The Birmingham age-herald., 1923-04-19
DOREMUS. DANIEL & co.

\. A. Housmsn & Co. on stocks by private wire to Doremqs, Daniel X Co;
 NEW YORK. April 1S.-There was one difference in todays markets, and that was the steady tone which prevailed right de}nteT to sav broen amaY aTke fron bs oils in which there was some scattered covering today. The big feature was rail strength after. midday in which bot h dividend paying and non-dividend issues joined. We are hopeful that the strength in the rails will continue for we believe that such strength would do much as any other factor to restore outside confi- dence in the market and render it less susceptible to professional drives which are often based on prices rather than values Financial position of the Steel corporation is still under active discus sion. 1t being claimed in some sources that the corporation has $250. 100000 excess
 Roscoe Redwood & Co.'S daily cotton letter, by private wires to Doremus. Daniel X Co.,:
 NEW ORLEANS, April 1s.-Crop and weather news continued unfsvorsble today and in addition there was a further strength ening of the spot demand espe cially in Texas markets while covering of May shorts not an inconspicuous feature of the days trading The cer- tificated stock in New Orleans fell today message said Big people gunning for May shorts" New crop months were not as strong as the old because of the fore cast of generally dry and somewhat warm CT weather for the belt. Eastern mills were reported buying and paying good prices for cotton for May and June ship ments. in the north central belt. while both Dallas and Houston reported much better inquiry, with good deal of busi- ness done last night and today. Houston wired late in the day that considerable in quiry had yet to be filled. In the local market more activity was reported and the inquiry was said to be mainly from mills and not from spot shorts. indicating that mills still have cotton to buy re- Eardless of what has been said of late of bOnRht-ln reports by the government were only as unfavorable as expected. telling of the effect of too much rain and low tempers- . tures, of planting being retarded over large areas and of young cotton growing poorly where it was up. These official reports confirmed about everything that has been claimed in private crop accounts concerning the poor start. It looks if the market Is in a position to advance very easily, either on further unfavorsble crop news or further favorable spot news.
 James F.. Bennett & Co.'s letter on grain. by private wire ta Doremus. Daniel & co:
 CHICAGO April 1S.-wheat: Market had good rally early today, but later mand curtailed to some extent by the better weather in the northwest. but winter wheat reports are as serious as eyer. and Nebraska is said to be going back every day without rain. Reports from New York quote American business men in Berlin as predicting settlement of the indicate that there has been buying of wheat Tor several days in anticipation of this. The market undoubtedly would be given fresh bullish stimulus in the event of settlement of the Franco Ger man difficulties. Export trade is quiet. The general situation. we feel, is favorable to the buying side. but the demand does not follow the rallies might be expect ed. Wage increases are expected in many industrial lines and this should be a con structive influence on grsirs. While there is so much doubt to the outcome of the crop. favor buying on breaks. Corn: On the bulges today there was heavy selling, which gave the market a weak tone later in the day. The cash demand here was good, with receipts light and no evidence of heavy farm marketing z in any quarter. Export business good free acceptances on offers to United Kingdom being reported at best basis so fa-. More favorable weather, however. took the edge off the demand and there some profit taking and also some bear pres sure in the pit. These conditions make for two sided market oats: The cash demand for oats moderate. wealth CT speculative sentiment was not very enthu- sastic on the buying sttie. The result was an indifferent trade. Seeding oper- ations are making fai" progress Rye; Ex- port bids were reported little stronger. but export sales not very extensive. The market followed wheat. Provisions were trifle lower with reports indicat- ing slow demand. Receipts of hogs, 25,000, with the market steady. Top was ts.55-Dorenus, Daniel X Co.