The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1924-03-22
COTTON LETTERS

NEW IOHh, MafCn Il.--l ne nudfhSe
has been supremacy dull with no fea-
ture for comment, as the trade is wait
ing for something TO turn up. Weather
advices continue poor but so does adj
vices regarding textile trade in this
country, though things seem looking
up abroad. At times the market looks
sold to an absolute standstill. but II
that is the case, nothing arises to stfm-
ulate enough support to produce any
results, and prices back and fill in the
same tiresome way. Many feel that q
change would come without warning
and render the important bullish fac
tors effective, but others are appre-
hensiye of fresh selling by discouraged
mills that are finding no outlet for
1 their goods through usual trade chan
nels. It seems not time for either
a decided view or stand either way in
the market.-Post C Flagg to Shannon
& Co.
NEW ORLEANS, March 21.-Cotton
continued steady but dull affair.
The weather continues unfavorable. It
is realized that it will take week of
warm, dry weather to offset the recent
heavy precipitation and cold. The
weather has delayed prospects in i'm
portant sections of the belt, and while
1t Us too early to give full sway to
uuhiSh ACcltuS On the WedtueT, the crop
has bad poor start and the present
delay will make continued unfavorabIe
| weather all the more bullish.
| Liverpool started to make a good
showing. but turned soft just before
the opening. Spot sales were small and
cables reported poor spot demand.
Threat of a transport workers strike
In England probably had an unsettling
effect.
The main impressive feature is the
failure of dry goods demand to i'm
prove, despite lower prices and a rela-
lively steady cotton market. Fail River
sales were reported at only 5000 pieces
for the week. There were reports Of
further curtailment by large Rhode
Island mill, which will affect fancy
goods, which heretofore have been
largely untouched.
Weekend figures were disappointing,
with takings only 10000 bales, against
227,O00. last year, and a reduction in
the American visible of only 60,s15
bales, as compared with $4,000 last
year., The American visible continues
to run larger than last year, exports at
more than 100000 bales larger than last
season is Fundamentally bullish fac
tor.
The revised government carry-over
figure is now expected Monday, and Is
We prefer sales on bulges until goods
demand imprpve.-Leyy & Aronson to
expected to be mildly bullish. "
8. R. Stewart.
NEW ORLEANS, March 21.-The cot.
ton market was a small, narrow affair
today, but it was strong and efforts
to depress 1t met with no success. Re-
ports that the committee of experts
going over the census figures on carry
over had found serious errors in its
1922 statement, as well as that of 1928
and would be forced to make a mate
rial reduction in its estimates were
current. Press dispatches also said the
report was expected to be made pub
lie Monday. Rain in the eastern belt,
continued cold in the west and pros
| poets of more bad weather from a dis
turbance over Colorado and unfavor-
able crop news from southwest Texas
| were, however, the real stimulating in
fluences. Advices from the Rio Grande
section claimed about half of the early
cotton would have to be replanted on
| account Of the recent cold, and that
planted in the Corpus Christi section
was not doing well. Rumors that a
big trader, who has heretofore been
bearish, had covered and turned bullish
did much to influence sentiment. There
were also reports Of large sales by one
Of the co-operatives in Texas to a SPOT
house, and officers of the co-operatives
issued statements saying their combined
holdings were only about 900 bales
| spot news continues to improve. The
ability to withstand pressure was an
other market feature showing bullish
sentiment. The buying side therefore
looks best, especially in view Of the
unfavoEable weather outlook and pros
pect of reduction in the census carry.
over figures.-Fenner & Beane to Kahn
& Virgin. -
| NEW YORK, March 21.-Slikhtiy
higher cables caused a moderate up
turn on our opening, but business was
SO small with little or no interest from
outside that prices slowly sagged off
with the market turning extremely dull,
sentiment regarding the weather is ex-
tremely mixed. The majority are in.
cllned to look for an improved man
over the weekend. We are Informed
by wire from Dallas that the low
area now over Utah Is expected to
move down into Texas, causing an
otner wet spell. If this be the case
we can expect prices to reflect this bad
weather. Weekend statistics are con-
strued as bearish, and there is CON
tinued talk of little doing in dry
goods though most firms will admit Of
doing considerable business In small
orders. This would hardly reflect it.
SER In current prices of futures. There
was some talk on the floor Of the New
YORK stock being exported with the
continental demand, which Includes
Russia and Germany, of which we have
heard much lately. This talk may be
forerunner Of action on the part OF
exporters. The market is still a local
affair awaiting further DEVELOPMENTS.
Liverpool Futures are due tomorrow
May, l6's2d; July, 16.57d.-Hubbard &