The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-04-01
COTTON MARKETS
Has Steady Tone, But
Changes Small-W in
Belt Clear and Cold.


Steddiness 81 tone prevailed in the
cotton market today, but net change
was small. Tor influences were some
what conflicting. Tho belt was cnvol-
oped Zoe cold weather, temperatures tn
the northern section being close 70
freezing, but skies we're generally clear
n II was not thought that the cold
was harmful, as no seed have been put
in the ground except IN the earlier sec
lions Ot course, u the cold spreads
and continues IL may check germina-
ton, But as a whole the weather Was
favorable for farm work. a. there were
no rains and no sign Of any.
The foreign political situation was still
somewhat beClouded, but there was 4
feeling Of optimism and during the day
an uncontirmed report was printed to
the effect that the e~mbargoes were to
he lifted right away for all the enemy
countries except Hungary. This Was
Interpreted 10 mean, II Il should prove
true, that the entente powers have
about reached an agreement and that
peace terms viii very soon be given TO
the enemy and that the differences have
been smoothed out The trade, howev-
cr, was a bit dubious as to this and IT
did not encourage moro than a moder-
ate upturn,
on the other hand. there was a re-
port from Manchester that all English
mills using American cotton would. be-
ginning ADIll ~, close fnllEtiN lbI a
fortnight This was thought TO mean
they would take advantage Of the pres
ent Inactive spell for making the usual
Easter repairs, and so the market did
not pay much attention to II, The Of
fetal cable from Manchester today said
that there was more doing in cloths n
yarns were steadier, rejecting better
feeling there. Another wire had 1t that
a leading labor man from Great Brit
ain had told the peace conference peo-
pie In Paris hat tn his opinion English
labor troubles were in course OF Hd-
justmont. Thus the trade had news
which was conflicting, yet none Of II
worthy Of much action in the market
Liverpool came below expectations,
but by The close had improved some,
finishing steady at a net gain OF ~ tU
Sc points. Spots were marked up 5
points. good middlinE to IS SD, with
sales 2,OO0 bales, including 1900 Amert-
can. Receipts for the day were 1900
bales, including 10, 500 American.
First prices on this side were up "A
little. perhaps helped by better feeling
as 10 peace prospects and the old wave
In the belt, offerings were scattering
and certain spot interests we're buy
ing The demand for nearby positions
tended to stimulate confidence In the
entire list. New July opened at II
points ny, at e2.S0c, touched 8 points
higher and then dipped to s2.sbc before
starting back upward. II reached 2S,O5c
before profits were taken freely enough
to bring d setback This did not eN-
tend far, only going to q little undo the
opening, after which traders seemed
cnutent 10 do very little and walt for
developments. Trading In old contracts
wal smaller than ever.
In the spot department but little hap
pened and business continues light, EN-f
ports are light and The domestic spin
ners are doing very little, THere Is
nothing suggesting that holders are dis
posed TO make concessions.
New contracts closed % points higher
To 5 points lower, old 81 to 5 points
higher, with tone barely steady,
New Orleans new closed TO IL points
higher. old unchanged to 2 points lower,
tone steady spots were unchanged,
middling az % s5c and sales l,370 bales.
Liverpool should come unchanged to
: points lower. \.
In the local market sales reported
were ease haleA, with quotations re-
duced % points. middling to e. 0