The Birmingham age-herald., 1923-11-23
IT. & R.. REER


 coveted goai For the @ present 0G s5q, having having lnaterlallzed, there was more disposition to realize on long cotton than to enter into new commitments at the prevailing high prices, consequently the market ruled The political and economic news from Germany was depressing feature, fac sulting in hundreds lives being lost and much footing owing to the scarcity and very-high price of food.
 quiet and indifferent to the recent big advance in the value of raw cotton and New England reported several mills cur
 There was some liquidation in Decem- Der influenced by next. Saturday being market. in New York next Monday
 ,,,ls,. Exports are running lighter but are o9 likely agd to Of peN up Rext week as result
 Compared with last season exports from United states today were 10000 vs. 14,ooo; ; season 2,1S3,000 vs. 1921, ,00O.
 Conservative people continue advise eau ton in following the advance further for the present, particularly as to evertrad- ing, for while values may be higher eventually there will be much to reckon with in the near future.
 December traders, trade advices German situation and English election will be fea- lures to come to the surface. which is advocating protection, would be looked upon as unfavorabe by the conservatives and business interests.
 Liverpool eabled this morning that there was more hedge selling today. This after noon it is reported that there is much hedge selling in American markets and large traders in New York were reported heavy sellers there all of which bronght about the late decline today.
 A feature of the session was falling orr Of outside and local support, the high prices checking the desire to buy freely for. the present.
 KAHN BROS. & VIRGIN
 NEW ORLEANS, La., Nov. 22.-A good many traders were in liqudatng mood today and cotton ruled easier and lower largely as result of this. Towards mid afternoon they tried to take advantage of this situation to play for reaction. They time but cotton was wanted on the break. and the market rallied sharply in few minutes time. The near approaches of Saturday and in New York Monday and unfavorable reports from some big marine exports and closing of additional mills at Fall River were the unsettling influences. Later in the day the insurance underwrit- CTS explained that their insurance cov- cred shipments into Germany.
 The eagerness with which cotton was bought on the dip is a pretty good indi- cation of prevailing sentiment. and 1t looks like those who have the courage to play for reactions are having an exceedingly hard time trying to keep it down. We rather expect further liquidation between now and the first tenders and possibly for any material reaction. owing to the disposition of so many to buy on dips.
 NEW YORK, Nov 22.-New highs on the opening because of strong cables inn mediately met heavy realizing and re- actionary sentiment set in that has caused ' a setback of 50 points to this writing. There was no reason for this change in | feeling except the high price and the idea that it would be wise to take profits with the expectation of replacing lower The news for the day was no less bullish than 1 it has been, so the decline may be re- garded wholely technical. large spot business was reported from several points in the south with the basis hardening. Europeon news was better and both Liver pool and the continent said to be l buying spots in New York. With demand for the actual keen declin in futures would soon seem to be only temporary.
 Liverpool II a. m. bids were: January,