The Birmingham age-herald., 1924-07-04
COTTON LETTERS

NEW ORLEANS, July 3.-Bearish sentiment was much in evidence as a result of favorable weather and yes- ; terday's crop and acreage estimate, July and the holidays tended to re- strict selling and at times induced quite a fair amount of coverinesby shorts to take profits. New York also reported that the trade buying was on scale down, and this was also a feature dur ing the early session. The National Boil Weevil Control association issued a statement saying it's Investigation ins dicates weevils are less numerous than a year ago and use of poison more general. Its estimate: 15 per cent of the land infested last year is badly in- fested now, AS per cent lightly infested, while infestation over the remainder is weather over the holidays will stimulate further bearish activity and lower values appear in prospect.-Fenner & Beane to Kahn & Virgin.
 NEW YORK, July 3.-The market was steadIer today than expected, fol- lowing the bearish government report and lower cables. Pressure overnight, liquidation and professional selling was short covering for the holiday and a fair number of buying orders in Oo- tober and December for cotton mills. The weather map and forecast were favorable. There was no particular news, except that complaints came in and grassy fields in some sections. Sentiment is bearish; and, with favor able weather, the trend is likely to be lower for while.-John ?. Clark 6 Go.
 NEW ORLEANS, July Cotton prices were lower again Thufsday morn ing on poor showing hY Liverpool, favorable weather reports and bearlsh feeling stimulated by the government report Wednesday. The approach of the holidays, beginning July 1, re- stricted trading, and there was some proeit-taking on the decline, Liverpool was about 14 penny points worse than due at the opening here. The early weather reports were favorable, the map showing some scattered rains in North Carolina, Florida, southeast Texas and Oklahoma, but elsewhere the belt was fair. The forecasts are for continued mildly unsettled weather scattered in the belt and generally favorable weather. The dry goods reports are markets duiet.-Levy & Aronson to s. --R. Stewart.
 NEW ORLEANS, July s.-Yester- days government cotton crop forecast of l2,144,000 bales, exclusive of linters, afforded much relief to the trade, from the prospective supply point of view, as noted by lower cables than due to- day and the easier tendency of the market, and while the market may rule lower still later in the month, if fairly good weather prevails inland. the pro spective adequate supply will probably serve to stabilize values eventually. As a new departure, the government will make report on the condition of the growing crop, as of July IS, which bull letin will be released July 21. There fore, the trade will not have to wait until early August to ascertain from an official source, as in former years, as 2 toiprogress of the crop and prospective yield. According to reports circulated today, the National Boil WeeviI Con trol association is quoted as stating that infestation this season Is much lighter than at this time last year. Tn addl- ton many farmers are poisoning or prepared to poison. Infestation IS de- clared to be heavy over only IS per een9 of the area infested last year, ia