The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-05-19
COTTON MARKETS
Strong Gables and Active Bull
Support Helped by Further
Rains In Belt.
Monday Afternoon. Nav 10

Monday Afternoons May ~
Strong cables came today and there
was ready response on this side, which
resulted IN cotton values making fur
Their ascension The weather was prob
ably the guiding influence, as more
rains fell over Sunday, and today the
~tndications were for them 10 extend
MnA probably include the entire central
I'D eastern belt They were not large
the western belt yesterday, yet they
me when the crop situation required
M8her temperatures N clear skies.
The spell took the trade to some ex-
tent by surprise, for indications Sat
trday were favorable and the govern
rnent's long-distance forecast was for
= fair spell The influences in the up
turn were similar 20 those prevailing
for some time and spot people were
c~onspicuous on the buying side, al
though liberal acceptance Of profits was
anduiged In during the early session.
Liverpool was due to come % TO rs
points to the good, but did much bet
tar than that. Private cables said il
was due to the weather news from this
side, TO the continued bullish attitude
OF the big people over here and to
buying by the continent n trade In
Jerests over there. At the finish prices
OF contracts were IS to 81 points ster-
ling higher and tone called firm, an
uAEuhA GAlnks EppAE WtEt ulaI hOu up
~ points, middlinE to lS.2sd, with sales
10000 bales, including 5000 American,
Receipts for the day were %, 900 bales,
including s,ioo American.
First prices on this side were firm
and higher, with fall months up more
than summer perhaps because tho
weather is not so direct an influence
or the latter. July was up % points
to $500, while October was up 10
points 10 27.S5c, On the call July sold
up 10 $4,000 and October to 27.46c. The
p~rofit-taking was large, yet only a mod
crate reaction followed, N later July
soh up to 2sc. There was q period OF
backing and filling, but the undertone
steady, and II wa only in the middle
part Of the session that the reaction
lists made Roadway, helped by some
rather ~unfavorRble news from Europe
TO the effect that tho Germans were
apparently more willing TO have their
terms, The dip carried July to rs. Soc
and October 10 1850, after which the
support improved and recovery of about
half the break followed.
The Weather was discoursging TO the
bears, as were continued optimistic re-
ports regarding trade. The development
OF soTpe labor trouble at New Bedford,
Mass. involving something like 4 5000
workers, was given little consideration,
presumably because the differences Will
De adjusted rather than nave the mills
stop for long.
N the spot department. business con-
tinued good, for the showing at Liver
peol naturally stimulated buying for
that direction by the exporters. Hold e
ers are still very in%depedent and the
continued strength in prices discourages
them from offering too freely, In New
Orleans sales were 3,24S bales at 81
points rise in quotations, middling Ia
@.2ko. other centers raised quotations
and reported sales as large rs sellers
would turn loose,
Futures closed 81 30 IL points higher.
tone steady.
New Orleans closed 70 TO 10 points
UP, tone steady.
Liverpool should DO 8 TO 10 points
lower.
In the local market sales reported
were $3.50 bales and quotations were
VI IS points, middllng to 2S.75c.