The Birmingham age-herald., 1924-04-29
COTTON LETTER

NEW YORK, April .2S.-The decline this morning came rather a surprise in view of the steady market of last week and the talk Saturday of possible unsettled sts. Testhsr eyer the week
 higher exchange rate, better weather and pre-budget selling. On our side, locals and commission houses i. were principal sellers. while the trade bought mod erateiy on the dips along with some short cover ing Every one realizes the market Is trolied thereby. The next three weeks will be most critical and the trade Will do well tP note every report. of rain and the future course of Hriees. There is little outside, business at the moment. people can definiteiy form form their % opinion regarding the next crop and to date only few of the facts necessary to form 8 weather eontpue @ 4a1orsbie. S Me noueS can eae ae . versa: We must not forget: however, the make itself felt on any decline in our wI LiverpSoI futures are due, tomorrow; and Go.
 NEW ORLEANS, La, April 2s.-A dis appointing Liverpool, rather favorable weather map forecast. pessimistic dry market accounted for the lower prices
 The market was dull and lacked snap period, sentiment was uncertain and mostly bearish with the underlying belief tnat general trade conditions does not
 The outlook for the weather was con sidered favorable with warmer tempera- lures forecast for the western belt. :, There was a report Of good spot de- mand, from the eastern belt, but there Sas 1S deTSnd man here one private report 100000 an increase. of AS per cent as compared with last year.
 English cotton trade reports continue optimistic and exports for the day were agaln rE;l larger than for same day last year. This foreign news continues an important sustain ractor in the market.
 Domestic trade accounts continue pessi- misfic. the weather. outlook is favorable still believe sales on the buiges Will prove oest--Levy q Aronson. to s. R. Stewart.
 NEW ORLEANS. April 2s--Lower cables than due and further disposition 10 nouidate influenced market to R lower level today. E p Rains in southwest, especially Texas, particular in west part of the state. were made much of as being highly beneficial to new crop prospects.
 ., This feature Is. only q temporary in- fluence and while the plains and upIands were undoubtedly benefited by the rains, low lands have probably suffered because oL the numerous heavy to excessive rains river. pE'
 Inasmuch as showery weather con tnues to the east of the. river where dry, warm weather is needed; in fact, dry warmer weather is wanted in all sections Of the belt now, the weather of late can hardlyN be considered favorable as a whole.
 Now that all districts of the belt have recelved all the moisture desired except pernaps in the lower Rio Grande valley, there Is the possibility of too y,nuch rain .4 as planting and blowing Is in fun swing now and the best of climatic conditions are necessary during May lU permit com pletion Of planting and chopping ofN the crop to stand. A wet May would he considered very unfavorabIe for new crop
 Compared with last season exports from, sne ns united States today were 1I,O00 yE. e.oVV; since Friday. 23.e00 Vs. g. 900: thus Tar tnls season, 4,S34,000 Vs 4Os3. O0O-H & B. Beer to J. F. Willingham and Co.
 NEW ORLEANS. La, April 2S-open- Ing sales were 70 to 45 lower on account or the poor showing made by Liverpool and better weather over Sunday than ex-- pected. Early cables reported heavy pro fessional selling was for stop loss orders but were reported calling heavily The market hesitated for time after the de- cline waiting for posting of the map and oItlcial forecasts. Map showed very Iit- tIe rain and though the forecast was mostly for cloudy or unsettled weather the trade as whole interpreted the map as indicating favorable and warmer weather and started selling again. Weak ness in stocks encouraged the selling.