The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-04-05
SPOT DEMAND
SOME BETTER
Liverpool Sales Increase and Low Grades Selling More
Freely in the Belt-Political Situation Continues
Confused-Weather Is Fairly Favorable.

Manchester. Coming on the heels OF
the -nnouncemen that Manchester
mills using American cotton would soon
close down for a period ef W weeks,
Induced according TO press reports BY
the poor state Of trade, this activity
was unexpected. LAS stocks over there
are limited. il was natural that do
nestle people expect that increased de-
mand to be reflected very quickly in
the belt. and il has been already to
some extent. The development has
suggested TO q few observers that part
az the extreme pessimssTu reported from
British circles has perhaps not been
without selfish motives, as Ii "A not
entirely assured that the Southern hold
ers would not at last grow weary Of
waiting, Some rise in British consols,
the government security, and a firmer
feeling and higher prices for sterling
also reflected better feeling over there,
So far as can be seen there has been
no change of policy among domestic
spinners as to buying raw material.
They seem assured, in their own minds
at least, of their ability to obtain their
needs Of raw material at prices to
their liking, relying apparently on fail
ure of the SOuth's efforts to cut the
production sufficiently. The reports as
to business with the mills have been
fairly satisfactory, but prices without
particular change. The feeling of un-
certainty CALCULUS 10 IlGlu DIS II uONH III
nearly every other direction and the
ample supply of raw MATERIAL in their
own hands and in the South has evil
IDENTIFY made them feel secure.
News during>the week hat the larg-
est group of mills at FAN River would
OF Monday resume full time operations
was encouraging. and may reflect some
progress from the state of lethargy so
much complained of. However. they
are all showing small interest in get
ting spots, and the takings by %spinners
show that the mills are either not turn
ing out much stuff or they are working
on stocks already bought and in ware
houses.
Interest in the new crop increased and
the time is about at hand for weather
to assume the leading role as an tnflu-
ence. The acreage question Is still an
open one. but Indications are for con-
siderable reduction. One large spot
concern, which makes a specially of
statistics, announced Friday that its re-
ports pointed to q cut Of 1876 per cent,
while another report, made to the heads
of the organized movement to reduce
the crop, said it would be slightly over
30 per cent n that the use of fertil-
izer would be cut fully half. The next
few aeeks will go far toward determin-
ing how much the reduction will be,
but there is no doubt of it being large,
There Is no let-up in efforts to have II
done, while the firmness in the prices
for all necessities, especially grains and
provisions, affords extra incentive to
raising as much of them in the belt as
can be done.
The start is admittedly late, but dur
ing the past week conditions were per-
haps about a stand off. Too much rain
fell in some sections, while tempera-
lures were abnormally low, but the in
terruption was not considered serious
enough to start a crop scare. Planting
is getting under Roadway, although
first efforts will be toward getting a
big crop of corn seeded. The labor
situation is about the same, with search
ty complained of in all directions, The
only hope held out as an offset is for
Increased use of machinery.
The spot department will share hon.
ors with weather as the dominant influ-
ence for some time to come, The
course of prices will depend in a meas
ure on how the latter turns out, al
though developments abroad will also
be very important. During the past
week sales in the local market were
14,500 bales, the largest business for
one week in a long time. 1t cut down
| the unsold stock to 242, 900 bales, which
| compares with 1877, 900 last year. Mid
| ding here is quoted at $500, a drop
of 25 points for the week, but reports
had it that most of the business done
here was at almost sacrifice figures for
the low grades.