The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-03-04
COTTON Markets
.bIes Much Better Than Due
Ind Short Covering Free.
Cold Wave BulIiSh.
Thursday Afternoon. March 4

Thursday Afternoon, Marcn \.
butte q comeback in the Liverpool
.rket, attributed in part TO a seven
L rise overnight in the price Of
|yptian cotton, helped make fresh
|uble for shorts on this side AL
ugh the March position did not do
much, most Of the shorts therein
ing gotten out, and May was less
|npant than yesterday. attention was
med TO July and October, which po-
ons advanced more than the rest.
was said that Liverpool was buying
Y freely, while support for the new
|p positions was inspired chiefly by
/ her interruption to crop prepare
has by the unfayorable weather and
aspect Of a cold wave sweeping al
st entirely over the belt.
kfter new highs ! Sd been recorded
the crest of the buying seemed
ched for the time being a limited
cunt of liquidation came, resulting
a moderate reaction. 1t failed to
much hope in the breasts of those
are still short or who might per-
)s have been clinging TO the bear
e. 1t was due entirely to the accept
,e of profits,
The weather map showed some rain
5r part of the belt during the past
hours, but this morning the feature
~ the fact that a cold wave had
eady entered the upper western belt
h indications were for it to extend
the gulf and sweep eastward, pre-
He'd in the eastern belt by rains.
ere was some general buying of the
months on this, together with the
{ that discounts on them are so
ge.
Another factor helping to stimulate
fhof OF rot
n and higher, demand being as high
4 $3.50 in the early afternoon. Ad-
es continued to tell of preparations
extending more favorable terms to
rmany for the resumption of busi-
5s although one report had it that
lnce was baking on some of the
Inns. The stock market was stronger
FLAPS helped by the failure of dis.
int rates to be raised on both sides
the ocean.
Liverpool was due to come 10 to 2;
nts up, but finished steady and g.
Al up. Cables said improvement wa
efly due to the failure of the Banl
England to raise the rate and to tn,
,overy in Egyptian. Spots wert
lrked up 81 points, fully middling t
Zoo American. Receipts were 500
les, including 24,500 American.
First prices on this side were strong
because of good cables, the weathe
tp and indications and higher ster
liz, together with continued covering
the shorts The fact that certificat
stock in New York is but $500 bale
d there Is no chance to increase
hmed to inspire fresh uneasines
bong the shorts, May started at $50
d up to 36,24c, dipped to $3.50 an
Yin went back up to S625c befor
Acting in the afternoon of realizin
d subsistence of short covering. Jul
the same time started at 329Sc an
d up to 33.40c in the afternoon an
Id relatively steadier than did May.
News from the spot department wa
arce, although one wire from Texa
d of some fall business having bee
Ioked at big basis. Exports fc
e day were none, but the expects
Pn of cheaper ocean rates is encoul
ling holding of the unsold part of ii
Mp.
Futures closed ~ points off to rs VI
ne steady.
New Orleans closed II points off I
up; tone steady. Spots We're W
Hanged, middling at 4O,5Oc and sal,
kS7 bales.
liverpool is due to come 27 to
ints off.
I'm the local market sales for the ds
Ihre 1850 bales and quotations we
changed, middling at soc.