The Birmingham age-herald., 1919-02-05
Over Stewards Wire

New Orleans, February 4-Liverpool shows a stronger tone and tendency, particularly in spots. which were quoted 50 English points higher, with larger sales Manchester cabled: "The Manches- fer cotton control board decided today to remove, beginning today, all restric- tione on cotton, and to permit owners to run their machinery as they wish"
 A letter from a Liverpool spot house says "The unsettled state of the mar ket and the discounts on futures pre- vents business. There would be good business put through if the cotton mar kets remained steady for a week."
 Liverpool made a plus correction in stock of American of 2,5oO bales.
 It was the discount situation that hin- dered business owing to the excessively past gave bears the advantage, are now disappearing. With restrictions removed and freghts down nearer to normal for ward business can develop and lift the value of distant positions.
 Our market opened to 15 points high CT on the better Liverpool and bad weather, and advanced about 20 points further before reaction selling developed sufficiently to control the market After tural. The time is hardly ripe for a straightaway course, but there is no mis- taking the change in disposition and ten- dency which stamp reactions as buying opportunities.
 Spots here are firm. There is a much better feeling and more inquiry, and it now seems that al lthat is needed to de- velop larger business in spots is fur ther reduction in the discount on futures to cheapen the basis.
 Weather conditions remain unsettled and the indications are for cloudy to fair and cold in the northwestern quar- ter; cloudy with more rain rest of the belt The cold wave played out but an- other is coming over the northwest which promises a severe cold wave around the 10th.
 During the last hour of the market longs started to realize, and the bears helped a decline which this trading started, raiding the market swinging it to the low point of the day, no points down, buH with substantial advances from the low the market closed 50 to 55 points under the previous close. New Or leans middling 25 points up at 27.75c. h. terior markets are held firm at un- changed prices.
 The future corn market has taken it's color from the cash market. The edge is oft the cash demand notably in the southwest, current receipts in St. Louis, Kansas City and Omaha being slow sale at anywhere ITOHl l to cents lower. Added to this condition was an Associa- ted Press cable denying any fixation of minimum prices in Argentina Offerings from northern Illinois points were slight ly larger. Eastern demand is distinctly slow. Slightly larger receipts are ex- pected as the far southwestern markets are now lower than Chicago, which fact will probably trun the movement to that market. We are unable to discover that the movement promises sufficiently large enough to more than temporarily effective in bringing about lower prices. There was fair show of strength in the oats market early but pressure ap- peared later in sympathy with corn. It is claimed that export inquiry has re- entered this market, one lot having been dlers have been buyers of February. No increase reported in country movement
 Naval Stores.
 Savannah, February 4.-Turpentine, firm, 661ac; sales, "A; receipts, l6S ship ments, 10; stock, 30666.
 Resin, inactive, sales, none; receipts, 443? shipments, none; stock. 7S.415.
 Quote: B, $l310; D and E, s1215; F. s1s20; G, S1325; H, 13.30: l, s1S.65; K, sls.75; M, sl625; N and VIC, $16.so; wv. $16b.
 Dry Goods
 New York, February 4.-Cotton goods today were generally quiet Yarns were inactive and weak and knit goods quiet. Dress goods demand was light. New prices were named on denims on a basis Of '30c a yard for southern indigo 20 goods, the previous open price having been 35c.