The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-08-15
COTTON Markets
Dips Early, But Shorts
Cover FreeIy-Affair Has
Little Positive Trend.
Frlday Afternoon. Aug.

Cotton values evidently have reached
q level where opinion is divided and
traders must be content to see fluctua-
lions comparatively narrow. There is
Just about enough that is good to Off
set that of contrary character as price
influences, which with the disposition
IN all the speculative markets to slow
down and await developments dis
courages much effort either up or down.
The agitation against living costs goes
ahead merrily, but II remains to be
seen to what extent 1t will affect raw
cotton values. However, some observ-
ers think that pending SOM more light
as to the effect on general business the
wise policy Is to play safe and do some
watchful waiting.
The weather in the belt for the past
"a hours was not so bad. although some
rains tell again In the eastern belt, and
there were non in the west, where
as a rule they would have been ac-
ceptable. Temperatures were rather
high in Texas and Oklahoma, but ef-
forts on the part OF some to make
bulltsh capital out Of such apparently
failed. One reason, perhaps, is that
the western belt Is in better shape than
in years for going through a dry spell,
having such an abundance of subsoil
moisture. 1t is also pointed u that
these dry spells serve to hold the weevil
otAN bOl WI Iio III NlNNNhs Inv AOlV
cast of some more showers for the
eastern belt did not look SO good, but
an offset was afforded in the promise
relief. There was also promise of some
lower temperatures.
Liverpool did not show any startling
change, although was worse than due
Private cables said that the big people
were not doing much. Finals were bet
ter than the lows for the day, being
called steady at a net loss of "a to Al
points. Spots were marked down Z;
points, middling to 18.40d, with sales
5000 bales, including 1900 American
Manchester advised that cloths were
dull and yarns dull and easier.
First prices in the domestic markets
were but little changed from the pre-.
vious close and there was a Sigh
bulge during the first few minutes o.
trading. October started at 80. 45c, solo
up to S0.60c and the quickly dipped tC
80, Csc. The lower level and the fac
that the short interest was thought L
be getting unwieldy brought in good
support, including some trade buying
and in a short while the option sold al
high as 81 cents.
Then came some liquidation, encour
aged by easiness in exchange and somt
fresh pressure from the bear Grove
again. There vas little doing in tn,
actual, although clearances for the da.
we're fairly liberal.
October sold down to 3O.5Oc again
but offering dried up and there wa
little doing at the lower level and
slight recovery followed.
From the spot department came it'll
that was new and sales were yer.
small. The weekly statistics were nc
expected to be a market factor, blu
slightly bullish comparisons were antici
pated.
Futures closed 80 to 81 points up, ton
very steady.
New Orleans closed A to As points ur
ton steady. Spots were unchanged
middling 30,SSc, and sales were 81
bales.
In the local market sales were 1850
bales, making 1850 for the week. Quo
tations were reduced 100 points, mid
ding to 33c. Estimated stock unsol
in hands of factors is 81, 900 bales, CON
pared with 1900 last year and 10000
1917.
Linters in stocq are $4,000 bales com
pared with 100000 last year.