The Birmingham age-herald., 1924-09-25

linters, will likely result in some inn provement in the demand for raw cot ton and cotton goods. Aside of future weather developments in the cotton region, future course of values will probably be governed principally by whether or not trade buying increases. Meanwhile, receipts are apt to con- tinue large, and stocks everywhere. will probably increase as the movement to market reaches larger proportions, even though exports continue free. Opin- ions remain divided as to future course of the market. Some traders contend that the weight of the larger crop has yet to be felt since only 1,406,000 bales were marketed to the close of last Friday, but ether operators feel that the recent downward revision of crop ideas will revise trade and speculative buying and prevent any further de- cline of importance. In the past, the low price levels of a season, during small crop years were generally wit messed in early part of the season, but in large crop years, the low levels of a season were not witnessed until later in the season, or until the crest of the movement to market was passed. Therefore, the future of the market re- mains uncertain, much depending on weather conditions and character of the trade demand.-H. & B. Beer to J. F. Wiliingham & Co. .H
 NEW ORLEANS, Sept. 24.-Cotton market went through a sobering down process today and values eased off 43 points as result of this. There was enough hedging at the start coupled with some short selling to cause a 50- point drop. After the hedging was ab- sorbed values rallied 40 points but slip ped again in the afternoon. There was very little news in circulation to &C., count for the decline as the basis Is re- ported some higher, the demand from abroad is good, dry goods markets were more active at substantial advance and bookings point to heavy exports for the remainder of the month. Some advices also indicated there is a good deal of cotton yet to be bought to fill September commitments. Sentiment ap- pears to be shifting to the buying side, bearish traders are less aggressive and the public is showing more disposition to buy on the dips than for some time.-Fenner and Beane to Kahn and Virgin.
 NEW YORK, Sept. 24.-As was nat ural after the sharp advance of yester- day, some reaction has taken place in our market today but the trade as Q whole are surprised that there was not more of reaction than has been wit messed. This may have been due to the fact that the weather map indicates the possibility of a gulf storm forming and consequently there was further coV- ering of cotton which had been sold on and before the report. Excepting for a somewhat better demand for fin ished goods, buyers in the dry goods market have failed to respond to the report which may be due to the fact that after the report came out yester- day, prices in the dry goods market were advanced very sharply, in fact more than the advance in cotton, which naturally killed the demand for the mo- ment. Sentiment in the market is quite badly mixed as there is still a feeling that the movement will be more than the market can digest. At the same time, we find many who have been previously very confident of low prices now of the belief that it :, safe to buy cotton on any breaks, an opinion with which we thoroughly agree. Liver pool futures are due tomorrow; Oc- tober, 13.09d; December, 12.90d.-Hub- bard Bros. and company.