The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-03-27
MARKET is QUIET
AFTER ADVANCE.
March Shorts Severely Punished and Reaction Follows
Weather Is Better But Still Many Complaints.
Sterling Firm, But Exporters Doing Little

reports have II that more gold Is COM
/ ing IN this direction Exports for tho
! week were ISL 600 bales making the
! season total 5.bl2 zoe but more than
! likely financial ARRANGEMENTS for such
/ We're made som" time ago and recent
| offerings Of bills must have been less
| The quotation for demand sterling on
| Friday rose 10 81, which compares with
an extreme low 81 So -, made the first
/ week Ia February. The effect 81 this
much improvement in the purchasing
| power Of the British spinner, approx
mating II Per cent, has So far proven
! only "a potentially. Private adViCes
| have not Indicated that they We're dis
posed to distribute any new business.
being we'll protected as they are with
stocks on hand. in Liverpool and en-
route, The domestic spinner also shows
no disposition to renew his buying, he
also being in fairly good shape, with
stocks larger than at corresponding
| time last year.
The unsettled state of affairs In Ger
many disCoura ged immediate prospect
Of that country doing much, which les
sened hope OF the low grades moving.
but reports from the belt did not indi-
| cate that holders Of them were getting
discouraged to the extent that they
would cut prices much.
The big discounts AT which the dis
tant months were selling seemed TO
| scare off sellers Of them The start for
| the new crop Is admittedly late and the
| time has not come when big crop cal
culatiOns can be made.
Labor conditions are complained of in
practically every district and many OF
the bulls claim this VIII prevent tho
expected acreage increase, The general
assumption, however, is for an increase,
Texas Rains Welcome.
The rains which fell in Texas ar
forded some relief, though in the north
eastern part of the state they were not
favorable. being rather too heavy and
further delaying crop preparations. In
Oklahoma they put the the soil In good
condition and enabled a start to be
made on seeding OF grain crops. over
most OF the central and eastern belt
start had been made In work, but
some delay will result from the rains
The incentive to planting feed and food
crops continues, but prospective high
prices for cotton, as indicated by the
new crop levels and the extreme
scarcity of good grades, will no doubt
be powerful lever for larger area to
cotton
What the attitude Of spot holders will
be If the present dullness continues long,
time alone will determine. but this Is
not expected to affect the price OF
contracts very muck. Tightening Of
vent speculative buying OF spots, even
II prices become attractive. so it looks
like the man who holds them now win
simply be forced to wait until buyers
appear. That the mills viii be forced
sooner or later to take most of them
seems reasonable, In the meantime
there will be considerable influence felt
from the sort Of start the new crop
gets and developments in the old
world
Statistics were slightly bullsh. Amer
lean visible losing about $4,000 bales,
but in other kinds there was relative
increase. The thing that interests him
who has cotton for sale Is how soon
win the low grades begin to move.
Trade continues active and prices are
high, but the idea is apparently spread
ing that In many directions the crest
OF values has been seen. Whether this
applies to cotton and its products, none
can say with certainty