The Birmingham age-herald., 1924-12-02
COTTON IEITERS

 l the interests that have been most active today in selling cotton it appears that much of 1t has been short selling Tn anticipation of lower prices before the | final bureau report. Of course there is practically no basis for doubting that Washington will add to it's figures ana so long as the supply of cotton is in crea sing in the minds, at least of the trade. without a definite offsetting inn proyement in consumption sentiment will be largely against the market.- Steiner, Rouse & Stroock.
 NEW ORLEANS, Dec. 1.-The mar ket remained in process of liquidation l today in advance of next Monday s government annual crop estimate and report as to ginnings to November 3O, values ruling lower in consequence. Cables were lower than due, attributed to private advices, free hedge selling and long liquidation Of Mancnester stop | loss orders caught.
 There was heavy liquidation of all po- sitions in the American markets during l the session.
 Returns to Clement, Curtis, Chicago, indicate a yield of 100000 bales and F, ,224 ,0O0 bales ginned to the close of November last year. To the end Of November, 2243,000 bales were ginned | ~N 1920, when the yield in bales of 50O pounds gross was 13,440,000 bales, only 10, Al 900 bales were ginned to the close of November.
 Wednesdays weekly weather and crop l government report will likely be favor able, except for low temperatures, which made another favorable wek for pick ing and ginning cotton, when crop re- mained ungathered.
 Lr,.;I Gt probably make another bearish showing since the worlds visible supply, which Is already 4,19OOO0 bales against 4,0S7, ,OOO will likely increase largely for the week as against an increase over the same week last year of only 10000 bales--H. X B. Beer to J. F. Willingham & Co.
 NEW ORLEANS, Dec. 1.-Cotton opened under pressure today with sell ing orders increasing after first sales Liverpool was somewhat worse than due and additional bear operations were widely expected in view of the possloil- ity of private crop reports this week indicating a census report for more than 13,OOO, ,O00 bales on December $. A fea' ture of the opening was the first Chi cago quotations on the opening or tne cotton future market in that city. Trad ing continued quiet and prices easeo further during the second half or tnt morning. The decline was despite some favorable spot demand reports and favorable goods demand report from Manchester.
 Clement, Curtis issued it's crop esti' mate for 13,OO0,OO bales lint and gin ming of 12,224OO0 bales. This estimate was probably a shade smaller thar widely expected.
 The weather map was dry and cleai with temperatures Seasonably low. The weekend trade reviews were optlmistl' and goods centers reported some I'm provement in distribution. one caoit from Manchester said, "Cloth business Increased last week." But the trade news was not distinctly bullish and was no' sufficiently strong to contend Witr larger crop ideas. Liverpool capied Una the undertone was poor under rree neus ing selling and long liquidation. Looi for lower market.-Levy & Aronson t' s. R. Stewart.
 NEW YORK, Dec. 1.-Cotton was sot 1 all day. The main reason given was th' weight of the bales pressing on tn' market directly through hedge selling and by absence of support. LiquidatloI by election longs was feature. Lo cal traders sold while some of las weeks sellers covered. Exports Wer' 199 OOO bales. The market is discount ing an expected increase in the govern ment estimate of December 8, as com pared with the last indication. Loca crop ideas are now 13,25OOO0 or over.- John F. Clark & Co.
 NEW YORK, Dec. Fear of large private estimates and the government report brought heavy liquidation today from all directions. There was a rumol of local firm coming out with al estimate of 13,600,O00 bales, but nothing official was had from them. The tech nical position of the market has beer materially strengthened by today's sell ing and we believe the south wil strongly resist any further declines ant think purchases are in order.-Fennel & Beane to Kahn & Virgin.