The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-11-06
COTTON MARKETS
Ginning Report Causes Lower
Liverpool and Some East
ness on This Side.
Thursday Afternon. -

thursday Atternon, Nov, g.
issuance Of some private figures AFT
CT the close yesterday showing GINNING
Tor the past period larger than expected
mad considerable effect on the Liver.
pool market this morning and in tprr
on this side, although support was
forthcoming and for a time about hal,
= ne loss was recovered. However later
IN the day liquidation again became
more Plentiful and resulted in nrices
olpplng to a level approximately 1Of
points below last nights finals. The
La ket continued one in which the
dominant influence is the strength in
spots' and pending some definite tend.
Sicy on the part OF holders to make
SSoIceSslons or grow anxious about sAil
g, mere seems small hope Of the con-
az department easing off much, That.
AT ieast, Is current opinion.
me ginning figures from the Nation
sinners association were ,325 00)
oee 40 LOT the period, compared with
Soo,OVV Tor same time last year. total 10
nov ! having been 5000 against
l,nLOo0 last year, The same AUTHORITY
SSo ohnated the crop indicated at 10, 900,
v vTt wnich also was above current ideas,
enttuouBh the postponement OF killing
IroSt and the better turn in the wealth
mas caused a tendency recently to
eievate expectations to some extent
Liverpool came much below expecta-
lions, as result of the figures and for
tne llrst time In quite while was re-
dictionary. Finals were irregular and
unsettled and from 80 to IS points net
70 the bad. Spots were marked down
20 points, middling to 2548d, with sales
IL, O00 bales, including 10, 200 American.
while nothing was received.
First prices on this side were sharply
oown IN response to cables and the
forthcoming during the first few min
utes March, now the most active po-
sltlon, opened at 36.50c, a drop of 81
points over night, but touched sc. lsc be-
lore working upward when trade sup
port came. There was insufficient pres
sure 70 offset the absorptive capacity
ana the spot department failed to lend
much encouragement to the break.
March sold back up to around the
opening level, but in the afternoon
again sagged and short while before
the close reached 3604c, a net loss Of
" points But buying improved again,
coming chiefly from those who still pin
their faith on the spot department.
the weather map showed fairly good
conditions, although one or two stations
reported 1t raining, while the indications
were for some more to be followed by
Soluer peIore the weekend. This i'm
proved weather is causing some better
reports from the fields and so long as
frost holds off there will be hope OF the
later cotton turning out fairly we'll.
Reports do not indicate that for GER
\ tain kinds of cotton there Is any less
demand. but some of them say that the
worst has passed. and the buyers are
not SO eager to take hold Of what is
beginning to be offered The fact that
spots are still so far above contracts
is the chief basis for bullish confidence.
p. Futures closed S5 to rs points lower,
tone steady
New Orleans closed AZ to 80 points
off, tone steady, Spots were unchanged,
middling at 40:50c, and sales were 81
62T bales.
Liverpool is due to come to points
lower.
In the local market sales were 1900
bales with quotations unchanged. mid
ding at 42c.