The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-03-17
COTTON Markets
Heavy Rains in Belt Help Bulls
But Spot Demand Fails
to Show Snap.

'A-r HhNhAA NHAAH hANDNA lie
Heavy rains over sunday in the up
per central belt, particularly in the
Memphis district. with premise Of them
extending eastward. constituted one Of
me main reasons why prices went some
hlgher today. The lack OF snap in spot
demand ana some seliing from the
South on the bulge tended 10 discourage
continued buying and thus helped IN
lhc moderate reaction, The affair as a
whole was without special feature and
ACTIVITY was moderate, with the under
tone steady.
The rains were not heavy over Sun
Gay IN Texas, seemingly having been
only in the upper section Of The state.
But IN the states Of Arkansas, Missls-
slppi, Louisiana and Tennessee the
doWnopurs were heavy, the Memphis
station showing nearly 10 inches in as
hours. Besides the flooding Of the low
lands and washing Of the hills this
meant further delay in farm work. The
indications this morning were for rains
In the eastern belt, followed by clearing
and cooler, The market felt some bull,
ish effect from the rains, but there was
no disposition TO let that be the chief
influence, as il was too early for the
effects to be lasting. Besides, in the
southwestern belt they did not inter-
tupt work.
Liverpool came better than due early,
bNh hlpptu sumo ana llnlSheu uulet Dut
STEADY and unchanged to 5 points net
to the good. There was nothing Of
special Importance In weekend deyel-
opments as to international politics. bu'
the continued turnover in the actual,
5000 bales changing hands today, at
an advance Of 81 points, indicated that
Manchester Sptnners are evidently do
ing more business. Receipts for the
day We're $4,000 bales, including 80, 700
American,
AT the opening on this side the list
was largely under the influence Of the
weather. Old May opened up s points,
at &c, while the new was up 20 points,
to "a Sac. Some realizing was done In
old May and II dipped to 30. 76c before
shooting up To 24,50C, while the new
was steady and worked up as high as
% zoe, which proved top, Liverpool was
credited with doing some Of the buy
ing In old May early, reducing the short
interest held here, but there was little
explanation for the strength In the new
other than the ~unfavorable weather.
Later on certain prominent spot inter-
ests were credited with selling some.
Trading was largely In the new months
and May sold down to "a, soc In the ar
%ternoon. There seemed "A little better
demand at the lower level. but buying
was by 20 means aggressive,
News from the spot department was
scarce. Some wires from Texas told
VI inquiry uSllk HIHltcu, ana tneFe
seemed little business pending else
whore. The export movement contin-
ues light and domestic ~spinners are not
disposed yet to enter the market on a
large scale. although trade accounts are
still improving some.
Futures closed 30 points up to Is
down for old and l6 up to 10 down for
the new, tone steady.
In New Orleans old contracts closed
10 points up to 3 down, and new 2 down
to 6 vi tone steady, Spots were un-
changed, middling at 1850 and sales
1853 bales.
Liverpool is due to rome 20 to 20
points lower.
In the local market sales reported
were 2,200 bales and quotations were
unchanged, mlddling at %. 25c.