The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1924-04-12
COTTON MARKET

NEW YORK. April 1I-Liverpool was
again better than due this morning
trade calling and further rains in the At
lantic states. our market opened about
as due, but has failed to hold and de-
clined during the greater part Of the day.
This decline has been due to improve
ment in the southwest and the belief that
the most pressing short interests for trade
account have been covered in the near
ket is probably adjusting itself to the
3O-cent level and we can expect that for
some time, the market will back and fill
while this readjustment goes on, In the
meantime, however. the exports OF cotton
ni on large basis Rsy nd sale; of
question has done much to relieve the
situation. not only there but in other mill
districts, of cloth that nave been piled
up during the. recent period of slack
| trade. Generally speaking, the trade
the idea that present prices fully discount
the situation.-Hdbbard Brothers and Co.
NEW ORLEANS April 1.-The cotton
market was quieter today than at any
time this week and had much the appear
anee of going through a SOLDERING down
process. Liquidation in May, which ap
| spot people. proved somewhat of deter
rent to buying. especiaf1y in the old crops,
and most of the days strength was in
the new crop months. At one time May
| sold SO points under the previous finals
and recovered only about half as much,
while October which sold 81 points lower.
small net gain. Spot news continues very
strong, with shippers paying high pre-
miums everywhere to get cotton to en-
able them to fill their commitments. Spin
ners' takings were encouraging and a
shade better than a year ago, while ex-
ports continue heavy and interior stocks
are shrinking steadily. Sentiment Is prob
ably more mixed than at any time re-
Gently. We believe the buying side will
prove the most profita BILE until the wealth
er becomes settled and ,the spot situation
releved.-Fenner Beans TO Kahn &
Virgin.
NEW ORLEANS. April 11.--cottsn suf-
hfered rather heavy liquidationf Friday
particularly in near position. Fairly good
buying developed. on the decline. Large
sales al Fall River and unfavorable wealth
demand both here and in the interior were
not Sufficient to prevail against a reac-
tionary feeling based on a weak technical
condition, an unsettled stock market and
disa appointing weekend figures Fall
River sales were $4,000 pieces, against
100000 to 10000 last week. The dry
ners' takings at $4,000 bales against 2O7,-
900 last week and 1S0, 900 last year. were
disappointing. ticker report which said
the repafations commission had accepted
the Dawes reparatfons plan did not seem
TO help the market.-Levy & Aronson to
S. r. Stewart.
NEW ORLEANS, April 11.-Although
climatic conditions inland were unfavor-
able rain in nearly all sections, with
prosnects for more moisture in nearly all
districts of the cotton region, and not
withstanding the continuance of, large
spot sales in Liverpool and large spin
ner takings, the cotton market assumed
reactionary tendency today. Private
able advices from Liverpool said master
spinners recommended the continuance
OF short time until the end of Septem-
Der, that miners rejscted employees pro-
posals, but by small majority only
Exports from the United States continue
free. So far this season, 4.646, 900, against
1000 to even date last season. when
total for whole season was only A645 900
consequently exports this season areI now
running on basis for the whole season
of -5.308. 900 bales
Meanwhile, weather inland remains I'm
favorablef for farm work in preparation
for the new crop.-H. & B. Beer 10 j. F.
Wtllingham & Co. :