The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1904-06-28

Cotton-The rather unexpected strength
of the Liverpool market with reports of
Manchester business more satisfactory
impaired to our market a much steadier
tone, and the demands of shorts, aug
mented by the fear that the Atlantic
states were not receiving sufficient rain
fall while in the western belt supera-
abundance was indicated, were met with
a paucity of offerings.
The spot demand shows some improve
ment and willingness is manifested to
accept grades formerly considered unde-
sirable, resulting In an excellent business
for the day
In view of the fact that all interests
for some time will be conferred on the
struggles of the crop as a pasfs ror opin-
Ions reports from the field should be
given the deepest consideration and care
fully weighed as to their final scope. The
trials Of former crops have taught us
that 1t Is unreasonable to assume that
the crop will, until its maturity, continue
ously be the recipient of such superb dis
tributions of sunshine. rain and tempera-
lures as have prevailed. hence we may
expect at any time complains from sec
lions which may be overlooked by the
elements. However, those reports would
have to become truly distressing and be
wide spread in their source to cause a
material advance In prices that would
have a sound foundation, although a GER
tain proportion ofsthe short interest would
probably be quickly driven to cover and
occasion temporary higher figures. on the
receipt of any Information. even ultimate
~ proving of insignificant effect
Wheat.--There was rather a firm start
on the continued rains in the southwest
although cables did not show the
strength expected al worlds shipments
were larger than counted on. There was
some selling of foreign account, both here
and at the seaboard, while the N. w. and
Cudhay brokers bought new July. The
crowd were bearsh, however. notwith-
standing the large decrease in the visible
while the southwest sold. but we consid-
cred the buying good, and in the event
OF further declines would favor purchases
of new September
Corn-There was free selling of July by
elevator people, but the buying was good
and with the large cash demand and that
developed think 1t will continue and would
favor purchases of September on soft
spots.
Oats. -Changes were but slight in the
futures and II looks Hike a scalping mar
ket In this cereal.
Provisions.-Hogs,, receipts were over
the estimate and weak, inducing selling
by local bears, With the English houses
selling lard while the Cudhay's bought
product. Considerable changing was going
on In addition to liquidation OF July stuff.
but with the prospect for a smaller hog
run the balance of the week, we would
favor purchases on further dips.
Stocksr-Isondon was steady and the
market started out strong, with advances
In the prices, Steel preferred Ontario,
Canadian Pacific and Southern. There
was selling In Metropolitan Traction
that partook of bear raid, and Brooklyn
Rapid Transit was also pounded down,
although 1t was conservatively estimated
that its gross earnings for June viii
show an increase of $4,000 over 1903
More or less selling appeared In the veg
tern rails on heavy rains endangering
the wheat harvest while the bears were
encouraged in putting out stocks due to
the suspension of a National bank In
Saratoga, New York. and run on another.
There was selling of steel on the report
that its mill capacity will be reduced
fifty percent during July and August,
but the market held up we'll, with re-
coveries appearing in A. c. p. Metropol-
ften. t M