The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-09-11
CROP SUFFERS;
TOO MUCH RAIN
Nearly Entire Belt Gets Soaking and Some Districts
Have Floods-Shorts Nervous and Near Months
Increase Premiums-Britsh Coal Strike Threat
ems.

as to whether cotton can fail to share
in the expected deflation Of prices III
nearly every direction which many stu
dents of economics believe will continue
indefinitely.
There Is no denying that deterioration
has been considerable In nearly all OF
/ the belt. but just how much only the
future can determine. The rains were
heaviest In the Memphis territory al
though portions Of Texas. Oklahoma,
Louisiana and Arkansas also had lib
| eral downpours. Complaints tell OF
damage from boil weevil, boil rot, she'd
ding and kindred things, while frost
date is given increased importance on
account Of added lateness. Interrupt
ton to picking and damage TO grade
troubles Of spot interests, especially
those who had sold ahead. The usual
midmonth condition guesses will prob
ably give some idea OF what opinion
is of the damage done. although time
alone will afford accurate information.
They are due at any time,
Trade Situation Same.
From trade circles came little that
was of especial importance and bulls
found small help from that direction.
However, 1t seemed that the worst side
OF the picture had been painted. =
In Great Britain the spinners faced
the uncertainty OF strike, called for
| Sept. q. but there continues hope that
such will be aVerted. as the blgness
OF the consequences naturally lessen
chances OF IL being pulled off. The re-
turns from the British board Of trade as
to exports for last month made rather
bad showing, though perhaps entirely
in line with recent advlccs AS to less
ened activity, There was little imp0r-
tation of raw material At Liverpool SO
stocks We're reduced, although forward
ings TO sninners were moderate. AZ
fairs on the continent seemed to be
working along more favorable lines,
though this all failed 10 get much no.
tiCe while the trade was 50 much con
cerned over the weather. and its effects
| on the crop in this country.
In domestic manufacturing and dis
| tributing circles developments We're
without startling feature, Resumption
of running by some Of the mills after
Labor day and opening up OF lines at
lower prices failed to be very impress
sive and advices do not yet indicate
that the public is disposed TO buy free
ly There is less pessimism in the air,
perhaps, but nothing yet TO suggest
that any important relief from money
stringenCy Is to be expected soon. The
chief change is that expectations for
lower levels are lessened. II remains
10 be seen whether there will be suf-
ficient basis for any bull movement
Between now and the coming OF kill
ing frost the fate OF much OF the crop
will be determined. Where the weevil
is plentiful, however, frost date is OF
no consequence. as that pest is taking
everything and will do so. although the
right sort pf weather must be had for
new fruiting to be- had now. To what
extent yield expecteion has been al
tered no man can say, but II is under
way and some people are expecting II
to continue However, should frost
hold off long enough and there be plen-
~ of sunshine time Is left for a lot
OF offset for some of the damage that
has been done,
Much interest is also felt In how re-
cent weather has affected the quality
Of the crop. for that is going TO be i'm D..
portant in its bearings on the course of
speculative values. Should the crop
turn out one OF low grade, with the
large amount carried over from the past
season, preparations might as we'll be
made for some sensationally high prices.
as the character OF contract would
make such inevitable The next few
weeks will be Important In shedding
| light on this feature.