The Birmingham age-herald., 1904-09-01
Lovsmsn 6 Co.'S Market Letter.

By H. & B. Beer
 Birmingham, Ala August 31.
 Shorts recovered ground today, Decem- Der selling as low as 10.6D' compared with He last evening. Liverpool shorts ten- dered 10000 bales, and a few September notices were put in circulation In the local market. which caused some unvol- untary liquidation of the month proximo, causing September to become weaker than other months on the list. at one time sowing a loss of A points. when compared with the closing of last night. and selling on a level with December. whereas It was but a couple of days ago when September was commanding a premium of about 25 points on December. Weather conditions are favorable, and the movement of cotton to market was heavy, Ther was little or no rain in the belt and the temperature In most sec tions of the belt was about normal. Re- ceipts at all ports for the day were placed at 17000 bales, against o1b last year; since Friday at about S552 bales. compared with 224O bales, and estimates tomorrowfs receipts at Galveston were estimated at 5000 to 1000, against lST one year ago; for HoustCA, 620O ito 570O bales. against 351 The general topic of con- versation on the wires and on the floor was confined to what the government bureau would average the condition of the crop next Friday, the general im- pression being that 1t will be in the neighborhood of 80 per cent, with great many of the long side hoping for 79 per cent or lower The mraket has about discounted a condition of about 80 per cent, making 1t possible for an upturn to take place in event of the average figuring less or for the market to take downward course if the condition of the | plant is placed at S1 per cent or better | .f.1. Ia ht1f nT0hAhiR. Heavy shipments via the coast are find ing their way to New York, Gross ar | rivals there today were about 7S0O, and l Savannah made another shipment in the l same direction today of about 6200 bales. Houston was reduced 1sc on spots today and the local market was quoted easy at decline of 3-16, 1t being 1sc lower to sell than at this concession. Sales, 75O bales to arrive. 50 bales; middling, l Il 3-16c.
 Lelshman 6 Co.'s Cotton Letter.
 New York August a.-The cotton mar ket opened easier this morning, respond ing to the easier tone of the foreign mar ket and selling by longs, who desired to secure profits on yesterdays bulge Alter the call prices advanced again on cover ing by belated shorts, but on the rise renewed selling for profits, coupled with some selling for the short account, car  ried prices pack to below the opening figures Shorts appeared timid about ex- tending their short lines too freely be- ing afraid of the government monthly re port Friday, which is generally expected to make an unfavorable showing. A eondi- ton under 80 Is what is looked for. The weekly report yesterday confirms the re- port that cotton has deteriorated badly during the past few weeks, and unless the weather remains favorable, will result in a great reduction in the size of the new crop.
 The Norden estimate of the condition of cottton 75.72, against their figures Of S4 oi last month and 74.79 last year, and their estimate of a crop yield of 11,5OO'OO bales, with average conditions from now on, and an average frost condition coupled with the estimate of Miss Giles of condition of 70 per cent, a decline of Il per cent for the month, prevented any aggressive short selling