The news scimitar. (Memphis, Tenn.) 1907-1926, 1918-12-06
COTTON MARKETS
More Strength in Spot Depart,
ment Reflected in Futures.
Changes Are Small.
Fridav Afternoon. Dec. 6.

800 AtNNtAh
Signs are not lacking that in several
directions there is more disposition to
buy some raw material The tone Of
the market is distinctly improved, even
though there is no pronounced dispo-
sition TO take the buying side. Less
pressure Is shown on the bulges. al
though profits are accepted on them
ard hedges are released. The need Of
a speculative short interest is mani
tested more and more, for the %spinners
are still adherlng to their policy OF
buying raw material only as they must
10 IT, not having given up hope OF
being able 10 tire out the Southern
holder. The latter, however, seems as
confident as ever Of being able to mar
ket his crop at better han ruling lev
els and Is encouraged by increasing
prospects OF larger demand for export
More talk Of the probable govern
ment estimate is heard. and some OBJ
servers think fear Of the figures being
under II 800, coo bales is one OF the
things prompting some Of the support.
me only estimate Of Importance out
today was that Of the Watkins bu-
reAu, OF New York, which put its fig
ures at II, S25, 900 bales. excluding lint
ers. which was a little larger than most
OF the recent ones and was thought
TO have encouraged a little liquidation
early In the day. The official guess is
49, ~ INV AANAA "NNAltSAhN alAtI llNpAl
at ! O'Clock, local time, with the gin
uing report due at the opening Mon
day The latter Is expected to make
a rather bullish showing.
Liverpool displayed less strength to-
day in the near months than expected,
but for the distant came better than
que. finishing steady at net gains Of
J to ~ points, Spots were marked up
y points, good middling to q. OSd. with
sales 600 bales. Receipts for the day
were 1000 bales. including $500 Amer
icau. Manchester advised that cloth
buyers were holding off, while yarns
were easier.
In the domestic markets opening
prices were steady and higher. The
overnight reports regarding export
prospects helped bullish sentiment. one
was that Holland was going to get
something over 100, 600 bales Of cotton
soon, while II was likewise stated that
lower trelghts and larger space allot-
mehts Tor Great Britain pointed to in
creased number OF ships and better
demand ere long, AdVices from the
goods markets also were more encOur-
aging, all Of which naturally stimulated
tirmness In the spot department, where
at no time had there been any show
OF anxiety on the part OF holders.
AT the opening January in New York
Vas 2lc, but 1t dipped to 26.69c on
LIQUIDATION and some hedge selling. The
lower level attracted support, II COM
ing from spot interests largely. which
sent the list upward until q. 43c was
touched, the highest point OF the week.
RMS was in spite OF expectations OF
hearish weekend figures, as takinEs
compared with large figures for this
week last year, The higher level at
tracted pressure and shortly before the
close January sold back at prose.
spot demand was better and at soma
oenters quotations were higher. There
was encouragement to the hope Of
business being more general next week
and the holders were not slow to take
advantage of II. More ciearances were
reported, which made a fairly large
total for the week. Those who are
bulish are counting on this being a
feature from now on,
Futures closed Is to 90 points up.
tone easy, ~
New Orleans closed 10 to 80 points up.
tone steady. Spots were up Is points,
bales, ""''
In the local market business was
stu improving and more inquiry in
evidence, although most buyers were
stu a little under Levels demanded by
holders. Sales reported were 200
bales, making $3.50 for the week. Quo
tattons were unchanged, middling at
20 ,00C, Estimated stock unsold In tho
hands of factors Is ITS, 600 bales, COM
pared with 1873, 900 last year and 1T2. 600
In 1916. lInters in stock are Al, 900.
compared with 1000 last year.
Spot sales; Norfolk A02, Augusta $50.
Little Rock S3S, Houston 3.254.