The Birmingham age-herald., 1923-12-08
Cotton Letters
HUBBARD BROS. | co.

British general election are disappointing in that the conservative ministry has not leads to an apparent deadlock in the com ing parliament and leads to the advisa-
 bility of another election in the future,
 in at this writing that the position of the three parties conservative, liberal
 sdnes. 0s ,aeso ne
 at the result of the election. The foreign market was steady this morning having l tion and also larger figures anticipated for
 the ginning report tomorrow. At the
 opening tomorrow. the census report will 1 cember 1. It is expected that this will
 run somewhat larger than the National
 Ginners association of s,14o.ooo bales;
 estimate. issued today showed s.7ss.oo0
 running bales exclusive of linters. ish the ground that the present re- l action has not gone far enough to bal
 the nesy sharp | steady undertone in view of the rather
 unfavars ble English political news. SHANNON & co.
 NEW YORK, Dec. T.-The early market
 showed a tendency toward firmness though it met profit taking by those who bought
 at the recent low prices as we'll as fresh selling for professional short account, both being much in evidence except on favor able opportunities on a scale down. There was nothing In the news to promote fresh as exports showed plainly that prices are
 not at prohibitive point but sentiment
 in many quarters Is rescfaonsfy hes b on sc sor any large urgent demsnd for goods what year when inventories have been made up. It is. however. equally true that willing as
 holders of the actual may bs to accept anxiety to sell and no disposition to make concessions. Mills seem to have provided
 for fair portion of their ia ba and i'd a position to wait for a little, but holders are carrying stocks easily and the supply week A trading market with fairly wide swings may be seen for while. but the
 market is much healthier and more nearly
 in balance than for a long time and there
 is no way to evade the shortage of sup ply
 NEW ORLEANS, La, Dec. 7.--Cotton opened strong andd higher, owing to bull fish views expressed over the English
 trading. trading Large spinners takinss, big exports and lack of spot pressure tended to restrict selling and to maintain bull
 In the late afternoon, however, q good deal of eleventh hour liquidation' set in
 took Si tng of tSs to M Ia reaction and values dipped 6S to S7 points under this Combined pressure but | came back strong in the last few min utes, ending the day with over 40 points
 net advance. nightmare among the
 cleared away, by yesterdays election and
 1Tus They were were afraid of the protectionisfs
 for the the liberals. The increase in the
 number of liberals returned to Parliament
 is accepted as pointing to coalition be a strong government with probably Lloyd George at the head,
 erpool and the census bureau will both
 help the market to higher prices.-Fen- ner & Beane.
 NEW YORK, Dec. 7.-with better ca
 bles than due in spite of the election re-
 suits a better feeling m was apparent eyer. has not been a conspicuous buyer
 and the market lapsed into dull pc and short selling by locals.
 It is felt by the best people, here that tHe'' the general business situation continues | satisfactory and the lack of confidence of the government confirming the re
 the the ginning figures will be 5000, 900 which the market seems to have accepted
 Believe recent short sellers will not care til the government estimate is out of
 the way on December 12.
 s4I5d; March. s5;l5di, May s5.25d; July, l Liverpool due December D: January, | e0.15d; March, 20.18d May, 20.07d; July. | 19.55d; october, 16S2d-Fenner and Beane.
 .4 IT. < B. BEER
 l NEW ORLEANS. LA, Dec. 1.-Private i cables from Liverpool today were con fficting as to results of the English cleo 1 tion. in which the majority of the con | servatives was reduced materially by
 heavy gains of the lsborites and liberals, but press reports say returns have been dscoura ging to Premier Baldwin which | is reflected in decline of E of point l in English consols. Nevertheless Liver l pool ruled better( than expected, due l probably to there being less pressure on 1 the market in consequence of liquidation, having subsded for the present.
 Accordingly American markets were somewhat higher and experienced tenn porary bulge owing to Watkins bureau | estimating the crop at 0.7S6,000 bales ex- elusive of ljilters but considerable real!z- | ing was met on the rise, causing values | to ease off again.
 | report on the quantity Of cotton ginned to 1 December l.. About s.140.0o0 bales are l looked for and if these figures are con 1 firmed the market Is likely to ease fur l tlier probably advance if returns show
 Gross receipts at New York today were \ 2i GOO bales. n1sking the total stock there f los, 900 ys. 57.000 last year indicating ten Iders on December contracts there likely 1 to be large ins earSfuture.
 Az ayet t1ls market remains unsettled, l with no revival in the den1a nd for spots.
 ton,orrows report and the loxernment's 's final estimate. scheduled for December 1 g. IT One Liverpool ca ble stated the market ' acted avery we'll in face of disappointinA