The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1910-07-11
MORE INTEREST IN
NEW CROP SITUATION
Weather of Next Fortnight Is
Important Factor
BUYING WILL BE STRONG
Market Is Eager to Get Mt the Truth
of Mill Observation-Disclosures Spot
Market VIII Have Promi-
hence This Week

New Orleans, July 10.-Indications are
that the cotton trade this week will be
more interested in the new crop situation
in Arkansas, Alabama and Mississippi
than In any other feature of the market.
Reports from those three states will have
much to do with the course of prices un-
less something very strong develops In
The old crop positions.
Last week closed with Il good portion of
the trade convinced that the cotton crop
was about to pass through a most crit
ical period and the majority were willing
to admit that the weather of the next
fortnight would have much to do with
the size of the total yield this season.
Next to the states mentioned Texas will
be watched for there Is still hope of a
moderately large crop II Texas has a
good yield.
Official advices from the state of Texas
during the week just ended caused some
people to believe that conditions in that
state were not quite so bad as the bulls
have been painting them.
II this week sees further crop deteri-
grafton investment buying on an increased
scale may be expected, even though the
leading professional interests do not take
any decisive stand on the new crop. 1t
has come to be the contention among a
certain class of traders that 10 cents for
October is a more legitimate price than 15
cents is for July.
The buying will be of q very strong
character just as 1t was year ago ex-
actly at this time. when outside investors
entered the market and bought cotton
that they held for rise of nearly 4 cents
a pound.
In connection with the old crop the mar
ket will be eager to get at the truth of the
mill situation. Last week the market was
flooded early and late with reports OF
mills closing down, and these reports had
bearish effect on prices.
When the weekly statistics were pub
lished. however. 1t was found that mills
had taken as much cotton as they took
two years ago the same week and within
10000 bales as much as they took the
same week last year.
The showing that mill takings made in
the face of all the curtailment talk that
week to look askance at further claims
OF curtailment this week.
PoNtive proof of the curtailment as
shown In mill takings will have to be
exhibited before this sort of talk will
affect prices again to any decided extent
This has undoubtedly provided the bears
with valuable weapon.
The Liverpool spot market, the rela-
TONS OK the Manchester cloth and yarn
markets and last but not least the daily
quotations on silver In London In con
| Junction with cotton. will have more thar
| usual prominence this week This is due
to the strong showing made Saturday by
spots In Liverpool and silver in Lon.
oon Following week of unusual activity
In the first and more strength than has
been shown in two years by the latter
higher prices for silver should cause the
lar east to buy more cotton goods from
Manchester and better demand for cot
,on goods VIII stimulate an already strong
demand In Liverpool for spots from Man
chester.