The Birmingham age-herald., 1922-07-01
PriUate Wire News
$. R. STEWART e CO.'S LErrER

Birmingham, June 30.-Cotton opened 10 to Is points lower this morning a Liv- pointing, but the forecast for showers over 1 the entire cotton belt helped to hold the prices steady. Prices ruled rather feature 1 less but firm during the entire session. most of the traders preferring to look on until Mondays report
 There were more private condition re- ports issued today, one being high as | 75 per cent. with a 10 per cent increase in acreage. However, the average guess of nearly a hundred New York Cotton Ex- change members is 732. Complaints of | the weevil continued to come in The Journal of Commerce has this to say the pest: The most serious menace to the 1922 crop is the weeyil in : vasion, which Is said to be the greatest on record. An, overwhelming proportion l of the returns complain of weevils as be- 1 Ing in nearly all fields of infested regions The infestation is the worst ever known. An opinion substantiated by statements s issued recently from the government wee vii laboratory at Tallulah, La to the eff l feet that as many weevil were found a
 snort time ago in certain localities are ordinarily present whole month later Where cotton has begun to bloom. tho | pest is puncturing the squares as fast as
 formed. So seriously is this situation re- tgarded that in the lowlands and sections where cotton has made poor progress dis couraged farmers are blowing up cotton
 and planting corn instead. Many core , spondents state that thus far only half hearted attempts at poisoning has been
 made. "-s. R. Stewart & Co.
 F.J LINNEL & CO.'S LETTER New Orleans, Juno 30.-(Special )-Con- sidering uncertainty as to indicated crop to be reported by the government Mon. day. July 3. at 1l.a6 a. m.. New Orleans time which will be based on condition of the crop as of June 25 and the area plant ed to cotton this year. the marke. ruled comparatively steady today in the face of extensive liquidation to even up acconnts AdVanCa q ha httro Returns to the New York Journal of Commerce average the condition of cotton
 at 72.+. point to an average increase in acreage over last year of s.4 per cent. in dfcating crop of 1.224, 900 bales with A general complaint of weevii infestation
 which Is the worst ever known. local commission house returns aver i. aged condition at 76 per cent. and average guess of members of the New York Cotton
 Exchange on bureau Is 73.z. Last months s bureau 69.6.
 increase in acreage to be reported bv the government will have influence, the mar Ret Will be swayed one way or the other bv the indicated crop.
 General impression ts that if povernp.n, estimate Is 11,250, 900 bales or mora the market may decline temporarily: but If if ]. IS, il,ooo. 900 bales or under. values will likely advance. In event of market de- ciining as result of Mondays bureau re- port. we favor buying, especially if tho weather remains showery and unsettled in- "ohid DC IdvOrdDl6 Tor in- crease and activity of the weevil; in which case damage to crop may follow. Aside of the uncertainty of the size of this years crop, which will be in matur- ing even in the early producing sections or southwest Texas stocks of old crop cotton In the south are very small nak- ing trade dependent on this years pro auction for next seasons requirem ents. which promise to be large, probably over lS.ooo,o00 bales.--H and B. Beer HUBBARD'S LETTER New York. June 30.-(Speciaf) )-Ths Liverpool market was some what off this morning and the prices in our market re flected this easiness. market opening down some 10 to IS points. The market re- mained somewhat featureless during the early morning trading except for some buying by commission houses The mar ket Is entirely bureau affair with very little business going on. The mem bers estimate of condition turned out fo be 73.2. This represents the guess of s2 members. We are still receiving good re ports from Texas. indicating that the cron there has recovered tremendously from the bad start.
 One private estimate indicates that Texas has improved 10 per cent from la sf month. With these crop reports cominr in, we feel the market may ease off tenn porari1y and 1t will be a question to figure out in July whether sufficient cotton can be made to meet the worlds needs- Hubbard Bros. & Co.
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