The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1910-08-08
WILL Be WEATHER
MARKET This WEEK
Cotton Badly in Need of Show
ers in Texas
NEW COTTON MOVEMENT
In Texas Movement Inst Week Was
Larger Than Usunl With Indfca-
lions of Increase This Week.
Eyes on Liverpool

New Orleans, August Tt will be
2 weather market this week. Interest
In the new crop is fast eclpsing In
terest In the old, especially since the
bull clique is reported to be resting
on its oars. Although the weather
from now on until the end of the sea-
son in the eastern half of the belt
will be of great importance, Texas this
week will be in the center of the stage
because of the unsettled condition of
the weather over the state and the i'm
perative need for showers there.
Last week the bears, day after day,
predicted rain. Comparatively little
rain fell. The market closed with the
bears hoping for rain over Sunday.
The weather bureau did not encour-
age this hope TO any extent for Its
forecast of showers only in northwest
Texas was made plain. Should any
great amount of rain be reported over
Sunday when the market opens Mon
day the advantage will be all with
the short side. Should rains hold off
probably much the same kind of a
market as was seen last week Will
prevail inasmuch as fluctuations Will
be narrow and nervous. Traders In
the latter case will put In their tin,e
gathering information from different
localities in Texas and allow other fea-
lures to pass unnoticed.
This has been a season of either too
much rain or too little moisture and
should Texas get rain beyond what Is
necessary probably a great many COM
plants would arise as there Is already
much open cotton in the earlier sections
~ l., -A-A
cry day. Bulls claim that this Is pre-
mature opening, due to heat and drouth.
Whether this is generally so or not
prolonged rains would work moro or
less damage to opening cotton.
The movement of new cotton in
Texas UP to the end of last week was
larger than usual. Spot people col
lected information showing that this
week 1t would greatly increase. II this
lis correct the market may be alfoct-
ed bearishly by 1T. No matter what
the ultimate crop promise may be the
situation at present Is not such as
to stand large receipts from the fields.
Because of all this Texas will prob
ably dominate the immediate future OF
the cotton speculation.
Liverpool sent over some very bull
ish cablegrams concerning improve
ment in business in Manchester toward
the end of last week and moreover
refused to follow the decline on this
side of the water. This is important.
While Liverpool would not be strong
enough to counteract very bearish
news from Texas should such news
be received any further bullish news
from manufacturers in Manchester
would probably cause Liverpool to
make poor responses to declines in the
American markets.
This would widen PARTIES that for
many months have been so narrow as
to greatly hamper spot transactions.
A better parity would result In much
forward business and would allow Liv-
erpool to build its stock up to more
normal proportions.
1t would also prohibit the likelihood
of any more shipments of spots to this
side to be delivered on contract should
the bulls suddenly become aggressive
In the near months.
Much attention will also be paid to
Liverpool this week as that ma rlSet
may be the key to the situation after
Texas weather conditions cease to
attract SO much attention.