davidaulloa/AmericanStories huggingface dataset:
The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-08-07
COTTON MARKETS

Irregularity featured the dull and
rather colorless market during the
short session, There were rains in
portions OF Texas where the weevil is
operating, while II was also raining in
central Georgia and along the sea
board, which stimulated anxiety over
the effect on the weevii. Moreover. the
forecast held outp romlse of more
showers over widely scattered sections,
which IL is feared will do more good
than harm, though they may check
some of the shedding.
attention today. for feeling was some
realized THAI Il was not such an i'm
portant direct market influence, Re-
ports Of fairly good business in the
actual in Texas and of good inquiry
again. today seemed also to stimulate
confidence.
At the opening October in New York
stood at S2.15. 10 points to the good,
dipped to Sl.9O and then recovered
gains failed to hold and finals were
barely steady and 80 points off to ~
up
New Orleans left off steady and I'M
changed to 16 points net to the good.
Liverpool on Monday should come IS
to points to the bad
In the spot department business was
fairly good at Texas points, Dallas
selling 1928 bales, with middling off 35
points to S5.55c, and Houston 1914
New Orleans made no change and sold
292 bales. but Memphis cut another
so points off and left middling at 3Sc
with sales $50 bales
The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-08-07
MUCH LIQUIDATION
IN STOCK MARKET

NEW YORK, Aug. THE stock mar
ket this week suffered from drastic
liquidation and bear selling which de-
pressed industrial shares to 20 points
with partial reCoveries at the end Con
secutive factors, such as the railroad
rate increases, big crops easier call
money, and the intention of the rail
roads to spend S7O0, COO 900 for necessary
improvements and equipment had little
weight in the face Of hurried selling
The gravity Of the Polish situation
and the sensa tional weakness in sterl-
ing exchange, which fell IS points. with
a recovery Of about half the loss, were
instrumental in driving down prices to
the years lowest mark. Conjecture
as to the earnings and business out
look Of various corporations affected
by the traffic congestion and fuel short
age was an influence which also Mayed
a part in unsettling confidence. Pass
ing Of the American cotton oil divi-
dend provoked discussion as to the fu-
ture dividend policies Of other corpora
tiUnS.
Railroads were well sustained the
investment inquiry for these stocks
serving to intimidate the shorts in
some Of the specialties which were re-
puted TO have been oversold
Leaders in the downward movement
comprised the oils, steels, shippings.
feathers and paper issues.
The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-08-07
NEW YORK COTTON.

NEW YORK. Aug. THE early cot
ton market showed continued irregular
ity, with much Of the early trading at
tributed to evening up for over the
week end. The increased spot sales
reported in the southwest late yester-
day promoted covering at the start
First prices were firm at an advance Of
10 to 25 points in consequence, with
December selling up to 1890, or %
points net higher Twenty or 80 points
We're lost right after the opening under
realizing by recent buyers for a reac-
ton, but the covering continued and
there was nervousness over the contin-
ued rain in the belt.
The weather map showing a good deal
Of rain in tho southwest led to an
other furry of covering during the mid
die forenoon which sent October up
to $40 and December to 81 90 or 80
to A points net higher on active posi-
tions. Except for shorts there were few
buyers, however and the market was
unsettled in the later trading with
prices easing off under realizing. The
close was barely steady at a decline
of TO 80 points on near months, while
November and later deliveries were
to 10 points higher.
Futures closed barely steady at de
cline Of 80 to advance of 10 points
The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-08-07
BOW JONES 5 SUMMARY

NEW YORK. Aug 7.--London takes
more cheerful view of the Polish stu
alton, British government reported to
have accepted Bolshevik terms, Reds
sweep on Warsaw makes little head
way; Poles make progress along River
Bug and to the west, Three men were
Killed and large number injured dur
ing progress of street car strike in
Denver.
Duns reports 1852 commercial failures
in United States this week against 1888
last week and 80 last year.
Liberal constitutional party known as
Original Obregan party made clean
sweep In Mexico city elections
Signing Of Turkish peace treaty again
delayed until next Tuesday
Dun's review says: Evidence Of eco
nomic readjustment IA varied in char
acter and recognition Of changed con-
ditions which for some time past have
been in progress of development is now
more general"
Italy will receive Russian agent and
foreign minister declares against in
reference with soviet system
Premier Lloyd George predicts much
unemployed during coming winter and
says authorities are considering pre-
cautionary measures.
Average price 20 industrlals 90. 80, up
81. 20 active rails SI.56, up 80.
The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-08-07
NEW ORLEANS COTTON,

