The Birmingham age-herald., 1923-03-15
srEwART,s LETTER


 sTEWART's LETTER
 BIRMINGHAM March 14.-Liverpool quotations came over to 10 points better than due with sales of 5000 bales wnlcn were 1000 lighter than yesterdisy. ,iSdI,ne Sat at prices Cables stated British exports or cotton yarns for February were bOo.ooo un . der January and a,o00.o 900 last year. Ex ports of piece goods 57 000,000 under Jan uary, but 9l l.000, 900 over February last year. Our markets opened ~ Poindts apots Tuesdays close and advanced 20 points further on buying of the best sort, coupled with short coverings. Most Of the buying was caused by the indicated bad weather, and october proved to be the leader After the second hour however, the market be came dull until the last hour. when profit taking. along with professional selling, depressed values to a closing averaging unchanged to 20 higher than last nlgh Spots generally unchanged 10 Io higher with good business at most ot the southern points. .,o
 Consumption for February was 566,o0o bales. This, with the wet forecast Tor n, the but consumption figures were offset by the larger mill stocks. The market has had a good upturn and reaction IS III oroer'- $. R. Stewart &, Co.
 DoREMUs. DANIEL CO.
 NEW YORK; March 14.-Stocks: The list continued to give a good account of itself. There was again a noticeable sentiment Of cheerfulness among traders so the me of least resistance is upward. The raiIs should do better. They are bendinBs every effort 10 secure equipment for the heavy traffic that will come during the year, these purchases to be reflected in the equipment stocks.
 Cotton; The census consumption fig ures were larger than expected. and buy ing was encouraged by this continuance of bullish aspect. There has been trade buying again today.to fix prices on cotton sold on call to mills. Profit-taking sales have been comparatively free at times during the day with resulting setbacks of Is or 20 points. on the whole, however the market has taken these offerings well. and>>its appearance is really more healthy than might be expected at such hlg n levels and after rapid an advance or over 1c per pound this week. We again call attention to the extra hazard tna. a. tends trading under present conditions at the high prices which now prevail
 Grains: The grain markets were com parativeiy inactive. The total price rang e was small on account of continued limited wire service. There was a good sized ex- port business in wheat and rye ana some in corn, but the bulk of the wheat was Canadian and therefore created little en- thusiasm on the part of our trade Bear ish sentiment predominated locally, put even with the help of a favorable weekly weather and crop report, closing prices were a shade higher than those Of yester- day Receipts were smaller than antici- hated. but consignments were in only fair demand. There were indications or export business, but the volume could not be definitely learned. the movement VIII probably be materially lighter from now on and in opinion prices Tor coarse grains will decline very little, if any. Com snission S houses furnished support to the provision market after an easy, opening and late in the day there was puylns o' lard credited to a large packing interest," Doremus Daniel Co.