The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-08-11
COTTON Markets
Aarket Reacts When Chance
of Storm From Gulf Seems
LeSS-Tradinq Small.
Monday Afternoon, Aug.


But for the fear ~ the tropical storm
turing the first part OF the days ses-
ION ,hereNyould have been small chance
o. sustaining prices. indicated by the
ase with which they recede4 when It
developed that the disturbaiRre woaid
'robahly not bring any ain Of couse-
iuerce. This menace to the CROP lost It's
fleet when Il was announced that the
It1rm was OF small intensity and seemed
iSeiv 10 stay OUT OF the gulf. and then
[ was that other factors had more
weight. Liquidation became more
Plentiful, and Of the causes there
or seemed 10 he the influence of the
general state 81 unrest and a growing
ceiling that the bull markets are over
or the time being and there viii per-
laps be more encouragement to the
pears for a spell, In fact, in some quar-
ierS there is now a feeling Of depres-
Hen, although such are perhaps not
altogether justified, for the crop Is still
o pass through a large part Of its crit
gai period.
Liverpool failed TO do anything start
ling and closed quiet at net gains Of So
10 So points. . little better than due.
The foreigner evidently was not dis
posed 70 overlook the possibility OF the
storm working into the belt and bring
ing rains that at THIS time would aE-
gravate the boil weevil ard boil worm,
but he also seemed 10 take c~ognizance
Of the political situation over there.
There was nothing much IN the news
from abroad. Spots we've marked up IS
points, middling 20 1850, with sales
L000 bales. including 3,700. American.
Receipts were only 1000 bales.
Al the opening on this side there was
mixture OF strength and weakness, the
Sew Orleans market being stronger at
irst than New York. perhaps reflect
ms more concern over the storm than
n the northern center. However, they
Sere soon adjusted and after a tenn
borary bit OF steudiness prices began
o - down slightly, october in New
fork opened AT 32O5c, and touched
2,20c, shortly afterWard, that being top
or the day. Scattered selling and lack
VI support soon resulted In the option
tipping to 3l.t5c, but some covering was
lone and n recovery to around 81 7sc
olloGed. only to give way again before
tquidaNion ana fresh selling by a few
professionals. Later w:en II was an
lounced that storm chances were much
edaced pressure increased and October
lold down to 81 20c, a drop of 81 q
t@l0 from the morning high, but a
slight improvement followed when
lhorts covered again.
At NFdAlltl map bilbNtu lU6I Hpflle
aims had been received In the lower
lections Of the belt from west TO east,
ehich we're not beneficial. as they made
ne insect pest situation worse. But
Dme advlces are 10 the effect that the
~ 10 faring as a whole better than
Usual in his month. which discourages
buyinG. especially as there " so little
interest In the actual and movement OF
he old crop Is SO restricted.
The mid-month crop condition renortH
p1ll be out In a few days and they will
- awaited with interest, but less than
he usual deterioration Is expected 10 be
lhown, The census department report
on consumption In the United States
Surfing July Is also due soon, and II Is
cared will make a bearish showing. In
7iew OF the fact that more attention
= being paid e statistics y,e -lntorma-
seiEht. the trade having come 10 pay
more notice TO the outgo Of raw mate
'iht than for II ear ov 40.
Futures closed 81 20 :? points off, tone
New orleans closed 49,, ss points
hwer, tone steady, Spots were off so
points. middling 10 Si.5bc. with sales
! 1886 bales.
Liverpool is due to com % to>25
points.
In the local market sales we're 100
baies and quotations were unchanged,
middling at 3l.bOC.