The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-01-30
COTTON MARKETS
Market Continues Without
Positive Trend, With Belt
Weather improving Some
Friday Afternoon, Jan. so

AtluMF gAtNEl ssANlla JAN eAa
IN spite Of the fact that no improve
llent was noted in money market con-
ditions, there was another day Of
steadiness in cotton and prices held
practically unchanged. The weather
map also showed better conditions, but
this also failed to snake loose the hold
ers and the result was practically stag
nation for the time being. Trading as
usual was small and without feature,
and II was the ConcenSus OF opinion that
one OF the chief reasons for the alb
sence OF weakness was the attitude OF
holders and the big discounts OF fu-
lures compared with spot prices, there
being but little contract cotton left.
Liverpool was also without much fea-
ture. although one cable said that the
mills were facing some stiff demands
at the hands OF labor. The cable said
that wages were going TO higher prob
ably, but hardly at the 100 per cent
above those now being paid leaving
aside the bonuses. II was the opinion
of the sender OF the cable that differ
cnces would be adjusted without a
strike for conditions with the mills
are such as to leave them no recourse
but TO make some response 10 demands.
Silver metal was down slightly, but this
proved a small influence apparently.
off to 5 up, Spots were marked off
IS points, fully midding to 2g.56d, with
sales 5000 bales, including $500 Amer
lean. Receipts for the day were $4,000
bales, including $4,000 American Man
chester advised that cloths were firm
and business In yarns moderate The
forwardings for the week from Liver
pool were 5000 bales. American, com
pairing with 81. 900 last week. but eX-
ports to the continent were ~ 600 bales.
At the outset domestic prices were
slightly TO the bad, rejecting lower eN-
change. better weather and expected
effect bearishly OF the influence OF the
statement from Secretary Glass that
helping Europe's financial needs should
be done by private individuals and not
the government. March started at
$4,000, and after touching points high
err. II dipped to 36.S5c, which proved
low, after which support from trade
interests and lack OF offerings sent the
price up TO $500, There was little
snap 70 support, however, and no news
10 encourage trading, so the big part
OF the day saw prices keep within
very narrow range and around last
nights finals. There was anticipation
Of bullish weekly statistics, but this
failed 10 offset other things that dis
couraged buying. among which was the
high call money rate, is per cent being
reported in the early afternoon.
The news from the spot department.
was colorless, except that business was
confined almost entirely TO the better
grades and specialties, which are very
scarce What will be done about the
low grades and short cotton remains
to be seen, but at the moment they
are not wanted apparently.
Futures closed TO points OF, tone
steady.
New Orleans closed l to i6 points
lower, tone steady. Spots were UNI
changed, middling at 80 Ssc, and sales
were 1879 bales,
III the local market sales for the day
were 400 bales. making 1900 for the
week. Quotations were unchanged, mid
ding at t0,s0c,
ESTIMATED stock in tho hands Of fac.
tors here total $4,000 bales, compared
with ga 900 last year and $4,000 in
1918. Linters In stock are $4,000 bales,
compared with so, 900 last year and H.
600 in 1918.