The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-08-06
COTTON MARKETS
Market Extremely Nervous,
But Apparently Technical
Position improved.
Wednsgday afternoon. an.

wednesday afternoon, Aug. s
Exertme nervousness characteriEes
trading in the cotton market and there
is a conflict of influence which adds to
the usual troubles Of him who would
undertake to meet the high cost OF liv-
ing from profits taken from the affair.
There is 50 much unrest and unsettle-
ment in so many different directions
that opinions are necessarily unstable
and subject to quick change. The af-
lair today seemed to have reached
bottom for the time being, but buying
people seemed to have any fixed ideas
Of value.
the labor situation in this country
hows no change for the better, while
there liz real uneasiness over the out
come Of the tremendous demands that
the leaders appear to be making. The
movement to afford some relief to liv-
ing costs goes on apace, yet the de-
cline in foodstuffs had a check In the
announcement from the head OF the
grain corporation that wheat prices
would remain fixed. The result vas a
sharp upturn in corn and provisions,
leaving the main reliance for relief the
effect of public opinion and adminis-
tration efforts to run down the ones
who are alleged to get a dispropcr-
tomato profit.
The exchange market was c~onspieu-
Gus and easiness reigned there, 1t bor-
dering again almost on generalization.
In the early afternoon sterling was
reported quoted at $50 for sight and
4.24 for 9o-day, while francs were off
even more, quoted at no. The effect
Of this was naturally disturbing. al
though it had to share honors as a price
influence with some other things. Peo-
MA wuVhn pAxFipN 10 Aasr INTERNATIONAL un-
ward value movement soon, and some
of them think further declines likely.
Liverpool came better than due early,
but quickly awakened and went sharp
ly downward. There seemed little sup
port and some private cables said that
Manchester was prominent IN the SELL
ing. Finals were unsettled at a net
loss OF 49 to ~ points. A cable said
the market had been cleaned out and
was healthier. Spots were marked down
SO points, middllng to 1920, with sales
1000 bales, including $500 American.
Receipts were $4,000, including 1900
American. Manchester advised that
there was less doing in cloths and yarns
were irregular.
Opening in the domestic markets was
rather wild and irregular. In New York
October started at AZ points off, at 3lc,
while December was off only 3 points.
But there was seen some adjustment.
II6 JdPo WCtC AACNlNNA WhOA bhy hhcg -
was Wall street, while Liverpool at
first was selling and later began to
buy some. The recovery extended until
October touched 1880, when another
wave of selling came, only to be fol-
lowed by an upturn Of about half a
cent. Then another dip, an upturn to
2.10c for October and after that back
ing and filling and a moderate recess
sion. There was no regular trend and
neither side appeared anxious to do
very much.
The weather was generally favorable,
a few light showers reported for the
eastern belt, while temperatures were
rather high in some few sections. Indi-
cations were for sorne showers in the
eastern belt and fair in the west, not
enough, however, to occasion much
help either way, The weekly summary
was rather favorable, but had some
features not to the liking Of the bears.
1t proved barren Of results as a fac
tor.
Futures closed II to IS points UP, tone
very steady.
New Orleans closed "a to So points UP,
tone very steady. Spots were un-
changed, middling at S1.75c, and sales
rs bales.
Liverpool is due to come 1e to IS
points UP.
In the local market sales were $50
bales and quotations unchanged, mid
ding at 34.b0c.