The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-03-18
COTTON MARKETS
Market Displays Strength
Early, But WeakenS.
Weather Better.

-r-H+a HhNN'hH mum NANANANN .
Moderate strength was displayed by
the market during the early part OF the
session, but failure again OF spot de-
mana 10 develop discouraged buyers and
later a moderate amount Of pressure
found the affair In shape to respond
readily thereto, There was as usual
plenty Of excuse for selling. although
the market acts as II IL has a fairly
sAaSy uGdereERe.
The weather map showed that the
rains received overnight In the eastern
ielt were not heavy and did not extend
all over, while In the western and cen
tral belt skies were clear and tempera-
lures not low enough TO hurt. The fore
cast or fair all over was encouraging,
although the rains Of the past few days
VIII keep work delayed for some days
yet In many sections. However, in
Texas conditions are getting better and
work Is making progress out there. A
wire from one point during the day said
that everybody was busy and that plow-
ing was being pushed. IL requires but
little Of this sort of news, while the
trade is in its present humor regard
ing values, TO start bears to hammering.
The spinneTs adhere to their policy OF
doing little, although reports from goods
markets In this country are more favor
able and prices are rising as demand
expands. On the other side, however,
there is little improvement and the
mills for one reason or another are buy
ing slowly. The reports of higher
freights and Of scarce offerings mean
further interruption of buying for that
direction, while the trade is realizing
more and more that financial arrange
ments are not being made so easily as
thought possible by many. There has
Also been some little conflict of opinion
as to certain Of the peace negotiations
and all Of this has helped restrain buy
lnR which nntnFA l1N nhnpln lpanpnua-
ment on this side. II seems another
case Of where prices discounted rapidly
promised Improvement and now there
Is a chance for the re~actionists.
Liverpool finished rather irregular
and from 10 points up to IA off, with
tone caleld steady. Spots were marked
down 3 points, good middling to l6.3ld,
with sales 1000 bales, including l,l00
American. Receipts for the day were
u 900 bales, including 17,4 400 American.
Manchester advised that cloths were
quiet and yarns irregular.
Opening prices 'on this side were gen
orally lower and there seemed little
support in sight. News was rather
scarce, but septiment bearish on ac-
count OF several things, Old May opened
Is points off. at % S5c and dipped to
23.65c on the call, but recovered to
24.05c in a short while, later reaCting
further. New May opened Is points off,
az S1'pVCt Dull kuou support utNelOpeu
and 1t sold up to "a. 90c, but for some
reason offerings increased and In the
afternoon 1t had sold back down as low
as 24,22c. There was no large trading
any time during the day.
From the spot department came little
news of inquiry and business a re-
strlcted. Some advices told Of willing
ness TO sell, but that buyers were not
doing anything for the moment. There
was, however, no sign of easiness wor-
thy of mention, and holders were conf
dent OF buyers coming arouQd soon,
Old contracts closed 25 to IS points
off, while the new were Al to 10 points
lower, one steady.
In New Orleans the old were IS to 70
and the new 50 to 46 points lower,
with o n Irregular, Spots were un-
changed, middling, 27,5Oc, with sales
1853 bales,
Liverpool should come rs to 81 points
lower.
In the local market, quotations were
unchanged. middling at q, 25c and sales
1,6OO bales. Inquiry apparently has SUBJ
sided here.