The Birmingham age-herald., 1918-12-13


 supply smaller than the peace needs of the world, and partly because of dis tinct improvement in the spot depart ment The opening was higher and the improvement gradually widened, on a quiet but steady market. until the early afternoon saw net rise Of o6 to bS points.
 Yesterdays estimate points to com mercal crop this season not in excess of 12,5oo,o0o bales. that is, including lint CTS and reducing bales to commercial weights.s Such crop is no foundation for bearish operations with the needs or 1919 an unknown quantity, but surely larger than those of the last year. Yes terdays figures cannot be used as a permanent bear argument.
 Texas wires that hedge lots of cotton are about cleaned up and that stocks accumulated against business already done are rapidly being moved out. Freight room offerings for January are larger and exports continue on comparatively large scale, the movement thus far this week amounting to 90,0S bales against only 73.625 during the same period last year The owners of spots in the coun- try still hold tight. and 1t looks very much as if the market will have to move up to higher levels to dislodge this. The close was net gain of 2S to 35 points. Shepard & Chuck.
 Naval Stores
 Savannah, December 12.-Turpentine | firm 64c; sales 30; receipts, 56; ship ments, ST. stock, 3O,212.
 Rosin firm; sales, 72o; receipts. 4S; shipments, 3S0; stock. 7i, ,269.
 Quote: B, D, F and F. $13.55@13. .6711; ! G, 13.571hd13671h; H, $i3.6oafS75; I, s13.S2h i I14.oO; K, s15.60; M, s1610@16.15; N, $16.35@ 1G 40. WIG s1e 5O.A VwxV S16 TX
 Coffee Market
 New York, December 12.-Local coffee brokers appear to be looking forward to an active business when the market for coffee futures reopens on December 26. as announced by the board of managers yesterday. The rule restricting fluctua- tions to 150 for 12 one day did not seem to be regarded as likely to interfere with business and it was said that the re-establishment of hedging market would probably lead to increased activ- ity in the cost and freight market to re- plenish the much reduced available sup ply. Otherwise no fresh feature was re- ported in the situation. Brazilian showed continued firmness. The early cable re- ported decline of 25 reis at Rio, but Santos was 100 reis higher on spots and 175 to 225 refs higher on futures with later cables reporting a further advance 1 of 100 to 15O reis in the latter market The local spot market was nominally unchanged. Sales of Santos 3s and 4s were reported in the cost and freight market at 21. .25c, London credits Receipts at the two Brazilian ports. 35.OO0 Jun diahy receipts, 22,0Oo.
 Hubbard Bros. & Co.'s Letter --(SnaniaI ! Today's market was quiet but steady, at an advance of some 40 points from last night. Local sentiment IS rather bullish on the idea that better de- mand may be expected from the do- mestic trade and in expectation of larger exports. The exports so far this year are a distinct disappoint- ment, but it Is to be- expected that there will be an improvement in this respect There Is better demand from domestic mills in the nearby de- | liyerIes, which buying represents the fixing of price on call cotton pur- chased sometime ago against govern ment orders We do not yet see any particular interest in the more dis tant deliveries. nThe south was mod crate seller ofehedges again on tho advance and this selling brought about Ia decline from the highest prices of the day Sentiment tonight Is rather bullish. however. and the local traders are inclined to expect a further recov- cry omorrow.-Hubbard Bros. & Co.,,