The Birmingham age-herald., 1923-03-28

cotton situation in the south. where tho basis has improved eonsiderabiy In the of stopping the liquidation. We would not be at all surprised to see substantial in Liverpool are due tomorrow: May 14.75d, July 14.6sd.-Hubbard Bros. & Co.
 s. R. sTEWART's LETTER
 BIRMINGHAM. March 27.--Liverpooi came over surprisingly strong this morn ing. futures being about 25 English points better than ,, due with better sl sales of .r toGo middlings. Cables from Manchester con tinued poor but stated reaction was was markets opened 30 to 5o points above Mondays close on the improvement at Liverpool and trade buying believing the ket ruled steady but less activest than yes terday, and advanced 50 points further on short covering most of fn which th. t9Sk piaos tho day on an average of SO points ad- vance. Spot quotations followed the ad- ss5oc to soc. There was no improvement in demand reported. but Savannah wired cotton could not be bought In that sec heavy rains which are seriously delaying crop preparations. The technical situation of the market was regarded az extremely favorable to an advance, and 1t would not be surprising If prices work up consider ably tomorrow and Thursday on profes. asy hoasyss HSyns sves n tor
 DoREMUs. DANIEL | co.
 FollowinE received from A. A.. Hous. to Doremua, Daniel & Co.,:
 .Inss Tone today much firnsr and market .et that federal issn reserve M s board d would " issue . formal statement at o'clock. One of the best of stocks in the last few days in a manner to suggest the Incoming of a good sized short interest. We think that on any further encouragcment at all stock in the caution sons. but today pressure was much less pronounced than yesterday. largely upon develo pments at federal re- serve conference. and we are unable to make predictions in this direction. In our opinion the underlying upward trend. how ever remains unchanged.
 Following received from A: A. Hcusman 6orsmu. co, Nfpy pysni.i xGrx ever private wire to
 Our market failed to make . full re- sponse to Liverpoors strength today. The local pes.imism. has declinsd of late more rapidly than the American market. The wider advance in Liverpool tends for a the. two markets more nearly back to their normal parity. Renewed liquidation in the future. market today has been well pearsnce than 1t has had for several ses- sions. The fundamentals back of the cot we look for an early resumption of buying.
 Following received from J. E. Bennett & Co.,, Chicago. over Dorsnus, Daniel & Co.'S private wire;
 Wheat: The reported buying against was one factor in stiffening wheat prices a little today. Moreover, there was more or less concern over tho dry weather and high winds in the southwest, and because of the late seeding season in tho north west. Cables were firm for the current month and . little lower, for the deferred deliveries. Primary receipts were about the same as a year ago. but tho northwe run is showing 2 considerable faliing off, and mills were good buyers of cash wheat of- ferings at Minneapolis. Tn regard to the northwest situation 1t Ia claimed that the usual, while the remaining sowing sea scarce. Corn: Comparatively firm with the reported good buying of corn for ex- port the past few days . factor. Othsr bull influences were the light country sales moderate receipts and Nc. higher board reported a sood export demand. Ar- genuine reports confirm the claims of se- rIous damage to the crop in the north. The feeding demand for our corn Is goIng to be heavy. and general; there is un. doubtedly going to be continued good ex- port trade, while totsi stocks arc veil Under these conditions we do not regard corn as too high, and would think the stt- uation called for break purchases. Oats: Reports from the southwest indicate but little serious damage to the crop of winter oats from the extremely low tempera- fair here and the primary receipts keep up extremely large. This tnds to mod fly builish sentiment. Provisions: Trade of moderate proportions The selling of big