The Birmingham age-herald., 1924-06-24
COTTON LETTERS


 tions in the South and followed by sym pathetic decline in our market until new crops reached the 25A cent level on which basis there was sufficient short covering and trade price fixing to steady market, in fact. some new trade buying in very limited quantity made its ap- pearance today for first time in long while.
 The most interesting development was the news in the morning paper of the re- storation of cordial feeling between France and England a result of conference of the premiers of those countries over week. end. Semi official dispatches would indi- cate that France and England had reached some tentative basis looking to- ward adoption of Dawes report which if true. is one of the biggest steps forward towards restoration in Europe that has yet taken place. while this has no infIu- ence at the moment, 1t is nevertheless something which if carried out at the conference, to be held on July Is. will re- suit in a tremendous step forward Mean time, we are approaching the period of private crop estimates and from character of the selling today 1t would appear that some of those reports are rather favor able Liverpool futures are due tomor- row, July 1899; Oct 14.6s.
 NEW ORLEANS, June 23.-Cotton was down $1.50 a bale in the early trading Monday on reports of favor able rains in the west and a very poor Liverpool. Liverpool opened about IS penny points worse than due. Man chester cabled there was a better busi- ness with India and China. The early weather reports indicated considerable rains in the west and some in the cen tral belts. The majority of reports were to the effect that these rains had been generally beneficial, but the weather map failed to show the rains in the west reported privately, and tempera- lures continued fairly high. While no improvement was reported in the tex tile industry and some reports were that Worth street was still dull, the New York Journal of Commerce said there had been a considerable improve ment in retail distribution of dry goods induced by the recent warm weather over the country. The exchanges were firm. Market looks lower.-Levy & Aronson to s. R. Stewart.
 NEW YORK, June 23.-Cotton felt the influence of good weather more today than any day since 1t turned favorable, following the wet and cold May. The chief influence today was beneficial rains in Texas and other sections over the weekend and excellent crop reports from most sections of the south. The selling was general, but a fair demand fro mshorts and the trade checked the declining tendency at the start. Some of the offerings were apparently based on private condition reports to be is- sued shortly, and there was talk that the next government bureau should show an improvement of about points. During the late trading the market ral- lied about $1 a bale on room covering. John F. Clark & Co.
 NEW ORLEANS, June 2s.-The breaking of the hot wave in the south west by further light to moderate sains in Texas, excessive in extreme southern part of the state, resulting in cooler weather in the southwest, depressed the market today. According to the weather bureau, moderate to heavy rains occurred Sunday in Texas, Louisi- ana, Arkansas, Mississippi and North Carolina and moderate rains Monday in scattered localities in all cotton-growing states except Alabama. Compared with the high level of last week, when the heat wave was on, the market declined about 100 points; and, as there have been excessive rains in the coast dis | enough for period pending future climatic developments. Some districts of the south Atlantic states have been receiving too much rain. While 1t Is possible for the crop to show some improvement for the month compared with last months 65.6, the general con- dition of the plant is still probably be- low that of last year for June 25, which was 692, and probably much below the 10-year average for June 25, which was 74.S.-H. and B. Beer to J. F. Will | lingham & Co.
 NEW ORLEANS, June 23.-Liverpool was lower than due and the market here opened lower, but steadied soon after the call on reports of further heavy south Texas rains over Sunday and private cables reporting Manches- ter doing more business with India and China. Uncertainty attending first July notice day Wednesday,, however, coupled with the favorable tone of numerous private crop accounts, which seemed to be based on the general char acter of western belt rains and lower temperatures west of the Mississippi tionary sentiment. Selling of October by Jay brokers promoted expectations of a bearish condition estimate from that source; and a report, later denied, claimed that government expert in Oklahoma had reported 17 points i'm provement in the condition in that state where acreage increase reported 10 per cent and indicated crop of one million bales mentioned. Texas depart ment of agriculture is credited with the statement of an acreage increase in that state of 10 per cent and consid- erable improvements in conditions dur ing June.-Fenner & Beane to, Kahn & Virgin.
 QUAINT FURNITURE
 The widespread interest in all old