The Birmingham age-herald., 1918-10-17
Over Stewards Wire


 New orleans. october 16.-Liverpooi still acts as a war basis, inasmuch as that market maintained most of yester- days large advance, despite the decline on our side. There was nothing speciai in the press this morning on the dlpio- matic situation. War news continues very good. It looks as if the world is waiting for the Wilson note to do us work, and that reasonable delay m re- ply is conceded owing to the momentous importance of the decisions now pend ing. Definite results may not appear TOT several days. Meanwhile, the suspense is, as always, in favor of the pear sine of the market, as support IS Watins for a clearing atmosphere, and firsl traders here were at oechne ol to 20 points, soon followed by further easfhess. Selling is mostly of scalp ing character, as bears seem to realize the bullish state of technical conditions and the probability that any Of IaVor- able political news could cause sharp upturns on covering and new buying.
 The principal bear argument at present is temporary curtailment i'll business on account of the epidemic of influenza, ana inc possibility of spot weariness, which. however, is not apparent in our spoe market. Factors say cotton is well heio.
 The weather map shows cloudy TOT tio belt. general rains in coast dislric'e. Indications are for unsettieo, ranS weather in the belt. The ralnstorm Tor nation is moving on to the Texas coas.' and Washington predicts gales ana nlsh tides there. Very pronounced changes in the weather are indicated for the mar future. Either the disturbance VIII mass inland or a strong cold wave VIII develop promptly as counter-disturo- ance. a. picking and ginning made satisfactory nrorress except in portions of Texas ana inc lower Mississippi valley, where all harvesting operations were delayed by rains,-John A. Clark & Co.
 Over Campbell & Co.'s Wire
 New Orleans, October 16.-The trend Of cotton was lower today until in the afternoon realizing by recent sellers caused a recovery. There is no quee- tion that the epidemic of influenza is having a depressing effect on vaiues' partly because it is reducing consumption of cotton in this country because miiis are not able to run their machinery fuii time In some sections, 1t is said, mills are running only 75 per cent or capacity'
 In addition to the effect of influenza there is persistent reports that cotton goods are easier and likely to be markeo down. While the margin between tne 
 there is no telling what a reduction III dry goods prices would do to the price or cotton. In some quarters the threat or a new submarine offensive by Germany on greater scale than ever is looked mon as a bearish feature Of possipih- ties. Under these influences the market opened at the decline today and sank a to il points under yesterdays closing level. In the afternoon, however, tneIe was a strong recovery to within reW points of yesterdays final.
 Whatever new buying came in was tns result of fresh reports and rumors or se- rious internal troubles, not only Tn AUS tria- Hungary, but also in Germany. im- portant and favorable political new would probably cause rlse, pa. market feels strong bearish sentiment. which is likely to have it's effect Tor l the time being.
 The close was steady at net decline of 2s to s points.-shepard CHUCK.