The Birmingham age-herald., 1923-11-17
H. &R B. BEER,s COTTON 1ErrER

or more. and after the substantial rise should expect a less active period.
 Sales. S45,90o.
 H. B. BEERS COTTON LETTER
 NEW ORLEANS. Nov. 1s.-Ths trend of values continued upward today under as to ginnings to November 14 and as to probable size of this years crop
 point to about s,260,00o bales as having been ginned to 14th. against s,s7O, ,oo6 corresponding. date last year, and the as about 9,330, 900 bales, which was smaller than the smallest of forecasts recently re- leased by other private authorities and forecast for a production of 1o PAS, ,00O
 Liverpool cabled the market excited 0wns cabe sseea more business, doing in Manchester today than in
 The interior east and west of the Ms sissippi river reported a better. demand for the. staplekat higher prices, Liverpool especially being credited as large buyer
 Statistics arc bullish, more so than they have been for years, but prices now are the year, nsar the coveted goal of 35 cents in the south and above the 4e-cent level in Liverpool, and while the market may work higher 1t is dangerously bulllsh. Brokers, therefore. are advising extkeme caution on that account and because of the chaotic conditions in Europe, espe- statistics follow (this season vs last): Marhsted sf1 aod during past week: 5l4;ooo vs. week, SSs,ooo vs. g. 2sl.oeo; From from 15afesi United 900. spinner takings, week. 42s.oO0 vs. s4s;;ooo; {; oo, since August l. s,4s5.ooo vs. stocks today. S24.0o0 vs. 1.1s3.000; worlds visible supply American today, 2,867oOo
 Galveston wired all available cargo room for Liverpool booked to December 1; for Trt Japan a a booked to January l. izing near close.
 CHICAGO. Nov. l6.Nsentiment was 'ex ceedingly and very generally bearish. It was believed that there.4was every proba- hility that prices would fall to new low levels This sentiment rather than the days news dominated market through. The opening was lower and irregular tone seemed bullish rather than bearish. The seaboard reported better export demand porter called attention that Norway had been buying Manitoba wheat notwith- ported to have contracted with Russia for her requirements. It seems that with sen timent so unanimously bearish as to sug- strong possibility of strong political in fluenco at Washington. that the buyer of wheat .d, futures at present leyel has decided quite colorless; local cash half to cent lower. With, lard commanding fancy develop g firmer tone shortly and encour- age heavier feeding operations.
 KAHN BROS. & VIRGIN COTTON
 NEW YORK, Oct. l6.-The National Ginners' crop estimate of s.32o,o0O bales erpool showing the greatest advance That the rise here was less than that of the English market was due. to heavy realiz- and new longs It was said that western interests who bought heavily on the Ma tional nsnf1t. Ginners' ads report yesterday took who bought. this morning sold out at the afternoons best prices. Taylor's crop esti- mate was a surprise to the great majority regarded as probably too high by several well posted people in the south Heavy charged to a prominent New orleans pro fessional and there. was also some heavy selling because stocks were, weak. Ex ment on the market is that there Is no telling how high cotton will sell.
 ose nSacb s4a5c % bas Msv S3, S5c: December. S4.47c.
 20 afG %aoS due Ssg F 19.o2d; December. 2ol4d.
 NEW ORLEANS. La, Nov. 1s.--Another buying wave swept over the cotton market today and lifted active positions about S5 points to well above the 34c level. A re- duction of 60o,000 bales in it's estimate by one of the private reporting bureaus. of rsd snnngs of 7l4oqo for the Bullish adyices from Manchester and Liverpool, better, spot news, large spin the buying. One of the private bureaus which predicted a crop of 9.92S.oo0 lit tie over two weeks ago now says 1t will prediction is for S,26S,o vs. S,S7O, GOO last year.s
 The conservative element considers that today's estimate is ridiculousy low and fully half million bales too small T
 The critical conditions abroad poss- bilty of a break between England and France and expectation that France will move her troops further into Germany by the end of the week tended to temper the enthusiasm of some bulls and proba- ply induced most of the late profit
 The public seems to be so imbue9 with ideas of q small crop and large demand that it is paying very little attention to outside develo pments and continues to ac- cept reactions as opportunities to buy cotton. Reactions are, therefore. likely to to change this.
 Liverpool II a. m, bids were; January. | 33.s5c; March, 34.14c; May. 14.o6c; July, | 33.5sc; December 33s6c.-
 Liverpool Due November r: January, 1 2o.o7d; March. 1s.s7d; May, 1s.56d; July, 19o4d; December, 20.lsd. KAHN BROS. & VIRGIN STOCK NEW YORK;, Nov.a 1s.-The feature of trading today was Davison Chemical, ! which opened up 2 points and advanced to 6S on publication of news items that an important contract had been entered into with the Vacuum Oil company. The bal anceA of the list developed a lazy dispo- sition and there was considerable selling on slight bulges. Whether this was due to natural profit taking or apprehension regarding conditions abroad could not be determined, but no doubt the foreign situ- auon had depressing influence. A
 Industrial leaders suffered the greatest declines aud at the same time the upward move in the rails was checked despite the continued record car loadings
 Baldwin Locomotive was the strongest