The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-06-07
MARKET BREAKS
ON GOOD WEATHER
Liquidate Freely When Spot Demand Subsidies
and Bull News Comes No Longer-Wide Fluctua-
lions, But Net Loss On Contracts About $5 Bale

resistance feeble. There were plenty Of
reports that il the good spell shoulo
last there would be a different aspect
to the crop outlook and that much Oh
the handicap could be overcome. More
over, it was recalled that in times past
early ideas had to be shelVed,
The suinners were disposed to SLOW
down also. on this side some ooserv-
ers said that one explanation LOT Ine
extreme strength in finished goods was
the limited output, u 70 scarclty VI
labor, which suggested that coHsuLnp
ton figures would reflect TINS lheIs
was reselling of goods from secono
hands, which showed that a lot OF the
buying had been purely FOR speculative
purposes.
Peace Is Awaited.
On the other side there was slowing
! down also, and the disposition was 70
| await the signing Of the peace terms
In Great Britain the Whitsuntide holl,
laws were lust ahead, which would
mean curtailment of output Tor a Pc
Rod. Having been such big buyers o.
n~osition to take a breathing spell and
let the market get back to a more sta.
BILE basis, ever If they thought that
ultimately values would go higher than
they have been. They were at least
in position to walt and see now the
| new CIOD NS6LS diOll6 SAcAS ".
scramble for the unsold remnant OF the
Highest points during the week were
touched on Monday. The weather was
cold in the upper part Of the western
belt and indications were ior tempera
bring frost. On such a prospect shorts
covered and the market bulged, but the
bureau report was out OF the. way, ana
many traders unloaded their long nold-
ings under v Of the bullish weather
The result was a net decline for the
day, which was followed by losses eacn
day thereafter. although at times there
was good support and trade interests
were providing for some OF their re-
quirements. Over in Liverpool there
was a better showing than expecteC
on two days, but this failed to do more
than divert prices momentarily IRON
their downward course.
The weather for the latter half O.
the week was so good that alreao,
many advices were telling OF Wort
Texas said that a week Of It n tner'
would be little evidence OF the, ram, al
though they failed to claim that late
ness would be overcome. 80, !,
What the spot department will d
about following the, decline, remains =
be seen. Holders have sold SO mucl
cotton during the past several week
that they are in fine shape to tax
their time about the rest, 1t is tru'
the stuff is still in this country AM
movement out of it continues slow, bu
better things are expected soon an,
statistics may assume a more builisl
hue. There is plenty Of talk of hov
much more buying there Is to be don
when peace terms are signed up an
business people can know how to pro
coed, but such confidence has been ha
before when there proved to be it'll
basis for it after facts all becam
known. Whether this will be the cas-
this time is not for this summary t
forecast. p,
The progress of the crop is going t
be highly important, and it's cripple
start will be a factor until harves
tine. There are plenty of argument
: for the bull side, although the burde
/ az proof is on that side for a rise .abov
| prices which have been prevailing.