The Birmingham age-herald., 1923-12-01
KAHN EROS AND VIRGIN

NEW ORLEANS, La, Nov 30.-Cotton opened buoyant and 50 to 6s points higher under the stimulus of advance at Liverpool and Egypt. Small crop estimates and re- ports of good demand for spots at the highest. prices of the season. Early prices, however, proved to be the best Of the day. The first bulge met so much selling that it soon deepened the ardor or the many longs and started the more drastic selling. Prices then began to give away.
 London reported liquidation freely dur ing the early session. Next big opera = tor in New York was reported as ltquidat- ing big line of long cotton An est1- mate of 9.90O,000 from one of the private bureaus that upset prices was issued dur ing. the day. Pressure from liquldatlon and selling became heavy in the after noon and a number of stop loss orders were reached adding to the volume of selling.
 Values sold 15o under the high as a re- suit of this pressure, but the market rose quickly just before the close on covering by, shorts who sold earlier in the day. one way all the time and we are. there fo fore aPf Pint, to nnar see more and Beans
 NEW YORK. Nov. so.--Liverpool was influenced by the publication of two bullish crop estimates today sufficiently to carry prices into high territory. prof asng seng from on which mss time readily absorbed by buying by the trade and Liverpool.
 For the first time in many weeks there was some short selling noted though it was of a weak character and did not amount to much yet the fact that any amount of such selling was going on at all increased the desire to accept some profits. A report by Clement Curtis of Chicago, estimating the crop at 9.9oo.oo0 was also given the ba sis for some western selling. Wires were received from the south saying that December com mittments had been filled and cotton con tinues to point its way here for local stock.
 In the afternoon a block of about 2o,o0o March was sold when that option passed through 90.
 It should bs remembered that there is big speculative long interest held in Liverpool as well as on ds, this side t., and , liquidation is likely.
 We advised around the opening we thought profits should be taken and con- tinue to think that some cotton should he
 Liverpool II a. m. bids: January, S6.70d :; March March, sss$d; M May, as.ssd; July ss.1'd' IysrpSqI due December l. 5angary 1,,1;, 20.51d; December. 21.3sd.-Fenner and Beane.
 SHANNON < co.
 NEW YORK. Nov. so.-strong cables new highs to be reached this morning. The advance, however, brought out tre mendous profit taking from all quarters.
 
 bought. Throughout the day the west was heavy seller and the weight of of ferinss more than the trade could absorb. Septiment became decidedly actioaarg for the first time in many days as it was felt the advance brought on by the improved dry goods situation has been somewhat over-done Reports from the south show heavy trading in spots with a somewhat easier basis and this together with rather bearish spinners talk ings brought out more cotton from local and western operators, while some good sized stop loss, orders were caught. The prediction of heavy exports from Texas and continued reports of greater activity in Manchester failed to influence tie mar ket. New York makes the intosight Tor the week 5o4,735 bales against 5oo,2fS last week and 369,S14 last year. Exports are reported to be over 65,000 bales for today.
 
 RAW SILK
 NEW YORK, Nov. 3o.-Rsv silk steady. Prices per pound: Kansai double extra cracks, ss.36dlS.45; Kansai best No. l. ss.o5 @s1e; shinshu No; 1. sa,95@S; Can China steam fil gold double deer. S9.25G0