The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-12-10
COTTON MARKETS
Cables Again Reflect Decline
in ExChange-DOmeStiC
Markets Mark Time.
Wednesdav afternoon. nee.

Wednesday afternoon, Dec. 10,
Cables from Liverpool came better
almost daily because sterling rates APP
pear TO have no bottom, declining fur
Their today. The British market thus
discounts the effect Of this feature. but
on this side other factors seem 10 be
getting more attention and there is thus
an absence of bearish effect of the de-
probation in foreign moneys expressed
IN terms OF those OF this country. Ster-
ling rates went lower today than ever
and it was unofficially reported a short
while before the close that sight had
touched as low as S.77ia. However, for
some reason there was today slight ad-
vance in French francs and German
marks.
One of the chief influences on this
side today was the prospective settle
ment OF the coal strike, although trad
ers eagerly awaited some sort of an
nouncement before the close. All the
information from the seat of the con-
ference at Indianapolis was to the eff
feet that there seemed no doubt of set
| Element, but for some reason a lot OF
| talking had to be done and that natur-
| ally kept Conservative people bit anx-
| ious, for the situation in this country Is
getting bad The cold wave, which has
most of the country in its grip, bids
| fair to continue and even with an end
| to the strike there seems small chance
| of the widespread restrictions being res
moved for several days. In the mean
| time there is quite a check to produc-
| ton and this is regarded as certain to
| affect the consumption of necessities
But the trade was waiting today for
| the official crop estimate, due at l
| o'clock, local time, tomorrow There
| also was disposition to wait for the re-
| port on consumption for November,
which Is promised for Saturday. prt-
! waite authority is credited with figuring
/ thig "a n maj the on1nnnf
| for November of last year Both have
a tendency to discourage pressure, es-
| pecially as there seems good reason for
| expecting a bullish showing Friday in
| statistics and the export movement
| soon is expected to be large
Liverpool was due to come rs to %
| points to the bad, but finished steady
and from 16 up to down.
| Private cables said that mills were
calling cotton on contracts. Spots We're
marked up IL points, middling to e. LAD,
with sales 5000 bales, including 1900
| American. Receipts for the day were
$4,000 bales, including 26,600 American,
First prices on this side were steady
| and slightly higher but some profits
| were taken and little short selling
| done because of delay in strike settle
| ment ad deprecated exchange rates,
| March in New York opened at 34.4O, 5
4 points to the good, but dipped to Bale
4 and then worked up gradually until $3.50
was touched. For most of the day the
market backed and filled and trading
was small and without positive trend.
1t was steady in the late afternoon
In the spot department business is
restricted, but the waiting attitude pre-
walls there also, although some wires
are telling of prices being lower and
some grades almost being at tender
able basis.
Futures closed 25 to 50 points up,
tone steady,
New Orleans closed II to rs points up,
tone steady. Spots unchanged, mid
ding at 40c, with sales 1888 bales.
Liverpool is due to come to points
, up.
In the local market sales were 1,75t
bales and quotations were unchanged,
middlng at 4oe,