The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-03-26
ROUND The TICKER
Cotton.

New lork-Bears making use OF I'M
settled European news u meeting IN
expected trade demand on decline-Mc-
Elroy to CotteT & Turner.
New Orleans-LiverpoOl better thar
due. The political situation is not good
and may cause some further liquidation
and selling and caus a short interest
TO exist which would cause a sharp
rally on any favorable news.-Shepard
and Gluck.
New Orleans-Of much more i'm
p~Ortance to the cotton trade than the
weakness in foreign exchange is the
information. said to be official, that
the British rate on cotton, Webb com
pressed, from Gulf ports TO Liverpool
has been reduced to Si.60 per 100
pounds, which Is only 10 cents higher
than the rate on American bottoms.
The Importance in this development
lies In that fact hat the British have
the tonnage and the South has the
cotton. Now h a the ocean rate has
been cut to such an extent on English
vessels, the staple is likely to be ex-
ported more freely in the future.-H.
& b. Beer,
New York-Liquidation and profess
sionap selling on European situation
caused decline. McFadden brokers buy
ing May. Texas basis reported easier
in spite Of decline in futuTes.-Cleven-
burg to Cotter e. Turner.
New York-Spot houses buying May
and July quietly.-Hubbard & Reese.
New York-Liquidation old contracts
demoralized market on opening; trades
bearish, not selling end to these sales.
Hubbard to Reese.
New York Cotton Opinions: Carpen-
ter & Co.-Nearly all markets were
badly depressed by reports that peace
settlement might be indefinitely post
pOned by revolutionary movements in
Hungary backed up by military sup
port from Russian Bolshevists, Hut
ton g. Co. We still remain Of the opin-
ion that until condition outside Of the
trade becomes more settled there IS
little likelihood OF any improvement In
prices.
New York-AI New York papers en-
phasize seriousness new European sit
uation preclpitated by Hungary. In cot
ton circles bills are beginning to doubt
correctness of their recent advice 10
buy all ~setbacks, some fearing the next
crop may be on market before Europe
is In shape to take cotton In quantity,
Foreign exchange situation also against
market, as 1t has operated to check
new business by exporters, Liquldatlon
free Monday by Livermore n other
big professional longs sold out, which
improves technical position, but 1t may
be difficult to avoid still lower prices
unless there Is a distinct Improvement
abroad. night letter to
Cotter & Turner.
New Orleans-Weather unfavorable,
but political situation is worse. Oc-
tober now below cost OF production.
Seems best purchase ,-Fenner to Gus
tafson.
Galveston clears II, $50 bales Of cot
ton for England, This Jay last year
total exports were 6,637 bales.
New Orleans.-Telegrams from New
York this morning say that the situa-
ton in Europe Is daily growing worse
There is a rumor that former Premier
Karolyi of Hungary has been assassl-
mated. Feeling in the stock market Is
| growing very bearish and some Wall
| street selling of cotton is the natural
consequence. A report on the new crop
is expected from the Watkins bureau
shortly and Bachman g. Co., OF New
York claim it win be the most bullish
crop report ever issued this early In
| the season.-Shepard s. Gluck.
New Orleans.-Unsettled, nervous
| unless r%eassuring news soon from Eu-
| rope further selling pressure likely
Clark to Cotter e. Turner.