The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1910-08-15
WEATHER CONTROLS
COTTON SITUATION
Lack of Rain in Texas Is Still
Big Factor
NEW CROP rs COMING IN
Deliveries VIII BE Made During the
Coming Week on August Contracts
and New Cotton From Texas
Cuts a Figure

New Orleans, August 14.-The week to
come In the cotton market will, it is ex-
pected. see somthing of revival of
operations in the old crop. 1t Is gener-
ally understood by the trade that Au-
gust notices on rather a large scale will
be issued in the New York market Mon
day morning. Bears expect considerable
effect from these, especially If they are
followed by threats of large deliveries of
new crop cotton later in the month. 1t
Is the opinion of quite large element
in the market that the very heavy pur-
chases of new crop cotton In Texas since
new cotton commenced to move have
been chiefly for the account of shorts In
August and that all this new crop cotton
will be added to the load of actual cot
ton that the bulls are already carrying.
Outside of this, the weather In Texas
will continue to be the main feature OF
interest in the market. This question is
getting to be very complex and 1t Is
growing difficult to say what effect any
sort of weather in Texas will have on the
market Up to today 1t has been the
unanimous opinion that nothing but rains
will save large part of the crop in that
state If rains had put in their appear
ance last week prices would have de-
clined Immediately. Rain is still needed,
according to the opinion of many, and IT
is probable that II the rains predicted for
over Sunday materialize, the market will
work lower Bulls contend that it is diff
the market go
down as a result of rairs, especially If
they continue for several days, as there
are thousands of acres of open cotton
in Texas ready for picking and rains
will not only injure the grade of this
staple but also delay picking as we'll as
marketing and moving of the cotton.
Bulls claim that rains cannot fall
in Texas very long without an upward
movement in prices. Should the drouth
In Texas continue picking will be
rushed and In all probability cotton
will be sold as fast as it is picked In
sympathy with any decline that may
be seen in the prices buyers are willing
to pay. A short time ago large plant
ers were willing to sell futures around
Is cents against their crop expecta-
lions and therefore 1t is reasonable to
suppose that the marketing or the new
crop will proceed until that level Is
rea ched. The future market will be
influenced to no small extent by the
Texas spot situation and the large
traders will keep In close touch with
the mark citing points of that state.
The time Is fast approaching when
the mills win begin to show their
attitude toward the new crop and this
will be anxiously watched for this week
as much depends upon it, Should 1t
develop that much of the recent buying
of spots In Texas has been for the
account of mills. instead of August
shorts in the future mark ct, 1t is like
ly that foreign mills will enter the
market. Another feature of the stu
alton that will be closely watched is
the parity between the New Orleans
and Liverpool markets.. This Is get
ting to be wide enough to allow a
large business for foreign account 1t
must be remembered that Liverpool S
stock Is very low, only 100000 bales
on Friday and that this means that
Liverpool cotton merchants must buy
over 100000 bales to replenish 1T, to
say nothing about what they must pur-
chase to meet the current requirements
of the customers.
Sooner or later a large demand for
spots will develop among buyers for
the English and continental trade and
when this begins 1t will be the dominat-
ing influence In the market