The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-04-16
COTTON MARKETS
Generally Steady, But
Bulges Attract Selling.
Weather Not Good.
Wednesday afternoon. AnrI 1s

eAueSAal AFTERNOON, ApTil lb.
s~tsadiuess was the ruling tone In the
cotton market today, although on the
bulges considerable pressure was forth
coming, indicating willingness 10 &C
oept profits or 20 sell the actual. Liver
pool was disappointing. but 1t did not
exert lasting influence on this side,
where sentiment was governed by sew
eral things, The peace news was con-
sidered favorable, while advices from
the goods markets continued excellent.
The weather in the belt was far from
ideal, cold prevailing over the western
half, with prospect of extending east
ward over night, while rains we're gem
eral over the central and eastern belt.
1.-The weekly weather summary was
about a sSRnd-off, having enough good
in IL to offset the bad, and 1t really
had little effect ON values apparently.
Liverpool was due to come 9 down 10
10 up, but in the early part Of the ses-
sion did not measure up to eXpecta-
lions, There was little in the news
to tell what sentiment was among the
foreign traders, but there seemed a
disposition TO make haste slowly, in
spite of the progress at Paris. Finals
were steady n at some recovery, the
list being from l to . points net to
the good. Spots were marked up 81
points, good middling to 1851, with
sales 1900 bales, Including 5000 Ameri-
can. Receipts were L., 600 bales, tn
Guiding 300 American.
The opening on this side was some
what irregular, nears being slightly off
and the distant some higher compared
with last nights closing. There was
little In the early news to influence
sentiment and the reactionary feeling
seemer to prevail, presumably because
1t was felt that after the recent rise
some setback vas due. But trading
was small and 1T did not take much
selling to run values off. New July
opened at 25,45c. and in a short while
1t had sold as low as 70 .lSc, but sup
port increased and a moderate recov-
cry followed, only to attract more sell
ing. october in the meantime had
opened at 2S.6Sc, touched as high as
%, Tic, dropped toy 23,46C and then be-
came steady and Inactive,
The weekly weather summary came
and failed to attract support because
of its hullish features. but the reaction
thereon lasted only "a little while, after
which buying Increased and the list
went to the highest levels of the SEES
sion. July touched rs. 66c and October
2S.9Sc, but selling increased at the adj
vance, some of it credited to the South
against the actual,
There was no particularly new fea-
ture in the finished goods situation,
but fairly good demaIid for spots In the
belt "a looked at with favor by those
who were bullish. Exports are still
disappointing, but thbre is broadening
demand for the actual and those who
are holding are very independent and
seem obsessed with the idea that with
the coming of peace will come stimu-
lated demand for raw material. The
start for the new crop Is also not all
that bears could wish for, while
strength in both stock and grain mar
kets is not hurting the bull side OF
cotton.
New contracts closed II points off to
3 up; old II points Off to 5 up; tone
steady.
New Orleans new closed 10 TO II
points up; old 2 points down to 80 up;
tone firm. Spots were up SS points;
middling to 27,lac. and sales were 2,47o
bales. "
Liverpool is due to come unchanged
TO 4 points up,
Inquiry in the local market continues
good and there is q turnover almost as
large as offerings from holders will al
low, For today sales were $500 bales
and quotations were up rs points; mid
ding to rs 75o.