The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-09-19
COTTON Markets
Market Displays Steady Tone
Despite Fear Of Steel Strike
Cables Good.

Friday Afternoon, Sept. 10.
~Ltluencc OF a stronger undeFtone to
We market continues to accumulate and
1ne moderate Qpturn in prices today
Was no doubt due 10 more disposition
70 look at certain bullish factors thar
nave been Tor a time In partial eclipse.
one OF these Is the reduction in Weld
Ideas, while the fairly good ABSORPTION
OF spot offerings for filling current
monlh.s requirements affords some en-
coufaeement 10 those who are bullish. ?
The threatened strike 81 the steel
workers, apparently assured for Mon
DAY, was against values, for there Is no
teilng now FAR this may, reach II it once
gets under good Roadway. But some
now there was an idea that this would
not Pc ana thus the bears failed to get
muchc help out Of the situation. The
lack of pronounced weakness In the
stock market. where reflection should
0e fiFst and most direct, DISCOURAGED
getting bearish on cotton thereon There
was also an absence OF any large effect
m grain n provisions market,
which would also be affected consider
ably II any large walkout OF working
people should come and tie UP business
and industry.
Liverpool cables were better than due,
and there 1s a distinct Improvement in
feeling In that direction. Private cables
r telling Of larger activity and the
PNANANNASa AVudg hnONCu That Tx
mills are having forwarded to them
larger amounts Of the raw material as
they get more business booked. AS they
hold but little cotton at the mills this
viii continue no doubt and thus should
be watched as an indicator OF the ac-
tivity In the mills, Futures closed steady
at net gains OF 80 tos40 points, where
as 10 to Is would have sufficed. Spots
were up IL points, middling to Is. 5Sd,
with sales 5000 bales, OF which 4,6O0
were American. Receipts were 5000
bales, only 800 American. Manchester
advised that cloths were quiet and yarns
steady.
Opening prices in the domestic mar
kets were but little changed from last
nights closing and news was scarce
and without much color. The weather
map showed that conditions in the belt
were favorable, but there continued to
come lots of advices telling of the short
crop and OF eontinued depredations from
the insect pests. December opened at
30.15c, five points to the good. to'"had
30,05e and then worked up to S0.45c,
but a period Of dizziness and little change
followed. There was anxiety about the
strike, but advices from the spot de-
partment were satisfactory and holders
were reported turninf loose slowly and
only at higher basis. Liverpool was
credited with doing some buying on
this side while offerings were scarce.
lH6 pCCeIhpcI pOSlllOH ulppCu baSh W
80 6c and then slowly improved in the
afternoon, selling as high as S0,62c with
out any special news to explain the in
creased demand.
The weekly statistics were slightly
bullish. Movement into sight for the
week was 12S, 900 bales, compared with
267, 600 a. year ago, while splnners took
$50, 000 bales tcompared with 20S 900,
Visible American lost az, zoe bales, wher-
as this week. a year ago 1t Increased
G. 1900. Exports for the day were 10000
bales, making $4,000 for the week, com
pairing with 124,00 same week last year.
One of the encouraging features Of the
news today was a wire from the Caro-
linas saying that domestic spinners were
buying more freely.
Futures closed 8 to rs points lower,
tone barely steady.
New Orleans closed one point up TO
s down, tone steady. Spots were up
rs points, middling at BOISE, and sales
were 1874 bales.
In the local market quotations were
up 80 points. middling to 3O.6Oc and
sales were $50 bales, making $40 LOT
the week.