The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-06-25
COTTON MARKETS
Cables Poor Because Labor
Trouble Unsettled, But
Strength This Side.

Wednesday Afternoon. June Is.
M5rkeo weakness was displayed by
me Liverpool market today, and It was
attributed to adyices telling ~ faiInrs
70 settle the strike, the mill owners re-.
using TO accept terms named BIZ their
operatives. But this did not exert much
lnIIoenee on this side, and after A
temporary dip around the opening. also
neIpea BY circulation of notices for
msarIy 10000 bales in New York, an
UPWARD movement carried the list 10
new high levels. July in New York
t9neaed 80 cents and October S2.9S,
which was nearly IS a bale over the
lowest Of the session. There was con-
SIDERABLE profit-taking on the bulge.
OUT the reaction did not get far before
supporting orders were met.
The weather wa one Of the factors
OF eng Tor II continues unfavor-
able In most of the belt. Rains during
me past "a hours were Widespread
reaching from Texas to the Atlantic
coast although in many sections they
were not heavy enough to do more
than stimulate increase in the boil wee
WI The outlook was for continued I'M
gloom. ~
The weekly summary Of weather was
regarded as bullish, although 1t con-
conditions, chiefly in the eastern belt
The report did not contribute much
10 the buying disposition, but tended
70 discourage selling. The fact that to-
day is the last to be included in the
coming bureau report on condition
oa aea attention to be given to its
probable showing, and 1t Is generally
agreed that the percentage will be low.
some guesSes are for less than 70.
which would be the lowest on record
Tor, the July report and several points
under the 1O-year average.
The peace situation did not get much
notice, the idea that the terms will
be signed soon having been thoroughly
discounted. However, the report that
there was still a slight possibility Of
some hitch served as a partial pretext
for some liquidation on the bulge.
higher, but instead closed quite and
stead va point off to 5 UP. Spots were
mar ked off 10 points, mlddling to $20.O5,
with sales 1000 bales, including $500
American. Receipts for the day were
10000, including $500 American. The
strike naturally checks business in the
actual, although in best informed cir
cles It is believed there will be a settle
ment soon.
Opening for October in New York was
down IL points, at $32. 20, and 1t sold
off to $32,03 before the tide turned,
First reports had 1t that only a few
notices were issued, but later it proved
~ "t0ly SutVuVt NlliNH lCIIlpOT dTllN
depressed the list. But soon there was
stopping of them by spot interests, in
GLIDING representing foreign consumers,
and that together with the weather
and crop news sent prices scurrying
upward. Among the big buyers were
spot people.
News from the spot department was
not of much Importance, but there is a
lack of snap to business. Quotations
at some centers were slightly reduced
and some OF the reports say that de-
mand is slack. 1t is quite evident that
just now the trade Is giving more at
%.ention to absorbing contracts than
they are to buying the actual, although
holders Of the latter are very indie
pendent and the basis is very high. New
Orleans reduced quotations rs points.
to 32.25c with sales 2,1S2 bales.
Futures closed 81 to IS points up, tone
steady.
New Orleans closed Is to 90 points up,
tone steady. -"
Liverpool is due to come II to Is point
up.
In the local market sales were 1.150
bales and quotations were unchanged,
middling at 80, SOC.