The news scimitar. (Memphis, Tenn.) 1907-1926, 1918-10-26
COTTON PRICES
BREAK FURTHER
Continued Favorable Weather Encourages Bearish
Feeling and Spot Demand Restricted-Ran In
terrupts Picking, But Stocks Accommodating
Slowly.

sufficient TO induce support based on
irost prospect. Advices from many di-
rections old OF the crop being added
10 because of frost holding off, which
was one of the factors helping in the
decline. The time for first frosts has
been passed by several days. and 1t is
figured that II killing ones do not come
until next month there win be more
addition to the crop. Some estimate
that the yield has been increased by
from a half to a million bales, but few
people are disposed to make c~alcula7
tons yet. The market merely assumes
that any increase is important, coming
as it does when spinners are taking
their time about supplying their needs.
Undertone Not Weak.
That the decline has not been more
rapid is regarded as evidence of the
markets undertone being steady The
South has rarely had such SLOW sale
for its crop during the fall months,
and this with a large carry-over IRON
the old crop. which means that the
burden on the holder is greater than
ever before. The fact that values are
so much higher and thus the money
volume tied up is so great Is offset
TO some extent by the fact that the
sales made have been at high figures,
The most significant feature rs tnat
the absence of anxiety about selhug
appears to reflect more anc m
dependence than was thought 10 pre-
vail in the belt, for it has not resulted
in failure to take care of its entire
quota OF calls for government iunus,
What it will mean for the future Is one
of the problems the trade has TO race,
In the local market sales for the Wee
were 1850 bales, while net recelp.s
were only 49, 95. showing that more
than half of current receipts are peLIas
sold, demand for old cotton being eln0St
nil. Buying was scattered and was oE
no means broad or general, and Woulu
probably have been larger out tof tne
congestion in shipping, due to the EN-
bargoes and the labor situation MANY
Of the buyers who ordinarily ouy N UNI
center were filling their requirementS
at interior points, although DuslllesS
was not large anywhere. The same ap-
pears to have been true elsewhere Ii
the belt, for sales were generally Wy
small. 1t is said by local buyers thal
the spinners are adhering to thelr poi
lev Of buying their supplies ,oily dc
thew need them, evidently relying Oh
being able to fill their larger REQUIRE
ments at prices which will enaple tilel.
to continue their present
profits, Now that prices have deemed
so much during the past several Weeks,
it is hardly expected the goVernInent
committee having under consideration
nrices of finished goods Will see III 70
make any change from the present pasIs
as such was reported figured on w.
cent cotton. The report on TINS mailen
is expected to come about the, middle
of November, and is expected 10 DC
oIIowed by some increase IN puEihe
of raw material. uui.sd
Export movement continues Iimited;
and there seems small prospect yet o.
II setting any better. During the week
c~lesrances were about, 10000 bai ooc
making the season total TO dayT no S30, SeO
mnanG however, are recognized as large:
foa there nS" is a Tremendous vacuum Of
row material in the foreign countries,
If is his which is discouraging, many
people from following"the bear sac zoo J
closely, for peace is expected 10 DC wv
lowed by considerable demand.