The Birmingham age-herald., 1923-11-15
Ouer PriDate Wires
SHANNON & co. STOCKS

day has shown some sharp contrasts. but on the whole has given fairly soFd ,,sfr ae7 - count of itself. Foreign exchange aSan broke sharply but did not seem to nave much influence. News iegardlnS the California oil situation was also ,,i nnsat 1 isfactory. the bringing of new wells anc deepening of some of the old ones in tiie Long Beach field has increased daily pro duction by 17,0oo barrels. The eMtIa INIT dividend on Eastman Kodak of Sl.25 was about in line with expectation and had been already discounted in the pri1e, or the stock. The statement of the Ut8h Copper company showing the equivalent of SPAS share earned in the third qnar generally expected. There are many ln- dications 10 encourage the hope that cop per has turned the corner and steady nm provement from will be shown
 Sentiment throughout the street con tinues decidedly hopeful and there seems 10 be still more inclination to DICK up stocks reactions than to sell on nod- crate advances.
 Sales 97i000.-Post & Flagg.
 SHANNON X co. POTION
 NEW YORK. Nov. l4.--The early mar ket was under some pressure from what some described liquidation while others believed much sof the selling was for short account on western orders and Tor Wall street traders who have not given up the practice of feelns out the market to see how much resistance there is let. Such tactics are encouraged by reports curtaiment by mills. continued resistance advances in the goods markets and re ports of cotton offering on a tendera bic
 
 rounded out for monGl however, it is found that consumption Is going on a pace and there is no lack of advices from eX- cellent sources that cotton in the south is firmly held and that it is becoming increasingly difficult to fill orders some express the opinion that the holiday trade will he of large proportions and serve to break up the lethargy in the goods mar. .kets whielf-is the one remaining ba rrier of importance to a further advance in cot- ton Stocks in the hands of sdistrbutors l1ltA ha of x-ara n q h attempts to replenish them are, still based on prices for cotton much below current the buyer to secure the goods iinnn nnefiately 10 supply his trade. Even the bis depart. ment stores are reported able to offer only very limited selection to GUS toners their supply oI many varieties is com petely exhausted. There Is thought to be some accumulation of goods on hand in mills, especially in those which have been financially able to run mparatively full and have done so, but these S stochs e tential demand should begin to be ef fective. The short position. presents no look best as bullsh factors appear more potent than bearish and the market is very responsive to support--Post & Fiagg.
 H. E. BEKn's GRAIN
 CHICAGO. H.. Nov 14.-wheat gained fraction today while corn made 2 small steady Liverpool made a fair response to small gain yesterday if one judged by the quotations al one put no leSpollse if one took weakness in sterling into ac- count. On the dip there was the same good class of buying which was effective in steadying market yesterday and as soon as selling ceased prices advanced with little difficulty. Today it developed that the export trade had improved as the buying of futures had led one to sus- psct The interior cash wheat markets were steady to strong relatively. Receipts of corn 175 cars and cash prices were one cent lower to cent higher. Local bears continued to stress the claim tha the hog corn ration would tend to reduce feeding opera tions. On the other hand 1t might be noted tbat the lard lsitus ton continues favorable advancing hos D prices. market gave satisfactory account of it. self today. While it is not apparent that there has been any change in the under lying situation 1t does appear that the recent declines has improved the technical condition and~ placed the market in nesiton to respond to any favorable news alAt may develop.-H. X B. Beer.
 q R. STEWART X co. COTTON
 A BIRMINGHAM. Ala. Nov. t4.--Liver- pool quotations came over reactionary this morning futures were about 25 English points below due with good sales of 5000 bales at an advance of 1 point in their spot prices Manchester cables continued 10 show improvement at the mills. Our markets opened 20 to 80 points lower than Mondays close Ion the weaker Liverpool. The market ruled in scalping position