The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-03-20
COTTON MARKETS
Figures About as EX-
peCted, Followed by Upturn
and Then Reaction.
hursday atternoon. March

&hursday afternoon, March 90.
Interest conferred today in the final
report on ginning by the census de-
psrtment. as II had been an influence
for several days among tho profess
Sionsl element. The n~arrownCss Of the
market perhaps explains why So much
attention has been paid to il, for usual
Is at this time information regarding
ginning is without much effect.
The figures came ll,SSS, 1873. which
with the hnters likely 10 be produced,
mea a total Of about 10, O00. 600 bales
for the crop. Last year final ginning
was Il.246.gi2. Some few traders had
their ideas as high as L., 000, 600 for
the report. so when il came a little
below that some covering was INDUCED
in and prices worked moderately high
eT. The figures, however, very close
ly Appropriated average expectations,
There was but little in the news 10
Influence values either way. but the
tone Of HE affair was better. even
though there was still little DISPOSE
tion to take the buying side. Trade ac-
counts IN this country are improving
and In some quarters there is eXpecta-
ton OF demand getting good enough
so that spinners will buy their supplies
freely. This has vet to m~aterialiZe.
however, and in the meantime traders
are not disposed TO depart from their
tbiitN OF NAlAlHk. me pThCGhS OF lNul-
dating the old contracts is "A slow one,
hut trading therein Is getting more diff
fiCult. Traders still are not willing TO
do much in the new, and they are per-
haps influenced by the fact that wealth
er conditions in the belt are better
and there was nothing today suggest
ing any decided change for the worse.
The map showed that sunshine pre-
vailed over the entire belt and this
morning the promise Of a change,
cloudy and cooler with perhaps some
snow or rain In the northwest sec
tion being the forecast, was not SUI
ficiently menacinE to stimulate buying
Of consequence. Advices as to prog
ress Of work are not coming much vet,
but there Is little doubt that all Sec
lions are getting busy Just AS fast as
possible. for there Is already lateness
10 he overcome.
The foreign market was better than
expected, closing very steady at gains
Of - to q points, finals being around
top for the day. There was nothing
new regarding labor troubles over
there. hut a better feeling prevailed
as to peace negotiations. Spots were
marked off 3 points, good middling to
l6,l5d, with sales 5000 bales, includ-
ing 200 American. Nothing was re-
Ceived.
First prices in the domestic parket
were higher because Of the census gin
ming figures. but profits were taken on
the bulge. Old July opened 80 points
TO the GOOD, at ESQ, while the new
was up - points TO % .95. The former
dipped to ? .55, then recovered to 22.75
and later reacted to 22.S0, The new
dipped to 22.6s. sold up to 23.09 when
supporting orders came in but later re-
coded to 22.52, where it stood in the
middle part Of the afternoon. But little
disposition TO do anything was shown
at tho lower level, yet offerings were
limited.
In the spot department but little was
doing and IT was difficult to get a line
on what sentiment was. Exports for
the week show a fairly large total, but
there is no indication of buying for ex-
port.
OF contracts closed 10 points higher
to 4S lower; new 2 up to rs down, with
tone very steady.
In New Orleans old closed 10 points
up to % down, the new unchanged TO
20 lower, and tone was steady, Spots
were unchanged, middling a. 27.b0c,
with sales 3,82S bales,
Liverpool should come 10 to Is points
lower.
In the local market sales reported
were 500 bales and quotations were off
rs points, middlinG to PIC,