The Birmingham age-herald., 1924-04-03
COTTON LETTERS

NEW YORK. Apriis e.-Aithough the market was easier at the opening on dis appointing cables and the outlook for better weather, it soon became evident that more cotton was wanted in one way and another than sellers for short account were prepared to supply at the moment, and prices turned firmer. being helped along by covering by early sellers, who looked for the decline to extend further on pressure from larger shorts; who were supposed to be uniting only for favor able opening to force a lower level.
 Foreign advices' are increasingly op- timistic with some in Manchester report | ing the best business since the war started. The unprotected short interest for trade and speculative account is stili held to be surprisingly large, as 1t very well may bein view Of the universal and holds it's premium very we'll and there are no signs that. it is beginning to at etraet any cotton here. while there are we'll I to be made in the next month or so out of. the local stock. which appears more and more to be attracting attention of exporters.-Post & Flagg to shannon &
 ;NEw~oRLBANs, April 2.-cotton was easier during the early trading Tuesday what disappointing dry goods reports The weekly weather was, about a stand off and had little effect on the market.
 
 preparations throughout the belt for the week. planting very backward for the season. It is expected the re-establish- ment of German credit will stimulate has been 5230 points from the recent low. sentiment is more in favor of the market prices higher, particularly if trade news is more favorables-Leyy & Arenson to s. R. Stewart.
  itated this morning on the reports of better weather in the south. Our mar ket opened lower, but met some fair trade buying and we were again In. re- ter in which wer are interested stating that they had the best business yester- day of any day since the war and that prospects were for a continuation of busi- able advices from that market and as Q result there has been gradual cover ipg of short cotton in the near, months which was accentuated by wire from a well known member of prominent spot house calling attention to the great scarcity of tenderable cotton left in the south. There was also further confirma- : tian of shipments from; this market dur ing April, which so far aggregate 40, 900 bales against which freight room has all ready been engaged. Liverpool futures 1s.6sd.-Hubbard Bros. & Co.
 cables and closing of few mills in Geor- gia and Alabama and reports of further labor troubles in England gave the cot ton market poor opening today. Of fieial and private confirmation of the late ness of preparations, statement from the weather bureau that progress of germina- tion and condition of the, early planted cotton In southwest Texas was poor and forecast of unsettled weather soon checked the selling and stimulated both buying and selling. Later. on reports that favorable events were pending in Europe. big advance in francs, reports rom the census committee Gn the hands of the southern senators to force a re- vision of the census statement of carry over of American cotton and may also bring about a revision of it's figures on foreign stocks. kept bullish enthusiasm well sustained and shorts nervous. In the afternoon the market vas, almost electrified by rumors that the Bank of England has or will reduce it's discount