NEW ORLEANS, Aug. Too much
rain IN the belt, especially in Texas, and
complaints of worm and weevl dam
age from that state, put the cotton
market higher today. In the first hour
Of business prices gained 26 to Al points,
October rising to 3l17 and March to
1901. Political news from abroad was
considered less alarming and shorts
were inclined to cover in consequence,
which increased the demand on the
market
During the second half Of the session
the trading was rather tame, and of
the usual weekend character. The
forecast of dry weather for the western
portion of the belt, except for showers
along the gulf coast, was better than
expected. and after it was posted prices
sagged somewhat. The close was at
net gains for the day of IL to IS points.
Spots closed quiet and unchanged.
Ordinary, 1880; good ordinary, Is. Csc;
low middling 26.0Oc middling, 36.75c;
good midding, 40.50c. Sales on the
spot, 92 to arrive 200.
Futures closed steady and unchanged
to advance OF Is points.
The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-08-07
COTTON PRICES
RECOVER SOME
Shorts Cover Freely When Sellers Display More eau
ton, Encouraged by Reports From Fields Trade
Support and Talk of Renewed War in Europe

though the crop cost had been uhpre-
Bedented.
There was some comfort to the bull
side in the figures showing that. con i
sumption in the United States during
the past year had been 2.135, 600 bales
larger than the year previous. but this
was not any guaranty that such would
be repeated or that the unsettled state
Of affairs and the deflation idea would
not make Roadway unless checked by
reduction in costs sufficient to slim
ulate afresh liberal buying. The re-
covery In the market was apparently
due as much to technical conditions as
to anything else, but the week ended
without II affecting to any extent the
spot department.
Reports from the fields were, more
favorable than otherwise, and the
weekly summary was regarded as mod
eratelv bearish, although from some
districts came complaints, and deterio-
ration had apparently set in. How,
ever, it's extent has not YET assumed
Roadway sufficient, 10 Justify starting
pective. The lateness Of. the crop still
exists, but that is insufficient to en-
courage much support in the face OF
other factors
Fairly Good Recovery.
From the lowest points, when october
In New York sold at 1880, the reeov-
cry extended until the end of the week,
with considerable intervening irregu-
arity and backing. and filling. Octo-
ber in which the short interest seem
ed largest, sold up as high as S2.62'
peared to be little disposition to do
much after the cleaning out process,
but spot news was certainly not very
encouraging.
With the new crop movement near at
hand and so many things to contrib
ute to the feeling of uncertainty there
Domestic mill conditions do not appear
to grow any better, whether entirely
due to legitimate reasons or shaped In
a measure by selfish motives and pur--
| poses, and the task Of holding against
| the weight of early receipts looms
large The fact that already some Chi
merical schemes are being suggested to
| help the situation from the standpoint
of the producer would seem to indi-
cate that the. bigness of the job is
appreciated Outstanding among the
| things suggested as means for help
| ing is that of the New Orleans man!
| long regarded as one Of the sanest and
wisest men in the trade, but which
plan does not meet with much approval
| from members of the local trade who
have given expression to their opinions
| They place it in the class with the
'Duy-a- Ddle movement VI I5l1' WhlCH
| is now recognized as having had alb
| solutely no basis in reason. 1t is ar
gued that to undertake to leave un-
gathered part Of the crop because it is
| low in grade, would be a very poor way
| to try and stimulate demand for the
| low grades already in hand, and would
| be poor economies However, these
sort of suggestions make good subjects
| for discussion during the periods of dull
ness, especially when there Is so little
interest in politics.
The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-08-07
BANK STATEMENT.

