The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1924-04-11
COTTON MARKET

NEW YORK, April lot has been an
other nervous, errauc market with sharp
fluctuations, but on the whole offerings
have been wei taken considering the
price and the fact that improvement in
the goods markets has not as vet been
broad or general enough to imply that
accumulatons will be promptly absorbed
and until that process has gone further
demand from mills will remain limited
and advances in contract markets will re-
suit chiefly from covering by shorts which
may slackene without notice. Near. months
continue relatively strong with the opin-
Ion expressed that there is no more than
$4,000 unsold in local stock and that ship
ments will presently start in volume with
no source left on which to draw to re-
pair the losses. Allowing for reactions
at times the outlook appears to be for
higher prices before the situation can be
liquidated.-Post & Flasg to Shannon &
Company.
NEW ORLEANS. April 1o.-General
rains over the belt forecast OF more.
crop delay reports strong spot news and
optimistic cables. were the stimulating
influences. Some realizing developed on
the first bulge and values slipped little,
steady until around middle of the session.
when the weakness in stocks and pre-
dictien 'of consumption of $4,000 bales
for March increased the disposition to
take profits and encouraged some fresh
selling. The acute spot situation was
kept to the front by reports of big de-
wherever spots are available. Reports
from most sections also told of the seri-
GUS situation confronting farmers on ac-
count Of the bad weather. The market
appears to have entered the stage where
wide swings likely to occur. We ex-
poet the weather and spot news to work
in favor of the buying side.-Fenner and
Beane to Kahn and Virgin.
NEW ORLEANS. April 1O-There being
no abatement in the demand for spot cot
ton in Liverpool, sales there of 10000
bales again today. of which $500 were
American, and as the weather remained
unfavorable in the interior with rather
general moderate to heavy rains. the mar
ket experienced another big advance at
the opening today. Extensive realizing
at the advance, however was at the ex-
pense zoe values in the early morning and
as II is reported that returns to the Ma
tional Ginners association point to only
about 10000 bales of lint cotton as
having been consumed in the United
states during March against sos. 900 In
February OF this year and $1,000 for
March OF last year, the market declined
cially for desirable grades. is reported in
excess OF offerings in the interior and
at the ports due 10 light offerings, other
wise sales would be larger Meanwhile
climatic conditions inland remain Eener-
ally unfavorable; too wet TO permit sat
lsfactory progress of farm work in prep.
GRAFTON Tor the next crop.-H. & B. Beer
to j. F. Willingham & Co.
| NEW YORK, April 10-Another very
sharp advance equivalent to 20 American
points took place in Liverpool this morn
ing Our market responded, but imme-
diately ran into heavy LIQUIDATION and
some short selling on the principle tina
present prices fully discounted the sit
uation for the time being at least Later
in the day. the market again eased OF
rumors that the National Ginners woult
show consumption for March arount
4SS, coo bales. Reports from the dry good
district etlll indicate that the demand
for staple goods is holding WELL but tn,
demahdi sfor fancy goods is very poor
After tbs recent advance. some reaction
would not be at all unnatural. Liverpool
futures are due tomorrow: May. 1S.47d
July, 1f.6Sd.-Hubbard Bros & Co.
| NEW ORLEANS. April 10-Cotton wa,
good trading market again Thursday
with fluctuations fairly wide. Early
buying which ran prices on May up S. 1
bale. was stimulated by a strong Liver.
pool and n buliish weather map Liver.
| pool was IS to 40 penny points better
than due. with spot sales 10000 bales
and good proportion of American Lfv.
erpool trade advices were optimistic, witt
Manchester reported as still doing good