The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-11-01
SOME CHECK TO
COTTON ADVANCE
Higher Levels and Strike Prospects Encourage Mqui-
Not Good-Spots Steady, But Sales Smaller.

ure. Sill, being a point or so over the
average of the several private guesses.
There were no comparisons possible as
this is the first ever issued Tor Oct.
%, and no attempt was made TO cal
culate indicated weld. As price rae
tor it proved barren and the average
conclusion, even before II came, was
that it was unworthy Of serious atten-
tion and its issuance a foolish response
to some short sighted folks.
The scramble for spots, especially the
better grades and staples, was perhaps
not quite as keen as usual, out the
turnover indicated that nobody VINO nau
prospective needs of such were allowing
any offers to go begging. Prices were
higher and the seller was dlctatlhs
them practically everywhere. Volume OF
sales was smaller, but due to reduced
offerings Holders continued their VIII
ingness to turn loose freely, thus put
ting themselves in shape for seeing that
the less desirable grades, OF when the
amount is large and the proportion I'M
usual, are not subjected Ia undue pres
sure at the hands Of consumers, Inc
fate of the low grades is to ne deter
mined, but never before was the pro-
Queer in better position TO have say
as to what they will cost the spinner
Bull Hopes Realized.
1t was the contention Of some OBJ
servers that when middltng reached ~
cents, which had been about the acme
of expectations in the breasts OF many
OF the bulls in the belt, as well as OUT
side, the time had come for some eau
ton. This was considered by some as
factor in checking the advance, a.
though the probabilities are that other
| things were more potent. The people
who have the kind OF cotton wanted
have all the while shown Willingness 70
turn loose at prevailing quotations, but
what they will do in case there should
come a reactionary market and an ef-
fort to get them to make CONCESSIONS
remains to be seen. Having tasted OF
blood as II were, and recognizing trSt
| there is going to be shortage o. goon
/ cotton, chances favor a stiff assistance,
which will be a powerful ever ever. toward
The fate Of much Of the crop Is still
| in the balance FOR the effects Of the
continued r..lns, October having been
| the wettest in the history Of most OF
the belt still can not be fully deter
! mined There is also no telling yet
| in some sections on yield OF late cot
ton. where the insects gave 1t chance,
some advices saying that II frost holds
off long enough it will be worthy OF
notice.
During the past few weeks picking
| and ginning nave Deen SeIlOuslS th'Nl
rllpted in a large part of the belt and
bad roads have also kept movement
back some, which perhaps has been a
slight factor in the scarcity OF offer-
ings. The next report Is sure to DC
bullish, but this has all been taken into
account, in all probability, as well as
the sprouting of bolls, which continues
in many sections
Movement to the ports has been iarg-
er, indicating increased exports as soon
as labor conditions improve so vessels
may be loaded, which, resulted IN ne
movement into sight showing up So,OOC
bales ahead of last year. The amount
of shipboard is large, but clearances
for the week were small
Spinners took of American cotton
2S7, 900 bales, as against $4,000 year
ago, which made visible supply SHOW
considerable relative gain. or Amer,
can there was an increase OF 20h0OI
bales, compared with an increase o.
lao, 900 last year, and the total Is nov
3 4O2, 900, against 2704 900,
In the local market sales for the week
were 1900 bales. leaving the unsolc
stock in the hands Of factors $4,000, OF
the same as last week. The. bette
grades have been culled out and II VII
not be long until some line may be hat
on the lower, for II is not thought there
is much left of the former.