The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-08-21
ROUND THE TICKER
Cotton,

S~ouragement to put II strongly higher,
ShortS are anxious for profits. The
eastern belt forecast is unfayorable as
u calls for showers in North and South
Carolina, Georgia, Alabama and Missis-
stppi.
New Orleans ,-Msrket advanced ow-
ing advance in foreign exchange and
buying IN theory rains Texas will
cause more damage by insects. Yes
terdays weekly stated rather extensive
damage eastern half OF Texas by Wee
Wis and boil worms, pests appearing
"a western half Of state, Texas crop
tuily three weeks late, and present
rains Texas, heavy west portion, prob
rably result in insects multiplying and
causing damage West Texas In near
future, Meanwhile showers remains
eastern belt With prospects more rain
east OF the Mississippi rtver-To Me
FAN.
Cotton opinions: Carpenter and Co.
The outlook is for a scslping market
around the present level for a while,
Logan-Market seems in a position TO
respond to any fresh bullish occurrence,
Thompson McKinnon-We are still Of
the opinion prices viii seek lower level,
Pynchion-A lower market this morn
ing likely, barring better adviceS re-
garding strike Of steel workers.
Lesser.G oldman's cotton report No. II
is as follows: Southeastern Missouri
Sufficient rains have fallen for our needs
n the crop is doing as we'll as can
be expected considering the very UNI
favorable start. Movement will prob
ably not begin for the next 30 days.
Arkansas-Central, southern, western
and parts Of Northern Arkansas received
rains during the past week and now
have sufficient moisture. Tempera-
lures since the rains have been nor
ma and We do not expect a great
amount Of shedding as is usual with
high temperatures after rains. Eastern
and parts Of Northern Arkansas have
not yet received sufficient rains. Okla
homa-Good rains fell In Eastern Okla !
homa just in the nick Of time and
we now have sufficient rain over all the
state for our needs for sometime to
come. Summary-The crop Is very
spotted and 1t is almost impossible to
form an accurate opinion as 10 the
actual condition, In some sections the
plant Is fruiting rapidly, in other see
tions the plant Is putting on very little
fruit. The recent rains Will probably |
cause some shedding but temperatures
have been just right Tor conditions after
a rain and we think shedding will be
held to a minimum; labor Is apparently
/ sufficient and there are very few re-
ports Of damage due to insects or wee
wills. There will probably be a few
premium bales marketed within the next
WIN VI Y uoto ~ w Wv ~ w |
lieve the movement will become gen
eral until about the 10th of September
or list Of october,
New York,-For months and months !
we have danced to the tune Of infla-
ton and we are now reversing to the
tune OF liquidation, We have sown the
wind and are now rcaping the whirl-
wind, We will have periods Of revived
confidence after good prices losses but
until the foreign exchange situation Is
stabilized 30 that reliable calculations
can be made for export business or
unless we get pronounced bad crop
news the tendency of prices must be
down.-Fallon to Shepard h Gluck.
Grain.
C~hicago-Both corn and oats market
broke sharply when some of the local
pit element who went long started to
sell out. Support was limited on the
way down, Oats dropped ! to INC from
the early high,-o'Brien to McFall.
Chicago-N. Y. wires; Telegram
here says Instructions have been given
that after today no more grain shall be
loaded out Of Buffalo for Boston.
Chicago-Grain Letter: Current news
looks bearish on all u. s. markets. Tho
question Of dragging the world back to
sanity and the old conditions Ia upper
most. The artificial plan Of issuing of
national bonds looks a failure. Grain
bulges are expected, but the outside
buying mood is flabby. The end of ma
tional credits is indicated, The coun-
tries where labor Is too high n hours
too short will finally lose their foreign
trade. England has evidently taken
the grim path. Germany already has
increased her work day to 10 hours,
The day Of paper collateral is gone and
the time for muscle n sweat Ia here.
The New York Times sees the end of
Al -. NtwRA .N-. Lea aIAAlEa AAnnF
LaSahe street people are afraid OF u
bear stock market, Cotton market con-
tinues heavy on the new European
policies. Looks as II Europe has shut
down on our prosperous bulling OF ev-
erything against her desperate poverty.
Looks as II the worlds bankers have
decided against any more national
mortgages. The situation has certainly
changed.
Grain Opinions: Frazier-The corn
market lacks direction. II oats receipts
pick up materially the market QUO
err conditions generally favorable.
Country offerings moderate. Clement
Curtis-Wtth any good trade outlook III
grains will develop a strong tone. j., E;
Bennett--Corn market Is a two-sided
affair. Believe oats will be in demand
on ali recessions. Lamsen-Indications
point to an increased movement of old
corn. Unsettled labor and exchange
markets are bearish factors. Logan
Buyers will have best of argument on
healthy breaks but would not ignore
profits when offered. Simmons Day
If present corn crop promises should
be released prices are apt to seek a
lower level. DO not believe farmers
will be anxious to sell oats unless prices
suits them. Il. W. Wagner-The weak
ness In foreign money Ia an invita-
tion for foreign buyers to work and
sweat and spend nothing abroad,
Thompson McKinnon - We anticipate
an uncertain market pending a more
definite outlook Of worlds financial
situation.
Stock Opinions: Harris Winthrop -
Until steel strike vote known opinions
valueless. Clement urtis-The situa-
ton in Sterling exchange Is extremely
serious. ]. s.. Bache & Gothic final
one Yesterday was weak. Block Ma
loney-Liquidatlon could easily break
out again and rallies should be used
for sales. Hulburd- WarTen-Long lines
are more thoroughly liquidated, breaks
are likely to happen on any bad news,
e. w. Wagner-Feel that we have seen
the worst In labor and foreign exchange
situation and believe that before many
days have passed there will be a more
hopeful outlook. j. II. Bennett-The
public Is awaitlg a more settled condl-
ton generally. Logan & Bryan--Con-
ditions surrounding market have not
altered for the better. ThompsonsMc-
Kinnon-lmmediate action of market