The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1921-12-15

Private Wires Report
Everything Bright
on Market Horizon
SHANNON q co.'s LETTER


There has been very little sugges-
tion of weakness about the cotton
market today in spite of the fact that
the opening advance did not hold
against realizing sales and offerings
through New Orleans and southern
wire houses. Much of the demand has
come from the trade which evidently
wants some cotton but is following
the policy of waiting to be sure that
the full effect of the estimate has
made itself felt on holders before
buying
The market does not suggest any
pressure from uneasy spot holders
and the average run OF spot news in
dicate that there are buyers for every
bale offered in most sections of the
belt.
Today is the last day for stock
sales to establish losses and has been
watched with great interest. 1t would
seem that there has been consider
able selling of this sort in the rails
for the past week and no doubt this
accounts for the sluggish and unsat-
isfactory way in which the securities
have acted. On the other hand the
market generally has shown a fine
tone and has every appearance of
continuation of a bull movement.
LilO oiAOl AAllCl COZ COAllHuCS " NC
large and the market seems to be
broadening and getting bigger each
day 1t would seem likely that be-
tween now and January 10 we are go
ing to have something in the way
of a real upward squirt, anticipating
the easier money rates which would
seem to be assured after that date.
The market closed strong and ac
tive.-Post 81 Flagg.
s. II. STEWART 4 CO.'S LETTER
Birmingham, December 14.-Liver-
pool was much better than due this
morning with slight increase in
spot sales. The futures opened about
20 better than due with sales at 5000
bales, but at the time of their clos
ing values were only slightly above
yesterdays finals. Our markets
| opened 20 above yesterdays finals
and ruled strong throughout the en-
| tire session on the better cables and
bullish consumption report. The Mo-
vember consumption figures being
526, 900 against 5000 last year, this
| caused shorts to cover freely and
brought in fresh buying of good char
acter If the consumption at present
rate, that is for November, is MAIN
tanned despite 80 days in November
consumption of cotton alone for IL
months from November of $4,000,
whereas the domestic consumption
for the cotton year 1919-1920 was
6,429,000 when business was at its
highest. The cloth markets showed
an Improvement in demand. 100000
yards reported sold at Augusta for
Chinese importer another report stat
ed the North Carolina mills were be-
coming optimistic and predict boom
in business shortly. Many plants IN
| this section shut down little while
back are resuming operations and the
knitting industry looks to the future
with hope and confidence. The New
England mills were in the New York
markets buying certified stocks there
at premiums There was no notice.
able improvement in the southern spot
demand today, but when this demand
| appears we expect much higher prices
| and believe the market a purchase at
these levels-S. r. Stewart & Co.
HUBBARD BROS.
New York, December 14-(Specialo
Increased confidence. together with
better reports from Manchester,
caused another advance In Liverpool
this morning. That market failed to
| hold, however, as straddlers were
| good sellers just before our opening
against purchases in this market.
| Our market has been quiet and steady
| during the day. The principle feature
| was the census figures showing $685.
| 600 bales consumed during November,
carrying the total consumption since
| August /, 1,972.000, or on basis OF
| 100000 for America alone. Stocks
| in mill warehouses indicated about
three months supplies on December |.
| These figures induced some short COW
ering' and scattered outside buying
on the theory that with the improve
ment abroad there would DO sufficient
increased demand for cotton to per-