The Birmingham age-herald., 1923-11-28
SHANNON 6 co. " YORK, Nov. 2T.-The oming holiday has no ( } some extent in today's
 the turnover has been
Cotton Letters
II. & B, BEER

NEW ORLEANS, La, Nov 2-Orgen- ized short time by Manchester mills using American cotton having been abandoned, British spinners voting to resume full time, was reflected in a further advance to new high levels far this season to- day.
 This development was offset to some ex- tent by private returns indicating crop somewhat larger than recent private fore casts.
 of 9,700, 900, of which 94 per cent has been picked vs. 96 per cent last year, and the abandoned acreage was placed at AS per cent, saying frost and rains put an end
 A prominent New York commission house estimated the crop at 9,625.00o bales. ly larger than other recent private fore casts, they point to smaller yield than was predicted by the government on No to a production of 10, 24s.0o0.
 Liverpool continues to be credited as a 'aTge buyer or spots m rae ne n here at a further advance or at the high- est price reached thus far this season. Large business Manchester. short time
 Voting to abandon short times. however, does not necessarily mean that sufficient business is in hand to warrant the re- sumption of full time by all Manchester mills consuming American cotton, nor does it prevent the English mills from con- tinuing the use of much of foreign growths Nevertheless the fact remains
 
 very bullish, the very high prices notwith- standing.
 On the other hand New York reports dry goods market there as only fairly active, but the tendency is to higher prices since further slight advances have been recorded.
 Of late the market has derived it's sup port from Liverpool and Manchester cable advices and from reports that English south. especially in Texas.
 Thursday November 20, being Thanks giving Day New Orleans and New York Cotton exchanges will be closed.
 HUBBARD BROS. < co.
 NEW YORK. Nov. 97.-Liverpool was rather to the surprise of the local traders until the receipt of cables from the Eng fish market to the effect that tho spinners federation had decided to go on full time in Manchester This is an important fac tor and very naturally brought our mar ket to the highest price of the season portant this season. as the weather has unfortunately decided the question of sup year The export demand in the past 10 weeks has been strong and has aided ma terially the spot situation, This Is natur- ally reflected in the New York market which is today at the highest price so far reached this season. In the meantime, the domestic business continues poor, but as yet the trade is of the opinion the cur taiment is not in sufficient volume to off set the improvement in the foreign mar
 
 Manchester is n less of a new fac tor, the general situation has really un- dergone no material change In the past week or 10 days,
 Liverpool futures are due tomorrow: De- cember. 2o.9od; January 2o'SSd.
 SHANNON & co.
 NEW YORK, Nov. 27.--The strength of cotton today has been due chiefly to more encoura ging news from goods centers in this country and the report that l.anca- shire is again going on full time. good demand for spots, particularly in Texas, and the easy manner in which December notices have been taken up has stimu- lated further buying from both trade and large new commitments have been made. due. probably to the approaching hoh- day. Sentiment has become even more bullsh due to the above features, but it can hardly be denied that the market has come into rather dangerous ground and caution in following advances at tho mo- ment appears advisable.
 KAHN BROS. AND VIRGIN
 NEW YORK. Nov. 27.--Strong cables and optimistic advices from Manchester new highs today. Liverpool a good buyer here and there was domestic trade buying of considerable volume. Specula- tive demand was moderate and somewhat professional. The contracts were sup piled largely by longs realizing. Adoption of full time in Lancanshirs and reports of much improved business in Manches- ter were the principle bullsh items of news. The south reported good spot de- mand and New England mills were said to be buying here.
 All the news. in fact. was bullish con tracts were scarce and while reactions are talked of there seems none of consequenee in sight. Liverpool bought on the close.
 Liverpool II a. m. bids: January 36. sod; March, s4.49d May, S5.7od; July, aO.o7d: December, 20.90d.
 Liverpool due November 2s: January.