The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1923-06-09
DoREMUs. DANIEL. & co.

Chicago daily grain letter, by private
wire to Doremus. Daniel Co.;
CHICAGO. June S.-Wheat: The wheat
market after weak tone carly was given
considerable support. especially for tho
July. and prices hardened Commission
houses We're good buyers at times. and
there was back spreading between this
market and Winnipeg, which caused Ii
tightening of the July. The cash situa-
ton is unchanged There were no heavy
shipments Of wheat here from outside
Some Canadian wheat Is held here in
bond. The map shows heavy precipita-
ton in southern Kansas, Oklahoma and In
the Texas Panhandle. Northwest crop
news in main is favorable. Argentine
shipments were S,4S2,ooo bushels with TO-
662. 900 bushels from North America New
York cleared today $4,000 bushels wheat
domestic and 5ls, 900 Canadian. The mar
ket is in a two-sided condition, and IT is
to be assumed that export buying will in
crease on the dips. Prices are fairly
cheap. but the demand does not folio"
Corn; Sold off early only to rally later,
The country offerings proving small, while
primary receipts of $4,000 bushels, COM
pared with 1883, 900 bushels year ago.
argentine shipments 3.7s4,ooo for
the week. Weather mainly favorable for
were far from large, and there was no
prospect for any big movement This
most local reserves. The corn situation
is of great strength but at times tho
full features become stale. On the set
backs we believe purchases are war
ranted.
oats: There was considerable local buy
ing early, but cash interests sold quite
few oats and filled up the demand rather
easily Receipts were small at 81 cars.
Primary receipts were still smaller than
favorable in the main. shipping sales only
81, 900 bushels. Market is in trading po-
stion.
New Orleans Daily cotton letter. by pri-
vate wire e Doremus. Daniel & Co:
NEW ORLEANS June s.-Extremely
Df
In the consideration of what was thought
to be better weather over the belt. and
nosas by Germany and then, according TO
published eablegrams from Paris sending
note to Germany demanding that resist
snce to inter allied military control i'm
mediately cease. Except for a bulge of 10
points on July in the early trading. the
general trend of prices was lower.
Those who thought the weather was bet
ter were willing TO overlook the fact that
Texas remained dry in most sections. and
that further rains were scattered over sec
tons of the belt outside of Texas which
sive moisture. storm in the gulf was
regarded as favorable because it might
bring rains to Texas. but storm that
sweeps Texas generally sweeps other por-
tons of the belt well. Central and
eastern, well as northwest portions of
the cotton region need protracted spell
of dry weather.
The visible supply OF American cotton
lost this week lo42 s4 bales, and was re.
duced to i, zS4,3l0 ba!es. against Z.1SS,295
year ago. and 4.2a7105 two years ago.
BY the end of June the total visible
worlds supply Of American cotton will be
under a million bales. In view of this
we feel that operations the short side
are unwise, to say the least, and believe
that declines should be used TO make new
purchases on.
New York daily stock market letter, by
private wire to Dorenus. Daniel & Co:
NEW YORK, June s.-There no
change in the general character OF the
stock market today. The prevailing dull
ness seems to have been relieved by &C
tivty in the rail group.
on June IL the directors of the Ameri
can Smelling and Refining corporation
will meet, and II Is expected a dividend