The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-04-15
COTTON Markets
General Betterment of Feeling
Induces FirmneSS and
Prices Work Upward.
tuesday Afternoon. April IS.

Optimism is spreading and sentiment
as TO cotton values is distinctly more
bulish than il mas been This is espe-
Cially true in certain circles, which
rouse a suspicion hat some Of this
Is based on design rather than alto
gether on altered facts, The time Is al
hand for planting, and it is progressing
which causes som folk 10 think that
certain of the professionals are doing
all in their power TO boost prices now
and thus help upset some Of the plans
for cutting acreage. These spring rises
have come so frequently before that IL
is entirely natural for such suspicious
TO find a place.
There is. however. a much more
hopeful feeling regarding peace prog
ress. and the idea now Is that actual
signing of the terms is not far hence,
which naturally inspires bullish feeling
There are evidences Of this in more
directions than one n It now remains
a question of how soon this will be dis
counted. The market today acted as
II II had hardly been completed, al
though lots of profit taking was lone
on the bulges.
The census report on consumption
during March came more bearish than
expected, the amount used having
been 4SS ,000 bales, against 81 900 Tor
the same period last year, but this ap-
parently was not given much Consid-
Grafton, II evidently was regarded as
history, and attention was turned TO
the future and to what was taking
place at the moment. There were some
features that were not quite so bear
ish, particularly the amount of cotton
~spinners have in stock compared with
a year ago. The trade reports at the
moment show that mills are increasing
their output and there Is tirmness IN
the finished goods markets with broad
ening demand. and this Is helping 10
stimulate bullish feeling.
The weather was also a factor or
strength, although the map this morn
ing did not show up so bad. There
were light rains In the central belt, but
private reports later indicated That
heavy ones were falling after the time
the map reports were sent in, when
naturally made the trade eNpeC Tie
weekly tomorrow to read b%ullishly. The
promise was for fair and colder to lol-
low the rains, with possibly frost In the
upper section Of the western belt.
Liverpool was much better than eN-
pected, closing steady at "a to Al
points to the good. which reflected
feeling in that direction. Spots were
marked up 8 points, good middling TO
1g28d, with safes 1000 bales. Receipts
for the day were 1000 bales, including
1900 American. Manchester advised
llht CLOUDS NGlG 'iuW anu S"liS NO'V
hardening,
Frmness prevailed at the opening on
this side, overnight news from Paris
being regarded as favorable. New
July opened % points up, at 2b.20e,
while october was up is points TO
20. 45c, the list reacting moderately af-
Ter a bit on the bearish census report.
July dipped to 25.l2C and october
25.S5c, from which moderate recessions
took place. Spot advices from the belt
and the anxiety of shorts helped In
the upturn,
Some wires from the belt told OF ac-
tive demand for the actual, a Paris,
Tex. report having II that a line OF
go, 600 bales had been sold to spinners,
Exporters were also reported as being
In the market. while holders were not
so willing to sell, having elevated their
ideas Of value since the market has
been so steady. New orleans sold 4,b6l
bales, but left quotations where they
we're yesterday.
New contracts closed 20. to 46 points
up. old ~ TO 66 points up, tone steady,
New Orleans new closed 30 to %
points up, old l6 to so points higher,
Liverpool Ia due to come 2 points
lower to 10 higher.
In the local market inquiry was good,
but the day was 40 dark and rainy that
business was done under difficulties,
which probably reduced sales consider
ably. Holders are not offering 30 freely
now as they were, encouraged by this
improved demand. Sales for the day
were reported as 9,700 bales. while quo
tations were unchanged, middling a.
26.50c.