The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-09-20
COTTON MARKETS
Fear Of Gulf Storm Helps to
Encourage Covering, But
Weather Still Good.
Monday afternoon. Sept.


Bulls have at last found basis for
playing on the fears of the public
through equinoCtial storms, as the gov
eminent weather sharks have discovered
one OF them playing around in South
crn waters. Other matters for the time
being have gone into the discard. and
Probabilities are that the gossip writer's
for several days WIN regale their ellen
tele with guesses as 70 the storm. The
government author,tiCs issued warn
ings but as yet have found little def
mite prospect, SO the whole thing may
blow over In day or so, while there
is possibility OF visitation OF wind
and rain. In New Orleans there was
naturally more response to the storm
talk than In Now York, being acarer Ia
the source of the news, but in neither
center was there disposition to do any
thing very large.
Finals were easy and from 20 to As
points up in New York. while New Or
leans finished steady and rs to 90 up.
Liverpool should open unchanged TO
IL points to the good tomorrow to make
full response.
In the foreign center this morning
depression seemed to rule, for no con-
firmation came TO the adViCes that the
coal strike had practically been set"
tied. Most cables referred to the mills
closing down and to poor trade pros
affected by a poor monsoon, At the
close the list OF options was 60 to 10
points net to the bad, whereas to
down was due. Spots were marked
down 40 points. fully middling to 2S.0Sd.
with sales 1000 bales, including $500
American. Receipts for the day were
5000 bales, but none American.
First prices on this side were lower,
chiefly because of poor cables and very
little optimism as to domestic trade
conditions. Moreover. there was an en-
tire absence of rainfall in the belt over
Sunday and the weather map held out
prospect for continued good conditions,
except insofar as 1t reflected posi-
bility OF the threatened gulf storm
&, working inland within the next few
days. October started at 80 points off.
at 2S,25c. while December opened 20
pooints off at 25.5Oc, They touched
2s. zoe and 25.3Sc, respectively, when
the storm talk got under Roadway, Rc-
compRnied by coverinv by shorts. Oc
tober did not do anything very big,
but sold as high as 80 cents just before
the close and then dipped slightly, De-
cember at her top was JusS 100 points
over the lowest OF the day, or up to
26.3Sc. but also reacted before the close.
There continued TO come some very
startling reports as to the rafages OF
the weevil but such seemed but sec
ondary to the possibility OF a storm,
However, tho feeling that the coming
reports on condition, which will include
only five more days, viii show heavy
loss In condition. tend TO discourage
beArish sentiment and selling.
In the spot department changes were
small and volume of sales about equal
TO that Of the past few days More
advices tell OF resistance to efforts to
buy at over levels, but opinion differs
as 10 how we'll the market viii absorb
offerings after September commitments
are satisfied and tho movement picks
Tnp. Weather lis excellent for opening of
the crop and for picking.
Sales reported were SO39 bales at
Houston. without change in Prices, mid
ding at 2S.50c: in Dallas they were
7, S04 bales and middling was elevated
SO points to 81 35c. New Orleans made
no change and sold Gil bales. while
Memphis did some more price adjust
ing, cutting, middling and above so
points, but sold only rs bales for the
day. Augusta sold 442 bales and mid
ding was down Is points TO 3ic.