The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-03-27
COTTON MARKETS
Better Feeling as to Foreign
Situation Causes Upturn.
Spots Very Quiet.
Thursday afternoon. March q


Tho foreign political atmosphere APP
parenty was not filled with so many
h~obgobiins rs il vas yesterday. which
helped push cotton prices in the specu-
lative market back upward. At the
topmost levels they were nearly 81 a
bale over yesterC avs finals, but there
was not much snap about support and
some profits were being taken on the
bulge.
The market is largely a professional
affair now and but little rhyme or rea-
son attaches to some OF the changes.
The trade is largely concerned over
the signing OF a so that business
may proceed with more certainty, or at
least that is The wish IND hope. which
explains why so much Importance is
attached TO anything that threatens to
delay H. The disruption In Hungary
naturally caused some fear Of It ex-
tending and thus occasion was given
for more or less alarm But over night
there came a more hopeful view Of the
situation n this was reflected I'm the
market, for Liverpool this morning was
much better tina due, although later
in the day consols were reported as
down even further. During the day
some little selling was done on the
report hat Italy was invading Hun
gary, but this was regarded as not
very serious or worthy Of extensive
ttANt NV aAANAANAbtls
The weather map this morning
showed cool temperatures in the west
and central belt, with practically no
rain, but to the east there we're rains,
from light to heavy, which naturally
further delayed farm work. The fore
cast, however, was for favorable wealth
err. The first private report on acre
age nothing more or less than a guess,
came over night. Its figures being a
reduction Of 10 per cent In acres, 20
per cent decrease In fertilizers and the
start 30 days late, The guess failed
to have much effect, but merely sug-
gested that she open season for esti-
mates Is rear.
Liverpool was due to come Q to 8
points to the bad, but came better than
that and improved as the session ad-
vanced. Finals were steady and 20 to
% points TO the good. spot sales were
larger than usual, 1000 bales changing
hands, at a decline OF II points, good
middling to 16, t6d. Receipts were 2,100
bales, all American. Private advices
said there was better inquiry for the
actual, but that offerings were light.
First prices on this side were steady
and higher in response to good cables
and the improved tenor Of advices as
to the political situation. New July
started 40 points to the good. at q ,90c,
dipped five points, and then went up
II before reaCtinR slightly, Laten in
the day the option sold as high as
%. csc, which was rs points over prevl-
Gus close. Some profits were accepted
on the bulge. Liverpool was credited
with doing a lot of the buying, while
shorts also covered some. The activity
in the old contracts Is gradually d.
mInishing and fluctuations are getting
moro and more radical.
In the spot department there con-
tinued little activity and in New Or
leans quotations were further reduced,
25 points being Topped off, middllng to
&c. Csc, with sales sos bales. The spin
ners are buying %sparingly,
During the final half hour an unex-
pected wave Of buying get In and found
offerings scarce. resulting In the high
est prices OF the day, the advance ex-
tending to about IS a bale over the
previous close.
In New York new contracts closed 80
TO 115 points up. the old 30 to l0b up,
with tone steady.
New Orleans new closed rs to %
points up. and the old 70 to 100 points
up, tone very steady.
Liverpool should come 81 to 20 points
higher.
In the local market sales reported
were 1000 bales and quotations un-
changed, middling at 26.75c.