The Birmingham age-herald., 1923-06-07
DOREMUs, DANIEL & co.

Doremus Daniel & Co.,.
 NEW YORK, June 6.-The stock market responded quite well today to the an, nouncement of Pere Marquette common dividend at rate Of s4. rms n mas o oeeS nS the very few constructive expectations in the railroad group that have actuaiiy come ,.p eG strength. American Shelters common moved up in expectation of diyidend pros seS, Stock as assert the rate will be s. There was more interest than usual Tn the tMOItn M coming German reparntions offer mere mere also IS wider belief than usual or some actual accomplishment in that direction, We think it is bullsh factor of consld l. crab potential importance and worth watching.
 Daily grain letter. by private wire to
 CHICAGO, June 6.-Wheat; The mar ket developed considerable strength in the late trade This due to reports or a better export demand Tor wheat ana on reports ot rust in Kansas in sections where there has been too much rain. me export port portions, but the trade today was Of mod crate proportions. Buying of July today reflected a little better foreign inquiry. The cash demand here was only fair The shipping sales were light. There was a decrease of 6, 221, 900 in the worlds avail able. Winnipeg July wheat was strong. reflecting d better export inquiry for Ca nadian wheat. The prospects are Tor more M rams in the southwest and this Is causing apprehenslon in some quarters. Foreign political conditions are regarded as llttle
  nfon demand for ous wheat 1t would change the aspect of the market ma terisuly. ~
 Corn has shown less snap today and there has been considerable profit taking. The shipping demand has been broad enough to keep the market tight in the sample crowd.
 Daily cotton letter by private wire to Doremus, Daniel X Co.,.
 NEW ORLEANS, June 6.-The strength of the market today surprised even us s nants mar 5 of the old crop. It is beginning to be discovered that EuroPean 1a,isi iny in sup plies for A. long tme will have hard work getting over the next four to five months, provide for their wants is causing much excitement in the spot department. Liver pool sold another 10, 900 bales on the spot, and on this side of the water central Flu rope was said to be cleaning up everythins in sight July shorts covered on the ru, nor that . good portion of the New fork stock had been sold to central Europe and shortly would be shipped out. July led at
 Dallas wired that buyers were sweep, ing the market of all grades, staples ana shipments and that spot & Imn,nw tIs weTs nations s of the earth. Some firms here received much better accounts from Fall River. ana New York wired that summer tempera- = lures were at last beginning 10 stimulate the demand at retail for eoti9n goods Go
 $. R. STEWART < co.
 BIRMINGHAM, Ala, June 6.-Quota- tions from Liverpool came over 5 to points lower thaa due, but sales continued large at 10000 bales. Cables stated very large buying trade there. Spinners ana Merchants heavily short of actual cotton, our markets opened slightly better than yesterdays close on average and re- mained dull and almost featureless untli after the third hour, when wave of buy ing struck it, forcing prices up 40 to bo points and to gain of b0 to 50 points for the day. Spots were generally quiet and quoted 25 to 46 points up, prices ranging from 27.55c at Fort Worth to 2S.63c at Augusta. Spots in the Carolinas were reported quiet, but not pressing for sale. The demand for futures appeared to be scattered and in moderate sized lots, but it apparently caught the ring crowd short and ran into many stop orders. One of the big southwestern spot houses sold July on the bulge. Selling of October probably mostly profit taking, but there was not enough of 1t to supply the demand. There was nothing in the news to account for the sudden spurt in the expected. but the forecast for show CTS all over the belt. The sovernment's s weekly summary read rather favorable, but the detail by states was not good ex- cept Texas and the present outlook is disappointing More curtajlment was re- ported probable in southern mills, but bulls argue the cause of this inability to get usuable cotton. Sentiment remains mixed, but sales nf October on such bulges as occurred today look the best.