The Birmingham age-herald., 1924-05-16
COTTON LETTERS

NEws ORLEANS. May 15-Except for the continuance of low temperatures in the cotton region and light to moderate showers In nearly all sections of the belt. with some heavy rains in southeast Texas which sustained the market, the session was featureless until afternoon when it bulged on bad crop reports.
 Gradually the trade is coming within the shadow of the first government crop condition report of the season. due at 10 a. m, New Orleans time. June ?, which plant as of May 25. The government bu- Feau crop condition for May 3b last year was Il year before last sss; is nxas2is 1s2l; from United states continue free; since Friday sO,OOo against z2.0oe thus dao far In addition, there is on shipheard at New Orleans S3;000 against ll.o0o; Galveston, So,Qoo against 5000. which is awaiting house stock there today down to only 47,5O0 bales, H. & B. Beer to J. F. Will ingham & Go,
 NEW ORLEANS. May 15.--cotton con tinued firm with an Advancing tendency waiting some new influence which would turn the market one way or the other The strength of the near positions is a watched carefully in the last days of the month. It is understood there are still some May contracts to be covered. Dry goods continue beArish, but foreign trade news bulllsh. It Is largely weather market with the uncertainty involved the
 Snth sa tss stTSHsy Ssassy Sas sss weather particularly in regard to lower temperAtures would bring liquidation mstsIs' prove proflts6is.- .-~i.esy and Aron, son to R. stewart
 NEW YORK, May iS.--Reports of de- clining crop prospects. low temperatures and replanting started covering in the late atternoon, the local crowd and Wall n bales July and October. There was also some trade buying of distant months on q matsriaiiy rat af reduced % but t T win % take a . period of warm dry weather to bring in
 much selling as shorts are stiil on the ed to l4ssi{ baies.--Jehn F. Clark and Company.
 NEW YORK May 15.-The general opinion prevailed this morning that the market would be rather reactionary in view of the possibility of better weather. for sale. At the same time there was only moderate buying, but sufficient to sspss srs the o, market ta open around So.tss isst there was considerable buying in view of the very low temperatures still prevailing throughout Texas. This is becoming ex- iremely serious and unless we have clear. hot weather throughout the belt in the next week the crop will have to labor un- der a very serious handicap. During the afternoon the market was very dull and lost sonne of It's advance, but the charac- ter of buying throughout the entire ses- sion was extremely good. and could be traced directly to the trade. The market to our mind has had an opportunity to go down In view of the very pessimistic koods talk Contrary to the pessimistic feeling, thee, market has moved up and certainly Will advance further unless we have q much better brealc in the weather-Hub- bard Bros and Company.
 .1S
 market was featureleas and prices almost stationary until the last half hour, when a considerable covering movement develop ed and advanced sharply. The steady stream Of unfavorable crop reports from Texas Oklahoma, Mississippi and other states reports of cold rains over a con siderable portion of the east and forecast of a cold wave in the northwest overnight were the chief influences. Part of the buy tng. however, vas due to reports that the President has decided to veto the bonus bill Strength Of the near months and increasing short interests caused eonsid : erable buying in May and July New York Much of the late buying was attributed to this fact-Fenner and Beane to Kahn and Virgin. t3