The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-10-07
COTTON Markets
Cables Again Better Than Due
and BulliSh Sentiment Pre-
VaiIS-SpotS Active.
Tnesday Afternoon. %.


Bullish sentiment apparently contin-
nes in the ascendancy in the cotton
market, but after a moderate advance
today there was more willingness to ac-
eept profits and be a little more liberal
in selling. There seems TO be good
foundation for the altered sentiment
but IN conservative quarters II Is feared
TO follow the rise toe closely after such
sharp rise in a short period Of time
The weather was a factor in the
strength shown for heavy rains have
fallen in the Southwest and a number
Of stations in Texas were stil getting
rain today. This does not mean good
for the crop out there and many wires
came telling Of interruption TO picking
and Of lowering Of grade. This nat
uraliy stimulated anxiety among those
who are short the actual and expected
10 fill some Of their requirements in
that direction, It was recalled that
lew years ago fall rains set in and
r1ined the high grade cotton in Texas,
and with the season so late such was
brought TO mind as a possible source Of
danger again this year, for 1t means
that frost can do lots Of harm to cot
ion that is kept green and growing by
the rains. Advices told of almost a
scramble for good cotton out there and
some said that the basis was up TO
where II was some weeks ago
The Liverpool market again came
better than due. indicating that in that
direction there is more disposition on
the part OF the spinners TO provide for
their needs. Offerings are limited,
which finds quick reflection this side,
Finals in Liverpool were 80 to 10 points
to the good, whereas unchanged to
four points up was due Spots were
up So points, middling to 20. ESD. with
sales 10000 bales, the biggest business
for one' day in many months Included
in this were 1900 bales American. Re
eeipts were but 1000 bales. none Amer
lean. Cables indicate that the passing
of the strike and a feeling that peace
ratification is coming sooner than re-
Gently counted on are stimulating bull
ish thoughts over there.
In the domestic markets prices at the
outset were steady and higher, in re-
Spouse to good cables and to reports of
additional rains In the belt, where they
could have been done without, DeCem-
Der In New York started at 80 25c and
sold up to ~ 4Sc In a short while, but
profits were accepted and the rise
checked in that way. Sentiment was
hullish and there was plenty Of bullish
Information out, but failure Of frost to
strike the northwestern belt as some
expected, tended 10 induce little reac-
ton. But there was too much talk of
demand for actual and offerings were
too scattered for much setback to come.
Firmness in the stock market and a
growing notion that peace will soon be
ratified helped encourage support. The
list kept within narrow range. but
late in tho afternoon sagged to the low
est level Of the day, December touching
39.10c In tho final hour.
There was an increasing movement,
some Of II to the ports, which showed
that there Is basis for expecting larger
exports soon, but for the day clearanccs
were not only about $4,000 bales. The
unknown question Is how much October
short interest there Is, but bulls seem
TO think II considerable and the prices
being paid for good grades indicate that
the shorts are making cost secondary
TO getting the stuff. Holders are dis
posed to turn loose at current figures,
but they are In the saddle for the time
being
Futures closed to IA points up, tone
strong.
New Orleans closed 10 to 20 points up.
tone steady, Spots were up SS points,
middling to S2.6Sc, and sales were S,O39
bales
Liverpool is due to come s to points
In the local market there continues
willingness to turn loose receipts, but
prices are dictated by the seller and
some fancy premiums are being paid
for the most desirable kinds OF cotton,