The Birmingham age-herald., 1924-06-27

NEW ORLEANS, June 26.-Cotton advanced further early today, with July leading the upward movement, but lost 1t all in the afternoon. The advance was due mainly to further covering in July due to continuation of rumors that several spot houses dominate the July position in New York and intend to demand delivery on the contracts which they hold. Spots were also tight and brought high premiums over July. There was some covering in the new crop months, based on belief that the recent showery weather has not been favorable for the east, reports of in- creasing weevil infestation from that section and probability of another peri cd of excessive heat and drought in the west. Additional favorable crop re- ports were received from the west, but those coming from the east are not so optimistic, and weevils are increasing in that section.-Fenner & Beane to Kahn & Virgin.
 NEW ORLEANS, June 26.-Cotton was rather nervous in the early trading Thursday, with a price range of 50 points on July but less than 20 points on the new-crop positions. Liverpool was about penny points worse than due shortly before the opening. Trade interests were buying in consequence of strength in the New York market. The strength of July was a feature of the market, and this helped the new-crop months.
 The weather map showed some scat tered rains in the eastern belt, mostly in the northern sections. The west was generally fair, temperatures still high all over the belt and the forecasts were for continued favorable weather, with more precipitation in the west. Further curtailment is reported from New England. We look for 8 lower market.-Levy & Aronson to s. R. Stewart.
 NEW YORK, June 26.-The July con tract again dominated the market to- day, scattered buying of the near months with little for sale forcing July to 30c and 427 points over October dur ing the morning, but in the afternoon the demand was less urgent for July and the market shipped on. Wall street selling of October and excellent crop news from the south. Some sur prise was expressed that July was per mitted to run away as 1t did today, and possibly attract sales for tenders that can be made until the 18th of next month.
 The rise in October to 25.73c was re- garded as entirely sympathetic, as crop and trade advices were bearish. Very few care to express an opinion because of the local market situation.-John F. Clark & Co.
 NEW ORLEANS, June 26.-After opening a shade lower for new-crop de- liveries, due to easier cables than ex- pected, the market bulged as a result of the strength in July, and because of the weather bureau predicting gen. orally fair and continued warm for Oklahoma and Texas, which revived fears of the possibility of return of another hot wave in the southwest. But the weather bureau reported only sea- senable temperatures for this time of the year in Texas and the map indicated no decided change in temperatures for the immediate future. In fact, there is possibility of cooler weather in the west belt by the weekend. It is prob able that the tendency will be to ideas of larger crop probabilities compared with recent opinions that centered around 100000 bales. In fact, latest private returns now point to a probable production, based on present conditions, of Ii, ,200,0 900 to 11,400,000 bales, exclusive of linters. Including linters, a yield of Il, 400, 900 bales of lint cotton would be equal to a total crop of about F, ,250, 900 bales.-H. and B. Beer to J. F. Willing ham 6 Co.
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