The Birmingham age-herald., 1923-04-18
Told by PriUate Wires
uIRRARn,s LETTER

Vtu U fsONRC " EI So
 HJBBARD's LETTER
 NEW YORK April 17.-( Special D-The pressure which has been evident for the past few days Was lacking this morning indicating that the marekt had been with a better feeling in Liverpool, brought about rally. II cannot be stated that sentiment has changed materially. h fact, we would say that the vast majority are sttll inclined to look for lower prices. On the other hand the weather conditions over the south continue to be poor and the crop is unquesttenahly being material stance this year. While the majority do not agree with our point of view, we consider that the liquidation has runs it's course. and, while we may have tenn porsry setback before the market in- proves, that the chances are now very much in favor of at least substantial recovery from the low seen yesterday. Futures in Liverpool are due May IA. old, July 1f 6sd.-Hubbsrd Bros. X Co.
 sTEwART.s LETTER
 BIRMINGHAM, April f7.-Liverpool fur lures came over about due, but sales We're lsFgt at 10000 bales, and middling cables while business quiet, the ma .ority Of trade Is in optimistic mood our markets opened 20 points higher than Mondays close on overnight buying, which MAS brought i'll the market by continued unfaNorable weather eve. the belt Prices ruled quiet but steady during the morn
 
 found offerings light. and along with short covering the market advanced fur ther-25 points-bringing the finals 50 points above the previous close and gain ing yesterdays loss. Spot quotations were generally 30 points higher. prices ranging from I,1pc to 29e. Sales were reported light al the southern markets Many wires from Texas were received in the nature of unfavorable weather and continued de lay in crop preparations. As yet these TO ports have had very little effect on the market as the trade, believe there is yet plenty of time to prepare for a large acre age Howevr. should these reports con tinue much longer there is a world of shorts to cover In the new crop months Spot demand seems to have halted for the time being. Worth street dull and easier. buyers holding off because of the apparent lower trend In raw cotton. Cot ton is most likely to be scalping affair tor few weeks fluctuati tions depending on the weather and purchases on such set backs as oceurfed yesterday will prove profitable, especially so as long weather conditions in the west are unsettlcd.-S K. Stewart X Co.
 DOREMUS. DANIEL & CO
 James E. Bennett 6, Cos stock lcttrr, by private wire to Dorenlus, Daniel x Co;
 NEW YORK April i7.-tieneral ssnti- ment was little more cheerful in regard to stocks today and prices were llttie firmer as rule There buying of stewart Warner fumors Of dividend increases and of split-up in prices of shares. Steel and equipments r.flect tho excellent business conditions prevailing at
 
 unwarranted. Raiis were given moderat Q support and there was no pressure to sell. st. Paul preferred was given support by some Of the local professionals. Call money frightened al times but general money conditions show little change. World trade conditions are picking up a little. Sugar and rubber shares came in for favorable comment to 6 considerab ble extent and it would seem that the rub Der shares are in line for i'm mproVeinent tivity.
 Roscoe Redwood & Co.'S daily cotton letter, by private wire to Doremus, Daniel :. NEW ORLEANS, April 17.-A very steady undertone ruled in cotton today throughout the session. Strong bulgea fea tured the early session and while there were small recessions during the middle stage of the day. the afternoon brt ught | renewed strength. Buying was dve to the continued highly unfavorablc weather over the belt and increasing complaints of the lateness of planting. Predictions of n low CT market by prominent trader had lit He effect, and in the afternoon new high levels for the day were reached on cN- pectattons of an extremely bufiisif set of Weekly crop reports froil the government on the opening tomorrow. The weather oVef the greater part of the belt was both c9ld ana vet tempefat ures averaging from $ to degrees below normal over more than half of the entire belt A great deal of rain feil ia western and central pot'- tions of the belt with expectations that the rainfall would extend into the eastern division by tonight. Most people thought
 
 Of the belt meant prolonged wet weather Tor he belt generally EXports from all ports fer the day amounted 10 26, 632 bales N limington cleared l5.000 bales. reducing the stock there to only 1667s bales. Total stocks at all Inited States ports now amount to only 5G4. .gsS bales against a64 . saa a year ago, and we consider this to be one Of the most important develop ments in the whole statistical situation ,t,, an the near ,t,i, fuin.e port stocks probably VIII eonttnu" to shrink in an alarming manner. Rullish cop reports are likeIv to nominate to1Herfew, at least ia the early trading.
 James E. Bennett X Co.'S letter on grain by private wire to Doreuus. Daniel < Cn..
 Wheat; Crop news has been extremely bulilsh again toGaS coming frola Nebraska and parts of Kansas and also from ohio. one expert estimates Ohio wheat crop stt o0o.oep year ago. If there arc similar losses in other winter wheat Statcs To be disclosed ., by growing weather, the sltua- all reports Nebraska has no more than half crop promised. Cash markets were easicr here. today. but had little effect as the trendssWas decidedly upward. shorts were good buyers anu some of the longs who sold out. Frightened by the Gapper- llnctet law deslslon, Wee also trying to feshstste th"W lines, but had to do so at advancing prices Western interests were fai: seile"s ef July No. wheat tYcd) Was relatively = to 3c off Cables were unchanged h tnd higher in spite of our decline of yesterday. and tnis Indicates q strong position abroad. Northwesi weath Miil not start seeding uncer ia vora ble condi- uons until next week. Corn: Worked higher in sympathy with wheat and there vas n lack of heavy pressure both from the farms and from loeal interests while there was considerable general buying The cash demand was not lactive. but there was little business with 10000. In all proba bility receipts will be lighter and the Argentine news suggests a continued brisk export demand as the Argentine sur plus promises to be about S5. 900. .000 which IS 2i,oOO.OoO less than shipped last year. Farm labor shortage is going to be another big bull influence. We believe prices will work higher. Oats: Undertone easy with some country selling Of Sep tembei, while cash interests were buyers of May and July. Trade Is of moderate proportions and with better weather the S.eptembsr selling was of fair propor- tons. Receipts moderate at iG car8 Ga sh sales. 60,0o0. Market will follow other grains. Provisions: Prices were not mucn changed. News was q little bearish on the whole. with Liverpool lard prices Larger Increase in stocks here than expected and an easy tone at the yard. Receipts 29,00G with the market steady to l0c off the top sS.5o---Doremeus, Daniel X Co.
 ALABAMA BOY WINS
 Siluria Youth Gets Prize For Extem.