The Birmingham age-herald., 1917-11-15
Over ". E. CampbeIl,s Wire

New Orleans, November l4--A material
 y higher market resulted in cotton to-
 day from the extremely bullish showing
 made by the census bureau report on American mills consumption for October.
 Also there was much undoing of straddles
 between months which narrowed differ
 ences to decided extent between the
 near and distant positions. The census
 figures indicated that consumption of cot
 ton In this country was the greatest on record for October and within a couple
 of thousand bales or record foN any
 month. At first the market acted heavy
 and did not respond to the statistics,
 but it gradually strengthened, becoming firm and active Tn the afternoon. Around
 opening the strongest months were to 7 points up. from which there was a fall
 under realizing by longs to a net de-
 cline of to 14 points.
 The upward movement carried the near months in the early afternoon to a level
 22 to 2S points over yesterdays close
 and the distant months 60 to S4 points
 over. The census figures put consumption
 of cotton and linters during October 695,-
 46S bales, against 611,S23 in September,
 and 6l7,SS3 in October last year. Total
 consumption thus far this season is l,-
 955,611 bales versus 1,s38,01S during same
 perio-' last year. The main features of
 situation remain buIlish, but the advance
 has been rapid and large long interest
 has piled up. We do not think our friends on the long side of market would do an unwise thing in taking profits on further advances.
 At the best the near months were 9 to 8 points up while the distant months were 69 to S4 points up.
 The close showed. net advances of II to S3 points.-Shepard & Gluck.
 New York ly-GfnoLc dr0a ct, oy-f,lxv liberty bonds also declining sharply un- der selling which was more or less mys- terious. To say the fall of A point was entirely to desire to avoid tomorrow S second installment seems inadequate. The abrupt offering down of both old and new bonds seemed to indicate desire diff ferent from that which the ordinary in-
 -estor has when he sells. At midday we 1 had dispatch saying fighting was ac- tive on the Italian front and two more towns have been taken. This, with the tense labor situation at home, along with the effect of Premier Lloyd George's s speech about the lack of coordination
 among the allies, has generated no little pessimism in Wall street. Considering the ease with which arices slipped we think it well again to use firm spots tc take profits and not buy until conditions are more settled. The Russian news was mostly conrradictory.-Hud
 l Chicago.-The grain markets have been shaken up by the warning against over trading which is apparently directed against several locals who were active ] on the bull side of corn. These interests have apparently sold out and the situa- | tion suggests May corn and oats will meet sales near IT and 165. Rail news | indicate the corn belt will receive a bis reinforcement of cars to move the corn l The big delay in corn curing drove thu i foreign winter feed demand into oats About anotaer 100000 bushel of oat. worked today. Overnight low point il
 corn and oats are due on Thursday. New cash corn so far shows little change 1 Sample grades are selling at sf 1OeJ1. % l but old is scarce and firm with No. vel. | low around $2.25.-Wagner.