The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-10-29
COTTON MARKETS
wednesday Afternoon. Oct. %.

" SAttE1An9 EAAANAA ANNAAH 49, 80"
y Whether or not it is temporary, there
was manifested today more disposition
in the cotton market toward a reaction
than for some days. Higher prices were
recorded firsts, but a lot Of liquidation
was in evidence and some selling for a
turn. There was less in the weather 10
encourage bullish ideas, While the at
tainment Of levels which many a set
as their ultimate goal for prices has
had the effect OF causing more sober
thought as to further rise. There q
been liberal selling of the actual ana
the prices have been at the dictation OF
the producer as never before. A large
part Of the short interest apparently
has been satisfied, although more may
develop later, especially for the white
cotton and staples. There some right is
left abundant demand to take care OF
what is left and at prices possibly high
er thar yet reached. But there is more
than likely going to be some irregu-
larity in the market when the buying
fever subsidies, and conservative traders
today seemed to be getting ready for It.
The weather map showed that the
cold failed to materialize rs expected
and but little rain was reported in the
belt. A few stations reported 1t rain
ing this morning. but the outlook was
regarded as more favorable, n this
took some Of the wind out Of the sails
of he bulls, The weekly summary later
in the morning was fully as bullish as
expected, but not more so, and thus
was Of no moment as a price factor, 1t
was q case Of the mill and the water
that had already passed.
Liverpool also manifested disposition
to be a bit more irregular and there
was some narrowing Of differences be-
tween the nears and distants, rejecting
! some subsistence perhaps of the scram-
Bile for the actual and a feeling in GER
tain quarters that the rise had been
too rapid. Finals were unsettled and
from As points off to 80 to the good.
Spots were marked up 81 points, mid
ding to "a. 1900, with sales $4,000 bales,
including 1900 American. Nothing was
received for the day.
An irregular opening was had on this
side, the nears being up more than the
distant. December in New York start
ed at $500, an advance Of is points,
! and sold to 37C before reaction set in.
There was apparently a lot OF overnight
buying orders, but the rise attracted
more liquidation, as detailed information
as to the weather was better and the
technical situation in the market was
regarded as more vulnerable, although
nobody seriously predicted much de-
cline because Of the sustained permiums
OF spots over futures. There was not
much response to the scattered selling,
for traders were afraid of being hurt
and the spot department failed to send
any reports Of easiness. December sold
to 36. Sac in the afternoon.
A crop estimate of 9,400, 900 bales AND
a condition of 46 from the American
| Cotton association, which appears tC
want to set the pace for all radicals or
the bull side, failed to be of effect, ant
the later estimate Of O Chicago firm o.
9,700, 900 bales for the crop was merely
] received and filed.
Spots were not SO active, but there
was nc weakness indicated and the
holders of the better grades were still
able to get what they wanted
\ Futures Chased IL to 40 points off
| tone irregular,
New Orleans closed u to IS points
off; o steady. Spots were UP 81
points, middling to 3S.50c and sales wert
6,746 bales.
Liverpool ACKNOWLEDGEMENTS
Liverpool Is due to come 16 to 2
points.
In the local market quotations wer,
| k~advanced 100 points; middling to 40c.
Sales reported were 2,150 bales.