The Birmingham age-herald., 1904-06-15

ket has grown too narrow to allow such short selling as has been going on for several days When 0 few tried to cover there was no cotton. The simple fact Of the matter is this: Europe Is taking cot ton as fast as speculators and factors sell It at 10e and under. Now as long as everything is all right the goose hangs nigh. But let the least unfavorable thing happen to the crop and you have buy Ing power that Is like nothing we have seen in years. Europe wont sell. It makes no difference whether prices go up or down. They want the cotton in the fall As long as the crop news is good we will have an up and down market perfectly safe to buy on breaks. When October sells 91s cents this means 3 cents and sA cents for spots in the south. A pretty low figure with the crop just starting. But should any bad weather come there will he fire works The senti- ment Is all bearish and the markets get sold to a standstill. On a bulge tomor- row take profits and buy lower.
 Wheat-The United Kingdom were sell ers Tn Duluth of wheat bought ninety days ago. and have lost confidence in new futures. There was a bad break in rye, wheat samples were fiat. nobody seems to want it, and all waiting There was a weak opening due to declines abroad that were unexpected, and an ideal weather map. while the arrival of new wheat m St. Louis is a circumstance that brought dismay to holders and started liquidation. Outside buying orders were absent
 Surfing wheat reports were of the most glowing description. while the situation abroad continues as pessimistic as ever. There was a little covering toward the close but the market closed heavy, and # will require extraordinary bullish news and determined buying to prevent bad slump in prices. especially July
 Corn Liverpool i4 higher on good spec ulative buying, but the market uld ool respond to it, although with only 265 cars estimated for tomorrow. It is evident that the movement Is decreasing, especially from Illinois The weather was against rrices Cudahy trokers selling July, while the bureau report was favorable. There was selling by provision operators, the cash demand was slow, but with further declines appearing we would favor pur- chases.
 oats-oats worked off slightly with de- clines in wheat and corn. There was fairly good buying while theie were re- ports from Illinois of an unsatisfactory character \ large local line was thrown over but we look for a good class or tuNing to appear on weak spots.
 Provisions-Opened strong in sympathy with hogs which were in light supply, the buyinC being scattered, uoWtNtit anu Aaie by liberal sellipg through brokers and commission hot ses that was thought to be Cudahys.
 There was a good recovery In pork but it looks as If prices would work lower De- fore purchas as are warranted.
 l Stocks-The stock market was dull and featurless today with the exception per- haps of the advance in Manhattan. rms was all due to investment buying and we are inclined to think that the state ment Is correct. The other traction stocks advanced in sympathy with the strength in Manhattan. A very | strong undertone was in evidence throughout the list and the impression is gaining ground that the market will be improved and that stocks can be safe l ly bought for several points rise. l Commission house business Is practi- | cally at a standstill, but it Is good opin-
 ion that if an upward movement is start ed it would be readily participated In.
 Some selling of Manhattan by George | P. Butler x Bro. looks as If 1t might be l for the Gould interests.
 1 London houses sold a few stocks or
 balance today. but on the whole foreign
 transactions were insigni6cant We look 1 for an improvement in prices tomorrow.