The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-05-23

most Of Il perhaps was done yesterday
and not reported until today. coustt-
tuted bulwark against bearishness.
There seems no doubt that consumers
are going freely after their raw ma
teriai supplies and that exports and
movement 70 the mills viii soon assume
large proportions. Some Of the large
Liverpool, APIS in New orleans, S,5l2
in Norfolk. 9.O42 in Augusta, while a
private report said that n house
bought 1000 in Galveston last night
Such figures reflect some Of the Tea.
sons for the activity Of the big spot
people on the bun side, for they have
Of COURSE known Of this demand, y
was the most natural thing in the world
for them to buy contracts. Probably
one source Of contracts today was the
releasement OF hedges held by these
same spot people.
The weather map this morning was
some better, although II shove con-
tinued low temperatures In many sec
lions There were few showers during
the past "a hours, but the map looked
like more were coming, and later the
official forecast promised unsettled for
the western belt. Until there Is a
| clearing up Of the low barometer areas
the trade win naturally fear the
weather, and this is one Of the factors
discouraging selling.
A private report on condition, its
figures being 77,s, with a reduction OF
10 per cent in acreage, was, received,
and by some 1t was credited with en-
Couraging some of the early reaction.
II was better than many looked for,
although II will compare with 1913 for
the first report a year ago. Sunday
will be the last day to be included In
the coming report.
Liverpool did not do any stunt to-
day and private advices said that the
reaction was in response TO a similar
trend over here. At the finish tone was
called irregular and the list from ! to
Is points to the good, with the nears
stronger than others, probably because
OF the scramble for the actual, which
is in such limited supply over there.
Spots were marked up SO points. mid
ding to 10 3Sd, with sales 10000 bales,
including $500 American. Nothing was
received. Manchester officially reported
cloths dearer and In good demand, while
yarns were strong.
First prices IN this side were off
moderately, for there was a general ex-
pectation that prices would react after
the big rise. The early dip attracted
buyers. however, and n quick rise fol-
lowed, July going to 30, l5c after having
been IA low as 70. SIC, while October
made a new high, going to 29,l6c after
starting at rs. soc. There seemed con-
hlutTdplc July LOT SAFE anu DTpllIS WtIt
freely taken In the rest OF the list, but
fluctuations were irregular during the
remaining part OF the session. July
dropped az low as 20, 65c and October to
rs soc, but In the midafternoon prices
stood near last nights finals,
The large spot sales and prospect of
weekly statistics coming fairly bullish
helped give tone to the affair and dis
Couraged selling.
Futures closed l to Is points higher,
tone steady.
New Orleans closed 10 points off to
is up. tone steady. Spots were called
steady and unchanged, although some
private reports early in the day said
prices were higher to sell.
In the local market inability to make
deliveries, many factors being Consid-
erably behind because OF congestion at
the terminals, Is keeping offerings from
being larger. Demand takes everything
offered and at fun prices or better,
Sales reported for the day we're 1000
bales, making 1880 for the week Quo
tations were unchanged, mlddling Mt
SOC.
Estimated stock OF unsold Is 1879, 900
bales, compared with 13l 900 last year
and 96, 1000 IN 1917, Linters in stock are
$1,000 bales, compared with 1890 0 last
year and 81 200 in 1917,