The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1921-12-06
Market News
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Private Wires
HUBBARD,s LETTER

New York. December 5.--(Special)
Market has been extremely quiet and
dull all day. being slightly easier
after the noon hour. There Is so lit
tie business that an expression OF
opinion is hardly worth much as the
actions of the market is entirely To-
cal in character.
We hear, however, of many In
duiries for shipments after the first
of the year, running through until
late spring. The bids are too low for
business but 1t is indicative of bet
ter demand in the not distant future
Hubbard Bros. & Co.
SHANNON & co.'s LETTER
| New York, December 5.-(Special.)
Viewed from any angle the cotton
market has been extremely dull and
! uninteresting with trading reduced
to a minimum pending further devel-
opments and not much activity seems
probable now until the ginning report
and the government estimate OF the
crop have come and gone.
The usual selling of Christmas cot
ton has not as yet made its appear
ance and there is, as far as we can
learn, no pressure from the actual
We think we'll of purchases of March
or MAY around these prices and on
scale down for a pull.
The stock market today has shown
really extraordinary fundamental
strength and on two or three occa-
sions il has looked as II II were go
ing to burst into an active upWaru
movement. but this tendency is I'M
doubtedly fought vigorously by the
large short interest which is uncoV-
cred and they are sufficiently strong
so far to prevent anything like
sharp rally.
The great decline virtually culml-
mated a year ago in December. we
saw this for although there were
other sinking spells after the leneA
was never materially lower than the
December one and December really
marked the low level and the turning
point in the iquidation.-Post q
Flagg.
=. n. sTEWAR'S Il CO.'S LETTER
Birmingham, December 1.-THE LlV-
erpool cables were about as due TINS
morning with light sales at o'oVv
bales. There was no foreign news Oh
Importance. Our markets opeheu
about 10 above Saturdays close anu
ruled very narrow during the entire
session, proving W OC
than a waiting affair on the GIN
nings Thursday and the crop estimate
by the government on next Monday
A rumor was out that the national
ginners estimated that Thursday
figures would be around 100000. This
rumor had no bearish effect, now
ever, We'll Brothers estimate the crop,
excluding linters, at 7,s27'oo0. Inc
Journal of Commerce says pink boil
worm menace is being Sharply
watched, big cut in Texas acreage
seems reasonably certain, big acre
age decrease also expected in Okla
homa and Arkansas. The pest has IN
yaded many important counties IN
Texas. it having been found at %
stations in Texas
| 1t is feared that cotton raising III
Texas may as a precaution be re-
stricted to fixed zones in that state
and with this new pest, the Doll wor III
and finally high cost of production 10
face. Texas may have scanty crops
| for some years to come -Ohieae
wired silks were up zoe per pouno
SATURDAY.. business having Increased
with Mexico and South America a
scalping market with small fluctua-
tons is looked for by the trade Gn
til the ginnings is out OF the way, w.
favor purchases on set-bacKs-e' ~
Stewart a. Co.