The Birmingham age-herald., 1917-12-01

southern spot offerings and pre-holiday realizing, but Liverpool showed decided strength over Thanksgiving today, and the highest prices of the season were touched by January and later months during today's trading. January sold at 29.S3c. compared with 25.2oc, the low level
 reached on the reaction of late last month. Increasing confidence in the
 smaller estimates of the crop, the con-
 tinued activity of domestic mills. and the
 continued steadiness of southern spot
 markets were the factors on the ad-
 vance.
 Houses with both Liverpool and do- mestic mill connections have been prom
 inent buyers, particularly on reactions
 The Liverpool buying has been attrib-
 uted to covering hedges $ cotton has arrived on the other side, while domes-
 tic mills are believed to be buying fu-
 lures as a hedge against raw material requirements.
 Manufacturers in this country are said
 to be able to sell goods for forward de- livery at prices showing attractive prof. it's over present raw cotton quotations, and the risk of underwriting mill re- quirements has served to check specula- tive selling for short account.
 Private crop estimates issued during the week have ranged from about 10,- 800 900 to Il, ,25S, 900 bales excluding linters. Estimates of southern cotton exchange members so far received have averaged in the neighborhood of 10,700,000 bales December did not fully follow today's advances on the later months and there was more talk of an easier spot basis than for sometime past, With claims made around the local ring that con- 1 siderable cotton would be shipped here for delivery if warehouse room was available. With prices now at the level which constituted the extreme bullSh view of a few weeks ago. talk of in- creased spot offerings have evidently made considerable impression on senti- ment and except for trade operations, business has been considered largely in
 the way of evening up for over the ap- proa ching government reports
 | Over s. K. Stewart & Co.'s Wire l New Orleans. Novemb CT 30.-Political news over the holiday was not of an l inspiring character. London says ne- gotiations between Russia and Ger many are in progress and that the Bolsheviki have large lead in the gen
 eral election. An increase in submarine losses for the week and overland traf- fc conditions are reflected in further advance in Liverpool where new con tracts are about 25 points higher, old contracts 42 points higher; spots un : changed sales, 4000.
 l Fall River says a strike next Monday ! of 35,000 operatives of the textile mills | is predicted by union leaders.
 1 Washington says the stringency of l the coal supply is such that priority ! of shipment of coal over all other mer- JchandiseAhas been determined on. Goods will be allowed to move to ports only l in proportion as tonnage is ready at l the ports-
 The pooling of all allied and Ameri- l can ships out of Atlantic and gulf ports
 is planned. Shipping board is working
 on plan to pool eastern roads to re- lieve the freight congestion at the ports. These traffic conditions have of course a diagonally opposite meaning I for the two markets. Detention of sup ply is weighing against the southern
 markets, while impediments to the
 movement. of supply is bullish for the northern markets.
 1 This contrast was dra stically re- i nected in the opening trading this morning with prices here points low CT to points higher, and a reaction ary tendency on unfavorable news, while New York opened 30 to 40 points up on indicated further difficulty in drawing cotton from the south, The diff ference with New York widened to 20 ! points. Straddle buying of course de- veloped at once and forced some ad- | vance here. Selling hedges are being shifted by spot interests to our market
 as an outcome of the situation
 I The spot market is reported quiet, bidding under quotations. but no pres-
 sure of offerings.-John F. Clark & Co. I Over w. E. Campbelrs Wire
 New Orleans November S0.A ready response to buying orders was given by cotton today, the market rising with the greatest ease to new high levels. Even
 at the highest prices. little of reaction
 ary tendency daily talked of for weeks
 made its appearance. There was liqui- dation in evidence on all rises. but Il
 was readily absorbed and at times it
 was apparent that the realizing opera
 tions on the long side were furnishing the ring with the bulk of it's offerings