The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1924-04-06
COTTON LETTERS

NEW. YORK. April s.-AithouEh many
teel that the market is entitled to some
There is NOT enough confidence in that to
induce fresh selling for short account
as yet isnufficient volume to bring It
about and realizing is readily absorbed
even at the new highs reached for the
movement The Improvement in trade adj
vices. both foreign and domestic has un-
dermtned the confidence of operators for
the decline aud the statistical position Is
such as to preclude any large volume OF
hedge selling unless it comes from the
mills In view OF the unexcelled buying
ment abroad it is hardly safe assump-
ton that those who need cotton goods
VIII not Try to buy them eventually at
the moderate advances required to enable
mills to break even or possibly secure a
fS1r margin of profit. The actual differ
encs to the ultimate consumer between
goods made out of 30-cent cotton or out
OF 4e-cent cotton is too slight to be of
any real Importance. unless il. is heavily
padded by those who handle the goods
between the mills and the Consumer
rost fiagg to shannon & Co.
NEW ORLEANS. April s.-Recent de-
dSmentals in the cotton situation are
sound While the present and prosnec-
tive statistical position Of the staple were
suonE. the recent apathy in the
oomesuc cotton goods market, which was
Of long duration. seems to be improving
and as European conditions are better
ma steadily Improving especially in Lam
SSshire. general conditions have changed
LOT the better Foreign exchange contin-
ueo 20 rule strong. especially sterling
PROBABLY reflecting expectations for fav-
rsparation report, due early next week.
perhaps Monday or Tuesday H. 4 81
Beer to J. f. WillinEham & Co.
NEW YORK. April 5.-Thsre was an.
other rush of buying on the opening this
me- am I carrythS the market to a new
n .h tevsi where sufficient realizing over
me weekend made ITS appearance to
Sheck prices, OF course the dry goods
G@de continued TO show decided Improve
meat ..4 In american dry goods market.
exehanSe is again up some 4 points TO-
uye. Wnlch wii mean At least 10 per
sent sent increase in the buying power OF
Great Britain in this country for raw cot
ton The weather continues unfavora BILE
% the Atlantic states and cloudy in the
western belt and further rains over
pectsd. but on the other hand. we have
nao such q remarkable recovery that a
good substantial reaction can be expected
At any moment. whether this will come
or not will depend upon the weather and
the demand for dry goods, Liverpool fu-
tures are due Monday: May. 17ssd. July,
ls2Sd--Hubbard Bros.
NEW ORLEANS April 5.-cotton
rushed. forward into new high grounds
s ei.s saturday under the stimulus of con
peter trade. a favorable Liverpool and
bad weather map and forecasts. New
YORK reported dry goods in better de-
masld- with large sales in those markets
rFoSy. amounting to as, much as 400 600
10 100000 pieces Of cloth Prices were
lows. S recent
There vas profit taking during the
morning which was widely expected. but
an aaSanee OF approximately 4 cents in
the Sterling Exchange rate stimuIa ted
VoJ tnS: IhiS shap advance was taken
as Indicating favorable reception Of
D&ses report on reparations.-Levy q
News. YORK. April 5.-Rafns in the
eastern bert, more favorable spot reports
as veil as large spot sales in Liverpool
caused firmer opening Most Of the
buying came from trade interests. cam
mission houses and New Orleans Spot
interests Were the only sellers, but as
their selling was limited the market
seemed 10 absorb, the offerings very read
ny me market was also fayorabIy az
fscted by the bulIiah Statistical anaIvsis
by the department OF Commerce. which
estimates the total supply in ITnited
states on February - at T. $50. asa AGAINST
S.s40,033 last year. New high Levels we're
reached on the advance, May selling nm 10
sense At this price. CONSIDERABLY resIiz-
lng took place on the belief that the too
rapid climbing OF values warranted : re-
eetion---Fennor Beane to Kahn q Viz
me $4,000" Thai Is tho e,o-no1 con