The Birmingham age-herald., 1922-07-14
Priuate Wire News
$. R. srEwART s CO.'S LETrEn

Birmingham July 1s.--LiverpooI came over disappointing. but before our markets
 had opened showed strength. probably on buying orders from this side, and brought their market to and slightly above dues. The Initial figures in our opening was un- changed but immediately turned strong and ruled firm throughout the entire ses-
 sion. The finals were 40 points above tho previous close. Cotton experienced a
 fairly lively session as important trade and
 broadened out. renewed flow of wee vii reports of an unfavorabe nature to this market and rather builish note In the southern spot inquiries. Excessive hot weather continues in Texas, where a dry spell is threatened and showery
 weather east of the river prevailed. This
 was buliish enough to cause shorts to
 of good character. It was said that large
 spot houses in New York with southern connections bought around 100000 bales.
 The rings were flooded with weeviI dam-
 age reports. Unfavorable map forecast for
 unsettled weather caused the advance. and ] should such reports continue much higher prices will be Heen.--s. R. Stewart & Co. F. J. LINNELL & CO.'S LETTER New Orleans, July 13.-(Special. )-Hav-
 ing arrived at the period. middle of July. when natural deterioration of tho crop
 begins and weevil are more numerous | than ever known at this time of the year. extensive buying appeared today, causing market to advance sharply. Ac-
 cordIng to returns to the Giles bureau.
 average condition of the crop ia TIP l against their report of 70.9 two weeks ago.
 when bureau. was 7i.a. showing an i'm 1 provement of only seven-tenths Of one point for the half month. the favorable weather notwithstanding. due to weevii.
 which are reported to be increasing. Since returns indicate that the growing crop has failed to show any improvement of con sequence. with the continuance of good weather. 1t follows that deterioration would
 set in in event of wet weather returning g
 to the cotton region. under which condi- ! tons weevil would likely increase and be- como more active.
 Texas Is in a peculiar situation. Is want ing general rains. and If rains materiaiize
 weevil will probably increase, while if the hot dry weather continues damage by drouth or hot winds. If they materiaiize, may follow. Therefore. developments in either case would probably be buliish. Elsewhere in the belt the weather re- mains rather unsettled. with probability of scattered thundershowers. which Is fla sects and detrimental to the crop. In other words the crop Is now enter
 ing the most critical period of the sea
 son. Aside of possible further unfavor-
 able weevil developments. there is possi-
 bility of tropical storms when least ex-
 pected..
 In the meantime stocks of old crop cot : ton in the south almost exhausted.
 and there is said to be urgent demand for new crop cotton in tho early produc-
 ing sections of southwest Texas at rel
 atively higher prices than for old crop cotton at ports.
 To make situation all the more acute.
 sdvices from southwest Texas to the
 effect that deterioration has set in there.
 owing to want of rain and damage by wcavil.
 | If Texas is favored with good rains the market may ease off tenn mSSorarily but
 would probab bly, react thereafter in event of the weevii increaslng.-H. and B. Beer. HUBBARD'S LETTER New York. July 13.-fSpeciai. )--Scst- | l tered showers In the northern and eastern
 belt together with reports of boil weeyil damage brought higher market today.
 with many of the long lines that had been Iliquidatcd last week being replaced. The temperatures An west Texas are slightly cooler, but there is considerable unea siness regarding the crop there. The market is passing through ono of those phases that must be expected this sumrne CT when crop deterioration. either actual or imaginary has proportionalIy a much greater influence than . period of I'm provement.
 In other words. permanent decline can be looks. for until tho trade feels that a crop l. ssured for they have too often seen an sxeeii srt early July prospect de- stroyed eefaro trs middle of August to
 take any chances ee . similar experience this year.