The Birmingham age-herald., 1924-08-27
COTTON LETTER

NEW YORK, Aug. 26-The reflection of the absorption of the contracts by trade interests yesterday was felt in the market this morning, both abroad and here, with the result that we had an improvement over yeSterday's prices. Under the influence of the last govern ment report little attention was paid to the temperatures in the western belt, which have been running from 100 to 107 and the tendency now Is to reduce materially the estimates, as to the size of the Texas crop. Reports from Okla koma also show some tendency towards deterioration, and Georgia is beginning to complain of lack of rain. It must be borne in mind that it is from Au- gust 15 on that the serious .deteriora- tion in tho past has usually taken place. A deterioration usually reflect cd in the early September government report, but will not be reflected this year until the report on September 8, due to the change in the methods of estimating and time of issuing reports this year. More cheerful adyices were received from the yarn market, so that some further improvement In values would be not at all unexpected in the \ immediate future. Liverpool futures are due tomorrow: October, 14.09d; De- cember, 1s.ssd.-Hubbard Bros & Go.
 NEW ORLEANS, August 26.-Cotton prices were firm and a shade higher In marrow market during tthe first hour Tuesday. Liverpool was about six pen ny points better than due just before the opening here, with spot sales 1000 bales, of which 4,0o0 were American.
 The storm in the Atlantic was re- ported moving out to sea, which re- moved one of the bullish factors, but reports of rather serious deterioration from Texas came into the market early, which helped bullish feeling.
 The weather map showed fairly heavy 5 quarters of an inch, in North Carolina. I due undoubtedly to the disturbance which was shown in the Atlantic cen tering off Philadelphia There were light scattered rains in the west and Georgia. The outlook is for little change in the weather, with scattered showers almost anywhere. Temperatures con- tinue high, especially in the west.
 One Texas report from Dallas saidl eCentral, east and west Texas crops have deteriorated from to 25 per cent { in the last 10 days, cannot make as much as last year, bolls opening pre- ! Inaturely."1 This was confirmed by other private wires. Good reports are somewhat mixed. One report says de cline has sent buyers out of the market and another said big buyers under the market.
 English advices are more optimistic It Is reported trade is feeling much bet ter about the future and mills are in better shape. The exchanges were favor able.-Levy & Aronson to s. R. Stewart
 NEW ORLEANS, August 26.-The market recovered somewhat today, due to better cables than expected and numerous reports from nearly all acc tionsr of the belt to the effect that the crop has deteriorated considerably dur Sxng the past 10 days, or since returns were made to the government on < August 16, at which date the indicated yield was placed at 12,95 900 bales, ex- elusive of linters. .e- -
 While the recent government forecast indicated an adequate supply for this season. the prediction was based on condition of August 16, and the trade realizes that the crop is not made yet and remains subject to possible damage in which case another downward re- vision in crop ideas may develop.
 So far as present conditions are con oerned, new-crop cotton is at value and the trade will probably be more dis posed to buy at least part of it's flu lure requirements, pending further de- yeIopments in progress of the growing plant. An encouraging development, ex- pected to have a more favorable effect on European and international trade lis a press report from Berlin saying Germany will sign the Dawes repara- tion plan next SsSuPday,-H. and B Beer to J. F. Willingham 6 Co.
 NEW ORLEANS, August 26.-The market was a much more cheerful af- fair from a buyers standpoint than on yesterday, and values kept bobbing up in a way that discouraged aggressive operations on the short. side. At one time, October sold 54 points net higher land December 50 points net higher. De terioration reports from nearly every state in the belt, high temperatures in the west, better spot demand and ex- pectation of an unfaaprable weekly re- View from the weather bureau Wednes- day were the uplifting influences. The ease with which the selling was ab- sorbed, however, seemed to upset sellers and values rallied to near the best oi the day in the closing minutes, The steady stream of deterioration reports and diminishing outlook for the croI which are coming in from the Caro- linas to Texas are undermining large crop ideas and are likely to result in q higher market if kept up much longer
 --Fenner G Beane to Kahn 6 Virgin.