The Birmingham age-herald., 1924-05-22
COTTON LETTER

NEW ORLEANS, La, May 21.-Cot- ton has been a good trading affair dur ing the week, with the price trend up- ? ward. The market has been largely i'm fluenced b ythe continued unfavorable weather reports, particularly in the last several days, and in this connection the approach of the first census crop condi- ton report due June ha had stiEn- uIatfng influence on prices. General trade conditions have remained bearish and the adoption of the soldiers bonus bill over the Presinenrs veto was a temporarily unsettling factor. but with foreign conditions still reported good and exports flowing out freely, poor domestic demand for cotton and goods has been largely offset. A continu- ance of this balance between domestic and foreign trade conditions promises to maintain the cotton market mostly a weather affair. The market will probably continue a good trading affair and we believe purchases on all good recessions will prove best.-Levy & Aronson to s. R. Stewart.
 NEW ORLEANS, May 21.-The trend of values appeared upward in exports from the United. States. more wet weather inland, prospects of buIlish spinner tal.jngS Friday and probably a bullish crop condition government re- port June 2 There was further sharp advance tdoaY as a result of rather general light dp moderate rains inland, more favorable prospects for reduc- ton in income, faxes and because of a bullish weekly weather and erop. gov ernment crop review. Manchester trade advices are encouraging, China raising bids for slNeetings, but as yet no important transa ctiOns have materi- alized. Meanwhile, New York dry goods market remains full but steady with last year exports front United States since Friday totaled 57,OA9 against 20,- OO0;. since August l, 5,l2s,OOo against 4,-19e, 600, leaving stock ax all United States ports today 366,000 q, ,sainst 4O5,- 900. In addition, there is on shipboard at New Orleans today await ing to be exported 29,000 against 13,0O0y Calves ton, 1b0o0 against 11,000, and t,1ere are pessimistic rumors of large sHA Aoments in the near future from gulf and south Atlantic ports to Russia.-H. & B. Beer to J: F. Willingham & Co.,.
 NEW YORK. May 21.-CabIes tlo,lay were strong, owing to reports of re- our market displayed strength from tn . opening. Rains, heavy in places, an d low temperatures reappeared in theN western and central belts, leading to some covering and a moderate amount of trade buying. Prices were at one time half a cent a pound above last nights close. The reappearance of this bad weather is most unfortunate, as the crop needSt clear, warm weather. The reports on the condition are made up as of May 25 and the local feeling Is that the unfavorable conditions this week will lead to a low figure. There is certain amount of belated cover ing in May, although the certificated stock has been slowly increasing the past few days on shipments for delivery from American mills. As yet, there Is no change in the goods situation which continues very bad, but some slight improvement is looked for should we have more seasonable weather through out the country. We should say that today, as a result of the change in the south, sentiment here was slightly less pessimistic than recently. Liverpool fu- lures are due tomorrow: July, 16.90d; October, 15.11d.-Hubbard Bros. & Co.
 NEW ORLEANS, May 21.-Public in- terest in the market broadened consid- erably today as result of further rains and very bullish review of the condi ton of the crop. Expectation of low condition estimates from private bureau as we'll as from the government as a result of recent unfavorable weather conditions and reports from Washing ton to the effect that a compromise tax reduction bill had been agreed upon by the conferees that was acceptable to the President played an important part in stimulating buying and sustain ing the advances. May was strong in spite of the increase in certificated stocks here and renewed talk to the