The Birmingham age-herald., 1924-12-31
COTTON LETTERS

NEW ORLEANS, Dec. 3o.-Under- tone of the market was not so good today owing to some realizing, infiu- enced by larger world supply state ment. While the worlds carry-over z, for the close of this season July 3!, 1925, Is estimated at 7,796.000 bales, 1t | would compare with last years small | est on record of 5,933,0OO and would compare with the 5-year pre-war aver age of 9,0O0,0O0 to 10,000,000 in the lslo the worlds carry-over of all kinds was 14, ,752,0 ,00O bales, of which American alone was 9,35l 1000. Exports from the United States continue free since Fri day 12SOOO bales vs. 1S8,000 last year, thus far this season 4,19S, ,000 against 3,1S4,000. The cotton goods markets or the north are somewhat more active and tending higher. There having been some improvement in the demand for goods. In view of prospects for the continuance of large exports, from the United States and probably large mill takings we favor buying for turn.-H. and B. Beer to J. F. Will lingha m& Co.
 NEW YORK, Dec. 3o.-Towards the close of yesterday some profit taking appeared and this profit taking con tinued today, catching some stop orders | The liquidation was of very mild character and can be attributed more to profit taking than anything else It was evident that the trade still con tinued to buy, for they absorbed con tracts the way down. Some selling of October took place on the beneficial rains that fell over Texas. The mar ket continues to act very steady and it is quite natural to have these set. backs after advances like we have had in the last week. The action of the market seems based on continued talk of gradual expansion of trade and the belief that the coming year much larger business will be done through
 out the entire world. The declines to-
 day can possibly be attributed to the
 uneasiness in the stock market. Trade
 reports continue to be favorable ant
 the spot, situation is very steady throughout the belt. Liverpool futures
 are due tomorrow: January, 13,25ci
 March, 13.32c.-Hubbard Bros. 6 Co. \ NEW ORLEANS, Dec. 30.-Traders | in cotton were more in a mood to cast their profits than to take on new com
 mitments over the holidays and price:
 slipped 20 to 30 points. Estimates from
 the department of agriculture of world;
 crop of cotton of about 23,300,0O0 bale:
 this year compared with 19,300,000 las
 year and a five year pre-war average
 of 2s. .5sO. .OOO furnished the incentive fol
 most of the selling, as it shows an in
 crease of four million over last season
 There was also reported to be som'
 selling to fix income tax returns. WV
 believe the underlying influences ar'
 bullish and that. reactions will prov'
 temporary.-Fenner and Beane to KahI
 and Virgin.
 NEW YORK, Dec. 30.-After opening about unchanged, the cotton marke came under the pressure of southerI selling, liquidation by smaller longs ant some local selling, this increased dur ing the day, the lowest prices beini made in the afternoon on stop orders Support was rather indifferent durinl the entire session. Gossip around thu
 room was that the large longs wh'
 came into the market recently stil , have the bulk of their cotton. Tn only item of news that might be con strued as bearish was the governmen
 figure on world production of cotton nearly 5,000,000 more than last season Sentiment become more doubtful as t ) whether under existing supply and de } mand conditions cotton can be sue 7 cessfully pulled from this price.-Johl l. F. Clark & Co.