The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-12-15
COTTON MARKETS
Liverpool Shows Strength and
Exports Heavy, But Sup
port Is Not Aggressive.


Strength was displayed today in the
Liverpool market. where response was
better than due to meet the action Of
our markets on Saturday, but il failed
70 De sufficient to offset some DISPOSE
Iloh TO feed out offerings on this side
me result Of the complex situation was
a narrow market. with more or less
packing and filling One feature was
mat liquidation seemed more manifest
IN the nearby positions than the others,
indicating feeling Of hesitancv regard
ing the ability to sustain them at pre-
NaillnS premiums over tho later months.
while there is talk Of deliveries on Jan
tary contracts, on the other haul
there came from New Orleans advices
saying that II was expected that con.
siderable cotton would be demanded on
contracts there
The sterling market was better by
So Veral points, although this did not
Seem sufficient TO induce much buying.
JUST what was the occasion for the i'm
pfoNement none could say. but II tend
ed TO encourage the notion that the
worst has been witnessed and there
may be hope of better showings from
ms time on. On the other hand. how
ever, the money market was stiff for
call money started the day at 9 per
cent. The stock market was disposed
| helplrg to cool the ardor OF those who
were bullish on cotton
| Exports for the day were liberal and
| the total for three days Is about 1875,
| 700 bales. The restrictions on fueing
| OF vessels at the ports were lifted dur.
| ing the dav, which was favorable for
further large exports, for there ar.
| large lots or cotton on shlpboard await.
| ing clearance, The bears, however say
| that this is hardly a basis of PUSHING
| prices higher, as the cotton has already
neen bought and paid for and the thinr
| the market needs now is to have de.
mand improve at the interior, where Il
Is slack
Liverpool came much better than ex.
nected, but as the day wore on wa!
disposed to sag some and finals were
steady and from to IS points net t
the good. Spots were marked up .
points, middng to 26.25d, with sale.
81 1000 bales, including $500 American
Receipts for the day were 30 900 bales
including $500 American. Some private
cables said that the continent was buy.
ing more freely there today.
Opening prices on this side were with
out much change from the previous
| close, in spite of the good cables, anC
| there was dip from the start, which
| carried March in New York off to 33.l
| from its opening at 33,40 Buyin- wal
| uOIe loI biNeTpOOl account ana the sell
| ers failed to continue their activities
| which resulted in recovery to 80 6Oc
after which a lull came. The firmnes
OF sterling, rates being up several point
| from Saturday, helped in the upturn
| but later selling was induced by stiff
cal money and absence Of occasion TO
doing much on the buying side. Marcel
dipped to S3.O5c and then recovered t,
33'5Oc, only to sag again towards tn,
| close
In the spot department business wa
| Slow, and it Is expected this will be tn,
case until after the holidays. The bet
ter grades and specialties are cas-,
enough to sell, but they are very scare,
and held firmly.
Futures closed As to points up, ton
| steady.
New Orleans closed 1856 points up T.
unchanged, tone steady. Spots wer
up rs points, middling at rs and sale
were S44 bales.
Liverpool is due to come IA to l
points up.
In the local market Gales were 80
bales and quotations We're unchanged
middling at $3.50.