The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-02-27
COTTON MARKETS
Cables Better Than Due, But
Change This Side SmaA
Bad Weather Promised.
Thursday Aiternoon. IA.

With Liverpool coming distinctly bet
ter than due his morning there vas a
fairly steady opening on this side, but
pressure came on the moderate upturn
and the list lost about all It had gained.
Later, however, steadiness developed
and the rest OF the session saw nothing
important happen. To some observant
minds the action OF the market indicat-
ed a steady undertone and a surcease Of
bearish confidence for the moment.
The weather during the past "a hours
was fairly satisfactory, the rain area
having passed out to the east and there
being only the promise Of a change in
tile west. A very bad looking barome-
Ter pressure this morning just north
west Of the belt, with official forecast
Of unsettled conditions with possibly
rain and snow, gave some encourage
ment to bulls, n perhaps was one rea-
son Shy there was a itNtle more strength
in the distant positions. From now on
the matter Ot rains ana bad weather
will be more closely allied with how the
new crops get started, as already there
is some delay in preparatory work.
Circulation OF a few more March no
tees In New York tended to keep that
position back and did not indicate that
the spot situation was getting any bet
ter. There continues to be but little ac-
Il - oINhe HAAA NV ~ "At NJ
parently not worrying over the fact
that the South adheres to its policy OF
refusing to make concessions in line
with the reduction In contracts. Ad-
vices as to feeling In trade circles is
fairly optimistic and there is some bust
ness being put through, but the volume
continues moderate. The export de
mand is developing very slowly, while
the lack Of anxiety on the part Of IN,
foreign spinners as to their raw mate
rial seems to reassure the domestic
manufacturers and induces them Il
further defer their buying,
Liverpool was due to come 5 point
off to as much up, but finished steady
and from 4 off TO 70 up, distant month!
being stronger than the near, Spot
were marked off 4 points, good middllnI
to 1900, with sales 1000 bales. Re
ceipts for the day were $4,000 bales, In
Guiding 20, 700 American. Private ca
bles tell little that is new and the situa.
ton in Great Britain seems to be pretty
much as IL is on this side, the mill
waiting for business to CONT befoT,
buying much Of the raw material,
Opening prices were 5 to 80 points Il
the good in New York, with distan
months under the influence Of Indicate,
stormy weather In the belt, May opened
at 22c, went up to q Ice, then dipped
to l.92c. There was little trading
but under 22c there seemed TO be will
ngnesS to absorb what was ottered
The recovery did not go far, however
until sellers appeared and the rest o
the session saw narrow limits and oper
atoms of sCalping character as a rule.
In the spot department business wa
small and quotations were not altered
much, Norfolk advised of widening q
differences on low grades by $50 points
and at the designated centers in tn
belt good ordinary now averages abou
1,076 points under middling. But buy
ers are still hesltating and there Is blu
little being cleared. II now appear
that March will be about az soon a
exports begin to pick up, for movemen
toward ports continues small.
Futures closed 30 to 10 points up, ton
steady.
New Orleans closed 10 to 20 point
higher, tone steady. Spots were un
changed, mlddling q, 2bc, with sales 1873
bales.
Liverpool Is due to come 3 points VI
In the local market sales were so
bales and quotations were unchanged
middlinp Mt % Roc.