The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1919-08-26
Over Private Wires
r. D. Burgers Letter

new orleans, August 2o.-AltnOugh the
weather and crop accounts remain gem
orally unfavorable, there is lack of
confidence in higher prices at the mo-
ment owing to the gloomy view taken
OF the foreign financial situation, espe-
cially as regards conditions in Germany
After ruling higher this morning the
market eased off because of prospects
for better weather in the western half
OF the belt, and foreign political develop
ment considered unfavorable as reflect
ed in a decline of III points in English
consols.
There were further general rains in
the cotton region over Sunday, heavy in
localities of the central and eastern por-
tons with prospects for more rain, par
ticularly east of the Mississippi river,
tending to confirm less favorable crop
accounts of late returns to the Mem
phis Commercial-Appeal, average the
condition of the crop at 81. 6 against So 9
one month ago, when the bureau was
NJ, pointing to a yield of II 10000 bales
exclusive of linters.
The governments monthly crop report
will be issued at 10 a. m. New York time
September 2 Returns will compare with
657 last year. CTS year before last, 6l.2
in 1916 and the 10-year average of about
gust the past 10 years was 7.6 points.
If equalled this year. the next bureau
report would be 59.5, which would be the
lowest September bureau on record with
the exception of last year, while insects
are more numerous and destructive than
ever before, and the crop the latest in
many years past II. & b. Beer.
Hubbard Bros. & Co.'S Letter
o~lyn ~,
Liverpool was higher this morning on
the strength of the report OF damage
from insects in Texas and more rains
in the Atlantic states. Our market met
the advance and after selling around 50
cents for December, declines on selling
by the local trade following the report
that the weather would be clearer over
the western belt. Trade interests were
fairly good buyers on the break. The
market then quieted and remained steady
until the late afternoon, when short COW
ering brought another advance to the
&c level. The tendency to even up com
mitments before the bureau report of the
condition on September is increasing,
and as there is considerable short in
terest in the market we anticipate
somewhat higher market in the next few
days-Hubbard Bros. & Co.
Over w. l. Phelts & Co.'S Wire
New Orleans. August 25.-The tendency
in the cotton market today was to adj
vance on the flood of crop complaints
from private sources in the belt. These
reports told of deterioration, of damage
by rains and injury by worms and weev
lis The opening was at the advance
and at the highest of the day the trad
ing months were 63 to 65 points above
the level Of last weeks close. The dis
pisition among longs was to take profits
and their realizing caused fairly wide
reactions, the market at its lowest stand
ing only to p points UP net
Two private crop condition reports were
received during the day, one of 63,1 per
cent and one of 62.6 Thus far the pri-
vate condition reports indicate that Just
about the average deterioration has oc-
Cured during the August period, which
ends today. The average loss during
the last 10 years has been about 7 points.
The weather map was extremely unfav-
orable because of the general rains in
the eastern belt. Only scattered show
ers were noted in the central and west
ern portions of the cotton region, but
the reports of damage in those sections.
resulting from recent rains, are nothing
short of sensational For the time being
it is a trading market with conditions
favorable to the buying side If any
choice is to be made.Shepard G. Chuck.
S. r. Stewart & Co.'s Letter
New Orleans. August 25.-The lateness
Of the cotton crop is generally confirmed
by arrivals of first bales. Texas new
bales are from three weeks to month
behind last year, and foreign spinners
must take this into consideration in fig
urinE on their supplies. Cloudy, rainy
weather prevailed largely in the belt
over Sunday Reports of serious ds..i
age by insects are general. A report
from Shreveport says that practical
farmers in seven or eight widely sepa-
rated sections of Texas say that the
public fails to realize the shortness of
the crop. There is a fine stalk, but
worms and caterpillars are working on
the fruit and the boil weevil damage is
considerable.
Liverpool was about IS points higher
than due. on account of unfavorable
crop reports. Our market opened 30 to
60 points higher on the strength of Liv-
erpool and bad weather reports. This
was followed by selling on general news
and reactions followed, and around 11.a0
a. m. the market was around the low
point of the day. December was also
at the low point. being 4s under the
high, but the bullish foundation in cot
ton demonstrated itself, the price ad-
yancing again to practically the high
point and closed steady at . net adj
vance of 50 points over Saturdays close.
Exports were Sc, 100 for the day. and for
the week so far, 5000, against 1000 last