The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-08-21
ROUND THE TICKER
Cotton.

NEW ORLEANS, La. Aug. zl,-
Weakness OF spots in Southern mar
kets. continue hedge selling and liqui-
cation were again the causes OF the
weakness In the market yesterday.
Foreign political news, which so great
" aided the decline until very recent
" have changed much for the better
but for the moment all such influences
are lost sight of. Even the showery
unfavorable weather and numerous re
ports of crop deterioration attract but
small interest, owing to the belief
which seems to have gone abroad that
the crop now maturing viii be ma
terially larger than any of the five
preceding crops. The present outlook
In Texas is for yield of about 1000, =
900 bales larger than last year, pick
ing Is general in the southern portion
of the state and Is commencing in the
central part, consequently receipts are
increasing and running ahead Of one
year ago, Arrivals at Houston for the
week $4,000 against S.000 last year.
New bales are appearing in the lower
portion Of the Mississippi Valley and in
South Alabama somewhat earlier than
last year, indicating the crop to be
earlier than generally supposed. with
prospects for a larger production than
last year. Alarmed at the rapidly
with which the market is declining, 1t
is rumored that the Texas Bankers
association will launch holding move
HlBIt, as lnSN ulQ III 1919 ipT tue pui =
pose of obtaining for the farmer a
fair price for his product commensur-
ate with the cost of production. and it
is expected that other state associa-
tons will be requested to take the
same action.
New York Searching for some fea-
lures favorable to prices does not meet
with much success and what few there
may be completely ignored. The slo-
gan Of the moment is stop your losses
and liquidate as deflation is at work
the world over. The mills are not
buying. being unable to sell their pro-
duct-in fact in some cases are re-
selling cotton either previously bought
or hedges previously acquired
The South is selling heavily against
incoming crop movement and with be-
lief that after ALL the crop is develop
ing favorably. True the foreign situa :
ton is improving and some claim that
the weather conditions are not favor
| able for plant and rumors were in
circulation that a bullish National Gin
ners' report would be announces at the
end of the month. but 1t all goes for
| nothing when longs are facing losses.
-Falon.
New Orleans.-Danger in short side
market at these levels is possibility of
wet weather continuing in interior,
perhaps coming of a tropical storm,
| the season for which is at hand, may
future. Rather unsettled weather, low
| temperatures indicated nearly all belt
| over Sunday New York wires: over
night Southern selling orders well ia
ken at decline. Market has pretty
steady tone. Depends now largely on
whether short interest begins covering
Beer to McFall. u
St. Louis.-Arkansas, Southeast Mis-
| souri, and Oklahoma summary We now
have sufficient moisture to carry us
until crop is picked and it is almost inn
perative that we have long period OF
| dry, warm weather to prevent fur
| Their shedding and worm weevil dam
age The labor situation is about the
same as our last report. although some
| farmers fear there will not be enough
| to pick crop If We should have further
| bad weather,--Lesser-G Goldman Cotton
Co. to McFall.
Philadelphia Rainfall has been
more or less excessive and While oil
| benefit in south central portion OF OK
| lahoma and portions of West Texas
elsewhere it is causing plant to grow
rank and sappy Crop continues tC
make good progress generally but COM
| plants of bedding and of weeNll ac-
| tiVity are increasing, particularly IN
| Southern belt. Boil worms are pre-
valent in portions of Texas and are do
| ing some damage Grass or cut worms
| doing considerable damage locally
both in Mississippi delta and in East
ern Arkansas. Crop has reached crltl'
| cal period and deterioration Is in eVi-
dence in Louisiana, East Texas, South
| ern Arkansas and portions of Missis-
| sippi, Alabama and Georgia. A period OF
| Gear, warm weather is now essentia
| over the entire belt-George Ii. Nc
tadden & Bro. to McFall.