The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1919-12-04
Over Private Wires
Shannon & Co.'S Letter

New York, December 3--The session
has been marked by liquidation through
out and prices have reflected that, as
offerings exceeded the combined buying
power of Liverpool and the trade. though
that absorbed a large number Of con-
tracts during the early trading. In the
later decline quite number of stop or
ders were uncovered which added to the
weakness, though part of the loss was
recovered on local short covering toward
the close
The government estimate of the crop is
due on December II, and no one can
tell what the figures arc likely to be,
though it is generally thought they win
show around 10,50o,000. All this, howe
ever, tends to promote caution at this
level, especially as the south Is likeiy
to sell more freely on a scale-up for a
time.
Exports today were 1900 bales Fur
Their reactions are not at all improbable.
though we feel that spring and summer
months should be bought IL such oppor-
tunities present themsclves.-Post &
Flagg.
Tompson, Parker & Co.'s Private Wire
New Orleans. December s-While there
was display of bullish sentiment on the
opening of the cotton market today, and
chiefly on the strength of Liverpool,
opening prices were higher, the market
gradually became unsettled, and after
the middle of the day marked weakness
developed so that from net advances OF
30 to 50 points the market fell to net de-
clines OF 4S to 20 points. Liverpool and
New York both advanced during the
morning on the fear that the coal short
ago would shut off shipments Of cotton
In their direction, and the local market
advanced in sympathy. but gradually the
depressing effect Of the coal strike A.
serted itself, and there was much SELL
ing on the fear that the coal famine
meant smaller exports and consumption
of cotton
Lowest levels were reached toward the
end of the session, when the trading
months, aside from December, were IS
to 81 points under the close of yesterday.
Last prices were q to S. points lower
Shepard & Gluck-
S. R. Stewart & Co.'S 7 etter
The continued demand for spot cotton
in Liverpool at an advance Of IA Amer
lean points is construed as indicating a
determination of Manchester and the
Lancashire district to secure cotton while
1t is in sight, anticipating disturbance
to importation of cotton into that country
on account of the coal situation. The
high price, equalling 81 cents, American
value, seems staggering. whom sterling
Normal price is about HS6 Futures
there closed Irregular. losing some Of
it's early advance.
The coming census report, by COM
parison with previous estimates, Is ex-
pected to be bearish, but as this report
is week away there Is sufficient time
to get profits from purchases.
Interior spot markets are steady at
practically unchanged prices, and a fair
business done-S. r. Stewart 4 Co.
Clark & Co.'s Letter
New York, December 3.-For the frst
time in the history Of cotton the south's
God-given monopoly went to 40c in New
York today. Traders thought this price
good time to begin unloading, and be-
for the fireworks could be checked. the
market broke fun cent. Planters are
serving notice on spinners that nobody
need expect any cheap cotton next year.
There Will be no labor for the cotton
fields as long asa job romans in town.
At a sawmill or a tie camp the pay
is better and no weather risks to rum
Clark & Co.
Duggan and Bouden Letter
New Orleans, December s.-(Special,)
Early advances in the cotton market
today were lost In the later trading un-
der the depressing effect Of increasing
strctness of fuel regulations. the weak
ness Of foreign exchange and unfavorable
turns in international politics. Heav-
lest selling followed the news that Ger
many had refused to sign the protocol
Offered by the allies preparatory to put
ting the peace treaty into effect The
early gains were mainly caused by the
very good cables, but when it was seen
that both Liverpool and New York were
rising on the fear that the coal short