The Birmingham age-herald., 1923-11-06
OUer PriUate Wires
s. R. STEWART & CO.'S LETTER

stated English textile mills show a gooe gain in sales, decided change for the bet. ter noted, general inquiries and suo stantial business concluded iast week our than Saturdays close. failin to respond to Liverpoors advance on ac cunt of re actionary sentiment existing among the trade. After the opening the market eased off about 30 points fur her on sell ing that found support insuff lent tc an- sorb the trades and reports of saeier spot basis at some southern poin s. Al this level many thought the decli had gone far enough and trading attitt de changed and continued buying, sgiicH was for large Wall street operator the ba#- sold well above the recent diEa prlces. Sales of December. New Tors asainst purchases of the March opt Hon aas l feature during the morning. Yt said that considerable cotton was being shipped ! to New York for tender on December and wanted the cotton. Aside from frost in
 west. Texas and Oklahoma there was no
 business base"s was sTs Father m light There would
 be more disposition to buy at these new | high levels were it not for the statement with cotton goods and one hears 1t re-
 marked that cloths must come up or fu-
 lures. react. At any rate, the supply warranted RrEaSss ' on 0 resctions s % Ali New York markets are closed tomorrow election day.-S. R. Stewart Co. s=. As H. & B. BEERS DAILY LETTER NE ORLEANS, La, Nov. 5.-Strong over weekend brought! the market back to near highest levels of the season this morning but there was a1Ea muon fea'ens fe sass off again. The decline, however, met with good support owing to bullsh trade advices from Liverpool and Manchester resulting in market recovering.
 Washington advices to effect that the this this year and on which fast Fridays crop forecast for yield of 10, ,00o was based. was 6.1 per cent but ss that will not be announced until the final crop estimate is issued on December lS; acreage abandonment remains subject to revision next month.
 Press report from Washington states affairs will be decided within AS hours as the French ambassador is to present Frances attitude formally to. Secretary coincides with Premier Poincare's recent speeches, the United States will refuse The next bulletin of interest to come from Washington, as regards crop VIII be the census bureau report on quanhtlltgy qnhldg tiine.. November 8. In this connection the following com parison will be tound of interest:
 apSss 's SsSss'' J s!sisss S'tss; V;
 blanks vs. 1. 1.1s1,0oO. Total sinnings for season, blank vs. s,72s;ooo; per cent Hs yet eG dOmeao tsxa 9Isnk trade cond
 tions show no uneasiness over the in creasing buliishness of the raw cotton higher prices will influence jobbers and merchants to buy more freely for future
 On the other hand the textile situa- tion abroad. particularly in Manchester appears to. be improving. English cables @ being optimistic, the prevailing high prices notwithstanding.
 New York Cotton exchange will be closed tomorrow, election day.-H. x D.
 HUBBARD BROS; < CO.'S LETTER
 Cables this morning were better than due, private dispatches reporting continued inn ket opened higher with Liverpool a good buyer in the early trading. After this de- mand was filled the market eased off on dertone was firm at all times and prices improved again later in the afternoon. Business was not active. but there was enough trade demand taken in connection with the buying from Liverpool to absorb the very moderate realizing. The market at each new high price and absorbed certain amount of the crop offered for going on. but apparently the mount of cotton for sale at this level Is less than on other occasions this fall. The weather improved in the western belt but the area of rain moved east. It is to be hoped that we have period of clear weather, as the grade Is already quite low enough. We would call your attention to the fact that the New York Cotton exchange will be closed tomorrow Tuesday,, election day but New Orleans and Liverpool will both be open.
 Liverpool futures are due tomorrow: December 18.55d; January, 1s.b4d.-Hub- bard Bros. 6 Co.
 H. & E. BEERS DAILY GRAIN LETTER
 CHICAGO, H., Nov. 5.--Our wheat market was under pressure from start to finish today; The chief influence was tee dent resardns % possible o reiief for the wheat ims farmer. While grain trade has been laboring under the impression that Messrs. Meyer and Mondeil have been conducting, was to discover if possible the report commended only acreage ad- justment to domestic and world needs reported cash wheat to cents lower with around 100 cars Canadian wheat in the receipts. Kansas City reported, stocks accommodating, with north western demand shut off by the weakness of Minneapolis. The Seaboard reported limited export trade. Winnipeg cash and futures were Canadian farmers have been and are selling only half the what moving from sn ownership of cash wheat by ownership of futures. principally the Winnipeg. May. heaviness. There was buying attributed to eastern interests and the country sent DulllSn adVlces casn was sleduyl to llrHleI. Here old corn was unchanged new 2c lower to Sc higher Kansas Cfty.-H. & B. Beer.
 KAHN BROS. VIRGIN LETTERS
 NEW YORK, Nov. 6.-Manchester again sent over very much better cables than due. Our market did not, however, make a full response and liquidation set in after the opening. Trade demand soon checked the decline and on the rally a prominent speculator bought March CO., Incident with reported better spot de- mand. trade and they show no disposition to It was said that at one time today when December around S0.56c, there were orders in on scale down to 32 cents for over 100000 bales. This shows the potential buying power that appears un- der the market whenever a reactionary tone develops and deters short selling while increasing confidence of the buyers.
 Meagre ginning returns received from some of our friends would indicate the clude full ginning and as this is the next bull card in sight, support all declines is expected until it's issuance.
 NEW ORLEANS. La, Nov. b.-cotton opened 30 points higher but met so much selling and realizing that 1t soon lost all of its early gain and a little more The ease with which the market absorbed the selling on the reastion in casions, and the volume of sales de- creased steadily after tho first hour. Re- ports that the edge is off the spot mar ket for the time being and critical stage