The Birmingham age-herald., 1923-12-22
Cotton Letters

 for about a week.
 Cotton Letters
 HUBBARD BROS. & co.
 NEW YORK, Dec. 21.-Cables were bet ter than due this morning and our market opened at an advance which was par ticularly sharp in December on the cover ing of some scattered unprotected short December contracts is Monday December 24, the contract expiring at 12 o'clock. noon that day. An excellent spot demand would appear that end of the year ship ments larger than was expected. This probably. reflects the putting forward of the period of bad weather. Liverpool ca bles that business is improving again in Manchester and the English market was good buyer here on the early advance. The holiday dullness reappeared after the first hour and scattered profit taking the market eased off slowly in the early afternoon. The undertone contiues strong and there is more disposition to pay at tention to the reports of good spot de- mand in southern markets.
 Liverpool futures are due tomorrow: January, 2o.25d; March. 2o.2Od.
 SHANNON & co.
 NEW YORK. Dec. 21.--Cables were firm, with continued bulish spot news offerings light and scattered. December was again relatively firm in spite of rendered on January will be promptly taken care of as the local stock is very desirable and of a sort that is getting hard to find in the south. Aside from the possible developments in December before that position is fully liquidated there appears no reason to expect any balance of the list will hardly sympa- thize at all fully in such a speciality as hot {@t. INAIx 1ar. in view of the reports of the amount to be fixed based on that month and the activity of October at this price and this terest felt in connection with the possible supply next year. Sales on sharp bulges who operate for the more distant future will have a better prospect of satisfactory results by making purchases on any mod
 KAHN BROS. & VIRGIN
 cotton market entered a the eG final stages of a typical holiday market today. Trad ing was light and prices Were easily in- buying selling. The tendency, however, was upward owing to the big advance at Der in New York and stimulating spot news. Ninety notices of December de- livery were issued in New York and few were issued here. They were taken up so quickly that a good sized covering movement followed and December sold 73 points net higher in New. York. Indica tions that December has been pretty well liquidated here but there is believed to be considerable hedged interest in that position in New York which will have to be bought in before noon Monday. Reports on the interior being secured for spots by houses who need them to fill to come in from various parts of the belt. The basis is advancing steadily and buy ha S sabes It so & ter demand for yarns at Manchester and more business doing in cloth. We expect of December and spot demand ought to sustain values if they do not advance them.
 NEW YORK, Dec. 21.-Russell News Bureau says: December "A is last trading day fr eut York will be worth 100 points less on De- cember 2e, which is first notice day on the value of the local stock Is worth as much as the extent of the short interest at the time of delivery M tS does not depreciate, as much as a cent a pound, but to settle short interest contracts When the December position is entirely liquidated. many expect the January position to show increased trade interests While the speculative shoTe interest appears to have been large ly eliminated. the extent of the trade
  to present gossip this short interest is very extensive. as the trade has carried large amount of cotton in the futures ! Advicss from the south continue bulIish in character. The strength of Liverpool the goods demand. London reports an im- provement in textile shares owing to bet ter business conditions in Manchester" s4'sac; rSGr March. s5.s7c; May. s5.4oo y, July, a4,5so; October. .ss.55c. Liverpool due De sssde Nay soe issse oetoSan oafsa 16.35c,-Fenner and Beane.
 H. B. BEER
 NEW ORLEANS. La. Dec. 21.-In- fluenced by better cables than due and persistent numerous advices from the in- for spots especially in Texas, the mar ket scored further advance today. less bullish, the movement to market be- ing larger than last year. while spinner theEs sse nssst hea s oMn sh new and next Monday being last notice day day being first notice day for January the immediate future of the market is
 Trading in December will expire at noon next Monday. after which the sit uation will likely be dominated by de- yelopments in the , spot der department, show much larger than they have been of late, values will probably advance. but no improvement of consequence in mar ket is likely unless demand for actual becomes more urgent.
 Cotton Is no longer an investment at present high levels and stocks at dis tributing points throughout the world are larger now than they were some time ago and if the market is to work higher the advance will probably have to come from a revival in the demand for spots.
 Analysis of worlds visible supply of American December 21: Liverpool stock, sos, 1000 against 4s7.o0O; Manchester, 47,- 999 against 37,oO0; Continental Europe 259, ,000 against 434,000; afloat from United States s622,000 against 444000; United States port stocks, 1,012,000 against 1.060,- 000;a United States interior stocks. 30 towns, 927,0o0 against 1,067,000; worlds visible of American. 3.166.00o against S,530, ,O00.
 During the past week tho south mar keted 362, 900 bales against 330.000. mak- ing the total since August 1. 7,s0s,000, against 7,701 900 and spinner takngs for week were only s41.oo0 against 395,oOo, making total since August l, b,4so.0oO against 6,082.000.
 Worlds visible of all kinds today; American. S,166.00O against 3.530. 900; other kinds, i,1so, ,Ooo against 1.4s5.O0o; ali kinds, 4,356.0O against 4,965,000.
 BUTTER MARKET
 CHICAGO. Dec. 21.-The toee of the