The Birmingham age-herald., 1924-01-27
COTTON LETTERS

NEW ORLEANS, Jan. 26.-Cottor opened IS points up on the strength displayed by Liverpool and cheerful views from that market on trade out look, but met free selling at most iron, the start, and soon lost all its gain and more. Some covering in the last half hour on possibility that the English labor troubles may be adjusted over Sunday rallied prices 15 points from the low. and gave the market a fairly good closing. Curtailment talk from New {assglard mills and talk of both
 heln and norther:t mills canceling contracts where shippers fail to make delivery up to contract grade is de- 'privirg the market of the good effect of reports of large sales to other mills and of continued good demand for the actual that came fl oIn the interior. The procrastinating policy of dry goods buyers seem to he having increasing effect on sentiment, largely because of its persistency and possibility that 1t will make many mills put off buying spots. It is certain, h ,V'ever, that our supplies of fall gods pf,ll have to be made out of last year 2 crop. Putting off the buying of the rrr,' material nec- essary to manufacture tnese goods may have a sentimental effect on the mar ket at present, but pulr hases on fur ther breaks for long pulls seem to be most profitable.
 The short session was without any feature, LiVerpooIs usual advance be- ing without much influence. Business continues slow in a speculative way, and the market is iosing friends be- cause of it's inability th hold the ad- vances.
 The bullish statistical situation makes [ 1t unwise to press the declines with sales, but until more ui the product of the mills are rassed on to the con GIT 1af.r rid fofx ka. CT prices hardly seems justified.--Fen- Ter & Beane to Kahn Eros. 6. Virgin
 NEW YORK, Jan. 26. Liverpool was better than due this morning. and there was some foreign buying orders in our market at the opening. The local sem timent, however, is still bearish; and, after these orders had been executed, the market sold off rather easily, al- though it did not reach yesterdays low level Private ca bles report that the shortage of goods in the Barbaric countries has Sagain brought some dc- mand into the Manchester market, wlere trade is reported. Better news as to the English railroad strike was also more favorable. The tone of re- ports from domestic goods markets was very pessimistic, and this has q con siderable effect upon the local senti- ment. During the day, the marI,e. lis played c good undertone. There was less southern selling. and enough trade demand in small lots to absorb the local pressure. Farther cod weather Is expected in the south, and these frequent cold waves are thought 10 be favorable in regard to prospective weevil damage. This is true, provided we have q dry spring. A combination uf tic cold winter with q favorable spring would assist with Us weevil prob.crl Inaterin fly, but tie ...s Is uot sufficient without the other.--Ilti oi.s.:d
 NEW YORK, Jan. 2s.-Tha rsr,sct etsl i:sne.s fire as result of the con fllct.nS influence of bullish supply s..u. ton snd d tagging market for ods. Which set of lnf.uen .es will gain the upper hend remains to be decided, but healthy sLori Interest Is accrmulating fer speculative ac- count, which, added 10 the trade short nterest. constitutes formidable poten. tlal buying power if it becomes effec- tlVe.l As long, however, as a fresh seiier stands ready to teke the pIsc, CT an older short who wishes to rAt .ut, advances are not likely to go Tai or hold well. and the spring can he iuitAet compressed, regardless of any ia'ef rec. Pending some posit.ye ue, IAot tnent Of s..Ine sort, onIy Il rag. 5ad, meg lar mar.;e. can bc exnesteI
 ~ u X Fiagg to Sham, n x Cn