The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-10-31
COTTON Markets
Market Narrow and LlStleSS
and Bureau Condition of
SILL Small Factor.


Comparative narrowness featured the
cotton market today and traders were
disposed To keep close to shore, The
much taIked-of bureau report, showing
condition OF the crop on Oct. %, issued
because a certain element in the cotton
belt did not like the usual final report,
ceme better than expectations, which
had been based on the several private
estimates. The figures were Sill, which
showed a loss from Sept. Is Of S.3
points, whereas private guesses were
for larger amounts. One private one
out this morning anne 4S.1, compared
with 56,S, while the average OF the pri-
vat reports was under so.
The threatened coat strike was a fac
tor Of more weight, apparently, than
anything else, for II occupied more at
tention. It vas full of possibilities, for
If it should come and tie up the fuel
supply every line OF business, including
cotton, would feel its effects at once.
Opinion as to whether IL would be or
not varied, but there seemed to be
later in the day a more cheerful feel
ing. as TO It and in the stock market
real b~uoyancy resulted from the in
creased optimism.
The weather map showed ~cloudiness
in all the belt, with rain at a number
o. places n PROJECTS were for more.
There was some promise of cooler by
tomorrow in the upper western belt
and further into the belt by Sunday, but
recent experiences have taught the
trade to be dubious about the cold COM
Ing. In the meantime the crop is suf-
ferlng in grade and seed sprouting con-
tinues.
Liverpool was not up to expectations,
rejecting more Indication in that d.
rection Of the break of the short in
terest having been protected. There
were few cables, but the narrowing OF
| differences between the near and dis
tant, the latter showing gains as against
losses for the former, tended TO en-
courage more conservation over here
for 1t has been the buying from Liver
pool which has helped stimulate bullish
action in this country. Finals were
] steady and from rs points of to 80 up
/ Spots were marked down Is. points
middling to 24.25, with sales 5000
bales, including 1915 0 American. Moth.
ing was received. Manchester advised
that cloths were in good demand anc
yarns strong.
On this side there was a good open.
ing on the weather and expectation o.
a bullish showing when the report
came at II o'clock, while a fairly cheer
full feeling as to the strike preValled
December started at 1913 in New orr
and sold as high as $685. but reacted
some when buying subsidized and somt
profits were accepted. The report com
ing a little better than expected re-
sultedtin a slight dip, December touch.
ing 36.40, but it recovered to 1915 am
later dropped back to around TN
previous close. The same disposition
to buy the later positions and sell sons
hedges in the near, thus taking al
vantage Of the premiums on the latter
prevailed to a moderate degree,
The spot news was not very I'M
portant, although some few wires SAT-
demand was less keen, although no
body claimed that good grade whit
and staples were not as salable a
ever and at full prices.
Futures closed y to II points up, ton
very steady. ;,
New Orleans closed s points up t
ID down, tone barely steady. Spot
we're unchanged, middling at 3se, witt
sales 1892 bales, H.
In the Memphis market sales for tn
day were 200 bales and quotation
were unchanged. middling at 40c.
Weeks sales here were IL, 700 bales
Estimated stock unsold in the hand
OF factors is 5000 bales, compared wit
100, 600 last year and $4,000 in 1871
Linters in stock are 5000, compare
with $4,000 last year and 1850 in 1911