The Birmingham age-herald., 1923-11-22
Cotton Letters
KAHN BROs. 6 VIRGIN

KAHN hHOS. &
 NEW YORK Nov. 21.--The government ginning was 100000 bales more than ex- pected but at that was regarded potn py the trade and speculation as very Duiiisn. sn Buying orders came in an increasing vol ume during the morning and again In the England had agreed at Paris and also on reports of biggest spot business or the season at Memphis; Contracts were scarce from longs taking profits. The nulk or the buying looked to be for domestic sst ana ana foreign interests, whle other traoiHs was largely professional. - pSron s.ga. @ SS; Nay ~s5s 5slco y st.sOc:: ssts.ssOOe: ssm Dsosmbsr. s51sa Liverpool due November. Ss: January. 2o.41e; March. iossS Msy sss p.eem6er sSe99 '9S sSssa
 NEW ORLEANS, November s1-Thirty- five cents and better became . reality on the boards of both American markets to- day as cotton sold above that price dur iowed IoS d" ths census report on ginnings and cables saying the allies have reached an agreement over Germany. <. . ,. not not sufficiently 50 as to upset small crop ideas Good spot news and cables saying stocks of cloth at Manchester are becom- ing depleted rapidly as result of the A number of English mills announced closing curtailment and the dry goods markets were % not very enoopTasing hI,ta sut put demands and higher prices
 There was free realizing around tho S5- colt level hero, but the passing European crisis brought new buyers in the market.
 Ginnlpgs of only s.ssS,ooO compared viii iII have to increase greatly from now on to even equal last years total of 5000: There were, however, So3 600 bales ginned Such an increase as this points to pos sibility of further gains this month and The outlook has improved much result of the passing of the European Is likely to keep values on the upgrade for some time.
 6. R. STEWART & co.
 BIRMINGHAM. Ala, Nov. 21.--Liver pool quotations came over 15 English points better than due with sood sales of spot prices. Mapchester cables Continued bullish on cotton and feeling op- s'.,G Ssss opened 10 ' to is points points higher than Tuesdays close and was depressed
 sn 9n the iseo sas: snps mors of San pected, but after these figures were di- rested both the trade and speculation in increasing voiums during the morn ing and again in the afternoon on re- port that France and England had agreed at Paris and also on reports of the big gest spot business of the season at Mem phis. Contracts were scarce all day and those that were supplied came from longs taking profits. The. bulk of the buying trade interests. while other trading was largely professional. The finals were 50 were active and quotations generally 50 higher. prices ranging from 33.7oc at Dal- mand reported at New Orleans. Memphis ming. figures compared with 7.5s4 'ooo fast st b.ma aaa ssanst ysa giving As s.7ol.1ss against s.se1,544. Future prices or So higher than the present level is ia reactions on technical grounds
 SHANNON & co.
 sightly above expectations, but still so Estimates of the crop s and t is tne pointed i1We5 out that if ginnings for the balance of s.soo,ooo Mills still complain loudly of inability to secure business on a satsfacT curtailment. That will be compulsory even if not voluptarily adopted if con year which is abeut what it will have to lose With supply so limited as that in prospecs, tSs, rsrd,s fvats adyices; however as will use l5 to 20 per cent more than last year, and it is generally felt that do for the better after the turn of the year. There are rumors that considerable cot cember, but with conditions al they prom ise to develop it looks that 1t will be readily taken care or. though heavy ten- ders on the first notice day might weaken that position temporarily
 The undertone of the market remains surprisingly strong and though there must be breaking point somewhere no one seems confident where 1t will be found.
 IT. & E. BEER
 NEW ORLEANS, Nov. 21.--The market scored another important advance today in the face of ginnings to November IA being larger than expected by 78,000 bales. Bulls took their .'cue" from the fact that notwithstanding ginnngs to the 14th being larger than estimated. the out put of the gins to November 14 was bo2.ooo less than corresponding date last s,72s,0oo.
 Sentiment was also favora bly, influenced by the more optimistic view entertained of the European political situation and by press report that negotiations are under way by American, British and Dutch financiers. to extend Germany a credit of 1.<00. 00o. 900 gold marks
 It Is possible the market may work higher, but since prices are very high all ready, especially for this early period of the season. and the fact that 35 cents has become a reality soon we think this is golden opportunity to realize profits on long contracts, and a favorable opportunity for the farmers, those whom have not sold yet 'o ~tsnose of their cot