The Birmingham age-herald., 1924-01-29
, COTTON LETTERS

NEW YORK, Jan. 2S1-Cables were abou tas due this morning, but our market opensd at . slight decline and was rather heavy through most Of the trading. Sentiment Is now so bearish that little or no attention is paid to anything except the lack of fresh de- mand and the difficulties of domestic goods trade, difficulties which are prob ably no worse now than they were a month ago. It is reported that curtail- ment is increasing among the southern mills. It has been known all season that there must be. . steady increase In the ctrtAilmeht if there Is to be any supply of cotton carried over into the new crop. At the moment, however, the lack of fresh speculative business and the small demand from domestic mills have made sentiment very pessi- fnistie as to the immediate future of prices. The firm undertone would be Surprising under these conditions, if it were not for the fact that the supplies are Sd small this season.
 Liverpool futures are due tomorrow.
 March, le.41c; May. 19.a4c.J-Hdbbard
 NEW YORK, Jsn.. Le.--We have had again . dull and uninteresting session, prices being made by professional trad ing almost entirely. In the carly part some comment was current about the recent business having been put through in Worth Street, but when it k admitted that this was done by sec und hands at prices distinctly lower than first hands were unable to meet, the situation can be said to remain un- changed. It appears that tho trade As a whole Is watching Worth Street more than they have for the past several weeks turning away from the builish statistics and the confident belief that the demand must come for goods, and now realize that Worth Street only can furnish the incentive for substantially higher prices.
 With the return of good weatfer in those sections where preparations for the new crop Is due, buyers are likely to become mere timid, thus increasing the taficulty of sustaining any ad- yances of consequence. = Fenner 6 Beane to Kahn Bros. & Virgin.
 NEW YORK, Jan. 2s.-rhe convic. ton that the high price for cotton has been seen this season remains strong in some speculative quarters, though some of the best in the trade itself are not in sympathy with that idea, but believe that textile industry will pres sently begin. to share in the greater activity manifested in other lines and that efforts to secure supplies will re- suit in secondary upward movement, the extent of which will be increased Sy COfcTthB tne large snort interest which has grown up for both specu- lative and trade accounts. For the present. however, any report of cur tAilment Is taken as an encouragement to sell, especially if 1t comes at time when some small rally has occurred.
 Aggressive selling will force a lower level in the absence of any broad de- mand to afford resistance, but any 'ef- fort to cover would be followed by a sharp advance since both the technical and statistical position is very strong and only a touch is needed to make them effective.
 Stocks: Again today the oil lease scandal has held the center of the stage, and in Washington it has no doubt weakened the hand of the oonserya- ttves, at least for the time. This has been reflected in very uncertain stock market, and ever since the scan. dal first was noised abroad the mar ket has been very irregular. News on the tax matter is not conclusive. We understand that the question of sur taxes is to be taken. up by the House committee during the week. and this is most important. The market has been very autive, but uncertain in tone all day, and is closing somewhat lower than 1t did on Saturday. Sales, 1,2gO.- 20O.-Post & Flasg to shannon G Co.
 
 Human slavery and the pratice of sacrifcing slaves at religious festivals still exists in the Naga hills, Burma, it is said.