The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-08-20
ROUND THE TICKER
Cotton.

New Orleans,-Ihe heavy covering
movement witnessed yesterday more
ated on Mondays decline, although
wel-posted traders expressed the opin-
ion that they would not be very much
surprised to see further gains recorded
today.
President Wilson's appeal for. early
~ratiftcatton Of the peace treaty and the
report that legislation is contemplated
TO stabilize the foreign exchange mar
ket were important factors In the re-
versal OF speculative sentiment. The
PRESIDENTS reference TO the fact that
the central powers Of Europe formerly
purchased 1000, 900 cotton attracted
wide attention. The inference drawn
from the emphasis laid by the nations
executive was that he has some reason
TO believe that the expectation of cot
ton, as we'll as other commodities, would
be stimulated to a considerable extent
by ratification Of the treaty, II seemed
to be the impression that the presi-
dents statement will go a long way
toward restoring confidence in all Of
the markets and general financial cir
eles, with the possibility OF a resump-
ton OF buliish initiative,
Weekly government by states: Texas
Weather ideal for cotton; rather eX-
tensiye damage from weevlls and army
and boil worms eastern half of state;
pest making its appearance in western
half, Ginning Is under way numerous
localities; crop about three weeks late.
ONahoma-Progress of cotton was gen.
orally rather poor, shedding and bloom
ing at the top many localities, condi-
ton rather poor to average north CEN
trail and eastern and generally satisfac-
tory to very good south and west.
Georgia-Much less rainfall with con-
siderRbly more sunshine made the week
more favorable for crops and farm work
but fields are very grassy except in
north. Alabama-Cotton made small
progress or deteriorated In the south,
progress fair to satisfactory in north,
condition very poor to fair in the south
account serious damage from weeVil
n shedding; condition fair to salts
factory In north n central portions,
but rather extensive damage from
weevil and shedding in central portion
picking progressing slowly, in south,
Mississippi-Cotton made rather poor
to satisfactory progress, though very
irregular: weevil damage rather serl-
Gus in south but slight in north. Bolls
opening In delta counties; shedding
prevalent. Misunderstanding OF cot
ton is satisfactory to very good; weevil
are few except in the south where
rather numerous, with some damage;
condition of cotton satisfactory; cary
/ Cultul nearly Itduy 10 open III NANItlllt
south. South Carolina-Not received,
North Carolina-Cotton is good color,
but there Is too much weed; II is fruit
ing slowly; crop made slight improve
ment during week, Tennessee-Cotton
made satisfactory to very good prog
ress with condition mostly satisfactory,
fruiting well. Florida-Cotton made
poor progress and is in very poor con-
dltion due to heavy to excessive rains
resulting in vigorous weed, but poor
fruiting; picking delayed and some re-
ports OF cotton %sprouting In field. Louis
iana--Condition unchanged; considera-
BILE weevil damage reports; bolls OPEN
ing in all sections.
New York.-Possihle trouble with
Mexico was the lever that took prices
up, the fulcrum being the short inter-
est. The rather far-fetched argument
4 was that Mexican cotton pickers would
be forced to leave Texas, ESoept foi
the above feature, fundamentals are IN
no manner changed. II anything, they
are worse, for sterling exchange go
down to a new low and others fonowet
suit, The bulls are revamping the old
story Of Germany's big absorption, buI
take no account OF the financing no,
Quired. Manchester has been r~esellink
in Liverpool, as she found conditions
of trade taperlng off. Our mills show
no disposition to load up with the raw
article and general speculation slowing
down under government efforts to re
duce living costs, -Fallon TO Shepard s
Gluck,
Carpenter & Co.-Any bullish influ
ence now may cause a substantial ad
vance. Orvis Bros.-Further advance
in cotton prices may be expected
l,Hirsch Lillienthal-The market is sti
heavily short and anything favoring III
constructive side could easily put value
higher