The Birmingham age-herald., 1924-03-07
COTTON LETTERS

. NEW YORK, Mafch 6.-LtVerpoot was considerably better this morning, reflecting good. demand for cotton from the continent. This also was re- ported to have been reflected in the south, where considerable spot cotton was sold for Germany and Russia. It is Interesting to note that we are re- fIecting a demand at this season of the year, which used to appear before the war and which has not made it's appearance since 1914. That Is to say, a demand from Russian and German mills, who, previous 10 the war, placed their orders at this time for cotton in anticipation for goods from the nearest in the summertime. It has also been reflected in better buying of the oc- tober position. While there Is not 0 ,nerceptible increase in the volume of
 'siIfess in domestic dry goods mar
 $, there Is, nevertheless, q much bet- Ter undeftone, and spinners are i'm
 ined to mark up prices and hold, for hey are refusing to meet the ridicu- ieusly low basis that has existed. Al change in the feeling of the market; and, as there are more rains in the belt beginning to delay early spring flowing, indications point to at least
 further recovery in values. Liver
 ool futures are due tomorrow: May,
 '.7sd; July, 16.54d.-Hubbard Bros. <
 NEW YORK, March 6.-Firm cables sith bullish spot. and weather advices rave the market a stronger tone today and enlisted more support from those in the trade who feel that the selling has been much overdone and the de- cline has more than discounted the bearish features. At the same time, the sfispositiou is to regard the market as a trading affair for the time being. pending some constructive development In connection with either goods or the new crop. Those who buy on the dips are therefore inclined to accept mod crate profits when in sight, and there Is still lack of confidence in such rallies as occur, as 1t is fully realized that e renewal of aggressive selling by speculative interests would force prices down. again, if only temporarily, in the absence of demand from mills. The explanation of the severity of the decline appears to be that this crop has been hedged in part twice.. first by the merchants who bought from pro- iucers and later by mills who bought from merchants and became worried over the lack of urgent; demand for their products. That demand is likely to be better at present levels and pres sure from mill hedges will be corre- spondingly less while apparently hold CTS of the remnant of the crop are not disturbed by the decline.--POst & Flagg to Shannon & Co.
 NEW ORLEANS, March 6.-The cot ton market made good showing Thursday. The advance was on ia good Liverpool and more encouraging spot news. tt
 near positions for the highs of the | En nnfA Liquidation toward the close probably induced some selling.
 Early dry goods reports were not en- couraging, but later adviceS were more optimistic. Several interior points re- rorted better spot demand, with the
 isis higher. The local market said re was better inquiry than for some 'eraI weeks. 5s
 here seems to be some improvement
 nills' activity, although hope was essed the big curtailpent was over. e days advance was in the face of
 etter weather map and forecasts of Yerally fair weather.
 The Southern Products company estf- mate of an increase in acreage for the entire belt of only 3.4 per cent probably had a stimulating effect on prices. Comparisons of takings tomorrow may be more sfayorable than recently. Hope Is still held out for settlement of ku0 MauCnehtst lOCROub pEoptSAA 7dhu Q late report said the cenference of op- eratives, and employers /had been ad- tourned until Monday.
 sA Exports were smaller today. Dry &oods news remains the important fac tor. Until real Improvement comes into the trade eenters, we do not believe ad- vances caH be maintained.-Levy & Anderson to s. R. Stewart.
 NEW ORLEANS, March 6.-The news that came to market today was
 costly of a stimulative character, and
 cices responded with an, advance of S7
 1ints for the old crops and 65 for the
 ew. Realizing in the late afternoon
 IS somewhat heavy and some o. the
 n today was lost.
 Rains In south Texas, freezing tenn ature in the northwest and general
 leavy rains in the eastern belt anG
 pg cables stimulated buying at :he
 |. Later on, reports of good spot
 and at many points claim that some
 1e big spot houses as we'll as New
 ord spinners were buying cotton
 " at Fall River, and sharp ad-
 ance in the basis kept enthusiasm we'll +ustaiped. 4 rumor was also in circu- ation to the etfeot that rhe co-opera-