The Birmingham age-herald., 1919-04-11
Over Private Wires
Over s. R. Stewart & Co.'S Wire

ONer S. h. SttNdIt N AO. . " llV
 New orleans, April 1o.-Night reports from the western states show disastrous rain and snow storm over the north western quarter of the belt The map this morning, however, showed fair weather in Texas and Oklahoma with only light precipitation in the eastern portion But general rains is shown over the central cotton belt, which is unfavorable. The cold weather did not get down as far as was feared. on the whole, weather conditions were bet ter than expected and the market, which opened about 20 points higher on bet ter Paris news, soon lost all the gain.
 The chances of a bearish comparison of weekly mill takings tomorrow. fear of unfavorable census consumption fig ures next Monday, and general contrac- tion over the Eastern holidays sus- taned the idea of possibly further re- actionary developments in the market However, there is no question of rad ical change in the feeling, and all trade industrial and financial, reports indi- cate a keen eagerness to get to work, do business, expand enterprise and, therefore. reactions in the market seem temporary and technical grounds can be regarded rather as opportunities to prepare for bullish future.
 New York market advices.~were that technical conditions are heavy and in favor of further reaction; spot inter- ests selling May, which is above pari- ty with southern spot markets.
 Government detailed records showing 8 heavy general rains in Louisiana and Mississippi from to inches, and the Washington forecast of frost for ] Ok laho oma Arkansas, north Louisiana Mississippi and Alabama, invited buy l ing on the break of 40 points from | opening figures and the market sold at 1 22.1Sc for October early in the second hour, but again met increased realizing | on the rally.
 l After steadying spell realizing sales ! checked further bullish efforts to ad- vance prices but at all times was there ! a stub born resistance to the decline and | fluctuations ranged within a limit Of 61 points on May, 52 points on July, As on October, and 43 on December, clos | ing steady at net decline of S3 points in May and 12 to IS points lower or the distant positions.
 Spots were unchanged; middling | 26.25c: sales $50 bales.
 Interior spot markets are 10 to g points lower with small business.
 Hubbard Bros. & Co.'S Letter l New York, April 10.-After a slight re
  and snow in the Pan Handle. our marke sold off to 24c for July under continued scattered liquidation.
 | On the close southern spot houses bought the near positions. The market is passing through stage of readjust ment which may carry prices somewha lower In fact, the recent advance has brought out enough spots in the souti to fill up the investment and trade de lmand Naturally, such condition al
 ways finds a certain amount of cottoI
 which was purchased at the highes prices, and which must be liquidated be fore another upward movement can take
 place we believe that the fundamenta icondtions which brought about the las ladvance, namely, stubborn holders in tho south, with the trade as whole willing tol buy on good reactions still exists anC after the cotton which is for sale, as g result of the recent improvement, is ab
 sorbed, that higher prices will prevail
 In this regard weather conditions vii
 not play an important part.-Hubbart Bros.
 Over w., I. Phelts & Co.'s Wire | New Orleans April 10.-A nervous ir
 regular and unsettled market prevailed in cotton Ooday with sentiment mor'
 bearish than in any previous session O
 the week. The unfavorable weather ove
 the belt gave the market steady uh
 dertone at times and power te react iron
 declines, but buying power was not a'
 well maintained as the pressure agains the market Political news was con sidered somewhat rsore Favorable, bu feeling was pessmistic rather than oth lerwise beneath the surface. Liverpoo lsent over some bullish private cable lgrams and they, together with the rair and cold on the map caused a highe
 opening. When the advance amounted Ito 2l to 2S points heavy offerings wer,
 met and there was a break which car tried the trading months to 25 points un
 der yesterdays close
 For a while selling was rather fre' on predictions of bearish weekend sta ttistics and of an unfavorable census bu lreau report next Monday on March con isumption in this country, but gradual, offerings were absorbed and in the earl.
 afternoon the market was again at
 net advance of about $1 a bale. Th'