The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-02-03
COTTON MARKETS
Good Cables and Better News
as to Domestic Labor Stu
alton Cause Squirt.
Monday Afternoon, Feb.

MONDAY Afternoon, Feb. 3.
Higher prices were recorded in the
speculative department of the market
today, and the advance seemed based
On good foundations. There was moth
ing exciting about it and profits we're
accepted on the bulge, but sellers acted
as IL they realized the danger Of going
counter to developments.
One OF the stimulating influences was
further indication Of the passing of i'm
mtnent danger Of a strike among the
mill operatives in New England. Pri-
vate advices said that adjustment was
being on the basis OF 4S-hours' pay
Tor ~ hours work a week, although
one group Of workers was holding out
for better terms. The chief effect of
TINS settlement will probably be that
bears will be without one Of their chief
talking points. and it will also indicate
that labor and capital can effect a COM
promise OF their differences without ty-
ing up everything. The mills are run
ming on less than 4s hours a week, but
chances will now favor a gradual in
crease, as fear Of this trouble has been
! one of the ~bugbears Of the trade. More
over, there is a steady improvement
in feeling and each passing or strike
dangers will naturally encourage OPP
Liverpool also came much better than
ENShSNr oAtAlOubh NlCIV was LONllIlk
but guessing as to what was the occa-
sion for 1t. Trading in the new-style
option was started, but only In May,
which shows q big discount compared
with the nearer ones The latter also
showed disposition to narrow differ
ences. for the list closed firm and from
% to rs points to the good, whereas a
decline OF s was due. In spots no
change was made in quotations, good
middllng. quoted at 1864, with sales
1000 bales, Including 800 American.
Receipts for the day were Al, 900 bales,
including 23,500 American.
First prices in the domestic markets
were firm and higher, May 81 points
up at 2l.9Qc in New York. After touch
ing a few points lower on the call there
was an upturn Of about SO a bale on
moderate buying and but little offering.
May sold up to 22.54c and then sagged
a little.
Weather conditions in the belt con-
tinued unfavorable, considerable rain
having fallen over the weekend, and
the promise this morning was for more.
This means that work is being further
delayed, some advices telling Of grow
ing concern over It. Another factor
was the influence Of the reduced acre
age propaganda, the trade seeming to
think that something will come OF 1t.
There Is no sign OF holders weakening
any, and therefore offerings of con-
tracts were limited.
The market in the middle afternoon
showed fresh strength and May sold
back up to about the high of the morn
Ing, while the new crop positions were
being well absorbed, presumably
against future requirements of the raw
material or by people who think dis
counts are too large.
From the spot department came ad-
vices to the effect that inquiry was
better, but business was generally lin
tied by refusal Of holders to turn loose
and by the scarcity Of the kinds APP
parently wanted. Exporters are showing
signs Of doing a little business, but
c~learances are light so far.
During the final half hour covering
continued on a liberal scale and offer
ings were limited. Prices worked up