The Birmingham age-herald., 1919-02-25
Over Private Wires
Over S. R. Stewart & Co.'S Wire

New Orleansl February 24.-This is the first notice day rsre for March tender There were no notices; proper grade allowance and the discount or futures under spot prices are against rendering of cotton. Tomorrow will be the first notice day in New York Liverpool is steady. General reviews are of a distinctly optimistic nature. The stock market review says activity in industrial stocks overshadows all else Conditions of adjustment now prevail in fields of industry. Other professional interests appeared to be- lieve the future held much promise in industrial enterprise. The remarkable foreign exports for January is surpass- ing all records of the war period and authoritative views of the domestic business situation are most encouraS- ing and tenor accounts for huge bank clearances and firmer money, The weather map again shows quick change, indicating large disturbances on the belt today, promising unsettled, rainy weather for the next few days, possibly snow in the northern part, as a strong cold wave is indicated to fol- low.
 Washington issued a flood warning for Cape Fear. Coosa, Black rivers and for the rivers of South Carolina.
 Washington advises further ex- tension of trading area
 The market opened about unchanged and held steady the first half hour but was unusually quiet, probably the after effect of the holiday.
 Feeling here was bullish on the en- couraging tenor of general reviews, better spot news, it being reported that good business was done over the holidays, and bullish weather condi- tions, but New York acted disappoint- ing and this led to selling, which caus- ed about 50 points reaction in the second hour.
 New York has the following to say of that market:
 Liquidation by Wall Street was the feature during the morning. The sell ing appeared to come from the same source as the buying that forced prices
 up cent on the 18th. Liverpool sent over buying order around 20.75c for July and brought about moderate re- action. Advices from Augusta, Ga, that mills were still going on short time for lack of buying business and a statement by Lloyd George that Eng land was in for 8 period of strife. con- tributing to the easier tone. Exports were the largest for two or three weeks-4S. 900. There is no change in the general situation. which at the moment is apparently not attractive to buyers, but futures on basis ap- preaching 20 cents for May should be a safe purchase.
 New crop preparations are late and there is likely to be a big cut in acre. age.
 With a few resting spells the marke. was active throughout the days trad- ing. There had been realizing by those who recently bought up to with in the last half hour of trading, then support came in and carried prices up 25 to 30 points.
 Tn New Orleans the market had a range of 70 to 75 points, while the New York future market ranged in a wider field, being from 80 to 90 points but that market also gained a good portion of the days loss; the cloae be- ing 30 to 35 points lower than last Thursdays final figures.
 Spots in New Orleans were marked up 25 points with sales of 2400 bales Middling 27.25c.
 There was no tenders on the March contract and no sensational develop ments. that month ranging along with the other near positions.
 Western spot markets were from 50 to 80 points off on middling and east ern spot markets are unchanged to 5s off. Houston, Texas reports sales of ! $500 bales at a decline of 50 points ! middling, 26.25c.-John F. Clark x Co