The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-04-23
C0TTON MARKETS.
Liverpool Disappointing and
Helps in Decline Early, But
Recovery Later.

AlaNNH AN|I aH.
After her prolonged Easter holiday
period Liverpool resumed business this
morning and proved a distinct disap.
pointment to the trade, being q factor
n the r~eactionary disposition shown IN
me domestic markets. However. there
was good spot business reported. 1000
bales changing hands al an advance
OF - points sterling, tending TO confirm
auViCes or excellent conditions In Mall
chester. The weakness over there OK
tehded light up 10 the close and finals
Were barely stcrdy at the lowest points
OF the day, rejecting some anxiety over
the threatened disruption I'm the peace
conference, but more likely due to ef-
forts OF traders on his side who were
paying attention to the character Of the
weather and crop reports II who
wanted 10 see a reaction for specuts-
tive reasons. Finals in the foreign cen
ter were from S points up TO IL to the
oad, whereas gains OF % TO Il points
were due, Receipts in Liverpool during
me interim were %. 600 bales, including
500 American.
First prices on his side were easier
~ sympathy with the poor showing
abroad and because news from Paris
was not quite so encouraging, the Ital-
ians giving trouble because Of their
claims not being recognized along the
Adrihtlc. Then, too, weather conditions
IN the belt were favorable and II was
expected the weekly report due later
would be hearish. There was little In
the prospect to indicate a bad turn
IN the weather. although a rather high
barometer pressure suggested POSSIBLE
ity OF some unsettled weatt err and cooler
within the next couple OF days.
New July opened off 20 points, Mt
1000, while October was off Is. at
1As25c. Trading was not very active,
y the reactionists were apparently
more confident than were the bulls, !
the latter probably waiting for tho
bears TO show their hand. There we're !
a number Of wires issued to bolster the |
cause Of the bears, including some about |
little acreage decrease. but even with |
a weekly weather summary that was
as favorable as expected the break
TIC not 90 very far n It proved dis
appointing to many July dipped from
&c early Ia 20 .62c, and October touched
Ef.ubC after having been at "a 43C short |
~ after the opening.
There then developed n Eteady alb
sorption and it came from circles that
suggested speculative buying, while
spot advtces from the belt we're favor
able. Offerings became scarce and
prices responded readily, July selling
back NJ to 26.23c and October to 400
by the middle Of the afternoon. The
STOCK ana grain markets were strong
anu lnlS pEODahiy helped give strength
to cotton, for the bull fever was wide
spread, all Of which tended to discredit
%terious fears Of the peace problem be-
ing solved satisfactorily.
spot sales as a rule ware not large,
hut this vas due In a measure TO the
tirmness on the part of holders. Ad-
vices from some C%enters. however. told
81 prices received being relatively much
better than they have been.
Strength continued d,rInor tbo final
half hour and prices made new highs
for the movement.
New futures closed Is 10 "a points
un, old % to "a up. lone steady.
New Orleans new closed is 10 55
points up, with tone steady. Spots were
unchanged, middling at 27.bOc, with
sales l,472 bales.
Liverpool should come % to q points
In the local market inquiry was re.
ported satisfactory, Certain of the
grades are very firm and have
advanced faster than the general mar
ket. Sales reported were $500 bales
and quotations were unchanged, mid.
ding at 27b0c.