The Birmingham age-herald., 1923-04-20
DoREMus. DANIEL X co.

A. A. Housman < COS letter on stocks.
 by private wire 10 Doremus. Daniel x O.: NEW YORK. April 19.-The tone Of the market makes us believe in immediate higher prices. On the small setback which occurred after the announeement or the government petition 10 restrain the SugaI exchange. stocks became very dull but no concerted selling pressure appeared. Among the oils Marland and Phillips Pc troleum gave the most encouragement to those who believe that the petroleum
 shares will recover from the recent de cline. We think that 1t would take very little encouragement to advance Amerieah Gan, Studebaker and American Woeien
 Roscoe Rockwood X Co daily cotton letter. by private wire to poremus, Daniel
 NEW ORLEANS, April le.-Better , weather over the belt and the govern fee and Sugar exchange We're the doml- mating features in the cotton market to the close. The weather was the man thing in the early trading, but from the middle session on the government acilph against the sugar market seemed to cause most of the selling, many traders reason ing that il was wet blanket on @ pun opera tions in May and July cotton the was heightened by late messages rom New
 York claiming that considerable cotton headed toward that market 10 go against May contracts. For the tifst tune in days the weather map was dry Tn practically all sections of the belt temper atures remaining too low in many sec tions but the forecast called for con tinred dry weather with some warming up in temperatures. During the day more optimistic messages concerning the pro gross of planting were received rom Louisiana. Arkansas and some portions or Texas. Az the market closed loudyi sen, timent was less favOrably disposed toWaru the old crops than for some tine put this may only serve to create more inter is anything but bearish. Points in the eastern belt were wiring in today the mt. grafton of abor still. continued, and would increase with warm weather cohtIohtlns planters with the most serious problem they have ever known. After wide declines purchases of the new crops seem Tn ordef'
 James E. Bennett X Co.'S grain letter
 by private wire to Doremus, Daniel Co:
 CHICAGO. April 19-Wheat: The news has been extremely buiiish rom the west high winds adding to the troubles ,ot wheat raisers There are no prospects Tor rains evidently. and the wheat m Ne. braska eastern kansas ana some other sections is gong back. However the buy- ing response was far from encouraging to the holders of futures Good weather Tn the northwest and in Canada caused some selling. There good demand for Manitoba wheat for export and some Durum wheat was also taken. There were reports from Michigan indicating much smaller crop than last year. and many Ne brasks reports indicating one-thlra to one half a crop. local house estimates crop of 64 Io00,O 900 winter wheat with l5,2 per cent abandoned acreage Northwest adyices suggest q smallersacreage with more barley and flax being planted. while the scarcity of help may limit the acre age of all crops. We believe he situation is bultsh and that prices will work higher eventually. Late in the day the buying became more effective. Corn has shown rather a steady tone most of the day. The late strength in wheat was factor. Cash business was good with safes of 155.O0O. including 25 .00O to exporters Oats; Fairly steady Cash demand good with steady prices Sales, 110000; offering were mod crate Seeding operations are progressing more rapidly, and this Is causing some pressure at times. Prices. however, are comparatively low. Provisions; Lower with hogs; weak. foreign markets heavy and receipts very large. Hog receipts were 35 OO0 with the market l0c off Western receipts, 1l9 GOO vs. 74,o0o year ago. l.iV- erpool lard much lower.-Doremus, Daniel