The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-09-17
COTTON MARKETS
Market Up Early on FirmneSS
in Spots and Crop Com
plants, But WeakenS.
Wednesday Afternoon, Sept. II

n -
Continued now Of complaints from tho
fields and some disposition to revise
doWnward expectations on yield, togeth-
CT with more activity on the part OF
september spot shorts to fill their com
Ialtmehls, helped give strength to prices
uHs tne Ilrst part of the market ses-
sion. AT the crest Of the Use quota
lions were nearly half a cent over The
pESvlous close, December in New York
sSiins az SO.b2c, about $3.50 a bale over
the recent bottom. Sharing in the IN
Iiuence on he minds of those who were
Sno!t was the oulllsh tenor of the week
~ weather summary, although this
merely confirmed the news OF the mast
1eW Jays as to the damage from the
storm and insect activities. However
the statement hat most OF the Georgia
crop would be picked by the end Of this
some had expected.
but buying power lessened after 3Oc
was passed, and there was less short in
terest 10 De u In. A period of ouiet-
uoe iouowed, but not much reaction I'M
VI concern over the domestic labor sit
ual i was given fresh impetus. Ad-
wees from the conference of steel work
ers were rather pesslmistlc, based on
tne radical utterances of the chairman
oi the meeting which stimulated de-
CIlhes IN stocks, grains and cotton. for
~ was feared a strike would be the re-
SUN. Ihe decline extended slightly
over IUO points from the mornings high
est level, December touching 2g57c
asainst S0.62c. But support met the
market after so much drop and there
seemed no disposition to push the de-
cline too far.
The foreign market today lent en-
to those who we're bullish.
Liverpool closing steady al a NET gain
OF u 10 az points. Spots were marked
up, 50 points, middling to 1850. with
safes the largest for one day in a long
tIrne, S,OOO bales changing hands. Re-
ceipA LOT h day were %, 1000 bales, in
vices from over there are favorable and
II is believed the lifting of the embargo
on r~eshipments of American cotton je
helping to swell the sales.
Inc weather map showed some rain
IN the northwestern part Of the belt,
~ as RUE dry conditions continued.
mere was som little prospect for
W but such would not be impor-
tant now unless continued. The
weekly summary told of the damage
from the storm and of deterioration
from other causes, but the most impor-
.ant influence now Is the demand for
raw material. One Texas wire said that
Japanese interests, finding 1t impossible
TO I'LL their needs out there, were going
over into the Atlantics and buying. Thus
helping to explain the sharp advance
IN quotations and the larger sales. New
orleans reported more activity in spots,
including some short cotton.
The sterling market was weak early
and quotations went to previous lows.
while French and German money was
even lower, but that seemed to have lit
tie inflence n all were some higher
when cotton prices later on showed
thelr weakness. However, the lack of
anything suggesting relief is couu;nr
hesitancy about following the bull side
Futures closed 4S to Ga points off,
tone barely steady. '
New Orleans closed So to n points off,
tone steady. Spots were up 25 points,
middhng at 30c, and sales 4,427 bales,
points lower.
In the local market sales were 900
bales. while quotations were unchanged,
middling at 3Oc.