The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-04-03
COTTON MARKETS


Thursday afternoon, April 8,
Whether or not II will prove a flash
in the pan or the beginning Of a steady
demand. there was considerable i'm
proYement today in the amount OF spot
cotton sold Liverpool alone sold 10000
bales the biggest business Tor n day
IN more h two years, while there
was fairly good turnover in some sec
tons Of the cotton belt, one wire stating
that New England mills were making
inquiries after their prolonged spell u
Inactivity, II was also announced that
the largest group Of mills at Fan River
would on mex Monday start running
six days . week, which also helped SEN
.timent
The market was not an active one.
fyet il displayed more strength than any
recent one, The weather map was not
altogether favorable, and more was
heard Of unfavorable conditions than
usual perhaps because such Is usually
the case when the trend Of prices
starts upward and that seems the pop
ular side with certain elements In the
trade.
Temperatures we're stIIl abnsrmally
Tow in the Eastern belt. but in the
West they were getting back toward
normal Texas and Oklahoma had con-
siderable rain, which perhaps delayed
work somewhat, but were not consid-
cred worthy OF much bullish activity,
ny cufHt AllH lAAlH utAhN was bllHtt
by the increased supply of moisture
against future requirements, especially
the signs we're for fair weather and no
further interruption TO work. The trade,
however, Is giving more attention to
the crops late start and there seems
70 be confidence in the acreage reduc-
ton plans.
In Liverpool the list was due to come
2 TO 10 points up, but toward the close
there was further gain and finals were
steady at net advance of IL to %
points. The large sales were credited
with inducing the late wave OF buying,
spots were marked off 2 points, good
5middling TO l6,SSd, with sales 10000, in
scludipK $500 American, Receipts for
the day were 5000 bales, including D..
500 American.
on this side opening was steady In
response to the good cables, reports OF
more favorable tenor regarding peace
prospects, and the weather advices
from the belt. There was little offer
ing and Liverpool was buying on this
side. New July opened at 20. 40c, a
rise overnight Of rs points, but after
touching s points higher profits were
accepted and a dip to $500 followed.
later on there was a bulge to 23.55e,
helped by reported advance In sterling
exchange and advices from the spot
department. Profits were again aC-
scepted and a slight dip followed, after
which changes were small and senti-
tment fairly wen divided.
Exports for the day proved fairly
heavy, .S7,ll6 bales being sent out,
making the total SO far this week about
et9b, 900. However, 1t Ia feared the
weekly statistics tomorrow viii favor
tho bears, which encouraged some OF
the realizing In the bulges. Private ad-
vices during the day said that bust
mess in New Orleans was being done
at higher thar quotations, but the Of
fetal report showed no change In tho
latter, while sales were AIT bales.
There continues strength in the nearby
position, which reflects the steadlness
in snots and the feeling OF confidence
IN present values being maintained,
New contracts closed 10 to so points
up, old closed 1875 Off to 80 up, with
tone very steady,
New Orleans new closed Is to 20
points higher, With the old up from 10
to Sb points, tone steady.
Liverpool tomorrow should come . to
] point lower.
In the local market there continues
fairly good inquiry and the low grades
are still coming into favor, compared
70 the better ones for they have ad-
mitted spinning value and are more at
uactive than the others ut the big diff
~terences, according TO many good
judges, For the day sales were 3.O5O
E A NV L E-F E