The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-03-16

arket Steady and Higher
Helped by Better Feeling
Regarding Germany.
ruesday Afternnnn -

tuesday Afternoon, March is.
More optimism regarding the situa-
lcn n t4ermany was given credit for
much Of the strength In the cotton mar
ket today, although the probabilities
are that this was more an excuse than
eason. Sterling rates were higher
yet Liverpool was considerably better
man que. weather conditions In the
beli we're not bad By aay means. but
such tailed to have much effect. There
was some liquidation. but Il failed to
make any large impression on values
ana the same sort OF support so con-
spicuous recently was in evidence.
Trading was largely professional and
trade interests were absorbing offer
iEgs freely and thus Tightening the sit
uation for him who Is short OF looks
with favor on that side.
I Liverpool was due to come higher hy
IL TO II points, but was much better
than that early and held most of her
strength to the end. There was the
influence of reports that the revolution
Iin Germany was abortiye and that
chances favored retention of the gov
ernment. which lessened fears and en-
Tabled other factors to, assert them
lseives. Much of yesterdays pressure
lhaving. been based on the possibility
lot eivl war in Germany and possibly
ION the allies having to take a hand in
lorder to enforce the treaty terms, there
iwas covering by these interests today.
Finals were steady and from As to SO
points to the good. Spots were marked
up ~ points, fully middling to 29.52d,
With VT sales Of 5000 bales, including q
soU American nI lean Receipts for the day
were $4,000 bales, including 24,70O
american. Manchester advised that
cloths. We're quiet and firm and yarns
were hardening.
First prices on this side were steady
ana higher in response to cables and
overnight news from Germany There
was also a higher exchange market,
which reflected better feeling. The
statement from the French premier that
his country expected to pay every cent
ldue this country, but only wanted time
for recovering from war effects, also
simulated confident feeling. The stock
market was firme and higher on the
foreign news. and this reached into
cotton. May opened at 37.35, a new
thigh. sold up to 37.44 July started at
l34.4O. touched 3451 and then eased off
some when profits were accepted. 1t
lterests sold rather freely of May, but
liz reacted only moderately. Gossip had
lit that the market was not getting the
same. excellent support recently, but ii
certainly did not act weak and sellers
EWere very careful The reaction did not
last and in the afternoon the list stood
Iat moderate gain for the old months
Iand the new were around the previous
Iclosing level.
II The weather map showed little or no
Irain for the past "a hours and the
Ichances did not seem very good for
|much, except for some showers in the
Central and Eastern sections. Cooler
ltemperatures for the belt were indi-
Icated, and on the whole there seemed
EEeason for expecting better reports as
1to progress of farm work
Spots were generally steady and some
fluctuations higher Dallas wired that
Isome buying was being done there for
|lGerman interests, while Galveston said
1.-Two vessels were due there for loading
cotton for Germany, the first since the
WAR. Business generally was spotted
land holders independent.
Futures closed Is points up to 10
down. tone barely steady.
n New Orleans closed ~ points up to
10 down, tone steady. Spots were I'M
changed, middling at 4ic and sales were
,539 bales.
Liverpool is due to come to points
lower.
In the market sales were 1900 bales,
Hand quotations were unchanged, mid
Hdling at 405Oc.