The Birmingham age-herald., 1924-03-09
:: COTTON LETTERS.

NEW .O1SAGANS, mArCn 50.-BeATtSh operations were. encouraged at the start by the poor showing made by Liver pool and further break in French francs, but the weather outlook later offset these influences and brought about . sharp upturn. Under pres sure of early selling values dipped 25 points for the new crops and A for the old. On the rebound, the new crops rallied 49 points and the old 75, and ended the day. not far from, the best. Spot news was generally of a cheerful character, exports were large and there was more doing in Worth street and Fall River. Some of the trade was ap- prehensive over possibility of a lock out at Manchester next week. The weakness at Liverpool increased this feeling, but cables from that market at- trtbNtedl the selling there to the weak
 mesa in the American markets Friday.
 The map and forecast indicate general
 rains and cold weather over Sunday. A. number of towns in Texas reported rains during the day and reports of delay in preparations are coming to
 market in increasing numbers. Our long distance forecast indicates a con siderable period of bad weather s Is ahead for the next two weeks, with a storm or, cold wave for starter early next week. We believe the selling is being ovetdone in view of the tight ness of spots and. unfavorable weather outlook, and expect considerable COW ering in the near. ..futune.-Fenner a Beane to Kahn < Virgin.
 NEW YORK, March s.-As usual, the rallies have met fresh offerings and the demand is neither broad, nor strong enough a3, yet to override this. resiBt- aIce, so that the result is a nervous, choppy market in which fluctuations are quick and sharp, though within a comparatively narrow range: Spot news could hardly; be more bullish, but is ignored fo rthe time being and over shadowed by the continued disappoint- ing conditions in the goods markets, on which emphasis Is laid practically to the exclusion of anything else, It has long been an, open secret that northern milia have as a rule no important stocks of goods on hand ,z and advtces today indicate that there has been much ex- aggeration in ideas as to the aecumu- lations, in southern mills, and that. these in some important centers constitute no more than thirty-day supply. There also appears to be a, growing feeling of uneasiness among southern mills as to whether those who have. contracted to make later deliveries will be able to fih those contracts. An irregular trad ing market is all that looks probable for the present, but the position is growing constantly stronger, and if un- favorable weather such as we have had to date should continue to delay the next crop and cause anxiety, the pres ence of an over-extended short interest would quickly become apparent. It is impossible to estimate the exact bottom. but purchases on these sharp dips look advisable. and should be protected and held.-Post & F1agg to Shannon & Co.
 NEW YORK. March s.-HAavv seIlin., In q IiYAFnnAI caused very much lower market there this morning However, after the in- itia4 break, our market recovered prin- ctpally, based on the prospects of bad weather In Texas over Sunday. There was good buying by those who sold on tne recent decline, the market closing at the best for the day. These declines and recoveries are quite natural and are to be expected at the end of a biz movement just as the market goes back to the previous high two or three times before it begins to break after a big pull market: We feel that everything in the market indicates that the biS decline which always follows the cui-. imitation of bull market has terrni- mated, and if this un4avorable weather In the south develops we can have a substantial recovery. :.
 Liverpool futures are due on Monday. May, 1S:44d;. July, 16.17d.-Hubbard - ". - " NEW ORLEANS, March s.-The outlook, some slightly better Bpdds trades reports, and private con- sumption estimate considered bullish were too much for the shorts, and buy- ing and covering was insufficient VOL ume to advance prices about 70 points from the early low prices were down about 70 uoints early on a disappointing Liverpool and the further break in erench exchange, but when the official forecasts predicted rain and snow in the west, and colder and unsettled weather in the east over the weekend, the market checked itself sharply.
 worth Street business Friday was reported more general, although prices were lower. Quiet buying was sup posed m that market. The mills at Fall River were said to maintain a resist ance 10 price cuts. Marshall Field 2 co. said wholesale distribution of dry goods is equal to last February.
 A report that the Pacific at Law renee, Mass., would reduce time from Tour 70 three days a week follows re- port or several mills at Fall River open ing Monday. The conSumptioh estimate IS ls Ior SOO,OOO, which compares with oeLV0O bales on February, 1923. The oIIlclai tigure March IA may be larger than this estimate,
 The drop in French exchange has only relatively small meaning for the cotton market, except 1t Is generally un. settiins 10 the traders mind. The weather is bad and preparations in the rest are late, A continuance of bad