The Birmingham age-herald., 1922-06-22
Priuate Wire News
F. ,. LINNELL & CO.'S LETTER


 New Orleans, June 21.--6Speciai.) Today's weekly weather and crop government report was the best is- sued so far this season, and the weather outlook in the interior was more favorable Nevertheless, market ruled remarkably yesterday, due to trade buying, causing scarcity of floating contracts. A sustaining fea- ture of the situation was the con tinuance of good demand for spots at higher prices in Liverpool. with domestic and foreign trade buying still in evidence.
 Reviewing developments of the past week, Washington reported "temperatures were unseasonably higher in nearly all cotton states and sunshine generally ample. while there was light to moderate but rather heavy rains in some Atlantic coast districts and there was too much rain in some sections of south ern Texas. Cotton was favorably af- fected by weather conditions and substantial improvement was wide spread.
 Also conditions were favorable for cultivation which made satisfactory progress. while high temperatures were Instrumental In checking weevil activity. although weevil con tinue numerous in most sections. The condition of cotton in Oklahoma ranges from rather poor to excel lent; it Is fairly good In southern Texas, and very good in north and northwest, but mostly rather poor elsewhere in Texas. Cotton made very good progress In Arkansas and condition is mostly fair. Improve ment is reported in Alabama. Cot 1A Georgia. where it Is frulting well. Weather was most favorable in the Carolinas, where much needed culti vation was accomplished.
 In view of the improvement re- ported In the condition of the crop with the activity of weevil checked for the present. and as discretion Is the better part of valor, and pru- dence the better part of wisdom, 1t would seem to be advisable to real ize on long contracts as the next bureau report. July 3, will likely in- dicate larger crop than was in- dicated by the June bureau, espe- cially if the government estimates larger increase In acreage this year than the average increase of about ' per cent by private advices, and while such yield would likely be inadequate for world requirements next season, such results would prob ably affect sentiment unfavorably since market Is about cents higher than on June i.
 Meanwhile there may be heavy tenders on July contracts in New York, where certificate stock Is 205,- 900 bales, and there Is the possibility of nationwide rail strike July 1. the decision to strike or not to T,.,o haps few days later, which would be serious development in event of the strike being called and apt to depress the commodity and security markets and upset business in general.-H. & B. Beer.
 S. R. STEWART 6 CO.'S LETTER
 Birmingham, June 21.-The Liver pool quotations came over better than due, with large sales of 16,ooo bales, their market very strong at the close but our opening averaged lower on profit taking and on re- actionary professional sentiment. The early selling was taken well. however, by scattered buyers. mich of it for the trade The weather was favorable and the. weekly re- port was the best in many weeks. The latter brought in selling that rhe market could not resist and de- pressed prices about $2 per bale under last nights finals. Little Rock wired buyers they were swampcd with orders for spot cotton and lit- tie remained and practically none offered, stated cotton was bringing prices even with July New York. A wire from New York stated Inquiry for the local stock there reported by both northern and southern mills. Outside of the weather there was lit tie or no news. Cotton held up well under the days heavy selling but should the weather continue favor able there # likely to be continued selling. however. any bullish news will be responded to sharply. We would advise the purchasing of the new crop months on further re- actions Tor eventually much higher prices.-S. R. Stewart & Go.