The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-10-03
COTTON MARKETS
Cables Disappearing and
EaSineSS Follows This Side.
Pressure Is Limited.


There was little aftermath today to
the government reports Of yesterday
and In no important quarters was there
disposition to question their accuracy
or finality Attention was directed in
other channels and nothing transpired
to occasion much activity, Sentiment
perhaps remains bullish In most specu-
latiNe quarters, but NOT TO the extent
that buying Is aggressive and some
developments during the day helped
bring about moderate pressure, The
illness OF President Wilson is mat
ter of concern 10 all the markets and
there was a reactionary disposition for
time in all Of them, although fairly
good support. was given and recoveries
were witnessed.
The foreign market was not up to
expectations, but just why was not fully
determined. AdVices as to the Brit
stsh strike situation were mixed, al
Though preponderant feeling seemed to
be that a, way would soon be found to
end the trouble/and get the men back
Ito work. The fact that the peace treaty
was ratified by the French deputies
yesterday. was regarded favorably, but
evidently the British traders were a
little encouraged bearishly by the re-
ports over here yesterday Al the close
Of the foreign session the list was quiet
and from s to Is points to the bad,
were marked down 20 points, middling
to 1850, with sales 5000 bales, includ-
ing $500 American, the best days bust
ness yet Receipts were but 1000 bales,
but none American. Manchester ad-
yised that cloths were firm and irregu-
lar, while yarns were steady,
First prices on this side were off
somewhat, December in New York be-
ing down is points, at 3l,95c. There was
little In the news and traders were
mixed in their views. Overnight con-
sideration Of the reports failed to bring
willingness TO do much in the market
because of the unsettled state of SEN
timent and the possibility of compli-
cations in case the chief executive of
the country gets worse, December sold
off to 31.58c, but there was good buy
ing, some of 1t for trade interests, the
result being recovery of about dollar
the bale.
There was still information as to
strength in the spot department, but
later there was report that demand
was less keen and the basis lower in
some centers. This apparently helped
TO depress the list slightly in the late
afternoon, December dropping to 81, SOC
short while before the close.
Close attention is going to be given
to developments in the spot depart
Inent, for this will in all probability be
the determining factor for time. The
weather continues favorable for the late
cotton and picking ought to be making
excellent progress. With the Septem-
Der commitments out of the way there
will be interest in how they will be for
October.
The movement is still moderate, but
takings by spinners for the week were
| larger than year ago by a goodly
margin, resulting In further relative
decrease in the visible supply. But sta
tistics for the moment are of secondary
interest. 0.-"@.-
In the final half hour prices broke
further, as offerings were too liberal
for the absorptive power. Less IA
vorable spot adviees helped In the de-
cline, which extended to over 100 points
from previous close.
Futures closed 102 to ITO points off
tone weak.
New Orleans closed II to 129 points
lower, tone weak. Spots were off Sc
points, middling to SIC, with sales 2,7Sa
bales
In the local market sales were 1,25C
bales, making $3.50 for the week. Quo
tations were unchanged, middling $3.50
Estimated stock unsold In the hands
of factors is $4,000 bales. compared
with $4,000 last year and 1000 in 1917
Linters in stock are $4,000 bales, COM
pared with $1,000 last year and 5000 in
1917.