The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-03-26
COTTON MARKETS
Disturbing Foreign News En-
CourageS Further BeSrlSh
Efforts in Market.

Wednesday afternoon, Naftu 20
In the cotton market there seems TO
be one thing after another 10 upset
buTish calculations and enable the hears
Ia hammer values. No sooner rs one
new phase met and overcome. giving
rise TO a feeling of hopcfulness Of the
worst having passed, han something
else develops which calls for ADJUST
ment. rhe latest thing is the uprising
in Hungary. with its possibilities OF
serious results and delay 10 the sign
ing Of peace. So long as this latter Is
postponed there seems small chance OF
business people taking hold OF anything
with any degree of confidence or Ger
tAinty,
The market today was largely under
the influence Of this, although at times
ii was said that spot people were quiet
Nv absorbing offerings. There was,
however, no evidence Of buying power
Of consequence or attention to the late
ness Of the new crop start or the pros
pective reduction IN acreage, when
seems more and more assured, especial
" since the disposal Of the old crop
supply proceeds so slowly.
Liverpool did not show much strength
and closed barely steady at a net loss
Of IA TO 20 points. II was reported that
British C%onsols, the standard govern
ment security, were lower, probably re-
flecting the anxiety over the disrup-
ton on the continent. The sterling eN-
change situation was no peter, but no
new angle was presented In II today
Spots were marked down . points, good
middling to l6.53d, with sales 5000
bales. including 400 American. Re
ceipts were l6, 900 bales, including $500
Opening prices in Ire domestic mar
kets did not show mueh change from
the close on Monday, nut support was
,u.N.r aud g,gF, fairly In Tun declines
were recorded, The Hungarian news
was mentioned as the chief influence,
weakness in the stock market being a
factor and most Of the selling coming
from the professional element. which
paws most attention to that New July
dipped from q 75c to q soc Rnd then
recovered to q f3c before starting ON
another dip. The latter extended TO
q. 35c, when supporting orders again
Casle In, presumably from people who
@lght the decline gone far enough,
~ prices for the new crops were under
cost Of production. The upturn eN-
tended to the opening, when another
selling wave came, helped by some eNl-
dence Of e~Asiness in the spot depart
ment and lower quotations at certain
centers. July sold down to q csc, and
hut little recovery followed, Old July
opened at q, SOC. and did not show
much change until in the afternoon,
when II reached as low hs 2l,uhC, a
months were not off quite as much
as the near, but buying in them was
by no means aggressive.
The weather map showed that some
rains fell in the western belt over the
holiday, perhaps checking work some,
but the forecast this morning was for
fair and cooler, with showers to extend
over the central and eastern belt. Ad-
vices continue to tell of lateness and
one rumor during the day said a very
hullish crop preparation report was
scheduled TO he issued soon,
In the spot department business con-
tinued small and in New Orleans quo
tations were reduced so points, mid
ding to 2 $500, with sales 3S4 bales and
1000 bales delivered on contract.
Futures closed 60 to 25 points off for
the new and 80 to S off for the old, tone
steady
In New Orleans new contracts csosed