The Birmingham age-herald., 1923-06-08
poREMus. DANIEL & co.

l k vate wire to Doremus. Daniel X Co.,:
 NEW YORK, June 7.-Principally be- cause the main body,of stocks failed to equipments and the rails, traders were 'n- cllned to be little bearish this afternoon. Harvester was the principal target be- cause of announcement that the govern ment intended to take some kind of legal action against the company We do not believe the selling will accomplish much and do not that the general character of the market has changed For the pres ent we prefer the long side on declines. rather than the short side on bulges
 New Orleans daily cotton letter. by pri- vate wire to Doremus, Daniel & Co.,:
 NEW ORLEANS. June 7.-Today's ad- vance in cotton was based on the strength of the spot position and the increasing which those in control of the long end may do anything they like with It. Pri- pence pound for the July in that market and all manner of rumors were heard re- gardng the holdings of July long con- market. rss locally % with with a total @ w stock of 91,311 bales. only 7S13 are certificated, and it is estimated that less than 26.o00 bales of the entire stock is in factors hands.
 Drouthy conditions continue in Texas. and because of this very rapid maturity state may be expected. Present weather makes it fairly certain that new bales will be heard of in the Rio Grande valley this week. but the Texas crop will be short ened if the drouth persists. Too much rain again fell in the Atlantics and the forecast called for thunder showers over the eastern belt generally. In more north ern sections of the belt considerable rain fell overnight and it was not welcomed in any of these sections.
 Chicago daily letter on grain. by private wire to Doremus. Daniel & Co.,:
 CHICAGO. June 7.-Wheat: The July wheat was fairly strong this morning, and there has been some buying based on the ,rf lon hot lA,, continue fairly good on the setbacks. and also some buying on the possibility of a late harvest; The cash prices were firm fair. however, and primary receipts were larger than year ago. Liverpool was Id up Spot wheat there was unchanged. Weather conditions in the main are fla vorable.
 Corn: Estimates for 90 cars of corn and smaller demand caused revision of bullish views on wheat to some extent today. also on corn, and prices suffered a bad break, recovering partially in the late trading. when shorts found offerings light.
 oats: Fairly active demand on the set prices were a little easier. Offerings were well taken by commission houses.
 DOREMUS. DANIEL & co.
 STEWARTS LETTER
 BIRMINGHAM, Ala, June 7.-Liverpool quotations came over points under ex- pectations this morning, but sales .contn- ued large at 10000 bales; middlings there F higher. Cables reported business quiet but general feeling of betterment among the trade Our markets opened about un- changed from yesterdays close and ruled quiet but steady during the early session. Afterwards. however. buying of the best sort coupled with short covering sent prices up sharply. At the close values howed net advance. of 40 to 60 points -or the day. Spots were generally soc to 1bc higher. but light business reported from many points. Quotations ranged from 2s2Oc at Fort Worth to 29.10c at Calves ton strength. in July was the feature to- day and new crops were higher in sym pathy. The near months advanced on re- ports .nat large New York operator was heavlly long of July and the fear of a squee~e caused considerable covering and shifting hedges to October. Except for intimations in the morning cables from ter. there was no important news. The map was fairly geod, the detail showing only scattered showers in Arkansas, Mis- sissippi and southwest Georgia. Sentiment continues badly mixed. but the trade ia Vors sales Of October on such bulges as occurred today.--S. R. Stewart & Go.