NEW YORK. Aug. THE actual con-
dition Of clearing house banks and
trust companies { or the week shows
that they hold $l5l7l.120 reserve In
excess Of legal requirements. This is
an increase Of S2i25764O from last
week.
ACTUAL CONDITION.
Loans, discounts, etc. $51O2, Jas 900,
decrease S45.5lS, 900.
Cash in own vaults. member OF fed
eral reserve bank. $50, is3 600 increase.
$1.447 600.
Reserve in federal reserve bank Of
member banks, $685., 039. 600 Increase
$t4717 OOO
Reserve in own vaults state bank
and trust companies, SS,t37,OOO, increase
$l75, 600.
Reserve in depostaries state banks
and trust companies $3.50, 600 decrease
1925 600
XNet demand deposits s4,o5S. PSI. 0oo.
decrease $50. 1857. 900
Time deposits, $253,O7 600, decrease
sac. 600.
Circulation $685.. 600, decrease s1os. -
600
ST. S, deposits deducted. t3S. 369. 00o.
Aggregate reserve 1852 635 200
Excess reserve, $l5,171I2o increase
2I,157, $40.
The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-08-07
BY GEORGE WILLIAMSON.

New low levels for the summer were
recorded in the cotton market during
the past week. from which there was
a moderate recovery because of tech :
nical speculative conditions, but net
changes from the end Of the previous
review period were small. Sentiment
is still more or less confused, and def
mite opinions are few and far between,
Pessimism was still quite general, but
the level to which cotton prices had
descended and the big discount of con-
tracts under spots discouraged sellers.
1t took but little excuse to stimulate
covering by shorts, although it cannot
be said that bullishness prevails to any
extent other than of negative sort.
Market factors were mixed and trad
ers were at sea as to how much weight
to give to some items Of news. The
weather and crop news was prominent,
with the official report on crop con-
, dition coming Monday a little under ex-
pectations, but apparently most Of the
effect had been reflected The slight
bullishness of the report did not off,
set attention to other factors. some
bnllish and some bearish Trade con-
ditions in this country continued the
there was the trouble between the
Poles and the Bolsheviki of Russia,
threatening to start afresh the war
Flames and to defer indefinitely the
expected economic recuperation and
promised largeI demand for the raw
Of consequence was to be found in the
financial situation and the outlook was
anything but roseate.
After a fairly active speculative mar
ket the list Of options in New York
closed the week 8 points to the good
to IS off, while in New Orleans finals
were 80 to 8 points net to the bad,
At the Texas spot centers, which best
reflect conditions in the spot depart
ment this early In the season, middling
ranged from 1925 to SO cents, de7
cline OF G5 to 1875 points for the week.
Declines at the other centers, where
no new cotton has yet been handled,
ranged from 100 to 200 points, with
some adjustment yet to be made be5
tween the old and the new crop.
Report Has Small Effect.
After the offlciaI condition report
came on Monday. showing percentage OF
TAI, compared with 7O7 the month pre-
vious, GIL a year ago and a ten-year
average OF 1915, pointing to yield OF
12,519,000 bales, without linters. atten-
ton turned to how the crop was faring
and to probabilities FOR another year s
requirements. With such a crop in pros
pect and the carry-over a large one,
although estimated by Mr.. Hester as
about 100000 less than year ago and
less than expected by several hundred
thousand bales, conditions and circum-
stances affecting consumption assumed
added Importance. without a serious
lessening of prospects for a crop, there
was no basis for anticipating any
scarcity of raw material for another
season. while continuation OF world un :
rest and business having to cope with
tight money encouraged ideas that sus-
tanning of prices would be difficult, even
The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-08-07

