The Birmingham age-herald., 1923-03-13
Told by Priuate Wires
s. K. STEWART & CO.'S LETTER

BIRMINGHAM Ala, March 12.-Liver- pool came this morning about 10 points under due, with fairly good sales of 1000 bales an advance of points in their middling. Cables from Manches- ter stated business on a standstll, with reactionary feeling among traders. Our markets opened uncnsnged to l2 above Saturdays close, and ruled very quiet with small fluctuations during the entire session. Spots were generally 12 points down at New Orleans to l5 up at Hous- ton and Dallas, with a light day being re ported from most of the southern points. Trading in futures was light today. with main feature, particularly May and July. Spot people and Wall street were the best buyers. while Liverpool sold. It is sa i'd that Liverpool Is now 5000 bales short of May and July. close observer of cot ton facts, after touring the south. said those who expected big acreage in bor would be short. He also predicted much higher prices for the new crop months and had the courage of his con vlction by being one of the heaviest buy ere of October today. A wire from the Atlantics said there was no general de- mand from southern mills. but they have considerable to buy before new cotton is available. The Carolina basis was reported hardening and cotton offers at BOG to S0.75c seem to have been absorbed. While the sentiment among the trade is mixed. purchases on moderate reactions appear the best with trading in October the favor ite.-S. R. Stewart Co.,
 DOREMUS. DANIEL < CO.'S LETTER
 NEW YORK, March 1s.-Developments 8 over the weekend are of constructive character and should act as stimulant on the sluggish condition of the stock mar ket. The most important development in the foreign situation is the report that the steel barons in the Ruhr district are bringing great pressure to bear on tho government In Berlin to negotiate set tlement with France. This attitude on tn. part, of the Ruhr industrialtsts to proble-, ts all the more important in view of tho conference which takes place Tn Brussels tonay between Premiers Poin- care and Theunis.
 an-American, reported ready for an other melon cutting: the motors and the swing. the latter. due of course. to the strength and activity in the raw sugar market.
 Cotton.-The market has been only occurred immediately after our opening oail. There was somewhat liberal buying of the new crops on Friday end Saturday on the forecasts for unsettled weather in the cotton belt over the weekend. but over M most of the south. these purchase. weakening of octobe. and December. Un- less something new in the shape of news comes out In the meantime we are in- clined to expect a trading market for . while. At present no decided tendency is discernibe.
 Chicago Grain.-Interrupted wire serv- ice was handicap in transaotins business today. Neither the weather map nor the weekly visible supply could be completed, and trading also was restricted by lack of facilities. The selling in wheat early was based on precipitation over the winter wheat belt, but some of the drier areas complained that no moisture had fallen. Liverpool ruled higher on small world [ shipments, ono house reported liberal sales of Manitobas overnight. which un- was strong and some export business was an influence. There was . good demand In the cash market. with most of tho Doremus Daniel & Co.