The Birmingham age-herald., 1921-07-09
Weekly Cotton Review
Rx Associated Press

increasing export and domestic trade demand have followed the pupilca- ton of the end June crop figures and the settlement of the British coai strike in the cotton market. Buylhg on these features was checked dur ing the earlier part of the past week by the fear of increased spot offer ings on advances.
 Later. however, a firmer spot basis was reported in the south owing 10 an improved export demand ana nrices here made new high ground far fine movement during the days trading with october contracts SCH ing at 12.9Sc compared with ll.2zc, the low record of last month ana 13.9ec. the best price touched on the advance of last May. According to local brokers, buyers have not founo much encouragement in the HewS from the domestic goods trade wnlcn has been more or less irregular while some increased curtai1ment has been reported among the yarn mills. MIG week reactions were promoted py firmer week review or crop progress by the weather bureau, and there has been no SCI louo SiiNieiSAhA
 weather conditions since then.
 The increased spot sales reported into the southern markets at mod crate advances and larger hedge sell ing also tended to hold the market in check during the earlier part, or the week, as indicating that buyers were securing cotton quite readily. Toward the close of the week now ever, it was reported more difficult to buy in both eastern and western sections than when prices were cent pound lower. These reports combined with smaller arrivals here or delivery on contracts, the increas- ed spot business reported in Liver pool and indications of reviying Lancashire demand, were largely re- sponsible for the late week advances.
 A statement that the war finance corporation has agreed to loan money for the financing of staple cotton by an association of Mississippi growers may also have contributed to the firmer tone of the market that addl- tional credit facilities would provids if they should be found necessary by the committee which is now investi- gating the matter.
 The extent of the old crop supply Is still being emphasized by traders who feel that the test of the spot markets will come as new crop cot ton begins to move, and reactions during today's late trading were ac- companied by rumors of favorable mid month crop condition figures.
 HUBBARD,s COTTON LETTER
 New York, July S.--(Special. )-Lo- cal feeling was cheerful this morn ing on better Liverpool cables and reported spot sales in that market of 10, 900 bales, the highest in some time.
 Liverpool and Wall street bought on the opening while the south and locals offered. The market advanced some Is to IF points over last nights close. Texas reports an increasing demand and a firm spot basis. With news like this coming from the cot | ton belt and at the same time evf- dence of Manchester doing better we have reason to believe that general conditions are slowly improvine throughout the world. Consequently we can expect an advance owing ec mills will soon be buying cotton Hubbard Bros. & Co.
 ATLANTA RESERVE BANK.
 Statement of resources and ilabili' ties. Federal Reserve Bank or Al lanta, at the close of business, July 1 6, 1921:
 Gold coin and certificates in vault s4.5S6.327.40; gold settlement fund $s,47o,5o1.7S: total gold held by banks $14056. 6.s2s.1S; gold with federal re serve agent, s5s,s31.70o; gold redemp tion fund. $5,5Ss.156.22: total gold re serve. $7s,477.6S5.40; legal tende ! 007 72Q. tntol
 serve. $S6, S5,424.40. Bills discounted Secured by government obligations ss5.Oea,1s2.37; all other; $65,753.703.35
 bills bought in open market, SS62,
 563.s1; total bills on hand, $101.77s,
 42s.0 .0s; United States bonds and notes 4 $10.140,S1S.15; one-year certificate o
 indebtedness (Pittman act), $14.564.
 00O; all other certificates of indebt
 edness. $SS4; total earning assets
 S12S,4S5, ,131.1S. Bank premises, $751.
 91S.94; 5 per cent fund against fedora
 reserve bank notes, $511.550s uncol lected items, $19.279.467.s4: all othe
 resources, $6S9, total resource
 $2S4,194,030.65.
 LIABILITIES
 Capital paid in, $4,096.550; surplus
 $S,70s,2S2.32; reserve for governmen l franchise tax, $2.5Ss, 72S.46; deposits government. $1,S72,706;55; membe ] banks, reserve account $43,S07, 4SS.22 all other, $s54.S66.Ss; total deposits $46,035,061.65; federal reserve notes i l actual circulation. $14s.635.760;, fed !, eral reserve bank notes in actus l circulation. $s.43S.500; deferred avail
 ability items, $12.s7S,216.7o: all othe
 liabilities, s71s.sss.52; total liabili !, ties. $234194,030.65.
 | Queen, Victoria of Spain was at on