The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-03-28
COTTON Markets
Market Displays Alternate
Strength and Weakness,
With Net Change Small.

EilAdN NlttIUoOHs MARCH %
The cotton market continues to wiz
tuauy mark time and await develop.
ments. Alternate strength and weak
ness was displayed today, with recovery
in the afternoon after the dip which fol-
lowed the slight bulge In the forenoon
the result being small net change IN
prices for contracts.
There was no startling news, but at
tentiou was still directed largely "a
what Is happening abroad. The in
formation that the peace council was
stu meeting some difficulties which had
| 70 be ironed out was a bit d~isconcert-
ing and afforded some OF the profess
SIGNALS preteXt for a little pressure, LIT
they fOuDd after a while that suppl Ct
was fairly good at prevailing Levels.
The further decline In British ]consOls
did not help sentiment any, for II Is
feared IL reflects uncertainty in high
circles as TO the progress toward sat
i~sfaCtory and early peace. Whether OF
| not 1t had TO do with the late easiness
IN Liverpool was a mere guess,
The weather In the belt was given
some weight, for the map showed al
absence OF rain during the past "a
hours. Temperatures were rather low,
but did not interfere with progress in
field work, and the indication this
morning was for continued good
weather and gradually rising temper
atures. Bears are giving close atten-
ton TO the weather and in some quar-
ters mention was made Of the fact that
the first guess on acreage showed less
reduction thai the South is working
for, However, there Is still consider
able delay to be overcome, and the
labor situation Is not any better thai
II has been.
Liverpool was due to come q to %
points to the good, but was much bet
ter than due early. Before, closing, how
ever. weakness developed and finals
NTgTn hn FaiN QfnnhW ut "A net Rnin nf IT
70 30 points, Spots were marked up So
points. good middling to 16. SD, with
sales 1000 bales, including 3.T00 Amert-
can. Receipts we're 5000 bales, includ-
ing 1900 American. Manchester advised
that cloths were dull and yarns were
duh and depressed,
In the domestic markets there vas
but little Initial change for new con
tracts, July being at 22.50c, Trading
was light and without much feature,
but after q little while the price worked
up until 90. zoe was touched, which
seemed to attract some selling. coming
from Wall street and professionals.
There vas a subsistence OF demand for
Liverpool account and II was figured
that the weekly statistics would be
bearish. Also, the easiness In consols
and favorable weather in the belt fig.
ured, the result being a gradual decline
until July sold at 22.26c, a drop from
the high of A. points. There was COOS
| Eullpfl lThn u lew OpHEhlOIh anu VI
ferings were scarce. the result being re-
Covery OF nearly all the loss.
Activity in the old style was more
restricted and fluctuations we're wider,
July selling from y, zoe down to q csc
and recovering to ~, 2bc.
In the spot department business con-
tinued restricted, with little that was
new. Exports for the day included
about 26,69s bales for the Orient, but
the weeks total Is moderate, Into sight
movement showed a loss Of about 5000
bales from same week last year, en-
couraging expectations Of bearish Wis
ible comparisons, for takings had To
compare with $685. 900 this week last
year,
New contracts closed "A points up to
20 down old = up to 90 down, with tone
steady.
New Orleans new closed II to Q points
lower, old unchanged to Is points down,
tone steady. Spots were unchanged,
middling at 26,25c.
In the local market inquiry was moth
Ing extra, yet sales were 400 bales
making the weeks total 10, $50. De-
mand ran TO the medium and better
grades. Quotations were unchanged
mlddling at 26. 75c. Estimated unsoId
stock Is 252, 900 bales, compared with
1875, 900 last year and IFS, 900 In 1917
Linters in stock are $4,000, compared
with %, 900 last year and 10000 in 1917