The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-03-18

.queezinu Of Shorts Continues
But New Features Few.
Rains in East Belt.
THURSDAY afternoon. March IS.

Thursday afternoon. March IS.
The job OF squeezing the shorts in
be old positions continues the feature
81 the speculative cotton market, al
aough the new ones share in the up
urn and also went higher today than
my previous time. Strength was the
harked Characteristic OF the market,
ut more talk Of the rise being near
he eliminating point was heard and
apparently opinion Is leaning more 70
he view that a reaction Is due, How
ver, there Is little sign Of selling, ex-
sept for profits, as the bullish fever
Aas not diminished much and the ease
&gith which prices have risen has stimu
hated some outside buying.
One help to the rise today was the
buoyant stock market, prices there go
Ing up rapidly and contributing to the
general initiation Of everything. In the
Grain markets the tendency was also
upward, although In the early afternoon
home reaction came when II was re-
Borted that the grain corporation head
had recommended allowing Canadian
aats TO come into this country free Of
duty.
] The money market was without par
aicular change, call rates being around
q per cent and the exchange quotations
Varying very little from last night s
elosing. The state of affairs in Ger
many was stil nebulous, but seemingly
4CT no Specldl HOIneII 10 LnOse uuHlildl-
hing the course of values in the market.
lThe fact also that reports from the belt
Nell of no betterment to spot demand
resultant from the rise in contracts
also failed to check the disposition to
sget from under as soon as possible. The
report that a recount of the certified
5stock In New York showed only 1,24S
bales merely helped to emphasize the
Autter helplessness of those who are
sBhort.l for it is out of the question to
shope for any relief foe this season,
Liverpool this morning came better
than due, although she improved after
the early session Finals were Al to 1s
points to the good, with tone called
STEADY. Spots were marked up AZ points
lfully middiing to 29.64d, with sales
II, 900 bales, including 4,500 American
IReceipts were 5000 bales, including zoe
kAmerican.
In addition to the cable news and
Nsome optimistic feeling as to interna-
ItjonaI affairs, was some bad weather in
fthe central and eastern part of the
nbelt, general rains having again faller
lover Alabama and Georgia. The rest
zof the belt was cloudy and moderately
Awarm but the bad features were giveT
tlattention, for there is widespread
fIdea that the start of the crop Is serl.
pussy handicapped. Forecast was FOL
/ eooler and some more rains in the up
i per eastern belt, but elsewhere for jus
s6loudy to fair, but this failed to make
Ihny material impression.
ID In New York May opened at 37Si
Hand 1t sold up to 1926 after a time
but reacted and touched 3S,0S, whel
home profits were taken. July opened
ut 34.95, touched points lower anC
Hkhen sold as high as 35 As, but reacted
blightly The fall months only gainet
iIAbout half as much as did the others.
gs Exports for the day were fairly large
Increasing the season tots! to owe
hi 800, 900, while indications are for sucl
Ito continue. In the spot markets bust
me s is spotted and the kinds that are s.
lbl ltiful are moving slowly and a
lbr yes no higher than they were whei
lfutures were several hundred point
Hover. The final report on ginning
Hue at the opening Saturday and expec
Ifations are for it to show around II. 200,
slN00 bales. The weekly statistics to
fIhorrow are counted on to make an
lother bullish showing.
HI Futures closed off to As points VI
Hone steady,
II New Orleans closed to II point
Higher, tone steady. Spots were un
slNhanged, middling at Ale, and sale
slMere 2,027 bales.
N# Liverpool is due to come 4 points Of
no unchanged.
II In the local market sales were LEO
ibales and quotations were unchanged
8lmiddling at 1880.