very much the maintenance
of a further advance. This is but a
trading market and speculation is stag
nant so that scalping is only profitable
We think Brooklyn Rapid Transit may
be taken In hand any day for turn.
We would also watch Steel preferred.
Total sales, 100000.