The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-05-13
COTTON MARKETS
Good Gables, Continued Un-
favorable Weather and De-
mand for Spots Help Bulls
Tuesday afternoon. Nav l.

aNtAhg hH0lAH may Zoe
Firmness prevailed in the market to-
day and by midafternoon contracts in
New York we're within . few polnts Of
the recent highest level. while some Of
them in New Orleans we're even better
than recent records. Gables we're bet
ter than expected, the weather and
crop accounts from The belt were bull
lSh, while demand for the actual con-
tmucd to indicate hunger for raw ma
tertal on the part OF the consumers.
There was willingness TO turn loose on
the part OF holders, but they are ex-
acting better prices and are very in
dependent, as the current OF affairs
seems to favor higher levels and the
bears are showing but little fight.
For the moment political develop
ments do not seem to be having much
sway as a price influence, although
this is partly due to the apparently
smooth curse Of affairs and the conf
dent feeling that Germany will sign
the terms n that the others Will do
the same thing, II was also said to-
Gay that the Italians were disposed to
he more tractable and show a more
conciliatory spirit az to the gAdriatic
question. In this country the fact that
congress is soon to convene and will be-
s,. Is attack on some OF the bust
cess and commercial problems is a
factor that helps optimism, as the big
business interests expect some impor-
tant changes and therefore the upward
trend to securities In favored. This
is not hurting cotton values in the
least.
The weather map this morning
showed that temperatures were gener-
ally below normal In the belt, but there
was little rain during the past "a hours.
The latter was favorable, but the cool
nIHhtE ara hurting and with tha man
stun unsettled there was disposition to
discourage beaTish efforts. The week
ly summary tomorrow Is expected to
be bullish for many complaints are
coming ABOUT grassy fields and delayed
planting.
The monthly report on consumption
during April In also due tomorrow morn
ing, and 1t is expected to be more bull
ish than any have been for some time,
though II may not show that the mills
used as much as Tor this month last
year. Bulls are counting on II show
Ing further liberal reduction in mill
stocks Of raw material. 1t is due to
come at the opening.
Liverpool was due TO come 4 to 8
points to the had, but at the finish
stood one point off ~ II up, tone steady,
The near months were stronger than
the distant Spots were marked up 6
points, middling to 1850, with sales
lfNNN bhAN0t llNANANlih utAVV SAlAl-A a
Receipts were 1000 bales, including
100 American.
Opening in the domestic markets was
at small gains. which attracted tom
porary pressure, but the dip was small
and later steAdlness ruled. July opened
at rs. 9S, dipped to 26.S5 and then worked
higher and touched 27,l5, while October
started at % 30, dropped back to 2b.lG
and then in the afternoon reached 2b.49,
Much backing and filling was done on
the way Up, and trading was at no
times heavy,
Spots were generally steady and
slightly higher, with sales restricted by
lack NJ offerings, for holders are not
turning loose except at higher levels.
The prospect OF larger shipping room Is
stimulating demand, as Ia the eXpec-
tation of domestic mills being compelled
soon to enter the market On a larger
scale. IN New Orleans quotations were
elevated 2b points, midding to Is. l5c,
with sales 2,746 bales. Texas points
advised Of stiff demand out there and
paucity Of offerings.
Strength continued to the close and
covering by shorts when offers were AZ
scarce carried prices to new high levels.
October sold as high as b.72c
Futures closed "a to so points up, tone
strong.
New orleans closed Al to 80 points
up, tone firm.
Liverpool is due TO come 20 to 20
points up.
In the local market business re-
ported for the day totaled bales
and quotations were raised % points,
middling to rs .2bc, Inquiry continues
good aud In broadening somewhat,