The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-04-04
COTTON MARKETS
Gables Again Good, But More
Willingness This Side to
Sell Moderately.

"-#- r.
Additional strength was displayed in
the Liverpool market today. cables al
the close being called very steady and
futures being much better than due bat
on this sid there appeared more via
ingness 70 sell and prices were dis
posed to be slightly reacttoDarv. The
undertone is steady enough ana bear
ish IDEAS are not pronounced. vet the
disposition on the part Of many spot
holders to accept current offers seems
70 check any fresh buying in quantity
There continues so much uncertainty
as to the foreign political situation
M peace prospects are so ~nebuluus
that the policy Of making haste slow
ly appeals 10 the average trader. More
over, the technical position OF the
market is less hulish than Il was a
few days ago, many Of the shorts hav-
Ing covered and prices having gotten
near TO a basis where it is not con-
sidered improbable hat some deliveries
might be made on contracts.
The weather is also not so bad, al
though the rains received over night In
the belt were not needed and tended
TO further delay preparatory work
Some fell in Texas, but most OF them
were in the central and eastern belt
Temperatures were nearer normal, but
still not what might be called favorable.
The indications were for clearing, al
though cloudy is promised most OF
Texas for tomorrow. There is no pro-
nounced fear Nof weather al the mo-
ment, although lRteness Is still 10 be
considered and but little progress has
yet been made toward overcoming any
Another private guess on what acre
age is likely to be, its figures being
SA.4 Of last year, a reduction Of 1876
per cent came, but failed to attract
much attention. II was perhaps off
set by one issued after the close yes
terday stating that the reduction would
be about 30 per cent and hat fertili-
Hers would be cut about 80 per cent,
in fact, all estimates now are worth
but little, except that tend to show
what ideas are,
In Liverpool the list Of contracts was
due TO come . to | points TO the bad,
hut The close was % to 20 points net
to the good. withs tone called very
steady, What caused the outburst Of
strength right nj the close was net
definitely determined. but private ca
bles said that Manchester business was
better than 1t had been since the arms
tice was signed. Otacr cables thought
perhaps It might be due to some manip-
uiatiVe tactics. while others still re-
garded II as hopeful as to peace ef-
forts. Spots were marked uT &c points.
good middliug TO 17.24d. with sales
b,000 bales, including $500 American.
Receipts were 10000 bales, including
$4,000. Manchester advised that cloths
and yarng showed a hardening teDden-
cy.
Opening prices were steady and
slightly higher. but there was profit
taking IN a small way and some little
pressure from the professionals. New
July opened at 23.55. and sold down
g 1910 before working back up to
"a. 45. News was scarce and M M
special Importance. except that II failed
TO inspire much Selling. Later the
market kept within a narrow range,
with traders expecting weekly COM
parsons to be hearish.
Movement into sight showed a loss
year, while takings by spinners dropped
off $4,000 bales, making visible show
y small relative increase. There was
not much news from the spot DEPART
ment and demand ran largely to the
low grade staples, which were reported
20 be selling ut sacrifice figures In some
Of the centers.
New contracts closed 30 points up TO
10 down, old 80 up to Is down, with
tone steady,
New Orleans new closed ~ to. 20
points lower; old unchanged to 20 points
lower, with tone steady, Spots were
marked UP rs points. middling to e. 75c,
with sales 1,42o bales,
/, In the local market sales were 3,400
bales, making the weeks total 14,5OO,
low grade staples are about the only
thing selling, according 10 reports, and
prices are as a rule In buyers favor.
Quotations We're unchanged, middllng
az 26.50c.
Estimated stock Of unsold In factors
hands is 242, 600 bales, compared with
l21,000 last year and 1874, 900 IN 1911.