The Birmingham age-herald., 1924-10-24
COTTON. LETTERS
BRIDGE.

NEW YORK, Oct. 23.-Liverpool was again somewhat stronger than due this morning, but our market failed to re- spond to the improvement abroad. An other private crop estimate appeared, which, if taken with the favorable weather, impressed the market with the idea that Saturdays reports would certainly be heavy, both as to ginning and as to the indicated crop. These consumptions may prove to be correct, but it Is well to remember insofar as the ginning is concerned that we have seldom had two more favorable weeks than the past fortnight, so that the crop should have been picked and moved rapidly to the gin. During the day, trading was quiet and without especial feature. The trade demand continues, as it is bound to do under the conditions indicated by recent cen sus bureau figures showing a small stock in the hands of domestic spinners with an increase in the number of ac- tive spindles during the month of Sep tembee. October contracts expire un- der the law at noon tomorrow. Mean time, the New York stock continues to increase. Liverpool futures are due to- morrow; December, 13.02d; January, 1806.-Hubbard Bros. & Co.
 NEW ORLEANS, Oct. 23.-The first freezing temperatures and heavy to killing frosts of the season were re- ported from a number Of~stations in Oklahoma, Tennessee, north Mississippi, north Georgia and the interior of the Carolinas today, but the market failed to respond to this development owing probably to fear that next Saturdays crop forecast and ginning report may be bearish. Tending to strengthen the be- lief in larger crop ideas, returns to Memphis Commercial Appeal averaged the condition 65.7, yield 12,771, ,000. The average of six private reports is 54.S highest, 5S,7, lowest, 53.4, and the aver age of seven private reports as to in dicated crop is 12,512, 900, higest, 12,- amount of cotton to be reported ginned to October IS, private estimates range from 7,1A0,000 to 1,516,000, averaging 7,32S, 900, against 6,409,000 to correspond ing date last year, when the crop was 10,140J000, exclusive of linters. While ginnings are generally expected to be heavy, there is uncertainty as to what the government forecast will show in bales as regards the indicated crop, but the long spell of good weather has created the impression that the bureau report will likely be bearish. But the government Is to include all known factors in the making up of its report, and there is no telling what the findings will be. However, unless there is a surprise in store for the trade, the gen. eraI opinion is that if the market de- clInes on the bureau report a good de- mand will probably develop, as the trade and public are becoming con- vinced that the textile industry on both sides of the Atlantic will show marked improvement in the near future, per- haps after the election. Already we have 1t that Lancashire Is to increase active spindles g per cent, effective November 3. Yesterday Washington ad- vised that cotton spinning activity in the United States showed an increase in September compared with August and July of this year, having been run at 76.1 per cent of capacity on a single shift basis against 62.S in August and 50 per cent in July. More frost is indi- cated for the greater portion of the belt again tonight.-H. & B. Beer to J. F. Willingham & Co.