The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-03-11
COTTON MARKETS
Gables Worse Than Due and
Reaction Idea Prevails This
Side-Weather Better.

aNH'NF aNANNA lANNNNtH ANtlINN H.
Reactiouists were more CONSPICUOUS
to-day and there was a check. for the
time being at least, 10 the upward
trend OF prices. But little news came
TO hand 10 explain Il. so IL was pre-
sumed TO have been due 10 a feeling
that after the recent advances Il was
hot safe 10 follow Il too closely. es.
pecially AS there has yet TO develop
any pronounced change In n snnt
demand, Inquiry continues disappoint-
ing ana il appears a case Of spinners
not yet being impressed with the ueces-
SHY Of taking hold. What will stir
them up ana induce them to buy free
~ is for time to determine.
AdVices telling OF further reductions
IN the prices Of certain staple goods
mAy reflect slowness Of business be
ing received, or IL might mean antici-
PATTON Of being able TO buy raw ma
tertal so much cheaper. one OF itg
results will probably be further de-
4erment Of buying, as those who need
NE goods will naturally wait until they
thlhk prices have dragged bottom, IN
less pressed by the necessity OF filling
some OF their shelves.
There was more talk Of progress
toward the peace conference and of
a probable opening up Of business be-
cause of lifted embargoes, but this
was not definite enough TO offset the
leeilng that the technical position a
such as to Justify a reaction. Tho
securities market, which has been one
OF the sentimental influences for e
eral days, was today not so strong
ana bulllsh feeling seemed TO be sub
siding there to some extent.
itverpo"! came disappointing. but
there was little news to explain il.
finals WRTR huFRIn EfaaAVr utnl 0pN - N
points to the bad, with the near months
Off most. Spots were marked up 20
points, good middling to 1850, with
sales 1000 bales, including 500 Amer
lean. Receipts for the day we're 5000
bales, including 5000 American. Man
chester advised that cloths were steady,
but yarns were moving SLOWLY.
Near months in the old and new
contracts displayed a bit Of strength
at the start, but IL was quickly dis
slpated because OF the weakness
abroad. Old May started 90 points up,
at 22,95, but dipped TO O.. so, while the
new opened at 2s.l5, touched 20. 20 and
men dropped back to 22.75. After that
there was a little improvement and
lack Of pressure, hut buying power
seemed limited and timid and the en-
tire list moved within a narrow range,
Mays and Julys wideRed their differ
enees a little, but with what slgnifi-
lance none could say. The news from
Washington that two more grades,
strict middling yellow stain and good
middling blue, had been eliminated from
the list Of those deliverable failed to
be Of importance, although II did not
hurt. the contract from the standpoint
OF him who might want to accept ten
ders.
The weather map showed that con-
oitions we're better, md that very little
rain fell In the belt over night. A
high pressure extended over the great.
err part OF the belt and indications were
for gradually warming up and clear
skies. However. there Is still much
delay to be overcome and advices tell
VI light sales Of fertilizers and Of
progress In the movement FOR cutting
cotton acreage.
Spots were generally quiet and
steady, with business small, The CEN
sus consumption report, which Is due
Friday, In expected to show up bear
ishly, and by some this was n factor
IN the days reaction.
Futures closed 81 to 10 points of for
old and to 81 off "a for new, tone bare
ly steady.
In New Orleans old style closed 10 to
Is points Off and the new ~ to % off,
tone steady. Spots were unchanged,
middling at @725c, with sales 1919
bales.
Liverpool should come . to / points
lower,
In the local market sales reported
were 1000 bales and quotations were
without change, middling at q. SOC.