The news scimitar. (Memphis, Tenn.) 1907-1926, 1918-10-29
COTTON MARKETS
Market Continues Under Mod
crate Pressure, Helped by
Small Spot Demand

Tuesday afternoon, Oct. p.
Pressure continue TO be eNerted
against cotton values, but It does not
seem TO be aggressive in character and
q fairly good undertone was displayed
at a moderate decline. Failure Of The
weather to become severe enough 10 put
an end to chances of late crop was re-
Rarded as one OF the chief factors en-
c~ouraging to some speculative selling
and TO the indifferent attitude on the
part Of spinners. There was some
weakness In the spot department, re-
Elected by lower quotations, but II can
hardly be said that holders dis playing
marked anxiety about this.
The weather man this morning
showed temperatures were more mod
crate In the sections that had been colo.
while in the eastern belt they were
above normal There were rains in
the central part Of the eastern belt,
but very little in the west. Indications
were for fair and cooler In the west
and perhaps a little frost In the upper
portion, but the bears did not see any
menac TO the late cotton out there.
More rains win not do any good. but
the chief result will be lowering Of
grade.
Liverpool came steady and from un-
changed to 80 points to the bad, which
was regarded as rejecting more conf
dence In the early coming Of peace.
Spots were marked down rs points, good
middline to %. sod, with sales 1000 bales.
including 100 American. Nothing was
received. Manchester advised that
cloths and yarns were dull and irreg-
ular.
At the opening on this side the near
positions were without any change. but
the distant ones were lower. rejecting
the receipt Of information regarding the
weather and the turning loose Of some
hAlnAg har 1uGaVAY, aHL. - l.-A4
some raw material, December in New
York opened at 80. 10, unchanged from
previous close, but II required but n
short while and not much selling to run
the price down to g. "a. There was
little attention apparently being paid to
the excellent news coming from abroad,
which was thought to promise material
progress toward peace, and profession
ais seemingly We're nearly all against
values. The lower level, however, at
tracted some little buying from people
who thought the short interests getting
too extensive and a moderate recovery
followed, December going back to 1854,
but again sagEing and touching 20, 25.
winch was not lar over yesterdays low
est. Later more support was given.
but II was not enough to do more than
bring a partial recovery.
In the spot department developments
were commonplace. Movement CON
tlnues restricted and there Is fairly
good inquiry, but only for filling short
requirements. Quotations were generally
lower today and sales reported were
small. The situation appears 10 be very
much as II has been, with holders show.
ing. pretty good attitude In spite OF the
lack OF general demand. This IL one
Of the disconcerting features to those
who are striving for lower prices, In
the meantime the outcome Of the move
ment for peace is one of the things be.
ing. closely watched by both sides,
Futures closed 30 to St points off.
tone steady. "
New Orleans closed % to 60 points
lower, tone steady, Spots were marked
off rs points, midding to soc, but sales
were only S15 bales.
Liverpool is due TO come seven points
lower. '"N''
In the local market inquiry is fairly
good for certain kinds Of cotton ana
sales reported for the day were 1900
abales, Quotations remain the same Tor
grades from strict middling down:
above they were from 50 to lis points
lower.
Spot sales: Norfolk, eight; Augusta.
$79;, Little Rock. S47; Houston. 1900;
Dallas, 1890. ~