The Birmingham age-herald., 1923-11-24

for December delivery in New York and moderate tenders are expected, as some cotton moved 10 this market for delivery on the recent advance.
 Liverpool futures are due tomorrow December, 2o.43d; January. 2o.42d.
 KAHN BROS. & VIRGIN
 NEW YORK, Nov. 2S.-The reactionary sentiment of yesterday was again appar- ent during the forenoon with the result cally selling for further down turn and hesitancy upon the. trade to take long mostly by the trade and prices rallied a little, then went over 35 cents for May on the report that the Bombay exchange cotton The steadiness of market around the 35-cent May level in the early after noon led some larger professional inter gether with covering by early sellers sent prizes into new high ground and re- actionary bulls were saying Whats the Ase" A large spot business was reported from the south.
 NEW ORLEANS, Nov 2s.-Cotton was easier during the first part of todays prehensioR over tenders tomorrow and Monday. There was also a good deal of selling for reaction but the worst values were only 24 points under the previous finals
 Bullish takings, repoft.d that Japanese had bought up all of India's stock and cease trading for future deliveries as result of corner, brought on wave Of buying that lifted prices 65 points from the low. The trade accepted the corner ing of India's supplies by Japanese as another evidence of shortage of world the possibilities of the effect of tenders dissipated most of the fears which has arisen and caused many who had s9ld
 As a matter of fact. nothing bearish has developed except talk and, the, eagerness the world indicates clearly that mills have not got enough to satisfy them Re actions are likely to continue temporary as long as the spot demand is so keen.- Fenner & Beane.
 S. K. STEWART & co.
 BIRMINGHAM, Ala, Nov 23.-Liver- pool quotations came over 14 English points better than due on distant months whole spot months were lower than que cline of 23 points in spot prices. Cables were somewhat reactionary in futures, put stated future, prospects brighter; @ ld,, 4fsr pur Thursdays close on the easier Liverpool and was depressed IS points further in the early trading ,. on general % pfpei' tpa trads sah At this level prices hung fire and the market ruled very quiet until around mid day, when short covering, coupled with fresh buying began, and started rally which pushed values into new season highs for some months and bringing the
  and at gain of 40 points. or s2 bale for the day Spots were active and quo tations generally followed the advance in futures Demand was reported good from many southern points. Sales of 47,OOO bales yesterday was the largest days ousl- ness reported during the season. Texas sold 32600 bales. Spot quotations range from 33.75c at Fort Worth to S4SOc at Gal vestion. Weekend figures were fairly builish mill takings 429,000 against 437,- SOo last year. Sentiment after the close had less reactionary expressions and from the appearance of the future market higher prices will be seen tomorrow
 H. B. BEER
 NEW ORLEANS, La, Nov. 23.1The re- checked today by the report that for ward trading on the Bombay, India, cotton exchange has been. prohibited owing 10 that market virtually being cornered as result of the Japanese having bought all
 Accordingly American markets re- snonded to the news by advancing sharp iy, for while the situation at Bombay is local and may be only temporary the m formation had bullish eftect on seh'l-
 The reported corner in the Bombay market probably applies to old crop cot. ton principally. as picking there ooes not commence until october, making NoVem- Der there. as is July in America, the end of the old season. From , now on reeelp,s ths movement of the crop in India gets under " American supply was less bullish this tives: Weeks in sight. 60s,O0 vs 4fSo;ooo weeks exports from United States; 6s,ooo vs 154,oOo; spinner takings TOT week 4sS,s s,,r. increased 540OO vs. 1s.0OO; worlds visible supply American increased SS,ooo vs.
 These features. however. were lost sight of in the excitement following the report that the Bombay slmarket was cornereu. i .'1
 This afternoon New York reported Lly- erpool. 'American mills and professionals ~ The worlds visible supply of all k.ads: ads Sinea Sil kinds dsnos aood.oOo S vs' 4,ss4oOo.
 notoe uomSrrSTi Say in New Orleans; New York next
 Liverpool closed much lower today, and the Esypta mafsee ihsss Markets were were aware of developments in Bombay will prooa- ply be reflected in the course or thelr Va,ues Mes rwbiie ySlf1'~ conservative brokers in America continue to advise realizing on long contracts especially on bulges'
 SHANNON & co.
 NEW YORK, Nov. 23--It is passing dit- ficult to draw any ensouragemshI1 1bst ,o iepe re given out which continue to show mat the price has not yet reached point mat will force any isrse ston gon''li is sti painfully siow ssss ' There % is increasing taliae eof reduced time by mills, but spot demand m soaIh- ern markets is reported good. especially for export account. Reactionary senti- ment makes it's appearance rom time 10 lime based on expectation that price fix ing will run out presently and the belief thet some fresh powerful stimulant will sa raa,,irsd to persuade speculative inter- ests to follow any further advance. De- clines, however, do not go far befoye the supply of contracts begins 10. shrink and even a scattered and moderate demand serves to steady prices and bring about a A fairly large number or notices is evnected on Monday and may tempora- rilv cause a loss ip the December pre- miur1. but any good merchantable cotton will find a resting place without much delay