The Birmingham age-herald., 1924-12-09
COTTON LETTERS

NEW ORLEANS, Dec. S.-Final esti- mates turned out to be some smaller than expected and values climbed 50 points when trading was resumed with March selling up to 24.02c and January to 23.95c, most of the advance was lost later on realizing and selling brought on by denial of reports that all mills at Fall River had reopened. A report stat ing that 12 mills at Fall River had re- stunned probably had much to do with the early strength of the market. It is now claimed only one mill there has re- stunned.
 The ginnings were in line with expec- tations. The government has had two estimates from the ginners within a period of two weeks as to amount of cotton to be ginned. It's two estimates based largely on this information vary only 161, 900 bales. It is reasonable, therefore, to believe that today's esti- mate is substantially correct and the world will undoubtedly so accept it.. The only argument We hear from the bears now is that the world will not take a $13,153, ,000-bale crop and 800,000 to 850,000 bales of linters at prevailing prices.-Fenner & Beane to Kahn & Vir- gin.
 NEW ORLEANS, Dec. s.-The gov ernment's annual crop estimate and re- port on ginnings to December 1 fell a little under general expectations and the market advanced in consequence. The worlds textile trade Is better and expected to continue to improve, but it must of necessity continue to improve if this seasons worlds consumption of American cotton is to reach the maxi mum of private estimates for a total of 100000 bales. Sentiment is nearly all speculative, markets remain bullish and this feature of the situation Is a sus- taining influence and has to be reckon ed with. Looking ahead, the trade is anticipating probable bullish develop ments in the following order: Decem- Der 10, monthly report of the United States Steel corporation as to bookings during November which Is expected to be bullish; about December F, British Board of Trade for month of Novem- Der, which is expected to be bullish; December 13 or IA, falling on Sunday, United States census report as to con- sumption in the United States during November, which is expected to be bull | ish, and as to domestic mill stocks as well.--H. & B. Beer to J. F. Willingham (, Co.
 NEW ORLEANS, Dec. s.-Cotton was firm in the early trading Monday. Prices opened about unchanged, fluctuA- tions being 10 points higher in the first | half hour. Liverpool was a shade bet ter than due shortly before the opening here.
 The weekend cotton goods trade were somewhat more cheerful than that of Saturday. The report that 116 New England cotton mills, which employed 1 10000 men, have resumed full time gave decidedly buliish tendency to trade pros- poets.
 | The weather map showed rains in the eastern and central belts and some in the southern portions of Texas. Tenn peratures are low in the northwest but high elsewhere for this time of the year. The exchanges were strong.-Lvy & Aronson to S. R. Stewart.
 what the world consumption of cotton may be under an ample supply and at fairly reasonable prices. Prior to the war the world used fourteen and half million bales and that was before the motor cars used so much for top and tire fabrics. At these levels it is also likely that a certain amount of cot ton will go into the building up of reserve stocks and invisible supply below normal quantities as a result of the successive short crops.-Steiner,
 Rouse & Stroock.