The Birmingham age-herald., 1924-03-29

ing side as a result of the days de- velopments and the unfavorable weather outlook We believe 1t is still in an oversold condition and expect more covering.-Fenner & Beane to Kahn & Virgin.
 NEW ORLEANS, March 2s.-Cotton was two-sided and fairly active af- fair Friday, with prices higher the greater part of the time. There was selling wave during the afternoon which broke prices sharply, but the recovery put prices well above the previous close Early buying was on a strong showing by Liverpool and a bullish weather map and forecasts. Most of the belt was cloudy, with scattered light rains in the west. The forecasts are for generally, unsettled weather and colder in the west and unsettled and mild temperatures in the west.
 Dry goods reports continued to be very bearish. The markets are quiet, with prices even lower. Fall, River sales were only 10000 pieces, further drastic mill curtailment in east was predicted and one wire said Fall River mills had closed indefinitely.
 Dry goods and mills and slump in the stock market accounted for the selling wave, Weekend figures were not as bearish. as expected, but were a basis for very little encouragement. The intosight was smaller than last week and last year, and spinners' talk ings were 155,000,' against 150,000 last week, but 3,121 900 in 1923. The total visible Is running ahead of last year. A careful compilation Of supply and takings shows that there are about 130,000 bales more cotton available than at this time last year, but it is reasoned ata. 1HR eta faf4 count in a market of this character.
 Exports, 4,515,773 bales, and within about 127 900 bales of the total last year, not counting Canadian exports, which may be larger this year. The weather and statistics are bullish, but 1t does not seem that a position on the long side of the market is justified until dry goods demand improves. The mar. ket is likely to be a good trading af- fair for the time being.-S. R. Stewart.
 NEW ORLEANS, March 28.-After ruling higher in the early morning, owing to higher cables than expected and prospects for unfavorable weather in the cotton region, the market de- clined in consequence of small mill takings for the week, and because of the weakness in the stock market oc- casioned by the. resignation of Attor- ney General DaugheSty.
 Around the 2Sc level, however, there is more disposition to buy new-crop deliveries by traders and the trade, which seems justified considering the small available supply and the uncer- tainties attending the next crop, prepa- rations for which are backward in nearly all sections of the belt.
 To add to the unfavorable outlook as to the start of the new crop, indi- cations are for rather general rains in the cotton region in the immediate fu- ture, which would delay farm work all the more.
 Compared with last season, spInners' takings of American cotton the past week were 55,000, against, 12000, mak- ing total since August 1 of s,477, 900, against e,613, ,000 to even date last year.
 Prospects are that spinners' takings during the remainder of this season will make a better showing than in the early part of the season, as ex- ports to Europe continue free; for the week, 5000, against, 39,00O, making total thus far of 4,516,00O, against only 3,S37 ,000 last year, when the total for the whole season was only 4,649,000 bales.
 Exports are running on the basis of 5,31S,000 for the season and spin ners' takings about 6,0O0,0 which would require 11,31s, ,000.-H.. and B. Beer to J. F. Willingham 6 Co.