The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-01-05
COTTON Markets
Liverpool Continues the Bull
Center and Scores Sharp
Additional Gains.

Monday afternoon, Jan. 3.
Gables from Liverpool are awaited
each day with increasing interest, tor
there is the fountain OF inspiration for
most OF the activity in the domestic
markets. Bullisn fever we there
seems undated and finals today, even
with a hurried dip just before the close,
were wed above what was expected.
The foreigner seems to be willing TO
pay any plice necessary TO get the kind
OF cotton necessary and one report to-
day said that some buying for tnat d.
reCtiOn had extended to lower grades,
1t was reported in the local market to-
day that considerable cotton mad been
sod over the weekend from here to
Liverpool. although the prices abroad
are not yet high enough, according TO
some authorities, to allow sufficient
shipping parity.
Llverpoui started out much better
thon uue ana Tor d time the nearby pO-
sitiUns were over 100 points sterlng
above the previous ciose. Ihe market
was due 20 to ~ points to the good.
Inc mark. here held steauy until just
before the close, wnen some leallztng,
perhaps Iqr Manchester account, CAUSED
a drop, which lett the list steady II
only ~ to bJ points nets to the good.
Private cables said part Of the strength
was rejecting the rise of over 200 polhts
in Egyptian. Other cables said the APP
petite for raw material had not been
filled and that the expected signing OF
the peace treaty by Germany was hav-
ing stimulating effect. Spots were
marked up 81 points, to 20. IS for mid
ding, with sales 10000 bales, including
$500 American. Receipts were $4,000
bales, including q, 600 American.
First prices IN the domestic markets
were firm and higher In response to ca
bles. but not up as much as due. March
in New York was SIC, a rise OF 20 points,
hltt nftnp uninu tn NJ 1l nHnfit2 were
taken and some reaction followed. There
was said to be buying for commission
house n Southern account, While some
other speculative buying also was not
ed. The tightness of the money mar
ket and reactionary trend in stocks
helped encourage some weakness
March dipped to 1855, but there was
no selling OF consequence, for spot ad-
vices from the belt were all good. Some
of the people who haVe been following
the rise closely expressed themselves
as favoring a conservative policy for
the time being, advising buying only on
dips.
The spot markets were without spe-
cial news, except hat New Orleans
wired that prices were higher there and
business satisfactory. For a time the
January position there was high enough
to invite selling against the actual,
which brought some weakness, but with
spots reported higher to sell such were
quickly discouraged. Exports for the
day were heavy, Galveston cleared
something like SO, 200 bales, reducing hSr
stock to less than last year, the first
time in many months such has been the
case. Other ports are expected to clear
a lot during the next few days,
Futures closed 10 to n points up, tone
steady.
New Orleans closed unchanged to adj
vance Of 55 points, tone steady. Spots
were Is points up, middling at Ale,
with sales 1914 bales.
Liverpool is due to come IL to 10
points lower.
In the local market sales were $500
bales and quotations unchanged, mid
ding at 40.50c.