The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-04-26
BY GEORGE WILLIAMSON.

Continued optimism regarding peace
negotiations, although interrupted to
ON extent by the threatened disrup-
ton by the Italians, was one of the
main factors of strength in the cotton
market during the past week. 1t slim
Mated business and afforded basis for
anticipating further expansion in the
Finished goods department, while 1t
Encouraged freer buying of the raw ma
terial, This apparently was the domi-
rant influence, although the general up
ward trend of values in the grain and
Provisions and in the security markets
Fere perhaps C~Ontributory to the eA-
tent that they reflected the decreasing
Purchasing power of the dollar. h
idea that cotton was relatively cheap
nade its appeal to many observers and
made it easier for them to boost prices.
The upturn came without any spec
facular features and some critics
flailned that contracts were higher
ASfainly because there was still dlspar-
Hy between spots and futures, although
This appeared to be a rather feeble alibi
Tor having been so wrong on the course
81 values. Near months were up more
than the distant, although at times the
fall months were much more active and
the bulk of the speculative business
went into them. Finals for new con-
tracts In New York were not far below
the highest, with the list up for the
week So to 40 points net, while in New
Orleans gains were so to "A. The old
list gained So to 100 points in New
York and 174 to 1902 in New Orleans,
At the leading centers In the belt spots
gained IS to 80 points, middling rang
ing from &c, 75c at Little Rock to 2S.5Cc
In Houston. =
Thursday, with new july in New YORK
at 26.71c and october at 25.lSc. That
crest was approximately S. a week over
the lowest. The periods finals were
not far under the top n the technical
condition Of the market was made far
iy healthy by tho liquidation which took
place from time to time on the bulges.
Conditions surrounding the new crop
were in the main fairly satisfactory,
Temperatures were about norma unit
a moderate cool spell struck the upper
section of the belt Thursday night, with
promise Of bringing some frost in the
eastern sections Friday night, There
were few rains, the result being some
complaints of them teirg needed IN
the western belt to germinate the seed
The cool spell was accompanied by
ID rains, which were acceptable in the
western and central belt, especially as
warmer was promised to follow, The
weather departments weekly summary
q on Wednesday was regarded as abou'
y a. dog-fall and had small influences or
4 prices,
Trade Still Improves.
From the manufacturing end of thu
market came adVices indicating tina
trade was healthy and seemed to b,
! mending, while confidence was growing
/ because Of expected expansion attend
ant on the signing of peace terms. Tn
maintenance of values was without dill
ficulty and so far as best Judges coult
determine the outlook vas bright. Their
was still moro or less dubiousness as t.
the South's determination to reduce it
acreage as much as planned. but til,
attitude toward raw material value
was not one of open a~ntagonism.
3, Foreigners seemed most anxious TO
spots and supplied the bulk Of inquiry
Liverpool was the source Of much Q
the markets support. In the Manches
ter district conditions seem to be en-
c%ouraging and the smallness Of stock
of raw material left the spinners littl
choice about buying as they increase