The Birmingham age-herald., 1924-03-20
COTTON LETTERS

NEW ORLEANS, March 1s.-Cotton failed to indicate any definite trend again Wednesday. The market was mostly a dull trading affair within a comparatively narrow range.
 The weather and forecast continued bullish. Liverpool made a good show ing, with spot sales at 15,000 bales, with exporters reporting good buyers, but the dry goods news remains uninspir- ing, and further curtailment at one of the chief mill centers was predicted.
 There probably was some selling in the early trading in prospect of the governments final ginning report, due Thursday. The total expected Is some thing over the last census crop estimate of 10,081 900 bales. Some traders expect a report showing 10, 0,200, 900 bales ginned. A few expect even larger than this.
 The weekly weather and crop report was about as bullish as expected and exerted no appreciable effect on prices. The crux of the report was that "cot- ton crop preparations in practically all sections of the south have been largely suspended. and this work is backward" ;"
 Private reports predicted the issu- anee of the revised government carry over figures tomorrow, although there wasSone report about 100000 bales con- tained in the government figures, and not included in Col. Hester's report, would be reported as actually existing. The general disposition here is to ex- pect a bullish report.
 The market needs new incentive. the continuance of bad weather will supply this, but the best incentive would be a revival of goods demand.-Leyy & Aronson to s. R. Stewart.
 NEW ORLEANS, March 1s.-The movement of cotton prices today was irregular from start to finish, with NA a( cts "A had some good sized buIges, but these mostly met with rather free selling, and they did not hold, though the market seemed to show stability to resist prea- sure for, quite time. At one time old crops position sold 26 net higher and the new 26, but the old ended the day slightly lower, while October was about unchanged. Freezing weather and snow or sleet in the northwest. rains in the southwest, report of a disturb ance over the lower Rio Grande that is apt to bring rains and winds into the eastern section overnight, large spot sales at Liverpool and more cheerful cables were the early buIlish influences. Much of the days selling was stimu- lated by reports from New York to the effect that the revised figures of the census carry-over-is likely to sustain the estimate of 3065, ,000 bales issued by the bureau February 1. There was also taIh to tue eI1ecL that the final gtn- nings may come large enough to affect sentiment. Later in the day shorts covered @ good deal on local predic- tions that the expert commission will make big reduction in the census carry-overs Trade interests were good buyers during the day. Tomorrow's market is apt to be shaped largely by the character of the government's re- ports. We expect the ginning figures to be full, but the weights are likely to be light. We also expect the experts findings on supply to be bullish if made pnblic.-Fenner & Beane to Kahn 6 Virgin.
 NEW YORK, March 1s.-The market has been flooded again with bullish spot and crop news, to which 1t con- tinues, however, to turn a deaf ear. Such minor rallies as take place run Into fresh selling from one source or another, and in the absence of any well organized support fade away rather easily, with the market acting as If aggressive tactics by bearish operators would meet only a limited and \com- paratively feeble resistance. Construc- tive action has been hampered by the prosgress of the bonus bill toward be- coming a law and by the delay in af-