The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-10-18
SPOTS SCRAMBLE
MARKET FEATURE
Prices Firm and Higher and Premiums Well Sustained
WeathefNM Most Sections Unfavorable and Com
plants Numerous-Some Realizing at 35c Level

the rains would be an increase OF yield
in certain areas. but this naturally Is
contingent on frost holding of very
late and there being some warm Gays
and nights later. The weather as a
whole proved a help to the bull stoe'
especially in that it reduced the pros
pective and actual supply OF the better
Picking was seriously interfered with
and so was ginning. resulting in antlcl-
| patton of very bullish figures on the lat-
ter for the period ending WIN thIs
week. The report is expected Oct 20
| and will confirm the reported scarcity
| Of good cotton, In connection with this
report and it's probable bulltsn tenor;
| there has been ordered a supplemental
condition report as Of Oct. 70, to come
| about Nov. 2. which its sponsors claim
will show that the usual final OF the
| season was inaccurate and
in that il failed to take properly INTO
account the acreage abandoned. Xxx
| pecting this to be very hullish, traders
have been slow to go counter TO the
h,ti'ish current
Politics Look Better.
Political developments have been rath-
er favorable to the up side, for there
has been some increase in optimism
and prospects are better for early rat-
f~ication of the peace treaty. Labor n
ditions have at least not gotten ans
worse and some progress been made
toward a return to normal. Foreign
exchange rates rave not held their own,
but there wa increased evidence y
important efforts toward extension OF
credits to Europe, intangible as most Of
them were.
In some quarters It was said thai
one reason for the weakness in ex-
change was the offering Of more eottoT
bills, thus pointing to increased export
!, soon. For the week clearances were
small, but there is every reason to be
lieve that they will jump sharply soon
Already movement to the ports has in
creased considerably and the movement
into sight, reflecting the course Of raw
material toward the mills, a ahead o
q year ago by a goodly margin. &C
cording to Hester, the amount for TN
week was 406, 900, compared with $50,
900 last year. the largest excess an!
time during the season. Spinners too
Fl 206, 900 bales. compared with 16S,O0'
/, same week last year, bus there wa
, still some relative gain in the visibl
supply of American,
/ From the speculative standpoint tn
week was rather commonplace and op
! erations were on a small scale New
, was too much one way and sentlmen
, too much the same to encourage any
Z body taking the selling side. Abou
the only ones who sold were those wh
g had hedges against their spot need
and turned them loose when they go
\ the actual, or those who had specula
|. tive profits and wished to convert ther
q into the coin OF the realm. However
y as the near options approached 30 cent
willingness to sell a little increased, 10
the rise from the extreme low level
e New York Appropriated $35 a bale, De
: cember touching 34,S4c as compare
= with 2S.1lc some weeks ago. This ad
: vance has been more nearly contlnu
a Gus than any one Of similar extent eve
experienced, being interrupted serious
q ly only once, so naturally there wa
fear that the technical position of tn
e affair had gotten somewhat weak an
I vulnerable. But for the leadership {
the spot department there would hay
q been much danger in following the ris
e for SO long.
The crest of the rise was on Frida
and before the day closed the reactio
: was only about half a cent. SentimeT
still leaned to the bull side, for ther
n has peer disposition recently to redrc
d crop expectations and some well IL
innate turn. excluding ~linters, will
d less than 10, 600, 900 bales.
n be less than 10000 900 bales.