The Birmingham age-herald., 1923-04-25
Told by Priuate Wires
HUBBARD,S LETTER

NEW YORK, April 24.-(SpeciaL)-Ou ing the greater part of the session. Con fidence Is slowly being restored after the decline of the past few weeks. and the tion to strictly cotton factors which will determine, if left to themselves, the course or prices for the coming year. Weather conditions in the south still continue to be of an unfavorable character with cloudy and showery weather over the greater be prolonged without causing serious set backs. In fact it is doubtful now whether south Texas will be able to produce crop poets for an early cotton crop are becom- ing rather dubious. The tendency of prices will be better now that this liqui- dation is over. but in the meantime it may be that the market will quiet down and remain fairly steady for the time being. while people are readjusting themselves to new conditions which have arisen. Flu lures in Liverpool are due tomorrow: May II sgd, July l4 4.33d.-Hubbard Bros & Co.
 sTEwART's LETTER
 BIRMINGHAM, April 24-The Liverpool quotations came over slightly better than due this morning, with continued good sales of 5000 bales and an advance of '6 points in their middling prices. Cables from the foreign yarn and cloth markets were moderately bullish. stating trade was buying freely. Our market opened un- changed to Is lower than Mondays close 10 to 20 points above yesterdays finals ana afterwards the market ruled a scalp ing affair and came to close unchanged to 10 higher for the day. Spots were gen erally quoted unchanged to 10 higher in the southern markets and business report ed light. The early buying was attributed to Wall street, when this demand was sup piled prices sagging somewhat. but no first notice day on the May options No body has any definite idea just what will happen In the way of notices, but the i'm precision is that they will be promptly stopped by one of the leading spot houses There was nothing of importance in the way or news, Sentiment has turned more friendly and expressions are heard that there probably is not much on the short side now, while the long side at this level mas many possibilities.-S. R. Stewart & Co.,
 DoREMUs. DANIEL & co.
 A. A. osman Co.'S letter on stocks
 NEW YORK. April 24.-Those specula- tors who are supposed to be most heavily short of the market are not covering outside buying power to stir the main body of the market. These same specu- lators may not be putting additional pres sure on the list and the situation is al- most at deadlock. Our impression is that so-called bearish news on the oil is being used against the whole market, and we also have the impression that the ef- feet of this news is on the wane Steel meeting after the close today and at the be made to impart strong tone to the steels during the last hour. General mar ket very dull, but think we see little more confidence or rather less uneasiness.
 Roscoe Redwood X Co.'S daily cotton letter by private wire to Doremus, Daniel
 NEW ORLEANS. April 24.--Fluctuations In cotton were rather narrow today and carried the price both above and below the late trading appeared to be due to liquidation preparatory to first notice day Tor May, which is tomorrow. Notices hero cannot be issued for any great quantity of cotton for the total certificated stock is only 5,l55 bales New York has certifi- from that market this afternoon said ten ders probab bly, would be small, not to ex- ceed 10000 bales. During a good part was induced by widespread accounts of a better spot demand. Texas points wired in that those who were trying to cover their spot wants were finding only light offerings Greenvile. g. C. wired that the spot demand there was good with little offering. Augusta wired that Savannah and Augusta yesterday sold together 4.00O bales of spit cotton to Japan at a high price while one New Orleans firm over erpoo
 James E. Bennett X Co.'S daily grain letter, by private wire to Doremus, Daniel CHICAGO, April 24-Wheat: The mar ket has been strong with a good demand as well as heavy short covering. Local selllng has been factor bulls take profits on the moderate advances but the grain was well taken with only moderate setpacks atter the early bulge. Liverpool was 'e to 1s higher due to the better continental demand and to the fact that the increased buying has made shorts ner- vous as the May has been selling much lower than the spot wheat. Northwest weather conditions unfavorabe as well as those In western Canada. which will mean a still further delay in seeding and in crease the probabilities flor a large reduc- ton in the acreage. Corn The corn mar ket has been strong relatively and the buying demand has been steady absorbing the liberal selling at advancing prices. The cash demand has been good here but the significant feature is the high prices pre- Vaiiing at various outside points.-Dore- mus, Daniel X Co.