The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1919-07-22

Liverpool is que tomorrow ~ polHts
decline on october.-w. e. Campbell 60
Co.
Over W. l. Pheits & Co.'s Wire
New Orleans, July 21.-Selling pressure
was severe against cotton during good
part of today's session and fairly wide
breaks resulted, although late in the
day the disposition was to recover
portion Of the losses. Bear pressure was
stronger than usual, apparently result
ing from the reasoning that a prolonged
reaction was due. For while there
was liquidation in a large way from
the long side and it looked very much
at one time as if stop loss orders were
being caught on long contracts.
Around the opening prices were II to
IS points up on the. wet weather map
but the hard spot brought in a world of
selling, under which the market slumped
IA to 80 points, finally landing 81 to so
points under the close of last week.
Sellers were encouraged by the early
weakness of sterling exchange, which
fell II points to ABB. Late in the day,
however, the market was better, good
demand being reported and a recovery
to 432. The marine strike and the Mexi-
can situation were both against values.
However, we think that the recovery
late in the day still indicates that latent
buying still exists.-Shepard & Gluck.
R D. Burgers Letter
New Orleans. July 2l.-General rains
in the interior over Sunday, excessive in
localities in Texas and eastern portion
of the belt, influenced values to new
high levels for new crop deliveries this
morning.
However, a pessimistic view of the for-
eign exchange situation and prospects
for clearing weather northern portion of
the western belt occasioned heavy realiz-
ing and a sharp decline in market there.
after.
Sterling was II points lower this morn
ing owing to a renewal of offerings of
bills, which purchasers were willing to
take only at concessions because Of the
acute weakness of the market.
AS yet the marine workers strike re-
mains unsettled, tending to restrict ex-
ports except in foreign vessels.
Cotton goods have advanced to level
higher than since the civil war, but il
quieter No indication of a decline,
however, because of hight stocks and an
ticipation continuance of a good demand.
as to progress of crop past month.
Bottom lands are. in bad shape owing
to rains, but. hill crops are said to be
more improved. Hill lands make about
70 per cent of the crop. Market is like
ly to be very cratic in advance of the
next government report on conditions of
cotton, due early in August-H. & B.
Beer.
Hubbard Bros. & Co.'S Letter
New York. July 21.-Cables were bet
ter than expected this morning due to
the unfavorable weather conditions in
$hn NJ ct fAu plx~ o. HI
to hold the improvement. as the foreign
exchange situation was again very un-
favorable, causing heavy liquidation by
those who bought last week anticipating
some governmental action to improve
the declining value of European curren.
cy. Many stop loss orders were uncov-
cred and southern spot houses were
again good sellers. In fact selling from
this quarter has increased materially
during the past few days. The general
situation is very complex. for the At
lantic states are having too much rain.
which helps the ravages of the boil
weevil. Crop conditions and the ex-
change situation are the two big con-
trolling factors Of the situation. our
market rejecting one or the other as
each become temporarily the most i'm
portant-Huhbard Bros. Co.
Dry Goods
New York. July H.-Cotton goods and
yarns we're quieter today than last week
with prices firm. Dress goods production
for spring was being allotted by seevra.
large mills. Raw silk was higher and
burlaps firm.
Naval Stores
D. Asseetatsa Prsss
Savannah. Ga, July 21.-Turpentine
firm; sales 400; receipts IS: shipments
II: stock 8.943.
Rosin firm; sales 1860; receipts e51;
shipments none; stock 55,195
Quote: B 1928; d 1915; e 1880; r
1850; G 1855; H 1890; I 1850; X 1888;
M 1895; N 1895; Wg 1910; WV z0.3S.
4 How They Closed
BY Aasssiatsd pvass
New York. July :1-Lberty