The Birmingham age-herald., 1924-06-18
COTTON LETTERS

NEW ORLEANS, June 17.-The cot ton market ruled easier today because
 of lower cables and owing to contin
 uance of favorable crop weather in the interior, no rain of consequence west of the Mississippi river and scattered showers in the east portion of the belt. Claims of damage from excessive tenn peratures' in the southwest, especially in Texas, are rather too early since hot and dry weather was essential for prog ress of plant and for redeeming foul fields. In a midmonth crop review, Montgomery, Ala, spot house reports since June have had ideal genuine cotton weather. Wherever the land was well worked and the plant clean of weeds and grass, 1t responded readily to this favorable influence; consequent ly a great improvement has taken place in the entire cotton belt since June l. continuance of hot weather, which is called ideal, is greatly desired and would improve prospects materially. There was no appreciable change in the heat wave over southwest overnight; and, while generally fair and continued warm weather Is predicted for east and west Texas, the map indicates prob- ability of cooler weather. perhaps scat tered showers over north portion. In Texas there are numerous reports of grasshoppers= doing considerable dam-' age, offsetting to some extent in localt- ties the benefit that has come of the dry, hot weather.
 Compared with last years exports from the United States, today 1S,O0O vs. Il 1,000; since Friday, 36,000 vs. 300O0; thus far this season, 5,336 900 vs. 4,355, 900, leaving stock of all United States ports today 320,00O bales vs. 336,0O0. New York reports cotton goods quiet, yarns weak. half to two cents lower on carded and combed numbers.-H. and B. Beer to J. F. Willingham & Co.
 NEW YORK, June 17.-There was practically no feature of importance during the entire session today. The opening was rather quiet, with a scat tered demand for Julys, which made the premium between October and July slightly wider than at the close yes- terday. There seems to be no definite information to. be had regarding the July contracts, which seems to resolve itself into just sWhat the holders of the New York stock intend to do with the cotton. Of course, we hear the talk that if the premium for July goes much further over October 1t will attract cotton from the mills as well as vari- ous points in the south. This fact will have a tendency to cause July to hesi- tate. There is no denying the fact that cotton has made fairly good progress in this last week, with reports from Texas indicating that the farmers are getting in good work and doing a great deal of cultivating. With two or three more days of good weather like that which we have hadt great deal will be accomplished toward putting the crop. in better. shape. However, it is still early, and the crop being late as it is will have to be in first-class condi- tion very quicklyt to be able to weather the summer months. There seems to be a moderate demand for contracts under the market from the trade, and this indicates that cotton at a slightly lower level of price Is attractive temporarily. We may have some setbacks on good weather, but if temperatures continue abnormal, as they have in some cases, we will find the market advancing again.-Hubbard Bros. & Co.