The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1904-08-05

account Of the small supplies and the
possible aetbacks which may be exper-
fenced BY the growing crop in the cur
rent month. In the net result new crops
lost four English points with similar
decline on spots sales of 5000 bales.
Trade in Manchester indicated the same
uncertain attitude.
Our market opened slightly under YES
terday's closing prices, and recorded ad-
ditional losses on a moderate amount of
fresh selling, inclination IN this direction
was checked by the late strength Of the
foreign market and a small recovery in
prices was observed. Crop reports show
no abatement in their excellence and the
scattered showers indicated by the gov
eminent weather chart throughout the
belt fulfill the opinion of ideal weather
Trade conditions generally indicate little
improvement and when textiles are es-
pecially considered, are at a very low
ebb Hence there is little motive for
spinners to provide additionally for their
future requirements. 1t Is not therefore
surprising that we should hear rumors
of the formation of a bull pool by specu-
1ative interests, who have probably com
mitted themselves on the long side OF the
market to the limit of their willingness,
and desire outside following as an alb
sobent While fluctuations of note may
be experienced earlier, the fears of the
rot unusual adverse climatic condiuons
of the current month, will be the re-
straining influence to the lower levels
which will most probably follow as soon
as cotton begins to move freely, hence
for the immediate futures, the weather
n ap remains the center of interest
Wheat.-There was a weak opening in
sympathy with declines abroad, improved
weather and belief amongst many opera
tors that crop damage reports on spring
wheat had been exaggerated. Long wheat
was thrown over with local bears selling
also selling of September by cash houses
as hedges but offerings spendidly taken
and with advances appearing they dried
up to an extent that frightened shorts and
compelled a lively covering movement
with prices hoisted to a new level based
altogether on reports of greater damage
to spring wheat than the trade thought
possible We look for foreign buying here
very soon with millers buying freely also
and would favor purchase of the future on
fair sized concessions.
Corn-Sample lots were half cent lower
early but hrmed up with futures and the
large cash business yesterday with indi-
cations of more freight room being taken
for shipment
Kansas advices were favorable but from
Iowa to the contrary selling was free ear
ly with sentiment bearish but strength
In wheat started shorts covering while q
good class of buying appeared with the
closing strong.
We favor purchases of December on
dips
Oats-Sample lots weak early but firm
ed with futures although large arrivals
with trade bearish and selling freely.
Rallies appeared with wheat and corn
although fought hard and we think a
short interest is being created that will
have to cover at higher prices.
Provisions.--Wo rked higher In sympathy
with hogs and grain and while there was
considerable changing from September to
October shippers bought,ribs with packers
and foreigners buying lard.
We are rather inclined to look for q
moderate advance on product.