The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1923-04-13
DoREMUs.. DANIEL A. co.

A. A. Rousmsn g. Co.'S letter on stocks.
by. private wire to Doremus, Daniel & Co.;
NEW YORK. April l2.-While the mar
ket is steadier there still seems to be
quite little stock for sale on the raj.
lies. Crude oil price reductions are still
the chief topic. and are undoubtedly an
influence in keeping buyers away from the
petroleum shares. For the time being We
think that their market position is not es-
pecially attractive. Sugar stocks, in our
opinion may be bought when the market
slides off undcr the influence OF the sell
ms pressure. which has not disappeared.
Before taking definite position we should
like to see whether the main body of
stocks can break away from influences
hanging over the oils.
Roscoe lockwood & CO.'S daily letter on
cotton, by private wire to Doremus, Daniel
NEW ORLEANS. April 1..-Continued
highly unfaVorable weather caused strong
advances in cotton today. Complaints from
the belt that heavy rains We're interfer,
ing with planting We're more general, and
there was more disposition to call atten=
ton to the growing lateneN OF the start
OF this crop. Liverpool affected by
the news from this side of the water, and
came in much better than due. After the
middle of the day considerable realizing
in moderate setbacks. Rainfall was very
heavy over good part of the western
and central divisions Of the cotton region.
with every prospect that the rains would
extend into the eastern division tonight.
RaiHs as heavy as from two to four
inches were reported in Texas and Louis
lana. and not few Texas points wired in
that the rains did enough damage to
fields to make it appear that replanting
that rising rivers were causing apprehen-
sion in Texas, and that many small
streams were out of their banks and flood
ing lowands.
The reaction OF the afternoon can hard
~ be regarded as anything but logical
after the strong rise. Some little short
from the long side. but for the most part
sellers were cautious because OF the like
ihood of another unfavorsbie weather ma p
tomorrow morning. Gnfavoraole April
weather cannot continue much longer
without causing widespread alarm regard
ing new crop prospects.
James r. Bennett & Co.'S letter on grain.
by private wire to Doremus Daniel & Co..
CHICAGO. April i2.-Wheat: The mar
powef under IT is of larger proportions
| thanPthe local traders have have guessed
Consequently there has been an indifferent
response to profit taking sales. The ca bier
we're indifferent. closing 81 61d higher
There were rains in the southwest, but
not much in sections where most needed
up. European needs are heavy, and the
export business Will probably be OF con
siderable proportions. Weather conditions
we're little more favorable but the sea-
son is extremely late, and there is not
much prospect of any heavy farm market
ing, for some time. on the. breaks we
look for good buying. Oats followed the
general trend of corn. There was only
moderate trade in cash oats with prices
small at +Ycars. but the primary run is
much larger than year ago. There was
little pJbgress made in seeding in some
sections. Nut farmers are Handicapped by
the late REASON and by the scarcity OF
help. Rye: Germany again was a buyer
OF rye, taking 100000 and this was tho
signal for fair buying support. Buyers
have been waiting FOR the resumption of
export buying. II this continues look
for much higher prices. Provisions: TN
dertone steady with not much feature to
the trade. Lard trade is reported good for
export and abroad. Receipts of hogs here
We're 1900 080, with western receipts 1Os.-
COO vs. $1,000 a year ago. Markets Sc
higher with top IS 5o--Doremus, Daniel
e. Co,
passed through the stage where it react.
runors OF rain. Local traders took
profits on long stuff from time to time
but there was buying enough to keep the
market strong. The deferred months were
In new high ground and the activity is in =
creasng. We think the situation is a
strong one, and the Nebraska reports Of
smaller acreage and heavy abandoned
acreage and the Ohio state report show
ing acute shortage of farm labor. but
emphasizing the bullish situation. We
look for only minor setbacks incident to
bull market. Corn: Undertone strong
and while there was a reaction of profit
taking, the general trade was active and
the heavy selling was absorbed without
difficulty. The receipts a-e moderate and
will continue so.