The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-05-13
COTTON MARKETS
Market Higher Early on More
Hams, But WeakenS on Pros
peCt of Better Weather.
Thursday Afternnon Mar

nuns 'oS AFTERNOON May 10.
CniaVorabie features DIN the weather
news stimulated an upturn in prices
early today, but economic conditions
ottered basis for some resistance. which
checked the rise, and later moderate
Leactlon came. The latter was based
hiiainly on indications for more favora
PIE weather, as the wet spell seemed to
De passing out of the belt. Pressure
was discouraged, however bv the seri
BUSINESS OF injury already done and ex-
Pectatloh OF bullish census report on
april consumption in the United States.
when Is due to come at the openinp to-
morrow morning.
Flnals in New York were barely
STEADY and to IL points to the had
, WINE New Orleans closed steady and
40 points off to 10 up
Liverpool should come IL to % noint :
lower tomorrow.
Rains during the past "a hours were
Cnletly in the upper central belt, al
mo tbbousR nr,n IT was raining far down into
w., ny misslsslppl valley section this
morning and adding TO troubles they
are already experiencing. The heaviest
uoWnpour was in the northern section
OF Alaoama, while it was also raining
III Georgia, The forecast promised more
rains for the central and eastern belt
but with fair and some cooler 1t was
cooler IN Northwest Texas this morn
ing while they had no rain during the
past "a hours, The character of crop
accounts was very much the same as
tney nave been, except that today We're
ADDED reports of the boil weevil hav-
ing appeared already in Louisiana and
Soulnefh MISSISSIPPI. The approach of
ne 'line Tor making up the first cond-
LloII report Will naturally discourage
pearlsh operations, as Z it seemed as
low, WI w q0'e
Economic conditions are still cause
OF concern, although the advices that
the strike is to be avoided in New Eng
lahd because of wage increase of Is
per cent on June / tended to encourage
sentiment. However, the repOrts of
lurthef cancellations and of resistance
10 paying current prices are having
Widespread effect on sentiment. Money
conditions are no better mad promise
no relief any time soon Advices from
Great Britain also seem to Indicate that
conditions over there are similarly af-
tected all Of which means that spin
ners VIII probably be slow about buy
ing ADDITIONAL supplies of raw material
Liverpool came better than expected
presumably influenced by the character
of crop accounts from this side. finals
being II to 80 points net to the good
Tone was called very steady. Spots were
marked up - points, fully mddling to
2179 with sales 5000 bales, including
$500 American. Receipts for the day
were 1900 bales, including 1900
American.
First prices on this side were slightly
higher for nears and up more for the
distant, the latter affected by weather
and crop news, July opened at $500
and sold as high as 3S. 45C, then grad
ually reacted to 3S,O2c right around the
close. October started at 36.1Oc rise
over night of u points, worked up to
36,50c, and then eased off on absence
Of aggressive buying and some selling
based on the news from mill centers
and prospects of better weather Short
" before the close it sold as low as
359Oc
In the spot markets business con-
tinued light and quotations were un-
changed to slightly lower, Memphis
made no change and sold $50 bales. New
Orleans remained the same and sold
1,274 bales, while Augusta sold $50 and
made none, Dallas unchanged and
sales sos bales, but Houston cut the
price % points and sold 58l bales In
Mobile sales were l,l4l bales, with mid
ding at 40.50c.