The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-11-11
COTTON Markets
Coal Strike Settlement Favor.
able, But Improved Weather
Also Factor.

AANsNdg 9AAtA ttDuf NV. IL
But for the fact that weather over
night turned better and removed the
basis for some Of the gloom which was
so thick yesterday perhaps the good
news that the big coal strike was to
be called off at once would nave stimu-
lated a sharp rise In cotton. AS Il wa
there was plenty OF steadiness, but only
a moderate advance as measured by re-
cent standards, In the mindse OF many
~weil-posted people the increasing evil
dence of stronger money rates is be-
coming worthy of consideration and is
helping 10 hold in check disposition
70 continue buying. II is believed the
effect of this tightening is going to be
salutary and possible avert some seri-
GUS troubles later.
The strike news was known before
me opening and created a feeling OF
instinct optimism, for it was thought
70 mean better things in the general
industrial situation. The firm stand
taken by the government and the at
htudc Of the miners leaders IN the face
OF 1t was interpreted to mean that
tae day of rank radicalism is begin
ming to pass. This view naturally slim
ulated bullish feeling.
ON the other hand there was evidence
OF the banking interests taking steps
70 put a curb on the reckless specula-
EiNN NNNANAt@ Which mas Deen SuEReELlN6
Tor some time Of danger If allowed to
continue, The stock market started
under the conflicting influence of the
strike news and tight money, the early
renewal rate for call loans being IA
per cent.
The weather map showed clear skies
IN about tWo-thtrds of the belt, but
some rains IN the eastern third. In
dications We're for no cooler in the
west, but later bulletins predicted frost
from the central to. the eastern belt,
which in a limited way stirred up some
ouilish feeling. The outlook, however,
was for better weather than for some
time, although it is appreciated that
the rains have done considerable dam
age that can not be overcome. Texas
and Oklahoma were cool this morning,
but no frost reported.
Liverpool was due to come off sew
eral points, but was better on the
strike news on this side. Toward the
close strength increased and finals were
very steady at gains of 90 to 3 points.
Spots were marked off 29 points, mid
ding to 25.31d, with sales 10000 bales.
Imports for the day were $4,000 bales,
including $4,000 American. Manchester
advised that cloths were active and
yarns firm,
First prices on this side were firm
and higher, but some profits were ac-
cepted and a temporary dip followed
the early bulge. MaFch IN New York
opened at $3.50, dipped to 36.04c and
then sold up to 36.55c. The buying
power failed to continue 80 general and
more liquidation came in, but failed to
bring about much recession, as spots
were too steady and some wires told
Of continued demand for certain grades
and characters, In the afternoon adj
vices from interior points told OF more
spot activity and that sent prices back
almost to the early high points.
Futures closed IS points up to 105
down; tone easy.
New orleans closed 30 points up to 5
lower; tone steady. Spots were UNI
changed. middling at 1850, and sales
We're 2,969 bales.
Liverpool is due to come 6 to 0 points
lower.
In the local market there is said to
be plenty Of demand for staple, but
short cottons are not so much wanted
as they were, except the high grades.
What the value of the low cotton now
coming In is a matter of considerable
guesswork yet on the part of both seller
and buyer. For the day sales were
1850 bales and quotations were UNI
changed, mlddling at Acc.