The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-10-25
D IN DEMAND
AND WORK HIGHER
Little Indication of Rush Being Over-Price Continues
Se~condary-Sales Less Because Supply Reduced,
Weather Unfavorable in Most of Belt.

await the official figures of Saturday
morning. However, more attention Is
being given to what ginning Tor the
present period will be, for bad weather
does not affect that part of the process
of getting the crop ready as II does
picking. II is easy for ginning to be
done in bad weather, but in many sec
lions little picking has been done Tor
more than a week,
Industrial Situation.
The industrial situation has been
given some attention, but proved OF
small effect apparently in the midst OF
the Keen desire to get the kline OF cotton
wanted. Across the water affairs seem
to be getting adjusted. but In the
United States unrest is as widespread
as ever and there is no telling what
II will lead to. Manufacturers are
having no trouble meeting demand and
prices Of their product are high, but
nobody can tell what they Will DO
about taking the low grade part OF the
crop and carry-over, The large re-
turns producers have enjoyed from sell
ing the first part Of their crop, how
ever, means assurance Of a very moe
| pendent attitude as to ~disposing OF the
other. They will be dictators FOR an
indefenite time.
Liverpool reported large sales all the
week, but the available supply over
there too Is getting smaller. The re
sponse Of that market to those on TINS
side was more than expected each day,
except toward the close OF the period,
while advices from their spinners were
very favorable indeed. High prices Tor
silver and the passing of their indus
trial troubles, at least in a large meas
ure, seem to have inspired hope OF sus-
tanned activity for a long time.
The matter of providing credits Tor
the continent has been talked of much
but 20 far definite steps are lacking
or have not been announced, The Of
fering Of a big lot Of British certificates
in this country by a large banking firm
indicated some effort to stabilize ster-
| ling rates, but they weakened some IN
/ spite Of il, perhaps rejecting prepara-
lions for larger exports.
Exports continue small. hut they are
expected to increase sharply soon, al
though hindered by labor troubles at
the domestic ports,
But the delay in exports and the
bearishness in the visible supply Stats
tics, they having shown considerable rel
alive gain for the past week, have been
given scant consideration In the eager
ness to get the actual. The movement
into sight, according to Kester, was
405, 93l, compared with SSl, 90S; for the
season to date there Is a shortage Of
nearly 500, 900 bales in the movement
to sight. Spinners took of American
242. 900 bales, compared with 26S, 900
leaving the excess to date since Aug
/ only ITO, 900 bales Visible American
increased 1877, 900 bales to 1874, 900, while
the amount one year ago was 2,574,00O
Other kinds than American lost for thu
week 81, 900 bales, indicating the dis
position Of the %spinners to use more o.
such where it Is possible to get then
in preference to paying what It cost
to get the American, II is believed
hat a large part of this Is the Egyp'
tian, which Is about the only competi
tor of the long staple kind.
In the local market sales during I'M
week were reported AT 20, 500 bales
while net receipts for the period wer'
but 1889. The unsold stock left II
the hands of the factors was cut T.
IS, 900, comparing with $4,000 to thi
date last year, 1t is evident that a 10
of cotton that has been held for {
long time Is being sold, for in no di
rection has there been any tendenc,
to refuse current prices. Here and II
this territory prices have ranged iron
around the quotations for middlin
short varieties up to near 70 cents
pound, It having been claimed tina
some lots have changed hands at tn
above figure. To say the least, som
Ia being held for such, while the chance
are that some folks will want eve
more than that. since they see 1t is S
easy to force prices up.