The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1924-04-01

legitimate influences are finally be-
ginning to assert themselves, pyices
would have a long way to go before
the short interest that has been accum-
ulating for weeks past can extricate
itself. The policy Of picking up con-
tracts on easy markets looks the best
even IL some Temporary losses have to
be faced.-Post 6 Flagg.
NEW ORLEANS. La, March 81
Goods and spot news were better Mon
day and prices moved forward rapidly
in the near positions after an early
downturn when, the market failed to
respond fully to,a very favorable Liv-
erpool. A. additional reports came
Into the market of better business In
Worth street and improved spot de-
mand the May position, particularly
at New York, began to stiffen and the
advance was 81 q bale here from early
lows. -
Spot demand was reported brisk here
with exporters bidding Is to so points
on May, New York, for middling cotton,
Interior points reported a strong basis
and good demand. Heavy short &C
counts both here and New York were
said to have sought cover under pres
sure from new speculative buying. :.
New York reports were Of much bet
ter goods buying at the new low price
levels and Manchester reported better
inquiry. mere was some STRESS uuT~
Ing the morning laid upon weekend
reviews to the effect that general trade
was slackening and further cuts in
steel prices at Pittsburg were taken
as q signal for caution. But as the
stock market held steady these fears
were discarded In the face of a strong
May position at New York.
The technical position of the mar
ket justifies higher prices upon more
favorable goods trade reports and
tightness In the spot division. Should
these factors lag In the news we pre-
fer caution on the long side in view
Of an outlook for clearer and warmer
weather and a. bearish weekly crop
report.--Levy & Aronson to 8. r.
Stewart.
NEW ORLEANS, La, March 81
The cotton market was the most cheer
full from a buyers standpoint today
that we had for some time. There
seemed to be more disposition to buy
almost from the start and the ease
with which the selling was absorbed
appeared to. upset sellers and later
brought on a considerable covering
movement. Palm Beach interests and
Wall street were. conspicuous In the
late buying evidently to get back some
OF their contracts. As a result of the
combined buying prices advanced 81
W - POihtS anu CIOSeu WltnIn a Kew
points Of the best. Strong cables, good
business at Manchester, better dry
goods news from Worth street, higher
premiums being paid for spot cotton
and SHOWS in Arkansas and northern
and southwest Texas were the upIift-
ing influences. The tightness of May
In New York probably has as much
to do with the covering as anything
as 1t was taken to indicate there may
be good foundation for reports that
the big spot houses will demand de-
livery Of large amounts iof cotton.
Trade interest and Liverpool were
among the largest buyers in New
York during the early trading. Late
cables reported the London strikes defi-
nttely settled and late wires from the
southwest told OF a norther which II,
was feared might damage early cot
ton. Sentiment is more favorable to
the buying side as result of the
days developments and further up
turn appears probable. The weather
outlook Is Observation-Disclosures &
Beare to Kahn e. Virgin.
NEW. ORLEANS, March Silver
pool was encouraging today, decidedly
better than expected and while Arneri-