The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-05-09
COTTON Markets
Good Cables and Too Much
Rain in Belt Cause Strength.
Spots Steady.

Friday Afternoon, May 2
Strength was displayed in the market
today. and II was based in a large
measure on the character Of weather
IN the belt Impetus was given 10 fears
OF a wet spell Of sufficient duration to
get crops in grass, for such can easily
be serious while labor Is so scarce.
Cables from Liverpool were better than
expected by a gOodly margin and there
continued to be good demand for the
actual, all OF which tended to offset
the feeling expressed In certain quar-
tiers that the market should react fur
Their.
The upturn carried fall months with
in a short distance Of their highest and
offerings were scattered at the higher
level, for the weather outlook was
Vol too good for the next day or so,
Recovery Of the grain markets after
they had sagged also encouraged firm
ness in cotton, traders being impressed
with the ease with which the holders
of both cotton and grain are eliminating
to so large an extent the movement Of
values.
There was nothing Of special import
in the political news over night. AL
though some Of the wires during the
early part of the session seemed 10 re-
fleet lurking fear that all might not
be well as to the peace terms. How
ever. the general feeling is that the
terms will be signed, although in the
meantime, perhaps, there may be
some big talk and threats not to do so.
Liverpool was due to come without
much change, but from the start dis
played firmness. Finals were near the
best Of the day and the list from 40
10 l6 points to the good, nears being
stronger than distant, probably a
Of the firm spot position n the small
amount received during the week In
that market. Spots were marked up
% points middding to l7.l9d. with sales
5000 bales, including $500 American.
Receipts we're only 1000 bales, includ-
ing 900 American,
Frmness prevailed when the domes-
tic markets orened, for cables were ex-
cellent and there were reports from
and Of cooler temperatures in the up
per western belt, July started at
26.65c, a rise overnight Of 20 points,
while October was up % points to
24,S0c. There was but little change
during the first half hour or so in the
near positions, but fall months wefe
well bought on the weather news, which
later seemed to influence all the list.
July sold as low as rs soc and later
reached &c. 94C. October dipped to "a 7bC
after her early bulge to "a, 9bc and
then later, when buying was general,
sold up to 25.24c. only 81 points under
her extreme top.
plpl news was sun lawn dult MN
the sale Of 6,056 bales at New orleans
showed what demand was there. Other
centers advised OF good demand, but
offerings were not large anywhere. for
holders are feeling better and are wait
ing for additional rise. Exports for
the day were about $1,000 bales and
the weeks total Is al ,39s bales, max
Ing a total for the season of 4,1TO,40l
according to New Orleans figures.
Futures closed 81 to 6S points up,
tone strong.
New Orleans closed 81 to II points
up. tone STEADY. Spots were unchanged,
middling at 27.63c.
In the local market demand con-
tinues good. Inquiry still runs largely
TO cotton having some staple or pull.
hut there is a little demand for short
Of better grades, For the day sales
were 1000 bales, making l4,I00 for the
week, Quotations were unchanged,
middlinE at 2Sc,
Estimated unsold stock Is 1874, 900
bales against 1873, 900 last year and 1885,
900 in 1917.
Linters in stock arc 5000 bales.
against $4,000 last year and $4,000 in
1917.