The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-10-21
FnTT0N WIDVgTC
GUl1VN IkhhAEIS
More Rains in Belt Aggravate
Spot Situation and Prices
Work Higher.

Tuesday afternoon. Oct. 81.
AS II the market did not already have
enough that was builish, there were
some injurious rains in important sec
lions of the belt over night which add
ed fuel to the flames already burning
furiously, and prices worked TO new
high levels today, amid trading which
was moderate In volume. Behind the
market there is still the scramble for
the kind OF cotton that spinners seem
to think is going to be extremely scarce
and an unsatisfied short interest, The
spot market news during the day was
indefinite, except all said the rush to
buy was as keen as ever and nobody
could tell how much quotation would
likely be advanced in the Afternoon.
The rains were worst in Northeast
ern Texas, Southeastern Oklahoma, Ar
kansas and across the river in upper
Mississippi and Tennessee. Some very
heavy ones were reported in Texas and
Oklahoma, doing damage in sections
whence some good reports had been
coming up to recently. The indications
were for more rains, although some
cooler is expected to follow; but per-
haps the worst had been seen this
morning. Some wires from Paris, Tex,
said fields were two feet deep In water.
These rains started yesterday after
noon, but were worst early this morn
ing. The rest Of the belt, ecept lower
~ AtaA ~ HAAA wv AAAN ~ 1850
before the cool spell comes to check
them.
! There was an expectation of a very
, Aullish private ginning report some time
A6ring the day. which stimulated some
uuying of contracts. but up to a short
while before the close nothing definite
had been received. This was rather an
excuse than a reason for the markets
strength. The census report Saturday
morning is expected to be bullish and
win compare with nearly 10000 0 bales
ginned to even date a year ago.
Liverpool again came much better than
due and showed that the scramble Tor
the actual was not over in that direc:
ton. Finals were very steady and
from SO to 46 points net to the good,
,comparing with q to 10 UP as due.
Spots were marked up 81 points, mid
ding to 22.S0d, with sales 10000 bales,
including 1900 American. Recelpts
were but 5000 bales and none Ameri-
can, Manchester advised that IN cloths
and yarns a fair business was doing
Opening prices on this side reflected
good cables and the weather and spot
news. December opened "a points W
at BATS, and soon sold up to 1890. But
there developed a little more disposition
to turn loose long holdings in that po'
sition n to absorb offerings IN the
later positions, which narrowed oil
ferences some. December dipped tt
34.74, but then improved on more de.
tailed reports from the weather anc
anticipation of bullish ginning figures
and flrmness in spots. Later In tht
day the option sold up to 1914 the en-
tire list being at new high marks tol
the movement and little indication. o.
the bull fever being over was noted.
Advices said that spots were goint
as fast as offered, but sales were re
stricted somewhat by lack of them,
Futures closed 26 to 81 points higher
tone very steady.
up, tone very steady. Spots were D
points higher, middling at 1913, ant
sales were 6,523 bales.
Liverpool is due to come 10 to points
up. M
In the, local market sales were $40
bales and quotations were up ~
points, middling at 3Sc.