The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1923-04-21
DoREMUs. DANIEL & co.

A. A. Housman 4 Cos letter on stocks,
by private wire to poremus Daniel & Co.
NEW YORK, April so.-Public conf
dence in the market has not recovered and
outside buying power is scant The state
lnent of Jesse Liyermore, in which he stat
" ns @ ana so hoGnas
contained obvious truisms. but it is IN
doubtsdly truthful that tn. sftement,
prominent source, FASTENED to- increase
uncertainty, and also to encourage profess
sional operators who have been working
to bring general decline. statistica lily
there is little evidence OF initiation, but
warnings to business continue to come
from various responsible sources, and these
are not helping constructive market senti-
rnent. The short interest in the Fan
trn,fai, stocks undoubtedly is Of ex.
Idea that there may be fairly substantial
sleeping short interest in the rails.
Roscoe lockwood & Co.'S daily cotton
letter. by private wire to Doremus. Daniei
g. Co:
NEW ORLEANS, April 2o.-Early firm
ness o the further unfavora BILE weather in
the interior and prospects OF more to come
was lost soon after the issuance OF the
governments figures on intended acreage.
In the early afternoon pressure was great
est, and much of it was due to unfavor-
able sober second thoughts concerning the
governments sudden move yesterday
against the sugar market. May was the
weakest month, indicating that Important
liquidation of May contracts was under
way. New crops gave ground grudgingly.
According to the department OF aEricul-
t tu,re reports received by it during the
iirst 10 days in April indicated the inten-
ton in the south to plant an acreage I'M
der cotton this season IL per cent larger
man the area of last year. This II per
cent increase applied TO the preliminary
acreage figures of last year, final revised
figures. not having yet been issud would
ing all records. This message from New
York seemed to describe the temper OF the
market at the time when pressure was
greatest.
James L. Bennett & Co.'S letter on grain
by private wire to Doremus, Daniel & Co..
CHICAGO. April 2o.-Wheat: The mar
ket sold off early on rains in the west and
southwest. rallied and then sold off again
on the Kansas state report and the bear
ish Indian news. The state Kansas report
makes condition IS against the govern
ments estimate of 81. as of April /. An
other bearish feature was the Indian re-
1903 miilion year ago and e51.000,o00 n
year previous Local longs sold out on thu
break and there was not much new buy.
ing except to cover shorts and restin.,
orders The government report estima ting
the prospective spring wheat acreage al,
"a. 8 per cent of a year ago was not re-
garded as important. but was not consd-
cred especially bulish in view OF private
estimates of acreage reduction. Rains were
some sections reported the precipitat ion
too light TO be much of factor. Corn.
The break in wheat and lack of supporting
orders with some liquidation in the mar
ket caused setback in corn after the
market had shown relatively firm tone
most of the session. The cash demand was
fair, with sales OF 1000. Country sales
were light and reports from the west and
southwest suggest continued brisk de-
mand with feeders In various sections pay
ing above Chicago basis for corn. Argen-
tine shipments were comparatively light.
Oats: Undertone easy with selling scat
tered but heavy in aggregate on the drop
In other grains. Cash demand Indifferent
with sales OF 10000 bushels. Country Of
ferings moderate. Commission houses mod
crate buyers on the dips. Provisions:
News bearish but market not much
hanged. Receipts OF hogs. % 900, with
western receipts 90. 600 VS.. 60 600 a year
ago. Market steady with top IS. 50. I.iv-
erpoo lard prices lower.-Doremus. Daniel
4 Co: