The Birmingham age-herald., 1924-12-24
COTTON LETTERS

IVA A S&V ASkA A A ~~ S~
 NEW ORLEANS, Dec. 23.-Athougn cables again were better than due. American markets declined under pres sure of nquidatioan. Apprentiy Decem- Der commitments have been Filled since there has been considerable fall ing off In the demand for spits in the south in the past few days Tomorrow will be last December notice dy at New Orleans and New York and trad ing in December will cease at noon. Friday, December 26, will be first no- tice day for January in American mar kets and heavy tenders are predicted, but 1t Is rumored that the notices will be stopped by spot interests- Mean while, more liquidation is likely, espe- cially in January, in advance or notice day, in which even the market would likely be lower temporarily. American markets will be closed on Christmas Day only. but Liverpool will be closed Thursday, Friday and Saturday of this week. Therefore trading likely will oe small during the remainder Of this week. After the holiday more active market is expected. Advices from in terior say there is large short interest in spots for January February ship ment. If true, a revival in the spot de- mand may be witnessed with the open | ing of the new year.--H- (, B. Beer 10 J. | F Willingham 6s Co.
 NEW YORK, Dec. 23.-Cables this morning were better than due, repre- senting the calling of cotton based on December contracts on which the mills are fixing price before the holiday. our market did not respond with this i'm provement abroad, which traders put down to the cause assigned above and were therefore, inclined to ignore. A good spot demand is still reported in the south, whose markets are called upon to supply cotton in place Of th,t in certain sections of the east where the peculiarities of the weather have left the staple lacking this year. On the decline, there was a moderate trade demand, but speculative sentiment was so depressed that the tendency is to sell the market short, simply on the ground that nothing can put it up. This Is not an unusual frame of mind in the month of December in a large crop year, but it has happened in the past that the opening of the New Year has brought a new viewpoint. Meantime the crop passes steadily into consumption. the amount of cotton still for sale in the south is steadily reduced and defi- ciency of rainfall in the southwest is steadily increased These are factors which count for nothing in the day to l 1luCIuaLlOuB which we call to your attention that you may ponder upon their profitable influence in the future. Liverpool fu- lures are due tomorrow, January. 13.02d, March, 13.07d.-Hubbard Bros. 6 Co.
 NEW ORLEANS, Dec. 23.-Cotton prices were only moderately actice in the early trading Tuesday. The open ing was a few points higher on good showing by Liverpool, but enough sell ing developed in the next fifteen min utes to depress prices several points. Liverpool was to 10 penny points bet ter than due shortly before the opening of the Amerioan markets, with spot sales 5000 bales, of which 4,000 were American. The weather may show good rains in the east central portion of the belt, but 1t is dry elsewhere. The west continues dry and cold. but rains are predicted for a portion of this sec tion today and tonight, which caused some selling. Good rains in the west will go a long way toward progress with land preparations. Rain on coast and sleet in the interior is forecast for the Carolinas.-L. and A. to s. R. Stew art.
 NEW YORK, Dec. 23.-Iiquidation by tired longs principally from the west was today's features as outside specula- ton continued dull. Professionals were on the selling side. The spot demand seems to be quite as persistent as ever and increasing strength the basis is reported. There was some sling of October today on the recent freezing weather in the west. We believe that decline should be taken advantage of to make purchases, as we do not think the south will be a free seller around this level.-Fenner and Beane to Kahn and Virgin.
 NEW YORK, Dec 23-Buying by Liverpool and commission houses after opening sent March to A.10c. where it met free offerings and for the rest of the day market ruled soft, particularly in the afternoon, when there was con siderable liquidation of long cotton and more or less local selling. The market today felt the absence of speculative support, as there was not enough trade buying to absorb offerings. Expecta- tion of heavy notices Friday caused more liquidation of January. Exports were 10000 bales. There was no par ticular news. Sentiment is becoming mixed. Much depends on trade develop ments after January 1.-John F. Clark & Co.