The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-08-23
ROUND THE TICKER
Cotton.

terests that had started the advance
Two days before and as the shorts had
pretty well covered prices slipped of
easily, Bullish sentiment has been con-
slderahiy modified, and even the re-
ports and fears OF insect damage do
produce much effect. The foreign
exchange situation is too serious to per-
INIT OF export business being possible
TOT some time and mill demand at a
low ebb owing to conditions in the
goods markets, General speculative
sentiment Is very cautious in all mar
kets, especially with governmental et-
forts TO reduce living costs. Labor con-
tinnes troublesome with no relief in
sight from constant demands for in
reased wages. Under such conditions,
we cannot take a cheerful view for
values and look for lower prices though
occasional spurts will occur when the
market becomes oVersold.
New Orleans-Shorts became some
what encouraged by the market Yield
ihg TO selling pressure, increased their
ines yesterday, and will afford sup
porting feature, should anything OF
bulltsh condition develop.
New York-For the third week the
weekend figures are bulliSh and that
inspired a little buying this morning.
AS the crop is very late this feature
will continue for another five or six
weeks, but the trade will get educated
to 1t.
Cotton opinions, Clement Curtis;
Cotton market Is still Influenced hy
outside conditions and fluctuations for
the present are likely to be narrow. A"
Pynchion; In view Of the good trade
XII IL Logan a. Bryan; Market ex-
hlblts tlrmer tendencies and export
movements show signs of increasing
even though moderate" j. e. Bennett:
advantage Of sharp hulges to
make sales Of December cotton. The
trade may soon be talking 12, 900, 900 and
Zoe cotton Harris Winthrop, "Senti-
ment Is mixed but crop is late and ad-
vices poor and any change for the bet
a sharp recovery" Lowitz; Market
quiet awaiting developments, Think il
Is a purchase King Farnum: we
see no reason for speculative pur-
chases. Carpenter 4 Co; "Bearisn
sentiment continues undated, especial
~ among Western operators who have
again put out short lines" S. M. Weld
& Co; For the time being we ex-
pect higher prices Hubbard Bros, 4.
The majority Of the trade is Of opinion
that the reaction has seen its high point
n that We will have lower prices next
week, f. w. Wagner; while ad-
yanees can be sensed on upturn on con-
tllctlng with the current costs move
and a labor uncase %irritant." Bartlett
Frazier: Small lot OF Texas corn
worked at lower prices gave the sellers
another excuse yesterday" Lamson:
Competition with the Southwestern
corn h ~carry-over from last years
crop may develop into a very suhstan-
tial bear factor" ], L. Bennett; Favor
selling on hulges and buying on breaks
until a decided trend can be observed
in corr market"
Gram.
Observation-Disclosures OF a million
bushels is on in oats, Buying power
is lacking and locals are arrayed on
the selling side. Rallies in corn are
feeble and largely of short covering
KIND. The outstanding feature Is the
lack OF buying power. Sentiment in
corn has become generally bearish
again and the ring more or less on that
SIDE. Sterling exchange seems to have
lost Its effect as a market factor aside
from little buying early has been
ignored by the trade, although 1t Is up
around IL points from the inside figure
Of a few days ago. The offerings OF
Texas corr are giving a depressing eff
feet on the market and prices are
around the inside figures Of the day.
Chicago-Morning grain letter; Grain
iilh hVNH biltuiu htNtluD MI early ulD,
after which a rally against the week
end will be due, The public shows a
proper regard for the move to investi-
gate food stocks and prices, Export
oats sales continue very poor and cash
corn owners are afraid Texas will press
her record corn on the north, Texas
has a record crop of around 1870, 900, 900
corn, which is about ITO, 900, 600 above
her small crops and 0 1000, 900 above any
average. Hone of large oats eVnnrts
before January or February seems to
have disappeared. Oats bulls have beer
quleted by the investigation noise,
House has passed the bill which allows
two years In jail and a S. 900 fine for
profiteer in food, clothes and fertilizers,
News from every source denotes linn
tied grain bulges and the hog prices
should also develop further respect for
the new conditions. The discovery OF
lareg food amount in the East has
caused much comment,
Market needs some decisive influence
to move" Ware & Leland THE ex-
treme premium of cash corn over
futures prevents any further drastic de
clines unless receipts materially in
crease" Simons Day: 1.-THE general
position seems to have given way to
one Of the more friendly to the buying
side Of corn on the Breaks" w. G..
Press: Until there is some new de-
change In corn prices" Harris Win
throp: Heavy weight oats is in de-
mand, but the light weight of oats are
refused" Hulburd Warren: Favor
short side on good hulges and would
accept fair nrofits OF breaks whenever
they appear"
Stocka