The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-05-05
COTTON MARKETS
Market Steady and Most Time
Shows ~AdvanCe-Weather
Being Closely Watched.

H@a H
S~teadiness ruled in the cotton mar
ket today, although disappointing ca
bleS and a fairly good weather map
over the weekend encouraged some
easiness in the early part OF the trad
ing session. Just what prompted Liv-
erpool 10 come worse than expected
WAS left to CROSSWORD, but II was
thought probably due TO the character
OF weather and crop accounts being
received from this side. The develop
ments at Paris were regarded as favor
able, for the opinion seemed 10 prevail
that Italy would soon be back at tho
table and that adjustment OF differ
ences would be had.
The weather map showed that some
rains fell in certain sections over the
weekend, but the feature which en-
couraged a little buying was that IN
dications were for somA rain, thus
arousing the bugbear Of a wet May
talk, This proved a fairly good talk
ing point, especially as there Mas also
marked strength IN the grain market,
which probably stimulated some firm
ness in cotton, as the two markets
have for some time been so closely
associated. However, there was prom
Use OF cooler weather to come into the
belt, though not to the extent that
harm Is likely to he done, which tended
10 neutralize fear Of rain, The fact that
the two domestic speculative markets
will be closed tomorrow, due TO Ceie-
bratiou In New York OF the return of
the nth division Of soldiers. also was
a factor inducing some covering, lest
some surprise come,
More acreage reports are coming, one
today from the National Ginners' assoc
citation showing a reduction OF l4.6 per
cent, thus tending TO offset some OF
the more beaTish ones, Sentiment is
tending toward an expectation OF a
reduction of somewhere between 40
and 10 per cent, so the effect Of figures
around there are not expected to have
much influence.
Liverpool was due to come II points
TO the bad, but closed quiet but steady
At a net loss OF q to %. There was
better business in the actual, sales to-
failing 1000 bales, including 500 Amer
lean. Receipts were nothing. There
was little news from the foreign center.
A. the opening domestic markets
were quiet and ut slight declines,
and news wa scarce and without color,
Trading was small and professional
sentiment seemed in favor Of further
reaction. Advices from the goods mar
kets were favorable and there was
nothing but good news from the spot
department. which was accompanied by
fairly good support. July opened at
26.62c. touched 26.btC and then rose
until in the afternoon it sold AS high
as 26. SSc. october in the same time
started at 2460c. went as low as 24.6Sc
and up to 24,9lc, realizing meeting the
higher level and a moderate setback
following.
From the spot department came little
that was new, but demand as a rule
continued good. Scarcity OF freight
room was still complained OF. but a lit
tie was offering locally at an advance
Of 30 points over the last quotation,
the new price being $3.50 from gulf
ports TO Liverpool, One of the hin
ORANGES to business Is inability to get
space for shipments, But there are
promises of relief soon, which is help
ing TO give strength 70 the market.
New orleans sold 4,lt2 bales at I'M
changed prices, but business generally
was moderate.
Futures closed . to II points up. tone
steady.
New Orleans closed . to 6 points
higher. tope steady.
Liverpool should come unchanged.
In the local market inquiry continues
good and the market is in healthy
shape, with exporters apparently doing
most OF the business. Sales for the
day were 1850 bales, with quotations
unchanged, middling at Csc,