The Birmingham age-herald., 1923-07-14
Ouer Priuate Wires
DOREMUS, DANIEL & co.


 New Orleans daily letter on cotton by private wire to Doremus, Daniel & Co.,.
 NEW ORLEANS. La., July 18.-Persis- tent talk of high temperatures in the western belt, along with claims of more or less insect damage, put the price of stock market was help to the long side In the late trading, but the dry and warm weather prevailing over the belt was the main buying argument of the session, al though conservative opinion was that the prospect than actually occurring
 A private bureau mid month report on condition placing the percentage at 71.2 per cent of normal 6S,3 per cent fortnight ago gain of 2.9 points, had weather overnight in the belt, caused slight declines around the opening, but values. through the use of the fear of drouthy conditions in the west.
 Points in south Texas commenced to wire in that cotton was beginning to move more freely and some southwestern spot firms claimed that the basis for August delivery was weaker. Locally , 1,046 bales of cotton were reported cer- tficated yesterday, bringing the certifi- cated stock here up to 6,031 bales making 1t appear like tenders later Continued hot weather would give the longs the ad- vantage, but showers in the west would cause a sharp break.
 New York Daily letter on stocks by pri- vate wire to Doremus, Daniel & Co.,:
 NEW YORK. N. Y. July 13.-The mar good news would almost sure to ] that the market has just started on its downward way has been spread rather widely n Smons ig the tS,n rank and file among in April or May. but who waited until prices had slipped down 10 or 16 points before taking action It is quite possible | that there may be more liquidation await ing a- broader and firmer market but 1t certainly seems to us as If there is fair sized rally at least. The present ac- tion of the list seems to point out a rally of serious kind next week.
 | DOREMUS. DANIEL 4 co. s. R. STEWART & co.
 BIRMINGHAM. Ala. July 13.-Liver- pool quotations came over disappointing | futures were quoted II to 15 points below due with light sales of 1000 bales and Cables from Manchester stated while busi- ness quiet trade sentiment good. Our higher than Thursday's close and failing to respond to the decline in Liverpool shorts began covering and finding offer ings scarce the market ruled firm dur Ing the entire session. In the last hour shorts again covered freely and forced prices to the highest of the day The | finals were 50 to 70 points higher on De- tober than the previous close, while the spot months failed to follow the advance ana made only Il lo-polHl gam TOT the day. Spots were quiet and quotations were generally unchanged to 3S points higher. Most of the buying in futures today was by tired shorts covering because of the recent steRdness of the market and pos abilities for a scare over Texas if that state does not get rain pretty soon. The map and details showed no rain of con- sequence anywhere; 22 stations in Texas and all in Oklahoma showed tempera- lures of 100 over yesterday. Dallas wired that the weevil was being elim- | mated and that far the plant not suffering for rain, also that farmers would sell freely above 20 cents. Spot | basis reported easier at some places. Miss Giles semi-monthly condition figures covering tomorrow for the weekend. espe- cially so If high temperatures continue l west.-S. R. Stewart Co.
 HUBBARD BROS. & co.
 NEW YORK, July )- Though Liverpool was, easier, our market failed to follow and on the opening there contracts. The continued dry weather in Texas is causing some uneasiness to shorts and just as long have rain in Texas in all probability we will have a steady and advancing market. The gen. eral sentiment still continues bearish on curtailment talk, but during the summer months this is to be expected. The mar good and advices from various quarters Indicated spot inquiries were more nu- merous and the basis was improving. Should the map indicate continued dry weather and high temperatures over the ] weekend for Texas, we may have some brisk short covering at tomorrows short session.-Hubbard Bros. & Co.