The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-08-08
COTTON Markets
Liverpool Much Worse Than
Due, But Fairly Good Tone
Displayed This Side.
Frlday Afternoon. AVE-. 8

Evidence that the technical posi-
ton Of the market had been much inn
proved by the reaction Of the past sew
eral days was supplied today when
prices worked upward without trouble
after an early sinking spell. The poor
cables from Liberpool supplied the
occasion for the weakness n october
sold down as low as 5000 on the cali,
from which there was a moaerate up
turn, More optimistic adYfSes vas 20
the railroad strike situation n some
claims of high temperatures in Texas,
Oklahoma and Arkansas dooing harm
to the crop caused h upturn. There
having been an accumulation OF a con-
siderable short interest while prices
borke around 500 points, the bulls had
something at which to shoot, and scar
city of offerings when they began 10
cover was a feature.
The economic situation is still a big
factor, but apparently this has Deen
pretty thoroughly worked and atten-
y was diverted to other factors,
There has been no doubt Of the erect
&. lla pfsvanIhg uncertainty on the
business world, but optimism is not
dead and the fact that President VIII
son is taking hold and striving to solve
the difficulties helped encourage some
buying, for it is recognized that this
country is suffering from over-pros,
perity as much as anything else ana
tia eOAAASAO" az
Liverpool was due to come 81 points
to the bad, but early was much worse
than that and afterward became quiet
erratic and never did show much sta
bility. At the close tone was barely
steady and the list was from 70 to s.
points net to the bad. Spots were
baTked off 81 points, middling to 1880,
while sales were 5000 bales, Including
$500 American. Receipts were f2l;OO
bales, including $500 American. For
warding to the mills during the week
indicated more disposition TO ta4e raw
material needs.
First prices on this side were OFT on
the near and slightly up on the as
tant, October being down " poahIs, y
80. go. There wal good support o.
ferings were not heavy, SO improve
ment followed, but there vas irregular
ity and much backing ana filling. II
was apparently Q contest between tne
uncertainty OF politics ana that sort
II news and the adyices coming from
the belt. Mom Texas there came q lo'
of news regarding damage being dont
by insects, but 1t was later IN me aa1
when high temperatures were repoiteG
that the shorts really got alarmed ant
ran prices up so hurFiedly. octohsi
sold aa high in the forenoon as. Sl.S,
and then dipped 10 S0.S7, but later Soit
m to Sl.05 before much selling. wa
done. Even then tneFS "S0 SVON ~
sorptive power. ~,
The weather nap showed that bu
little rain fell during the past "a houTl
and the forecast was not for mvcn.. l
was regarded as q satisfactory outlooi
for the east, but showers would be wei
come for other sections.
spot news wal still scarce, ~ wire
from New Orleans told Of freight rate,
LeinR reduced because OF the smel
amount offering for export r IN
larger supply Of vessels. The week
" statistics were resumed n mace
little batter showing from the bulls
standpoint, :,
tone steady. IN ,o,n,
higher tone steady. Spots were un
changed, middlirc' at sl.50c, ana SAFE
507 bales. az
bales, making 1900 for the week Quc
- ton were unchanged, middiing
"a. soc. 49, h.ad
of factors is $1,000 bales, compare
with 1000 last year, and lbo,ouo y
1917 Linters in stock are 5V,OOV' CON
rared with 100, 900 last year. A