The Birmingham age-herald., 1904-05-28
Naval Stores.


 665, spring lambs, s5. 50@7. 50.
 Naval Stores.
 Savannah, May 27.-Turpentine quiet, 5SA; sales, 264; receipts, 925; exports. 3sO. Resin firm, sales, 1641; receipts, 2199; ex- ports, PITS. Quote; A, B, c, D, $260; F, s2e e5; F. s27o; G, s2. .75; H, s2.s5; l. s3.0o; K, $S.25; M, s33o; N, $40; VIC, s3.e5; wv, $3.95.
 Charleston, May g.-Turpentine firm, 5Sh. Rosin firm. Quote: A, B.. c. D. $250; E, s255; F, s2eo; G, $2.e5; H. $275; I. s2.so; K, sS.1o; M s3.15; N $s.25; VIC. $s.55; wv, s3sO.
 Wilmington. May 27-Sprits turpentine firm, nothing doing; receipts. 67 casks. Resin nothing doing; receipts, 209. Tar firm. $1.90; receipts, 99. Crude turpentine firm, s225, $400 and s425; receipts, S1. .4S. Cotton Seed OH.
 Memphis, May 2.-Cottonseed oil car load lots, per gallon: Prime crude, 216 21h; off crude, nominal prime summer yellow, 24d241a; off summer yellow nom inal; choice cooking summer yellow, less than carload lots S6 Meal, prime, $20G 2o.5o; cake, $2O@2o25.
 New Orleans, May 27.--Cottonseed oils: Prime refined in barrels, 27; off refined in
 
 New York. May i27-Cottonseed oil steady; prime yellow, 2sh. Petroleum steady Resin quiet. Turpentine quiet, 57d571k.
 Cothran & Co.'s Market Letter. Birmingham. May 27.-Cotton.-With l the approach of decoration holidays in America and the ending of whitsuntide celebrations in Great Britain and Europe cotton had little if any incentive for activity today though prices held fair | ly steady and trading consisted chiefly oi shorts covering Attention was centered | principally on weather conditions in the eastern belt which furnished no positive | basis for action either way. there be l ing numerous predictions of rain againss | no actual preoipitations where mostl,
 needed. Thus the new crop months were | steadier than would ordinarily have beer | the case and summer deliveries were
 swayed by guesses as to what the ma.
 nipulators might do but in reality the l disposition to let summer months alone is | growing more conspicuous daily and il l should be SO. as the general situa tior | it looks as if short crop has encounter. | ed period of bad trade and difficulty is consequently experienced in sustainina 1 high prices. The weekly statistics show a further material reduction in the spin | ners takings of American cotton, thu. making 1t appear as if sufficient cottor would be available to supply the require | ments of the season. The new crops will continue to be guided by weather changes but in the absence of a serious mishap | 1t would seem to be best policy to sel winter months on any strong periods. | Wheat-Although Liverpool was f1rmer there was an easy orenlng, although trade | was light, and of holiday character. In. | creased receipts in Kansas City and Min. l neapolis with mills closing down wal | tearish features, while the cash markets | were heavy all around with nothing doine here. St. Louis was rather strong, and | there was some buying from that quarter with local professionals bidding price, up on Broomhell's Hungarian report May was bid up to 9s1e but June sold down to S3. Towards the close the markei turned quite strong, with influential buy, | ing In old September that was bid UT l sharply Local sentiment inclined to bs I bullish, but we do not think advances car be sustained. and there will hardly be more than a scalping market tomorrow. | Corn-Trade was rather light early, but with sentiment bearish while there wa. considerable selling later on the large es | innate for tomorrow, and the weak casf l markets, shorts covered rather freely or l the declines with slight rallies at thu 1 close in sympathy with wheat. Oats-Were not as active as yesterday although May was bid up to 42 cents, re | oeipts being smaller than expected, bu | with liberal estimates for tomorrow, sam pie lots were steady, and the better grades | firmly held. There was more or less real | izing, but offerings were well taken, thu | close being a firm one.
 1 Provisions-StArted higher in sympath, | with advances in hogs and shipments O. | product in excess of last year. Armour was liberal sellers. while the Cudahy. bought July lard. Operations were large | ly local, but there is a feeling that prices may be worked higher temporarily. Stocks. .--The business on the exchang' was only nominal. Prices yielded littl' | in the 'evening up" process and the gen eral market was without feature. The weakness in Detroit Southern stocks
 was due to the notice sent to the bond
 holders of the company that 1t coult not meets it's June 1st coupons. The com pany proposes to fund these coupons intt per cent. bond and thus avoid receivership.
 l We are told that the holders of nor, | than a majority of the bonds have al ready agreed to this plan.
 | Shelters continued strong and acts al | if it would be put higher Copper ant | Brooklyn Rapid Transit sold off little | but were we'll bought on the decline w, are told that more gold Is to be shipped next week. If this proves true we ma, | <<~