The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-05-06
COTTON MARKETS
Manchester Strike Avoided
= and Cables Better, While
More Rains in Belt.
Thursday Afternoon. Man

Thursday Afternoon, May 6.
Cable advices from Liverpool that the
wage differences at Manchester had
been settled and there would be nc
strike. together with more rains in the
wet sections of the belt and practically
none in the dry gave strength to the
market today, although some straddle
business resulted in narrowed differ
ences between the near and the distant
months. Sentiment continues favorable
to the up side, for there is little yet
TO lessen concern over the new crop
outlook. Absence Of visible weakness
among those who are holding spots ap-
pf7rs to discourage bearish feeling based
= on lack of demand.
Finals were irregular with tone steady,
but New York "a points off to IS UP
and New Orleans 35 off to 81 up.
Liverpool tomorrow should omen 10 to
points to the bad.
Trading was not large at any time
ana influences are pretty much as they
have been. There was talk of prob
ability of cotton reaching New York
nor tender purposes, but this was based
'on nope of settling labor troubles in that
port as theIs are at present only a
couple of thousand or so bales in stock
IuDlcauon of story from a large
western distributor of goods that radi-
cal cuts had already been made in silks
Niiu Nlil illlo was likely 10 spread
other fabrics, together with cable ad-
vices Of unsettled conditions in Japan
ana OF generalization in the silk mar
ket there, helped to lessen support in
the near months. This latter bit OF
news was given credit for encouraging
some of the pressure in the market in
the latter part of the day, although it
failed to offset the weather news in
sofar, as it applied to the distant
months.
Liverpool was due to come unchanged
to IL points up, but closed steady and
from II to rs points up. The news that
no strike would be had was the chief
reason for the strength, as cables said
the mills were likely now to be freer
buyers Of the actual However, the
probabilities are that crop news from
this side also was a factor Spots were
marked up as points, fully midding to
2759d, with sales 1000 bales, includ-
ing 3,4OO American. Receipts were o.
900,
Opening prices were mixed in the
DOMESTIC, markets July in New York
being off and October up Is points.
The weather news was rather bulish,
more rains reported from the central
and eastern belt and but little from
Texas. However, later it developed
ones, though not in sections 18th that s9 are
suffering, while those east of the river
were not generally heavy. The indica-
tions We're for little chance of mois-
ture in the western belt and for more
showers eastward. which stimulated
support. October sold up to 36.80c and
July to $3.50, but some profits were
taken and later the straddle operations
became more prominent. October
dropped back to 3646c and July to
SS.22c a short while before the close
From the spot department came lit |
tie that was new. In the local mar
ket business is almost nothing, sales |
being but $50 bales, although nearly |
3 1000 net were received. New Orleans |
did fairly good business, selling 2,494 |
bale3. with middling unchanged at |
40.25c. Augusta sold 1924 bales and ell |
evated middling II points to 41c. Hous- |
ton $50 and Dallas S32 bales