The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-08-02
MARKET JUMPS ON
BUREAU REPORT
Percentage of GIL Big Surprise to Trade, Which
Looked for About 69-Market Draggy Earlier in
Week On Better Weather and Less Spot Demand.

ports indicated less insistence on the
part of buyers and some concessions
were reported in offerings from second
hands. There was a more conservative
policy manifest in the security markets,
rejecting attention TO some OF the
danger signals and tracksoreness on the
part OF the bull crowd. This all con-
tributed TO some of the factors that had
been o~vershadowed,
The foreign exchange situation re-
manned o as II a been, rates
showing little variation, but continued
low enough to indicate that little was
being done to relieve IL and facilitate
movement of raw material to Europe,
There was small movement for export
and the balls were continuing to place
the big clearances in the future instead
OF seeing them an actually. There was
small activity in the spot department
and the big visible supply continued to
hang over the market as a possible
source Of trouble, Statistics were given
scant attention, yet they were not en-
tirely forgotten as reasons for caution.
The cotton year ended Thursday, but
final figures were delayed.
One Of the big factors helping the
reaction, along with more favorable
weather and some better reports from
the fields, was the sudden s~pringing
into prominence Of the agitation for
some definite action on the part Of the
constituted government authorities for
relief from the high cost Of living. The
effect Of this on cotton was perhaps
more psychological thar otherwise. yet
i induced many people to stand off,
for it was so closely allied with the
prevailing labor disturbances through
out the world, which hold out such pos
sibilities of distributing business In
practically every direction.
Guessing the Future.
What the immediate future holds out
for the trade is of course problematiA
cal. There is more disposition to look
to the probabilities of how the world
will take the raw material. The big
carry-ovcr win help out the indicated
short crop. yet it remains to be seen
at what levels there will be free SELL
ing. The producing sections have got
ten into shape to Indicate the price of
it's commodity, and It has been doing
or so. Just what 1t will do about SELL
ing around current prices anS> those
ruling for h new crop options time
alone can determine,
That there will te improvement in
export movement soon admits of little
doubt, what the world needs and what
1t can and viii pay for with money so
deprecated, The indicated big move
ment in this country for some relief
from the rising costs m spread and
no man can tell how far will be the
effects. Prices Of the finished goods
are at u~nreasonably high levels COM
pared with what the raw material
costs, and there is danger Of a reac-
ton which may upset all existing cal
culations. ~.
The weather for the next few weeks
will be very Important. In some Sec
tions there may be improvement, or at
least subnormal deterioration, but
chances favor continued depredations
by the weevil. Watching the weather
will be an important function of the
market. but trying to read the signs of
the times in other directions equally
SO.