The Birmingham age-herald., 1904-05-26
cothran 6 Co.'s Market Letter.

Cotton.-Cotton seemed to be incapable of retaining the friendship attracted yes terday and a change of feeling for the worse spread over the market in consid-
 erable measure. The chief causes con tributing to this condition were continued apathy on the part of spinnerS and fears
 of an early beneficial precipitation of rain in the eastern belt, from whence com plaints of dry weather have Circulated
 with corresponding influence on prices Liverpool was inclined to think one way and acted the other. Futures made some effort toward improve lnent, but in the spot department a veto was imposed, as the small sales clearly indicated that spinners were in no mood to be driven.
 Initial trades here were effected at a moderate decline which was subsequently
 magnified by increased offerings for both
 accounts Fairly large spot sales occa- stoned some recovery but left no lasting impression, and altogether the market semed to be in need of more earnest sup port. The spot sales referred to are
 though to have represented simply a transfer of actual cotton in return foi May or July contracts, and the signiff- canoe of such a transaction is that cot ton Is moving to its ultimate destination without the necessity for fresh purchases
 The general outlines of the situation re- main unchanged. Without n continuous
 demand for actual cotton, further weak
 ness is likely to develop In summer
 months above prevailing prices unless a serious accident happens to the plant generally.
 but there was a sharp bulge in May Of
 3 cents and old July was bid upon a de-
 cline in consols that was attributed tc faa of icry ar,lf foaf Offerings were quite free on the ad vances, May more than lost it's advance with less than 100000 bushels traded in while offerings of July continued very free.
 Cudahy brokers bought September but the northwest was weak and sold ole July here At the close prices f1rmed uI on exports sales of II loads and Frisco report placing the California crop al about Is million bushels, or just enough for home wants.
 We look for nothing better than scalping market, and with any advance. appearing, we would favor meeting then with sales.
 Corn-The market was very weak early although offerings were not free anc while receipts are increasing with pros
 pect for larger movement, shorts GOV
 VT ctt oio ti3ctt HdS SOfne Idtner
 ential buying on frost talk, and a pros
 pect of navigation soon beeing resumed
 The better grades were steady, bu sample low grades were lower and 1t 1, possible that demand may keep price, steady. Locals inclined to bulIish. Oats-Oats displayed a better tone al though receipts are expected to increas, and the cash demand was slow. Stock, here are light.
 There was good buying of July ant September and we would not be surprises should this cereal display independen strength. Cash sales 25,OOo bushels Provisions were quite strong althouo, hogs were weak and lower with a nros
 pect of a liberal movement, the cas, trade being slow
 The Cuda hys were the best buyers q product and started shorts to covering but with present prices of hogs and nro duct there is profit for packers ana VI
 look for an accumulation of pork, lar, and ribs.