The Birmingham age-herald., 1924-08-23
~---l7l---7-ss.77a.-7-7-V COTTON LETTERS


 NEW YORK, Aug. 22.-The market has continued dull and quiet within a narrow range during the greater part of the day, what little change there was being largely of an easing-up character. While generally speaking the trade expects a report around 13,- 100000 bales, there is not quite the con- fidence that there was a short while ago, as it was felt that the government may reflect some deterioration since the private estimates have been made up. Until this report is out of the way, there will probably be no great change in prices.-Hubbard Bros. 6 Co.
 NEW ORLEANS, Aug. 22.-Cotton was the usual dull affair to be expected the day before the bureau report. Liv- erpool was 8 shade worse than due, with spot sales of 5000 bales, of which 5000 were American, and American fu- ture prices were off a Sew points on first sales. There was little in the early news to stimulate trading one way or the other.
 The weekly trade figures due later in the day exercised quieting influ- enee. The weather reports showed gen. orally fair weather over the belt, with only widely scattered showers in the central and eastern belts, which were really hardly more than a trace of the moisture. The forecasts are for some clouds in the northeast and in Oklaho- ma, but generally fair elsewhere. The tropical storm is 400 miles out at sea off Jacksonville, Fla, and only few traders expect 1t to hit the Carolinas.
 Interest centers, Of course, on the crop report, due at 10 8. m. Saturday. In view of the normal short trading day, the New Orleans and New York ex- changes will close at 9:45 a. m. in order to prevent the inevitable confusion in trading if the report came out simul- taneously with the crop report just at the close.
 Private estimates of the crop vary widely between 12,400,000 to 13,800000 bales. The average is around 12,900,O0O. Dry Goods reports are about the same, with exchanges steady.-Levy 6 Aron- son to s. R. Stewart.
 NEW ORLEANS, Aug. 22.-rrading was mostly of an eVening-up character today and prices averaged higher than yesterday, though there was no great price movement either way. Sentiment as a whole favors the selling side, but the change in the storm news, deteriora- tion reports from Texas and spread of army and leaf worms in Arkansas tenn pered their ipelinations and there ap- peared to be more covering than sell ing from that element. Reports of break of 75 to 100 points in the spot
 
 of August commitments and large crop talk were the chief bearish influences. The general expectation is for a con- dition report tomorrow that will be above 65 and forecast a yield of 13,000,- 900 or more. Information which we have received recently points to a much lower condition and to a crop forecast much smaller than anticipated. The average estimate of the private bu- reaus is 66.S. We expect to see more than the usual evening-up in advance of the bureau report, as it's figures will be made public after the market closes. A nervous and cratic market is likely. -Fenner &NBeane to Kahn 6 Virgin.
 NEW ORLEANS, Aug. 22.-The presence of tropical storm in the At lantic ocean, apparently off east Florida coast, far out at sea, remained the sus- taining feature today, while 1t is likely strong winds are to be experienced along the south Atlantic coast since storm warnings have been ordered up from Jacksonville, Fla, to Cape Hat teras, 1t is also likely for the dis turbance to bring the needed rains for the east belt. Meanwhile, prospects are for cooler weather in the west belt, and probably beneficial showers over the north portion.
 Since. the trade has been educated in the belief that present prospects indi- cate a larger crop than was indicated two weeks ago, or more than 12,951, 900 bales, and since the market has declined meanwhile, 1t is possible that an official estimate of about 12,750,000 bales has, been about discounted for the present. Assuming this to be the case, It isl likely the market would probably ad- vance on a forecast for 12,800,0O0 bales or less and probably decline if 1S,000,0007 or more, whereas prediction for 12,S00,- 900 would not have much effect on the market, at least for the present.--H. and B. Beer to J. F. Willingham & Go.
 NEW YORK, Aug. 22.-Cotton today averaged little higher than yesterdays final, with mostly evening-up for the government report. The best prices were made in the afternoon on covering by early professional sellers. There was no particular news, The map showed light showers in the central belt and the Texas detail a few showers in the northwestern portion of the state, in- ciuding half an inch at Quanah. The, gpinners' talzings for the week were rather bearish. The expectation is that ths report will be very favorable, The average guess of 6s members is 65.s, which, based on the August IS pars,