The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-05-02
COTTON MARKETS
Good Gables, But Liquidation
Meets Domestic Advance.
Weather Is Good.

Friday Afternoon, May ?
Further firmness wal displayed In the
Liverpool market, especially In the near
options. which was a factor in the early
strength on this side, but there devel-
oped fresh disposition to accept profits
on the bulge. Weather conditions were
favorable and there was more DISPOSE
ton to consider two sides, which helped
IN the reaction, which carried prices
back upon last nights finals. Trading
was on q fairly large scale, but there
was no evidence OF any concerted eff
fort TO boost values. The strength
shown In the stock and grain markets
apparently was a factor in cotton, while
willingness to sell by the South and
danger OF following too closely a spec
ulative rise discouraged aggressive
buying.
Liverpool was due to come i6 points
to the good, btu finished 80 to IL points
up. Private cables continued to tell OF
favorable trade conditions and the spot
turnover lends confirmation thereto. At
an advance Of "a points, middlng to
1920, spot sales were 5000 bales, In
Guiding Is, 300 American. one cable
said the near months were stronger
than the rest because of scarcity pf
ocean room for getting larger movement
In that direction. Manchester Officially
cabled that cloth demand was good and
yarns were firm. Another said that
business with the spinners was so good
that operatives were considering ask
ing higher wages,
On this side first prices were higher
because Of good cables n favorable
developments at the peace table. There
was also no change In the optimistic
trend OF adyices regarding domestic
trade, while firmness In stocks made IL
easier for cotton values to ascend. The
weather map showed normal tempera-
lures and little rain, which was basis
for expecting some excellent reports
soon as TO the progress of the crop.
A New York paper was out with q
preliminary acreage estimate, figuring
reduction at liz per cent, which gave
encouragement to some bearish quar-
tiers. as Ii was regarded as so much
less than the South had Wen work
ing for, This, like all the other esti-
mates at this time, Is admittedly ten
tatiye and merely tends to influence
sentiment.
July opened at 27.1Oc, up % points
owe night while October was up %
July touched 1880 and October 25,33c,
the highs for the day. after which some
reaction came, However, the backward
pace was slow. for there was good unr
dertone.
In the afternoon session July sold
AoWn - HOW dA AusOOC anu OtlOutt u
2A.75o under the lead of pro~fit-taking
sales encouraged by good weather,
II was assumed tina the weekly
statistics were going to be about "A
stand.off, because takings compared
with less this week last year than
usual although the export movement is
still restricted by scarcity of ships.
Spots were steady TO firm and in New
Orleans were up 81 points. middling TO
CSC. where sales were 5,991 bales. Wires
from there said that ship space was
grabbed quickly there, and 1t IL bes
cause of the lack OF room that clear
ances are not larger than they are. The
spot situation in the belt continues
healthy and sales are generally as
large as offerings win allow them to be.
Futures closed "a to 10 points lower,
tone barely steady.
New Orleans closed 0 to 81 points off.
tone steady.
In the local market sales were a,i00
bales. making 2e,500 for the week. Els
timated stock unsold In the hands of
factors 10 $4,000 bales. against 1877 900
last year i40, 900 in 1917. Quotations
were unchanged, middling at Csc,
Linters In stock hrs IS, 900 bales,
against Ill., 900 last year and 1900 In
1917.