The news scimitar. (Memphis, Tenn.) 1907-1926, 1918-12-31
COTTON MARKETS
Market Gets Better Support
and Receivers Sharply, But
Changes Moderate.

tuesday Afternoon, Dec. 81.
On the final day Of the calendar year
further evidence was given of the DOM
nance Of the spot department over the
course Of futures. There was little In
the news to affect values and traders
were not disposed to do a great deal,
yet there was some early pressure,
which sent prices slightly lower han
were recorded yesterday, March in New
York touching u. Soc. Seeing that spots
in the belt were not making response
by weakening and technical condition
OF the market being visibly improved,
there was support from people who have
been favorably disposed toward values
n the recovery came without rouble.
When 1t reached about 50 a bale there
was subsistence OF support and quietude
followed.
In Liverpool there was some strength
in the early part OF the trading, declines
not having been as much as due, but
later IN offerings increased n final
were quiet n from 46 to So points to
the bad. Cables did not bring any
special information, but II was assumed
that larger arrivals Of the raw mate
rial encouraged some Of the selling,
Spots were unchanged, good middling at
% god, with sales 1000 bales, including
400 American. Receipts for the day
were $1,000, including 40, 200 American,
Manchester advised that cloths and
S"AH0 NtlV III ldA llilu y bul buSllltoo
was small.
Because Of the firmness in cables
opening prices in the domestic markets
Were some higher at the opening, March
being 20 points up. at 2S.05c, and sold
at Is, loo before starting downward, The
absence Of bull support and some clos
ing out trades pending the starting Of
a new year was thought responsible
for the pressure, March dipped to q SOC
before the decline was checked. There
was little news to explain the weak
ness, but offerings became scarcer at
the decline for there was not any
thing to suggest that spots were fol-
lowing the decline Of the past day or so.
The recovery extended to ~, &c, but
buying power lessened and another dip
to 27,S4c came, being met again by
buying orders from spot and trade in
]terests. The recovery then extended
almost back to the early high, but there
was little trading and evening up
seemed to have been fairly well COM
pleted.
From the belt came but little news
about spots, except that they were firm
ly held and holders were confident Of
being able to get their Own prices soon.
The weekly figures on takings by the
spinners Cane during the morning, be-
ing 25i, 600 against $40, 600 same week
last year. That mean a bearish show
''k WI NV NAolblN supply buN AlNS ulu
not appear to be given much attention.
During late trading there was fur
Their rise in quotations after several
backs and fills, indications pointing to
some anxiety among shorts. Offerings
were light and the best prices of the
day were Just at the close, March
reaching 2S. soc.
Futures closed so to 10 points higher,
tone strong.
New Orleans closed 25 to 40 points
up, tone steady. Spots were unchanged,
middling at 3lC, and sales were $50
bales.
In the local market sales were 1880
bales and quotations were unchanged.
middling at 30.50C, There Is nothing
but strength here and holders seem to
feel that they viii find plenty of de-
mand at rising levels after the holiday,
Spot sales: Norfolk, 435; Augusta,
40; Dallas. 1870; Galveston, S45.
An markets will he closed tomorrow
and Liverpool will remain closed until
Friday morning.