The Birmingham age-herald., 1923-04-26
sTEWART's LETTER

BIRMINGHAM, April 25.-Quotations from Liverpool came over very encourag- ing this morning: futures were 10 to 20 points better than due, but sales were lighter at 5000 bales and spots were only 5 points higher. Cables from Manchester . fpeeiV ef vprns snd other cotton trto poods Our markets opened 25 to 35 points above Tuesdays close on the stronger cables. tor to 65 points further on buying of the best sort coupled with shorts covering freely. Tenders of only 7,600 bales May con tracts started the covering which forced the biggest advance in the near months. The finals were 55 to 90 points above the the May options. Spots were generally 75 up with quotations ranging from 27.5oc at Dallas to 2s.65c at Houston. Better points as well as Worth street. The buy ing in futures today was credited mostly to Wall street and large New York op- orator. Contracts were supplied by scat tered sellers, and no doubt included con- siderable proft-takins. Outside the gov moderately bullish on lateness, caused by wet grounds. there was no particular news Today's rise corrects the technical condi- tions to a considerable extent. but the sentiment among traders is that the long side on reactions is the best.-S. R. Stew art & Co,
 DOREMUs, DANIEL & co.
 A. A. Housman & Co.'S letter on stocks.
 NEW YORK, April 25.-Attempts fur ther to depress prices which were in evil selves when the supply of stocks grew smaller instead of larger. For the first time in days there was evidence of active support in Cosden, and this served to steady the whole oil list, together with the better tone of the Standard Oil stocks, American Can, Baldwin and steels snapped back after each selling attempt. Gov erins s became little more general and great confidence. and in our opinion with good indications of firm close.
 on grain, by private wire to Doremus.
 NEW ORLEANS. April 25.-The short today and wide advances attended the covering of the contracts. Rumors that were buying in a huge way, and one story that western bulls were selling them the contracts Taking profits on long cot report of 19-foot rise in the Trinity river in Texas. with consequent great damage. Extremely heavy and general rains in strength of the day. No May notices 5000. bales were rendered in New York. Notices there appeared to have been quickly stopped. southwestern spot inter ests doing much of the stopping. New Orleans spot house was said to have been a large buyer of spots in this market at oU points over a ten0erdDle DaSlS. LlVer- pool called spot people here, asking for firm offers. and Texas points wired in that exporters were meeting the best inquiry in months.
 James E. Bennett Co.'S letter on grain, by private wire to Doremus. Daniel & Co.,:
 CHICAGO. April 2b.-Wheat: The tone has been strong today. but the advances have been rather halting with enough sell ing at times to check the rallies. The strength in corn has been big factor. and the fact that Liverpool made further good gain also started some support Un- confirmed reports that the Ruhr and repa- rations questions had been settled caused some buying. However. the strength of the market Is not dependent entirely that phase of the situation. The north west reports indicate late seeding. Corn: This market has again been leader, and new high prices made for the July and September. The buying has been per sistent with some covering and reinstating of long lines by houses and individuals that for a week or more have been work ing on the selling side. The cash demand was good with sample prices e higher Doremus Daniel & c. Ust