The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-11-21
COTTON MARKETS
Figures as Expected,
But Market Has Little Posi-
tive Tendency.

Friday afternoon, Nov. Il.
But little interest vas manifested to-
day IN the census figures on ginning to
Nov. IL, they being very close to ex-
p~eetations. The mount was announced
as I,577,S26 bales, compared with S,706,
40 to even date last season. Some
gossip writer's said that a little selling
was done on them, hut the effect was
small and lasted only a little while.
Other things received more attention,
among which was improvement in
sterling rates and some easiness in
money rates in this country. Liverpool
was stimulated to some extent by a
sharp rise in silver, quotations jumping
~ pence, but this was attributed by
some authorities TO the money market.
However, It was regarded as being
quite favorable to the Manchester trade
outlook, as II helped to offset the de-
probation In sterling rates, AdViees
from Liverpool said that there was con-
siderable anxiety over the continued
depreciation in exchange, although best
posted people think the n is not yet
and that rates win drop further.
One of the reasons for the improve
ment in money conditions on this side
was that liquidation has largely run its
course and much d%iscounting had been
done. The stock market was better
and in spite of the coal strike situa-
ton, which, despite some optimistic
rumors early in the day, showed no
signs of being ended. Advices late in
the day said that both sides apparently
were deadlocked. The press reports
was getting in various sections, but the
fact that it was getting so bad was one
of the reasons why in some quarters
there was an idea that it soon would be
adjusted in some way.
Liverpool again closed rather irregu-
lar, the list of options being from p
points up to s down, with tone called
steady. Spots were marked up 8
points, middling to 2S,75d, with sales
5000 bales. Receipts were IL, 900 bales,
including II, 800 American. M~anchester's
report was very favorable. Cloths were
reported strong and busy, with extern
sive demand and healthy turnover, while
yarns We're called stiff.
At the opening on this side the list
was but little changed from the previous
close, March being down to 1890. On
the little early selling II dipped as far
down as $3.50, but support improved,
coming from trade interests, although
the improvement vas slow. Rumors re-
garding prospective settlement of the
coal strike helped, but a more potent
reason was the better money situation
and absence Of anything suggesting
weakness in spots. The recovery was
nearly S. a bale, but some profits were
taken and a dip followed, only to be
displaced later by a rise of March to
1898, from which another sinking spen
was had. The latest advices were less
optimistic regarding the strike situa-
ton, while some wires from the belt
told of an easier basis for spots and de-
mand was not so Keen.
The. weekly statistics made another
bearish showing, but received small
consideration. Movement into sight
was SAT, 900 bales, compared with 432,-
900, while ~spinners took S69, 900, against
$50, 900. thus making visible supply show
a relative gain. Exports for the day
were large, H. 900 bales being cleared,
making the amount for the week 1885,
900, compared with $4,000 a year ago
for the same period.
Futures closed co. to. IS points off;
toni easy.
New Orleans closed 40 to rs points off,
tone steady. Spots were off rs points,
middling at S.75, with sales $50 bales,
In the local market sales for the day
were 1.760 bales, and quotations were
unchanged, middling at 40c.
Weeks sales here were 7,450 bales.
Unsold stock in the hands of factors is
estimated to be 1000 bales, compared
| with 157. 900 last year, and 1877, 600 last
| year, and $500 In 1917. T