The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-05-03
COTTO! MARKETS
Market SteadieS on More
Rains and Continued Crop
Complaints, Spots Dull.

Monday Afternoon, May 3.
But Tor the fact that additional rains
,ell over the weekend where not need
and and practically none fell where
moisture is claimed to be wanted badly,
chances are that lower prices would be
witnessed in the cotton ma;Set today
mere was reactionary disposition In
the stock market, rejecting further in
iluence OF monetary conditions, while
labor news from New Bedford. the
strike being on up there did not help
sentiment, however, failure of trou-
Dies from radical elements over MAY
day to develop had slight stimulating
effect
Steadiness OF tone prevailed all during
the session, and finals in New York
were unchanged to SS points to the
good while New Orleans finished at
gains Of 10 to 40 points. The chief eff
market and labor unsettlement in mill
slightly.
TO make fun response tomorrow Liv-
eerpool should show an initial decline of
The map showed traces of rain in the
extreme southeastern part of Texas,
nut the rest OF the state had none and
adVlces told OF much need of them and
OF considerable replanting being nee
essay, win scarcity OF good seed
Rains fell in Arkansas, Tennessee, light
ones in Alabama and some moderately
heavy in sections of Mississippi. In
georgia they were rather liberal, which
was occasion for much of the bullish
feeling, as accounts from that state tell
or iateness. Temperatures were gen.
orally near normal, with some indica-
tons of additional showers, except that
Texas had little promise Of any Crop
accounts did not have anything espe-
cially new in them. but contained
enough that was bad TO discourage
pressure. thA labor Iao
sens chances of overcoming the handi-
cap.
Liverpool came steady and from 81 to
points up at the close, nears being
stronger stronger than distant presumably re-
strike, though cables had nothing re-
garding the situation. Spots were
marked off points. fully middling at
g7O6d with sales 1000 bales. Re-
ceipts were $4,000, including 14,7Oo
Ar erican. xsgnHlN
Opening on July in New York was
points TO the bad, due to labor trou-
bles and to further talk of prospective
tenders. Another influence, perhaps,
was the, fact that the largest distributor
of merchandise In New York this morn
ing was advertising uniform cuts of 20
per cent on everything in stock, it be-
n.s explained later that IL was thought
wise policy to take note of the changed
attitude OF the public as to buying and
W dNolu bellB caught Win possible
oversupply later. This was regarded
as significant in connection with other
evidences of spread of reaction in
the buying disposition of the public.
october, however, opened at 20
points higher, at 35.65c, and under i'm
petuS of covering on weather news
touched acc before responding to realiz-
ing later. There was some recovery of
July from the opening but it receded
more later in the day and closed with
out change. October did not get back
to It's previous close and displayed good
support in the afternoon. The entire
affair was largely directed by views as
to the weather with trading only mod
erately heavy at any time.
In. the spot department sales were
small at all centers, except that Dallas
reported sales of 2092 bales at an adj
vance of 20 points, mddlng at 40, zoe
Memphis sold but 200 bales and New
Orleans only 847.