The Birmingham age-herald., 1923-03-03
Told by Priuate Wires
poREMUs. DANIEL 3 co.

NEW YORK March 2.--stocks: Trade position especially in the oil and copper industries. continue to be the basis for speculation. Bear traders trying out the market offer stocks down, find them quickly taken and making no headway, cover These are the principal factors that control the advance and continued strength Of the list days the Liverpool market has displayed sustained strength, and our market has advanced into new high ground for all old crop months with practically no resis- tapce. The extent and rapidity of the weeks advance again invites the question bgeathing spell Although fundamental causes underlying the present situation are paper profits for some speculators who are long of the inarka>p and these might reel disposed to realize on them at any time. advances among operatives in Fall River and New Bedford which may later de weakness is yet in evidence. and the mar let has held it's own with remarkable oo- stinancy,
 duli affair, the entire session holding With In narrow limits and closing frctionsiiy under last night. Liverpool. after s1gn., :, higher Export demand was again rather moderate. but was largely offset by fairly Chicago Southwest prices were steady to 1c higher. The primary run was agaln light and indications point to a con- tinuation of the small movement. Argen- tine shipments were moderate Corn: Ine rather general covering movement agaln snnurh Mas not pro1t takins to cause reactions from the bulges. Prices held within 2 narrow range and @ closed as shaae hae lieve that this market has yet asserted us real srength. and we look for higher levels In he near future.-Doremus. Daniei & Co.
 sTEWART'S LETTER
 NF T lures were 5 higher than due snd mia- dlings 20 points above yesterdays qgoaaoo dao o bales. i,ons Cables from Manchester were somewhat improved over. general condi :. tions. our markets opened about 2S po,nt s options This high opening was caused by overnight covering and large buying py Liverpool. The initial advance attracted readily absorbed and the loss regained. buying orders particularly for July. mak- ing the best prices of the day. Aside from professional selling the contracts s were ap. sIp against actual cotton. The Lnai quota tions were 30 points above the previous tures but bu.insss reported light rs sscouns It holiday in all Texas markets; The new crop months showed consideraple staensin h are predicting that both spots and futures
  continuing of the opinion that the pur, chase of October during weak periods VIII prove very profitable--S. k. stewart % So'
 HUBBARD'S LETTER
 NEW YORK. March 2.-Liverpool and Wall sstreet bought on the opening; while the south sold. During the first half hour an enormous amount of cotton was sold. hmt was absorbed readily by the market. Which proved very steady Liverpool was V good buyer, and 1t is reported that one broker bought 10000 July for Liverpool nsapance as the morning session pro rressed. putting May into new high ground .,. >, or.,.,.. if wil tend to prevent the market from easing off from this level at least ten, norarily. There is still continued bullish spot talk and talk of mills having grca deal of cotton still to buy. We are of the oninion that the advance has been entire " too rapid, and that some setback is bound to occur L any time now. Io- strong. while the other months were off from the high.-Hubbard Bros. & Co.