The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-07-29
COTTON MARKETS
Market Is ReaCtiOnary, En-
COuraged by More Favor
able Weather.

Re~actionary feeling prevailed in COT
ton today ard prices droppeo around
s. a bale up TO q short while oeiore
the closc. There was some good news
as 10 labor troubles, Liverpool advising
that the dock korkers' strike had been
settled, while on this side the marine
strike was said to be entirely at an
md, while a crop condition report came
showing percentage of SIS. a loss OF Ii
for the month. But the weather IN the
belt as a whole was more favorable,
the sections that have been getting
the rains having relief therefrom
promise OF no more for the time Delhg
AS New York paper had a report show
ing the Carolinas TO be faring better
than some have expected, NOT
tsglng into account some Of the effect
~ the recent rains and showing that
Georgia is In a bad way, With sentt-
ment as 1t was the good features re-
ceived attention.
pectations and closed easy at a net loss
on Al TO 81 points. There was little
Z information as 10 what the chief in
e~sfluence was, but apparently II was que
ITO about the same things applying on
Nkhis side. The need Of fresh hullish IN
aspiration seemed TO prevail across the
glwater as on this side, while failure
sAf the exchange situation TO improve
1shlso no doubt helped to some extern.
] epots were marked off a point, middl-
ing to . l.2ed, with sales 4,OO0 bales,
Including $500 American, Receipts Tor
uhe day we're $4,000, including l1,5O0
MtmericAn. Manchester reported that
ssss.oths were steady and yarns quiet,
Indicating that there is some slowing
own in the demand for goods 40 aver
bl1.ere, perhaps reflecting some effect o.
height to which prices have ascend
angrrst prices on this side were lower,
ohstoher In New York being down 20
hahnts to 34.4S, There was better wealth
put indications and an absence OF buy
Fl disposition, which was accompanied
w some liquidation from the belt, How
Ealkr, the dip attracted a few covering
Aers and the option worked up sllght-
nv during the first few minutes, selling
~. s4.47 before turning downward. The
lieaaped then extended to 1920, after
8Afch a period OF comparative steaul-
sr5ass prevailed, but without any indica-
mon Of bullish activity. Later the op-
iron dipped TO 34.02 and support was
VI The watkins report OF 6s.s was
Thought to be builish, but the trade was
Nor the moment giving Its attention TO
.the reports telling Of the crop improy-
ling. Expectation OF a oearish weekly
tomorrow also figured to some eN-
tent.
There was little new from the spot
department and exports continue almost
nothing. hut predictions are still being
made that clearances viii soon be
larger. One report had II that the
Germans had perfected arrangements
for a loan of 800, 600, 900 In this country,
n large part Of which will be spent for
cotton, but this did not seem to inspire
much fresh confidence. Spots as q
rule we're quoted lower in the belt and
business almost nil. Pending the com
ing Of the bureau report Friday and
the weather, there seems little hope OF
renewed activity in spots for a time,
During late trading prices went down
further, October to 3S.75c right at the
close.
Futures closed los to 81 points lower,
tone easy.
New Orleans closed " to rs points
off, tone easy. Spots we're reduced 20
points. middiing 10 3S,75c, with sales
$50 bales.
Liverpool is due to come 81 to 20
lower.
In the local market sales were 1850
bales and quotations were unchanged,
middling at 34.b0c.