The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-09-29
COTTON MARKETS
British Strike Encourages
Selling Early, But Reports
on Condition BuIIiSh.
Monday Afternoon. Sent aa 1a1l

OHuaS AFTERNOON, Sept. %, 1919.
But for the character Of news COM
ing to hand early regarding the Biz
Rtrike in England. which stimulated
oeaTlsh feeling and more or less liuui-
patton, the chances are that bulls would
1aNe haa an inning today. There were
several reports on condition. ranging
from 5a.l 70 55.1. nd they Inspired
fresh bulltsh feeling, which tended "a
OiIset the dapgession caused nv the nm
settled state Of labor and Industry, The
niaIket was nervous affair and SEN
sinleht uecloedly mixed, but with the
4 aVerage man disposed to play safe and
not take decided stand either way
AANerpool was very much disturbed
Dy the state OF affairs in that conn
try and started of much below what
was due and grew worse rapidly, as
t ne seemed reason for thinking that
Iiie strike was going to be very serious
me ofiicial statement that the miners
ana other labor interests were likely to
become involved and that Industry
would likely be tied up scared traders,
CUT later IN the day moro sanity SEEM
ca 10 prevail and some recovery fol-
lowed. 1t was the first day of trading
under the changed time, over there,
CLOCKS having been turned back an
hour yesterday, so finals from Liver
pool did not come until o'clock Amer
IcAh Eastern time. They were ,steady
u,
but much better than the worst for the
day. Spots were marked off 81 points,
middling to 19.34d, with sales 1000
Dales, Including $500 American, while
ieceipts We're $4,000 bales, including
1880 American.
On this side there was the steel
strike icing what was regarded as
the crucial day, while the British situ-
alton was very disturbing. The con-
dltlon reports were low, but not any
more so than anticipated, so the other
news received most attention. First
prices were moderately lower, Decem-
Der In New York being off points, at
a2.52, but there was LIQUIDATION and
soon it touched 31.9S.
For while there was little trend, but
when it was rumored that the English
strike might result in shipping being
tied up, there was some more encour-
agement to bearish ideas. Sterling was
also disposed to weaken some. How
ever, December worked back up to
S2,20c and then dipped to 31.70c on the
report that the American shipping board
mad ordered vessels to stop loading for
Great Britain. Good support came at
the lower level, and there was hur-
ried Improvement, but 1t did not go
far. In the early afternoon better re-
ports came as to the situation in Great
Britain and more attention was given
. to the low reports on crop condition,
December worked back up to 32.40c, the
highest Of the forenoon More encour-
aging advices as to the domestic strike
outlook also figured in the improve
ment
Nearly all the private condition re-
ports are now out and the ideas on the
official guess, due on Thursday morn
\ ing, are around "a per cent, Such d
n figure is believed to be largely dis
counted
The weather in the belt now is favor
able and there was nothing today TO
cause anxiety. Picking is proceeding
and movement is expected to become
larger right away. Spot advices today
did not appear quite so bullish and
some thought that the September short
commitments must have been pretty
well filled as some wires said offerings