The Birmingham age-herald., 1923-03-17
Told by Priuate Wires
HUBBARD's LETTER

NEW YORK, March 16-( Especial: )-Liv- erpool was slightly lower than ood que Ia tnis There was some liquidation on our open, ing and shortly after there was some Wal street buying on July whden ndsn put am Ihe River sales reported to be lbo0oO pieces with advance in price in some styies' Liverpool cabled that there was more busl- ness In yarns with prices firm, while rom the south we received telegrams saying that preparations for the crop were re. re, tarded by the continuous rains over the Atlantics.
 Although there was no rain in TeXa, esas possible further showers. This caused the new crop months to remain very steady.
 We might say the market is very ish- guid with a tendency to be easier tempo rarily.-Hubbard Bros. & Co.
 sTEwART's LETTER
 BIRMINGHAM. March 16.,.Quotatiohs from Liverpool were slightly higher than decline of F points in their middlings. Manchester remained quiet with reac- tonsry feeling % the poin,s dTsae bisber than the previous close. and ruled quiet narrow fluctuations during most of the tendency. The finals averaged about un- changed from last night. Spots were gen erally unchanged With no reports TSo ot ss 1es no particular cotton news outside or bad weather. which had it's effect in strength, ening the crop months. Week-enu ports were bullish, which totaled 9S,00o. for the week and brought them up to witnln a rather uninteresting session in cotton to- day. much of the trade @ was % scattered: ,,s,l;S: the morning was accredited to professional New York operators and was apparently acter. Spot people were buyers of May against sales of July. but, one of the southwestern houses was said to pc heavy weather was bad in the central and east ern sections. Sentiment among traders velopments or incentive. With indications of continued bad weather. we prefer the purchases of october on any reaction.-s. R. Stewart X Co.
 DOREMUs, DANIEL X co.
 crease In volume the list meets profit taking by those who accumulated stocks on breaks The result is sha. tIi gsns aftrr are general realizing sales stop the line Of feast resistance Is again upward; The rails continue to disappoint those looking for quick profits but there Is a steady ac cumulation of the rails on deciineA
 after He the eary break of more bullish than expected. and when selling about. 16 to IS points above last for sale upon that advance and has been steady during the session at slightly aoove tureiess and upon a limited scale. but the undertone seems good and no serious set back from present levels is expected at the moment. Weekend figures are rather emore bullish than expected, and when such occurred should not cause sur is taken care of resumption of the ad- vance is confidently expected. At these prices however, wide fluctuations aio likely to come at unexpected moments anu usch occurrence should not cause sur prise. Cotton opinions:
 Munds & Winsow: Liquidation of May is causing temporary unsettlement, but we do not believe this will act as d prolonged check to the upward tendency.
 Hicks & Williams company: With tho statistical position strong, we continue to advise purchases on breaks.
 S. M. Weld: We do not believe that tho decline of late yesterday will extend much, if any further, and advise purchases at around last nights closing prices.
 H. Hentz x Co.,: We think on any fui- ther recession market is a purchase.
 Chicago grain: Wheat closed tonight with May Pc and deferred months 1su higher than last night with final prices at the high point of the day. A broad re- vival In export demand overnight, with sales of from 2,O00, 900 to 3.000. .000 bushels in all positions brought enlarged buying of futures, and after higher start the mar ket rapidly moveN upwards. Liverpool opened h to F higher and closed 4 high CT. Seaboard advices indicate that all overnight offers of wheat were accepted. In addition there was very good cash demand, with local prices 1hc to 1s.c higher. Primary run was fair. but south western receipts exceedingly tght.-Dore- mus, Daniel & Co.