The Birmingham age-herald., 1923-12-19

for May the demand improved and work ed up. News of good spot demand from various points and cable reporting Frost in India brought in additional buying orders around noon, causing rally which totaled 20 points from the low, rrhe market was not very broad at any time and there was less business than the range of quotations seemed to indicate. Memphis and Dallas were reported large ishness of crop situation Is reflected in buying orders that come in on the sharp ps run away ava bull ,iif market immediately, mn pur- chases on reactions look the best Lover pool Il a. m bids Jar JanuaTy; 11;g, 9S;sse' s9sc Liverpool due December 19: January. 1s.54sc; March, 19.61c; May. 1s.5sc; July, 19.15c.
 SHANNON & co.
 NEW YORK, Dec. 1s.-Although ir- in the early trading resulting from ad- vices of fresh curtailment by various east ern mills. the market turned stronger on from southern markets, showing all of ferings quickly absorbed at constant ly stiffening basis and an active in quiry from all quarters with little for sale. Some assert much is being held for higher prices in the interior, but that hardly agrees with statements so plenti- ful recently that producers were thor oughly satisfied with these prices and them. Other advices are that the supply is rapidly nearing exhaustion, which looks probable though some cotton is doubt and always will be by those who never yet saw the price as high as they think 1t should be and probably never will. A survey of the supply situation shows that it is already acute with every reason to anticipate still tighter pinch before the happen If the predicted renewal in de- mand fog goods arrives after the holidays may psfhaps be left to individual inasi- into any decline of importance. The market grows daily more sensitive and slight excess of orders on either side pro- duces fluctuations out of all proportion to the volume of the actual business done.
 H. & E. Beer
 market opened 20 to 30 points lower this morning, while New York was 30 to 40 points lower.
 Evidently the late covering rush yester- day has carried too far temporarily, how ever, the easiness with which the advance side and buying was good in the opening dip.
 Nearly 10000 new tenders at New York and certificated stock increased to 7s.oO0 were reported. Action by December and January will be closely watched as it will be a very deciding factor in the near flu ture of the market and any strength in either of them would cause a general ad- vance in view that bullish interests will control the issue On the other hand any selling.
 The market is very sensitive as indi- cated by the easiness in the early session in belief that the small short interest is Thursday but the general sentiment seems bullish was evidenced by yesterdays sharp advance near the close.
 News from Fall River that an addi- tional 750,000 spindles will be idle in the week from December II forward, this in- eludes the cotton mills of the American hand the Amoskeag mills report in creasing working force to total of 12,5oo. likely to prove. very serious as foreign crops now promise less than last year.
 News also, came today that meeting advise some means to curb speculation in the Liverpool cotton exchange.
 strength during the forenoon, but eau ton should be used the market is likely. to be easily influenced by events overnight, especially we are approach ing the Christmas holidays.
 HUBBARD BROS & co. | NEW YORK, Dec. 1S-Liverpool was about as due this morning and the market here was somewhat easier at the opening, although no liquidation of moment ap- 1 peared. There is reported a better de mand for spots in the market in the early afternoon, advancing prices above S5e for March. Business was not active, but there was supply of contracts for sale when buying orders appeared.
 The exports to date are very heavy and 1t would there was at least possi- biity that we had over exported ourselves out of the small crop of comparativeiy low grades. The market displays a. hoi- day appearance. but the undertone is sur, prisingly steady. The National Ginners association estimated the amount of cot ton ginned to December Is as. 9,12ssoO bales. While this report was slightly larger than the trade had expected, 1t was | near enough in line not to have any real influence on price.
 Liverpool futures are due tomorrow; January 1954d; March, 19.s2d. LIVE STOCK
 NASHVILLE renu.. Dec, 1S.-Cattle: :