The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-04-19
SPOT DEMAND
MUCH BETTER
Progress of Peace Efforts Stimulates OPP
timism and Induces Buying of Raw Material.
Trade Reports Also Im~prove-Weather Not Ideal.

American ~spinners did not seem as
eigners, although they awakened a lit
tie from their lethargy and bought
moderately. The census report on
March consumption showed that Amer
lean mills used 4S3, 900 bales against
OIL 900 for the corresponding mont In
1918, but stocks in the hands Of the
mills are smaller and have been sharp.
ly reduced during the past month. The
improved state of business In this eoun-
try, advlces telling Of increased run
ming time and output. has stimulated
hope of better demand soon, as cur
rent opinion is that the turn has come
and expansion Is likely to be continued.
A feature OF the better demand that
has been especially pleasing to some
sections is that the lower grades have
some relief after a long and tiresome
wait.
Weather Was Mixed.
Conditions affecting the new crop
have not been ideal, although there
have been some features to encourage
the bears. The weekly weather SUM
mary was about a dog-fall. although
the start probably continues about W
weeks late. Acreage ideas have under-
gone no appreclable change and there
is plenty Of reason still for expecting
success for the propaganda for sharp
reduction. The absence Of any sign Of
cost OF production being lessened has
served to restrain possible altering Of
plans as n result Of higher prices.
But for the rains during the week
and the cold spell there would probably
have been much planting done. The
former extended over a considerable
part OF the belt and were followed by
low temperatures, light frosts visiting
many sections. The eastern part Of the
belt apparently has Jared better than
the central and western, but the start
is not sufficient to simulate much
b~earishness,
The course Of prices was upward
until the middle Of the period, although
considerable realizing was lone and the
South was credited with turning loose
willingly on the bulges. There was
nothing spectacular about the rise, but
in some quarters the idea prevailed that
well and It was risky to expect bulls to
have their wi way this early. BY
Wednesday new July had reached 5 1850
and October 1890 In New York, the
advance from the low OF Saturday law
ing been from 24,27o and 22.4Sc re-
spectively, so the reactionlsts had an
dipped to. 25.1Sc and October went back
TO 23,46c, but the stability of the spot
demand and more inspiring new re-
garding the situation in Paris, together
with weather that was none too good,
started a fresh wave Of covering and
more support from the bulls, BY the
time the markets closed Thursday,
which was the last dag before the
Eastern holidays, July had touched as
high as rs. 90c and October "a. $50. That
represented a rise for the week from
the lowest OF 1888 and $50 points, the fall
months gaining more than the nears,
Finals were at practically the top for
the abbreviated week.
Spot sales were fairly large in the
belt as a whole, but In certain mar
kets they were LIBERAL In the local
market the turnover was fully up to
the volume Of the previous week, Mid
ding uplands at the close on Thurs
day at the leading centers ranged from
%. 50c to %. 26c, which was an ad-
vance or 30 to 1870 points yer the pre-
viohs weekend.
Because OF the holidays the usual
statistics were not available. but ex-
ports were moderate and the assump-
ton was that comparisons would still
be moderately bearish. However, there
is keen demand for freight room for
early shipping and 1t is expected that
exports will show steady expansion,
although rates are firm and there Is
but little room available.