The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-09-09
COTTON MARKETS
Market Nervous and Easier
for a Time, But Storm
Fears Bring Recovery.

. '~
There was no very decided trend to
cotton prices today, but the speculative
atmosphere seemed healthier and bear
iSh sentiment was not quite 20 general.
mere was a good weather map, except
tnat the storm which for DAYS has been
paying about in the gulf seemed still
ABOUT to strike Florida, this giving some
occasion Tor concern, for a storm and
torrential rains at this time would do
harm. Later in the day prices jumped
on reports that a lO0smile win was
blowing at the southern tip of the penin-
sula; indicating considerable Intensity
20 the disturbance, The extreme high
level was nearly 100 points over the low
OF the forenoon, but there was not suf-
tclent buying power to sustain prices
and in a little while prices were a shade
below last nights finals and trading had
become desuitory in character.
Inc announcement that both New
FORK and New orleans markets would
be closed tomorrow because of Pershing
day and the danger OF the weather get
ting bad before Thursday encouraged
some short covering, New Orleans tax
ing the lead In II, as they were closer
10 the storm and seemed TO pay more
attention to it.
Tn Liverpool market did not do as
well as expected, although at first
showed fairly good gains over the pre-
vious close. Before the close, however,
considerable irregularity prevailed and
finals were quiet but steady and from
one point off to II up. Spots were
marked up Ia points, middling to 1S.15d,
WIN sales the largest in a long time,
1000 bales changing hands, Receipts
for the day were 24.BOO bales, all AmerI-
can. Manchester reported that cloths
were, moving slowly, while yarns were
irregular.
At the opening some e%asiness pre-
vailed on this side, helped by poor
prospects, The official forecast did
not indicate that the storm was ex-
pected to enter the belt, and this help
ed in the liquidation, the December
position dropping TO 1854 after having
opened at zoe. But offerings failed to
last and there was improved support.
for the storm was a factor and a slight
improvement in sterling was reported
Later on there was quite a hurried
rise which carried December to 20. As,
from which it soon reacted to 29.03.
There is but little new in the situa-
lion and sentiment is fairly well di-
vided around current prices. 1t Is ex-
pected that producers will put up a
stubborn fight before accepting lower
prices and some effect is expected to
follow the meeting in New Orleans,
which has for its purpose the fixing Of
a minimum price to be recommended
as reasonable and for which holding
will be attempted. Dallas wired during
the day that better demand for the
actual was noted there while a fairly
large lot was sold yesterday in Augusta,
Ga, middling there this morning be-
ing quoted at 27.50, an advance Of 50
points over yesterday, Exports for
the day we're about 5000 bales, but
there is little indication of improvement
in this respect soon.
Futures closed % to 4S points off,
tone barely steady.
New Orleans closed 20 to % points
lower, tone steady. Spots were I'M
changed, middling at $4,000, with sales
500 bales.
Liverpool should come 10 points high
er.
In the local market sales were none,
and quotations were reduced so points,
middling to 30,0 0