The news scimitar. (Memphis, Tenn.) 1907-1926, 1918-11-26
COTTON MARKETS
Market Continues Dull But
Steady-Day'S Exports
Show Large Total.

. NN6AaN FAANiA HULL WV ~
pullness continues the feature OF the
speculative market, but it is without
weakness Of consequence. There seems
10 he an undertone Of steadiness. which,
though not sufficient to Induce much
buying, ~disCourages pressure from
those who are beRrish. The holder Of
the actual is adhering TO his policy OF
offering moderately m being content
to await the time when buyers can de
fer their purchases no longer. Just
when this time will come is as yet
problematiCRl, but there Is a feeling OF
confidence that 1t Will not be much
longer.
One feature Of the days session WAS
that Clearances from domestic ports
we're the largest In some time, totaling
about 1000 bales, most Of which Went
out from New York, destined for Great
Britain and France. The trade Is anx-
iously awaiting announcement when
through bills of lading will be issued,
and II is expected within a week or
80, which liz counted on to start con
siderable business, as It viii reduce
overhead charges and enable many In
quiries TO be filled There IL also hope
that 1t will not be much longer before
more ships will be available for moV-
Ing cotton, Some of the exporters say
that there is a fair inquiry from abroad,
but little effort is being made to sat
isfy II until more OF the restrictions are
removed. II is believed that TO fill
Great Britain's December allotment OF
about ESQ, 600 bales considerable buying
Is yet to be done In the belt.
Nothing was heard today about any
more mills shutting down because OF
insufficient business. 1t was the gen
eral opinion that the chief bearish In
fluence OF yesterday was the news from
Fall River that three mills would be
closed until further notice, some OF the
gossip expressing the opinion that bears
U,uan Hn,Sn af thlp tIu1 Vnal1y Woo
merited, although It II perhaps natural
that Epinners do all in their power to
buy their needs Of raw material as
cheaply as possible.
Liverpool furnished another surprise,
coming much better than expected
Finals were steady and 80 to 6 points
to the good. whereas a decline of ,.
was due, Spots were marked off .
points, good middliuE TO 22.46d, Sales
were only 500 bales, including only l0C
American, indicating that the mills are
counting on getting their needs cheaper
by waiting. Receipts for tho day were
81, 900 bales, including 27.700 American.
Manchester advised that cloth offer
ings were scarce and yarns were quiet
In the domestic markets trading was
quiet and without much feature, witt
prices covering a moderate ange, Jan
uary opened at 1855, 10 points to the
good, but worked up to q. 10. ther
dipped back to q 40, later going baCi
UP to 27.75. Demand seemed to disap.
pear and It took but little selling to rur
The price of again, 27.50 being touched
In the late afternoon,
In the spot department business con
tinued restricted, but advices said tn,
tone was steady to firm and but it'll,
was offering. Some Of the wires from
Texas told Of good demand,
In the final half hour prices made
lows for the day. January touching
2715, IL drop Of 90 polurs rrom the early
high
Futures closed b to As points lower
tone barely steady.
New Orleans closed I to 3s points
Off, tone steady. Spots were un'
changed. middlinG 1915, with saleI
l.S47 bales,
Liverpool is luz to come 20 to 9
points lower
In the local market demand runs tt
n limited number Of grades, which ar,
firmly held. There la nc sign OF In.
Quiry broadening, although exporters
are said to be getting encouragement
from Liverpool for staples, Sales re.
ported for the day were 1850 bales ant
quotations were unchanged, middlinl
at 30C.
Spot sales: Houston $40, Dallas l,723
Little Rock 657, Augusta 3a4, Norfolk
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