The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-04-07
COTTON MARKETS
Further Strength Abroad
Helps This Side-POIitiCaI
Situation Encouraging.

Monday Afternoon. April
There is stu an optimistic feeling re-
gardlng political developments abroad,
and Il is having favorable Influence on
cotton values. Liverpool today made
fui response 20 our advance OF Satur-
day, and this in turn was reflected by
further ftrmness over here. There rs
some expansion iu demand for raw
material and feeling In that direction Is
more favorable. In addition to all Of this
weather conditions are not ideal and
there Is stun much delay TO be over
come, There is confidence In the sue
cess Of acreage reduction plans, aud
apparently some Of this is finding lodg-
ment in the breasts Of the consumers
OF cotton.
Much OF the credit for the firmness
in values vas due 10 the action Of the
British market, where sales of spots
continue indicative Of better business
with the Manchester mills. The utter
ance Of the British premier that peace
would be ready TO be signed by Easter,
which is less han two weeks away in
spired courage and perhaps helped slim
uiate bullish feeling. Private advices
also told Of better inquiry for goods
nom India and China. Liverpool fI-
lures were due to ONE 20 to "a points
up, but finished steady n So 10 ~
up, which was fine response to what the
American markets did on Saturday.
Spots were marked up 81 points. good
middlinE to II Esd, with sales 5000
bales, including 1900 American. Re-
ceipis were 5000 bales, only 800 being
American,
At the opening prices in the domestic
markets were steady and higher, July
being up 20 points to 24,25C. There was
but little for sale and support was COM
ing from spot people. The weather over
the Weekend Was not so bad, although
some rains fell In various sections that
could well have been done without. The
map indications We're for rains over
most Of the belt within the next "a
or rs hours, TO be followed by colder,
with perhaps some frost. This suggested
further inter- upton to farm work and
planting, the latter being under head
way in many sections. July worked up
TO 244fC, when profits began to be Ia
ken by many traders, resulting In "A drop
70 2A09c- Later prices recovered, as
there was but little for sale and adj
vices from the spot department were
favorable, some fairly large sales be-
ing reported ut some centers and ex-
ports for the day being good.
one feature attracting attention was
that May and July in New York, new
style, were working closer together,
having been less than 200 points apart
during most Of the day, whereas less
than a week ago May was "a a premium
thought to Aaccctt confidence in ''1 the
strength In the spot department.
But little was lone in the Old con
tracts, and trading Is expected to get
lighter in them each day, as there are
only about three weeks left for liquidat-
ing them,
Spots were steady aud % points high
er In New Orleans, with sales 2,47g
bales, There was good business in some
other centers, with exporters doing
most Of the buying
New contracts closed 3 to SIS points
up, old q to 30 points up.
New Orleans new closed II to IS
points up. old unchanged to 1872 points
up tone very steady.
Liverpool is due to come l to ) points
higher.
In the local market the sale Of one
large lot, reported as nearly 1000 bales,
swelled the total to the largest figure
for one day in "A long time. Demand
was more general and feeling was bet
ter among holders, Sales reported were
$3.50 bales and quotations were I'M
changed, middlinE at assoc.