The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-11-04
COTTON MARKETS
Scramble for Actual Fails to
Show Sign of Diminishing.
Frost Is Expected.

AMSoAnH atAtINool NV y
Win no dtminution In the scramble
Tor good quality cotton and with Liver
pool itear positions rejecting demand
almost bordering On hyEteFla over there
bullish incentive this morning was
plentiful. On top Of this was promise
OF some frost and possibly light fTeez
ing m part OF the belt over night, Which
added to the feeling OF anxiety among
the shorts. The fact that New York
was closed because Of election In that
state made New Orleans have 10 carry
more than the usual proportion OF
hedges. thus making the uptnrn larger
perhaps than Il the orders had been
more widely distributed Highest prices
yet touched were recorded and there
Was further elevation Of quotations for
The actual. The only reason sales are
not larger is because offerings are not.
Liverpool was due 10 come only few
points up, but there was a rush from
months. Silver metal was UP a full
pence, to the highest prices ever known,
this being a considerable impetus to
demand for the Orient, while the for
eigner is evidently afraid Of the pros
bect for movement from this side. The
scramble towards the close became
sensational and finals were 81 points
up to down, tone being firm on the
hears and quiet on the distant, Spots
were marked up "a points, middling to
a4Ssd, with sales 1900 bales, including
1880 American. Receipts for the day
were $4,000 bales, including $4,000
American. Announcement OF a plus cor
rectlon in the stock failed to be fac
tor, as there was demand for every
bale. Manchester advised that cloths
we're active and yarns were harden
ing.
December in New Orleans opened IS
points up, at STs5c, and sold to Sc
In, faxs ms gAu
taking followed, sending the option back
TO S7.77c, but this was brief and soon
the list was back up to new highs.
The weather prospect was a factor, as
was q report that In well-informed cir
Giles the idea prevailed that the coal
strike would not last long Moreover,
there came nothing but bullish adVices
from the spot department December
sold back up to 1880, after which a
| lull and slight recession came, but when
the news began to come In the later Bes.
zion from the spot markets the list
worked Upward again and December a
short while before the close sold at
SS,S7c.
The weather outlook, but for the fear
| Of frost, was good, but IL IL realized
that killing frost now in Oklahoma and
part OF Texas would do harm to the late
| cotton But little rain was received in
the belt and more fair days VIII soon
enable some progress to be made In
| picking
But the chief influence is from the
| spot department. There was nothing
| indicative OF weakness today. and the
| fear OF weakened technical position
| finds small hearing so long AS spots are
| SO much in demand and quotations hold
SO strong SO far above parity with fu-
lures. There continues to be little cot
| ton cleared, but movement to the ports
| Is larger and that is assurance OF big
| cleafanoes ere long,
| Futures In New orleans closed 50 I'd
| 80 points up, tone steady, Spots were
| marked UP 50 points, middling to ACC,
and sales we're 6,556 bales.
Liverpool should some tomorrow 81 to
| 81 points up. 70
| In the local market sales were -
bales and quotations were up 100 points
middlinE to Ale.