The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-04-11
COTTON Markets
Friday Afhsrneon. Anrn II.

friday Muetuoous AprA H.
Some strength was displayed by the
market during the first half Of today.
session, chiefly on the showing in the
Liverpool market and some buying Tor
thai direction over here. The steadlness
lasted until the foreign market closed,
after which attention was diverted q
other things. one Of which was the
prospective bearish statistical showing
for the week. A more favorable out
look for weather. following a better mar
this morning than anticipated, also con
spired to discourage support. The tech
meal position having been weakened
during the past few days by the upturn,
there was more inducement to a little
effort for a reaction, and Il did not re-
duire much pressure to start the trend
downward. Prices a while before the
close reached levels under yesterdays
bottom and there did not seem to be
much resistance.
Liverpool did much better than ex-
pected. having been due to come II
points TO the bad. Instead there vas
an advance and this lasted until the
close, finals being steady and from Is
to IL points net to the good. IN view OF
further announcements as to closing
down Of mills using American cotton
and the fact hat the shutdown period
for others started yesterday, the
strength was somewhat anomalous, but
apparently reflected improved condi-
lions as to the general outlook. II
seemed to III in with the better feeling
regarding peace prospects, Spots were
marked up 5 points, good middling to
l7.SSd, with sales 1900 bales, including
$500 American, Receipts were 1909
bales, including 5000 American, Man
chester cabled that more vas doing in
cloths and yarns were active.
On this side first prices were steady
aud kAuhnF WDGnnnhknn In the % hln HH-
vices. to continued optimistic feeling
regarding progress at Paris and to a
weather map that showed considerable
rain in the eastern half OF the belt.
There were low temperatures over a
wide area also, which tended to con-
tinue the lateness OF the start. New
July opened at 24.80c and october AT
22.65, respectively 10 and 10 points to
the good,
Sellers were rather timid and the list
worked upward a little. July reaching
24.45o and October 2479c in n short
while, when some profits were taken.
Later they reached 24.b0C and % sac,
Rfter which there was quite a drop,
July dipped TO 23,90o and October to
22.2ie, the bearish weekly figures and
good weather prospects being the chief
influences.
The movement into sight showed a
gain Of 5000 bales over this week last
year, while spinners took "a, 900 bales
less, which made a relative gain Of H.
900 bales in visible American, Advlees
from the belt did not tell OF quite so
much activity for spots, the sales Of the
past few days having for the moment
apparently filled up . large part Of re-
nulreInents, There was5 more strength
In the low grades and they were higher
relatively, but this seems to have been
discounted to a large extent. II was also
said that the Increased willingness on
the part Of holders to accept current
prices was reason for the check to the
npturn In futures.
New contracts closed . to 20 points
up, old SIS points up TO 5 points down,
tone steady.
New orleans new closed is to so
points up, old unchanged to advance Of
4s points, with tone firm. Spots were
unchanged, middling 26.25c, with sales
TS0 bales,
IN the local market inquiry continues
fairly good, with tho low grades stu
wanted and prices thereon relatively
stronger than the better. 1t Ia said
that prices on certain characters OF
cotton In this market during the past
week have advanced 2 to 3 cents n
pound. For the day sales were 300
bales, making the weeks total 90, 800
bales, the biggest business for such a
period In a long time. Quotations re-
main unchanged, mlddllng 20. Soc. Esti-
mated unsold ~ 22b, 900 bales, compared
with 242,000 bales last week, with 1885,
600 bales last year and 16l, 900 bales in
1917. Linters In stock are 80, 900 bales,
compared with l1s, 900 bales last year
and $500 bales In 1917,