The Birmingham age-herald., 1924-03-16
COTTON LETTERS

NEW ORLEANS, March 15.-Cotton was a fairly narrow stubborn affair | in the short session Saturday. The
 close was good at top prices for the | day. with advances of IS to S8 points,
 the most on July and October.
 | There was a lot of bulIish news early and there was disappointment expressed
 at the small response the market made. l Liverpool was very good, exchanges were better, and, while the weather
 map showed generally fair weather, the | temperatures continued very cold, with freezing weather in most of the eastern belt. The forecasts are for fairly un-
 settled weather in the west over the
 weekend and fair and slightly warmer in the east.
 Dry goods and spot news continued
 unfavorable, with the trade centers Lquiet.
 There is considerable optimism over European affairs, with the hope of l wave of better feeling following the
 early part of next week. 1 The first boll weevil report is ex- 1 pected around March 17, and is ex- pected to be fairly bearish. The final | ginning report is scheduled for l March 20.
 | If the weather turns bad in the west over the weekend and foreign news as Favorable as expected; prices may work higher; but, unless trade demand re- wives, we prefer caution on the long side.-Leyy & Aronson to s. R. Stewart. | NEW YORK, March 15.--Liverpool was sharply higher than due this morn- l ing on buying orders from America ana continental price fixing, but our mar ket failed to improve as much as the advance in Europe. Nevertheless, 1t ruled steady throughout the greater part of the day. and toward the close there was a very excellent undertone with the trade and the south a pretty fair buyer. Prospects for another spell weather forecasts for rain or snow In Texas, Oklahoma and Arkansas indi- cate that there will be more rain and a consequent further delay in prepara- ton for the new crop. The market is showing much better undertone and
 1t will not take very much now to stim- | ulate fresh buying movement which
 we expect at any moment, as we think fit will not be long before the dry goods market will begin to- show more strength. Liverpool futures are due Monday. May 17O2d; July, 166sd.-
 Hubbard Bros. & Co. f
 NEW ORLEANS, March 15-Pros- poets of more bad weather over Sum- day upset sellers and brought on an- other good sized covering movement today. Favorable political and finan- ciai news from Europe, sharp rise in French francs and strong Liverpool
 were helpful factors, but the weather
 was the chief influence. Some of the trade sold on the theory that the fore cast does not indicate very bad wealth | CT, but h6map shows a storm forma- tion over Colorado and New Mexico,
 which all private map readers agree
 will bring another rainy spell over most | of the belt over Sunday and will be
 followed by a cold wave. Snow is also indicated for the northern sections. The long-distanee forecast of private fore casters also indicate mostly unfavora- ble weather for the remainder of the month, as much of the recent selling
 was based on the theory of a good season in the ground in Texas and talk
 of an increased acreage every day of delay from now on decreases the prob
 ability of-an increase of consequence
 in acreage and renders the crop more
 liable to damage from the weevil. It
 Is we'll to remember that no large crop
 has been produced since the advent of | weevil that got off to late start. We
 believe the market is still in an over
 sold condition and expect further
 advance before the covering movement Tis over.-Fenner 6 Beane to Kahn & Virgin.
 l
 NEW YORK, March 15-While the market shows symptoms of beginning to reflect the technical and statistical positions as we'll as the unfavorable
 weather to date the demand is not ur- gent and support still hesitates on ral- | lies so that it looks comparatively easy \ to drive prices down if aggressive measures are. employed with that in
 view. Domestic consumption, however, combined with exports is fast reducing the available supply, and the only real escape from later sensational develop ments looks to be through American mill liquidation the raw material which they have on hand or under contract. l To what extent that will take place Is open to discussion, but selling against
 stocks of goods Is more speculation and
 only adds to the amount which event.
 ually will have to be covered. Around
 % cents the new crop positions look good purchase on an investment basis
 as allowing to each state the largest
 crop produced in any year since weevil
 infestation 1t will be difficult to fig
 ure crop of 12h, and there is little
 reason to suppose that such a crop
 would not bring more than that price
 on, the average with the prospective carry-over as limited as it is.-Post &
 Flags to shannon & Co.