The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1910-05-16
NORMAL CONDITION
IN COTTON MARKET
Current Week Will Bring Sew
eral Holidays
WEATHER rs BIG FACTOR
statistics of Cotton Movement for Past
Week Disappointing Because of
Smaller Mill Takings Than
Were Expected

| New Orleans, May 15-Indications ar
| that the cotton market this week will
not be in normal state, owing to thu
many days of inactivity. Liverpool will
be open only two days, Wednesday ant
Thursday, and the American markets vii
be closed Friday and possibly Saturday
The holidays during the early part o
the week are due to Whitsuntide, Will,
the funeral of King Edward Friday will
| be responsible for the closing of the mar
| kets toward the week end. If there Ii
anything the speculative element does
not like, 1t is a week that is broken W
| a holiday week in earnest. 1t is not i'm
probable that operations in futures
will be curtailed to a considerable ex.
tent.
The weather will be the main factor
in the market unless the bull clique does
something unexpected, which is hardly
probable. for, with Liverpool closed most
OF the time, anything tending to put the
American markets up will only serve tc
force the English market more out of line
than ever, and the parity between the
English and American markets just now
is stock argument for the BEARS Scalp
ers at the end of last week were favor
ing the short rather than the long side
of the market They reasoned that the
weather was bound to favor the bear
side. The forecast was for rain for over
Sunday, which was favorable to the crop
and consequently to short interests and
,A1 No.
week could not possibly at this time of
the year run into the new week Warmer
weather this week would be the thing
most desired by the bears themselves,
especially if rains are reported to have
fallen over Sunday.
Texas and Georgia will be the sections
of the belt most eagerly watched. A
great part of the early cotton is raised
In these states and early cotton this wear
threatens to be small in yield. A large
long interest has been built up in Au-
gust on the belief that it is now irnpos-
sible to raise much cotton that might be
marketed before the end of August and
bears will seize upon any opportunity Of
fered to make it uncomfortable for this
interest and cause the liquidation of its
weaker part
All manner of weather data Is now be-
ing prepared, for the time of the first gov
eminent report on the condition of the
crop is fast approaching and probably the
first reports of Importance will come
out this week. Reports of this character
sometimes have an important effect on
prices.
Statistics OF. the movement last week
were disappointing. because of rather
smaller mill taSings than expected. Bears
claimed that the small takings were due
to more general curtailmen. OF output
among the mills and that this curtail-
| ment would soon become greater Tor
| this reason statistics will be of more thar
ordinary Importance. unless they are lost
| in the closing of the market toward the
| week end. Spectators who leave senti-
ment aside warned the bulls on the week
end that the outlook statistcally for the
coming week was against the long side
for the simple reason that business will
mostly be suspended among English mills
a. a result of holidays. Naturally, Holt
days among the mills will decrease their
ia kings.
Something new may come this week in
the governments investigation of the May
deal, but this as a market factor Is fast
losing weight.