The Birmingham age-herald., 1924-03-25
COTTON. LETTERS

NEW YORK, March 24.-The market has been subjected to continuous and severe pressure promoted by a sharp break in Liverpool and by glimpse of better weather in the belt which apparently brought about a decision on the part of some who had been hesitat- ing about selling to act at once. Large blocks of May and July were dumped on the market by brokers with Wall street and western connections. At times there were minor waves of cov- ering and the trade was considered fair buyer at the new lows reached, but the demand as a whole, while of much better character than the selling was far inferior in quantity. Advices from the Goods market were depressing and bearish, operators anticipate that the break today will encourage buyers of goods to procrastinate further and per- haps bring on further selling by dis couraged mills. The situation is very complex and unsettled, but the best buyer n the world is a frightened short and there is host of shorts in this market.-Post & Fiagg.
 NEW ORLEANS, La, March 24.- Cotton was under heavy pressure from start to finish today, and 1t gave way 150 points for the new crops and 151 for the old. A favorable turn in the weather seems to have been the chief factor in starting the selling movement, as 1t eliminated the one element that was holding the desire to sell in check. Pressure on the market induced good many disappointed longs to liquidate, thus adding to the volume of offerings which the market was compelled to ab- sorb. Selling was stimulated further in the afternoon by reports of another cut in the price of bleached goods and print cloths in Worth Street and of continued, poor demand for dry goods. The map and the forecast both indi- cate the probability of a return of un- settled weather in 8 day or two, but two days of sunshine caused a large volume of selling that could not be stopped. Additional reports came in from southwest Texas telling of un- favorable conditions in that section and confirmed earlier advices of Satur- day. Many shorts will want to cover after the March tenders are out of the way, as the market is heavily over sold. Sentiment is strongly bearish at the moment; however it looks like something out of the ordinary to check the selling movement. Lower prices. therefore, appear probable before it runs it's course.-Fenner & Beane to Kahn & Virgin.
 NEW ORLEANS, March 24.-An av- alanche of bearish news with also no supporting features caused a heavy de- cline in the cotton market Monday. The close was weak, down $7 on May and $5 on October. Liverpool was dis appointing. The weather map showed generally fair over the entire belt, with temperatures somewhat warmer. Dry goods news was even more pessimistic than recently.
 During the morning further curtail- ment of print cloth production in east ern mills was reported, and during the afternoon new low prices for bleached cotton goods and print cloths were re- ported announced. There was some heavy liquidation and selling by large operators, and ring sentiment was dis tinctly bearish.
 To add to the weight on the market, Washington advices were to the effect the census expert committee on the carry-over may issue a bearish state ment. This, however, was largely dis