The Birmingham age-herald., 1924-08-07
] COTTON LETTERS

NEW YORK; Aug 6.-Idverpool was sharply better than due this morning on sfontinued dry weather in the western &peh. Our market improved but faiIei sFo hold the advance, as t started to sfain in western Arkansas and many in fhe local trade believe that 1t may rain h northern Texas tonightE The week. y weather report was also considered Favorable, principally because of the lack of damage from boil weevil. It lnust be borne In mind that the boil. lweevil as rule does not start its bevere damage until the second week bf August, although indications point 10 the fact that there are Iconsiderahly fewer boil Weevil this year than last. Dn the other hand, 1t must not be for gotten that we have had six weeks spf continuous dry weathef in the big cotton-producing sections df Texas and that such conditions cannot continue. We have reached a poin&S where the Texas crop will begin to deteriorate skery rapidly if we do not get a good, drenching rain, throughout that terri fory.- Naturally, the trade realizes the necessity of this rain, and on the first lndications of a possible rain storm fhey will begin to anticipate. If 1t 'fomes, the market will so lower. If |t does not, it will recover sharply.
 Liverpool futures are due tomorrow: October, 16.26d, and December, 15.95d.-- Hubbard Bros. 6 Go.
 NEW ORLEANS, Aug. S.-2Cotton ad- Faneed 54 points at the. start today on hbsence of rain reports from the west. ! put lost it all and little more around z he middle of the session. At one time kaIues sold 80 to 89 points under the E early high, but the market had a good- ] sized rally in the last few minutes on lowering by early sellers. Failure of l fains to materialize in the drought btricken sections of the west overnight s And the forecast issued by the weather bureau Tuesday night upset shorts at
 he start and was responsible for most spf the early covering. The official Record for Oklahoma shows only six stations in the cotton region had pre- bipitation, and this ranged from .03 to $ O6 inches. The map does not indicate I 10 us that relief for Texas is in sight
 he buying side will prove best until Sst does get relief.-Fenner & Beane to
 kahn 6 Virgin. 8st
 NEW YORK, Aug. 6.-Cotton started higher and worked up to 2S. 7Sc for Oc- kober on strength in Liverpool and Brought complaints from Texas: but The rally met realizing and considerable
 outhern selling, which sent the price Down under 2Sc. One reason that the kdvance did not hold was the in1ispo-
 ition of traders to take position over
 he government report. Texas had no Tain, but the forecast was for showers afn the> northern portion Tomorrow and good showers were reported from Okla Aoma. A trading market is probable 4 hntil the report.--John Fl, Clark & Go.
 NEW ORLEANS, Aug. 6.-Cotton fontinued to move upYFrd during the z karly buying Wednesday on a good Liverpool, absence of rains in the west knd expectations of a buIlish weekly I yeather and crop report. Liverpool I Tas better than due, with the spot lales 4,000 bales, of which 1,600 were l American. The early weather reports were of some scattered showers in the 4 last and a light shower OF two in \ Oklahoma and Arkansas, but Texas Was clear and hot. The weather map confirmed these reports, except Texas kas cloudy.
 It was rumored during the morning he National Ginners makes the condi- f lion 69 and crop yield at 11,70O,OO0 Bales. This stimulated buying. The lverage of private condition fignes is bout 6S and indicated crop 12,200,0 900 lales.
 Dry goods and mill advices were lomewhat better, it Is said. Several
 New Englands will reopen very soon; Ind, although, dry goods demand has seen held in check In expectation of
 ower cotton prices, the undertone is bought good. The exchanges are firm. -Levy 6 Aronson to S, R. Stewart.
 NEW ORLEANS, Aug. 6.-The ad- lancing tendency of the market this horning was checked by &he official
 orecast for probably locaa thunder
 howers in north Arkansas, thunder howers for eastern oklahopia, possibly bcal showers in north portion of east bexAs and probably showers in west fexas and cooler over northern portion
 f the western belt.
 Light to moderate showers--heavy at
 Vo stations-occurred over wide area h Oklahoma overnight, but no rain