The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-12-26
COTTON MARKETS
HIlS Encouraged by Edge Bill
Becoming Law and UptuFn
/ Comes With Ease.


Nothing happened over the Christ
ias holiday to disturb the upward
ana OF prices In the cotton market
the other hand, developments were
toh as 70 lend additional encourage
lent to those who are bulllsh, The
ct that the Edge bill has become
". thus stimulating expectations OF
alter credit facilities for Europe be-
Gre long. and firmhass In the stock
Iarket we're factors Of strength IN
otton and caused covering by the
7 Aorts. Despite the fact that Liver
.oboI was taking a holiday, buying orders
where reported as coming from the other
Yde, presumably being part OF the
J !, hdoinK Of straddles, thus lending fur
her confirmation TO the flattering re-
oibrts coming as to the state Of manu-
.keturing in the Manchester district.
~ ~ IA was also assumed that the re-
!, sorts coming as TO the state OF the
q btton textile industry In France, WhsIe
- Enumeration Is said TO be UNEXPECTEDLY
4 anid helped 10 encourage covering ny
= ~ shorts, II was factor In demand
A.. rbr the later positions, for II means
fsideninv Of outlet for raw material
~ the trade Is beginning TO beleVe
!. ahat 4 way will be found to overcome
he crippled state Of credits, .,..,...
:. y Part OF the optimism 10 specuAuNe
SysaArcIes was attributed to the announce
Want az 4 definite date for the return
s.f the railroads OF the country TO their
sairivate owners, as this is regarded ~ ~
sSnhrking progress toward return "
/. lpF4nnl In business. H. ..,.,
one of the features Of trading was
,,Ihe relative firmness Of tho lster po-
{rations, particularly May ann 3uag,
lIlIaFhich advanced more rapidly ihan
ngsu,tarv and March. II was apparently
: ~ result Of undoing Of straddies' the
Liquidation in the nears being accom-
ttSsniea by absorption Of the later o n,,s
Nh the large discounts prevailing: Inc
tlaa spreads that as spots hoid mn
xand demand continues there WI! ",
VI gradual rise Of options nearer 20 Y
mot basis, which means that shoIu
,hs later months win zee them
.selves face trouble II they stick Y
sahe hope Of holders OF the actual weak
Tradlng started quietly and som
.enriv selling of March was noted, c cry
tied 10 prominent spot interesh. "
Jailed 10 bring any weakness, wv NO,
shecked the rising. tendency, M"'o Ms r|
"a
ppened at $500 and II was not .aIis
hafore 90 cents was reached W WHY,
Eeemed about th9 dividing hne. jury
heNfeyer. showed marked strhglh an
I'm ths afternoon sold as high as w sue
ehicn was as points over the preVlou
eloee March at her best being up ohl'
Ss points Trading was largely pro
Thers was little activity in, spots
hut A. absence Of weakness ana hoIo
I'M ara stln very confident OF hrge
demand after the holidays are eone
Fxpcrts are expected 20 run lasgs W
knYyse time, but statistics are ue'ase
herause OF the holidays, - -.
late trading resulted IN turtheI ~
ma narrowing Of differences betWes
mar and distant positions.
Futures closed Is to l2S points VI
tone steady. a.,. ,,,,n \
IAyerpooi and New Orleans WIZ
closed again tomorrow but all VIII ~
y NuYne business Monday, .-.,..,,.
III the local market inquiry cohtl.tns
4aIrN good for certain kinds OF cottsu1
ana sales reported today we're ~,
hales, making 1900 for the week NM
fations were unchanged, middling AT ~
Ertimated stock OF unsold IN factor
hands ID i2s,N00 bales, compared w
I'M 900 last year and $4,000 IN W. W
fdntsrs In stock are estimated NJ ~
900 bales, against $4,000 last year III
i 1 900 in 1871.