The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-06-19
COTTON MARKETS
Gables Good and Offerings
Limited-Sharp Rise on
Better Peace Outlook.
Thursday Afternoon, June 10.

When cables from Liverpool came
godo this morning it encouraged notion
that in that direction there was little
or no concern regarding labor troubles
in the Manchester district, which was
confirmatory of private opinions yes
terday that differences would be ad-
lusted without a strike. This naturally
stimulated some optimism regarding
consumption in that direction and was
side,
There were also some showers in
scattered sections of the belt, rather
heavy liberal in a few localities, while
some OF the map readers thought they
could see chance of another unfayor-
able turn in the weather. They claimed
there was some prospect of weather be-
coming unsettled again, which would
most certainly be a stimulant to bullish
feelng, as only part Of the fields have
beer cleaned and a wet spell now would
be disastrous in many sections. This
was an influence, chiefly against offers
being made.
Then later in the day there was a lot
OF opinion to the effect that chances
o. Germany signing the peace terms,
hard as they may consider them, were
improving. This wa regarded as one
OF the reasons for the stock market
yesterday being so strong, and again
today, and 1t vas followed by a certain
amount of buying in the cotton market.
AS offerings were limited the advance
soon became considerable and resulted
In buying broadening, Stop-loss orders
We're reached and uncovered and there
was little to check the rise. At the ton
prices stood close to $40 a bale over the
lowest level of yesterday, which was
indicative n unfavorable to pros
poets for the new crop.
AdVlces from the goods market con-
tlnue good, for there is a scramble for
goods, showing the paucity of stocks
In the hands of the distributors and OF
offerings from the mills. Naturally
when the news from abroad seemed to
indicate that peace might be near there
was incentive to taking the buying side.
Liverpool futures finished the session
very steady, 80 to As points to the good,
whereas 20 to Is up was due. Spots
were up Is points. middling to 19.46d,
with sales 5000 bales, including 4.600
american. Receipts for the day were
400 bales, all American.
The opening on this side was steady
n higher in response to the good ca
bles and to some reports of rains in
the belt. October wal 35 points to
the good at 80. Zoe, with the disposition
at the start to hesitate. There was
a moderate dip, the option dipping to
SO.4Sc, which proved the bottom for the
day. AS the news became effective
as an influence n it was seen that
the technical position had been mate
rally strengthened by the reaction OF
the past few days, prices started up
ward, but 1t was in the afternoon that
buying came in larger volume, Wal
street leading in 1t. The October posi-
tion worked up to 81. 75c, a rise of 100
points from the opening, 127 from the
early low and 1876 from yesterdays bot
tom. Some profits were accepted on
the bulge, but the reaction did not get
far, as sentiment was distinctly more
bullish than recently.
The spot department did not have
very much news, although clearances
for the day were liberal and the ex-
pectations are for more favorable week
end statistical comparisons. Business
is not large, but one reason is that
holders are offering but little.
Futures closed IS to 1872 points up,
tone steady.
New Orleans closed It's to 143 points
higher, tone l~r-cgular. Spots were
marked up IS points, S1iddling to 81. 13c,
with sales 1872 bales.
Liverpool Is due to conn 80 to 3S up.
In the local market saleE were 1900
bales and quotations we're unchanged,
middling at 32c.