CHICAGO, Aug. Wheat No. . red
81 IS; No, hard $243@2.45
Corn, No. mixed, $l54i2.
Oats, No. 2 white 7S1s d82c; No. 8
white, 4taG791sc.
Rye, No. 2, 1872
Barley. SlO8d1.13; timothy seed 81
LOO; clover seed 25@SOc.
Pork, nominal; lard $1S.75; ribs SIS. 90
@16.25.
CHICAGO. Aug. THE close was
nervous with prices 2hc to &c lower
with December $2S21s to s2.3S and
March $2351s.
KANSAS City. Aug. Cash wheat
&c to l3c lower; No / hard $2.4OG2 68;
No. 2 hard $23Sd2 IS; No. l read 81 40;
No. 2 read $2.39d24O
2 mixed $1.56@1,5S; No. white $1.55;
No. , yellow 81 56@15S,
Oats 1c lower to Sc higher: No. 2
white Sic; No, 2 mixed 72c; No. red
Rye s2.O5Q21o.
AKANsAs CITY, Aug. Close wheat
Dec. 81 20; March $2.31 u
Corn Sept, $13s$; Dec. $119A; May
$L21A.
ST, LOUIS Aug. Cash wheat ,
Corn, white s1.6O@l61.
oats, ? white SIC; white 1874 a 79c.
NEW York Aug. Live poultry
steady, prices unchanged Dressed
pouhry irregular; western brolers fresh
JlT SOC.
The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-08-07
COMMITTEE MEETS TO
PLAN ENTERTAIN MEN 7

The entertainment committee Of the
Chamber Of Commerce was to meet On
Saturday afternoon TO begin forming
plans for the entertainment Of the big
delegation OF Okolona bankers who VIII
pass through Memphis oct 10, en-
route to the national convention. The
committee will also lay plans for par
ticipation in the entertapment Of d"ir-
gates to the state convention Of
American Legion members here the last
of August
The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-08-07
FROM WALL STREET
Caution Displayed in Stock
Trading and Some Mod
crate Recession.

NEW YORK. Aug. 7.-Resume Of
conditions in the business world by
the weekly trade reviews disclosing a
process of readjustment, introduced a
spirit of caution into the dealings on
liquidation of low priced oils were re-
sumed. especially Invincible. Bear
pressure was exerted against a varied
list of industrials, including the steels,
motors, shippings, equipments, papers
and coppers, which sustained losses Of
l to 2 points High priced railroad
shares held up well. The more re-
assuring foreign news was without
much effect on exchange quotations.
sterling yielding, while some of the
other remittances We're higher. The
closing was easy. Total sales approx
mated 225, 900 shares
Range of prices on New York stock
exchange, with previous closing bios,
furnished by Shepard & Chuck, Falls
building.
The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-08-07
COTTON REGION SUMMARY.

Maximum temperatures are somewhat
below seasonal average in Texas Ok
lahoma and Atlantic coast districts,
otherwise nearly normal temperatures
prevail.
Light to moderate showers, with To-
cally heavy rains, occurred in Atlantic
coast districts, Southern Louisiana, and
Central and Eastern Texas, with light
To moderate scattered showers In Ar
kansas. Southern Alabama and a few
places elsewhere.
The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-08-07
OCCASIONAL. SHOWERS
PROMISED NEXT WEEK
Total sales, 247,7OO shares.
WASHINGTON. Aug.

WASHINGTON, Aug. Weather
predictions for the week beginning
Monday, are:
81 Middle Atlantic states: Considerable
coudiness; moderately warm weather
and occasional showers.
South Atlantic and East Gulf states
Considerable cloudiness, moderately
warm weather and occasional showers
West Gulf states: Generally fair
normal temperature.
Ohio valley and Tennessee: Moder-
ately warm and generally fair, but with
occasional local thunderstorms.
The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-08-07
Memphis District.

Memphis, Tenn Aug 7, 1920

Auatin, "a, BRENNAN, "A, BrOW0-
wood, go; Columbus, 1852 Corpus
Christi. 26; Cuero, 80; Encinal IS,
vile. 10. Lampasas. 800; LIano, A1i.
Luling Sc Mexia I 40; San Antonio,
~ MacO so. Meatherford. -uh.
The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-08-07
LIVE STOCK MARKET.

CHICAGO, Aug 7.-Cattle--1, 500;
market compared with the week ago,
strictly choice handy weight steers and
best yearlings strong; choice heavy
beeVes slow. common, medium and good
steers, Csc to soc lower; weighty cows
and best heifers, soc higher; medium
and common kinds. steady to higher,
bologna bulls, Csc to soc higher: others
steady to Csc higher; veal calves, $500
to $3.50 lower good stockers, soc low
er; undesirable kinds, SOC to 75c lower
Hogs-S,000i light and light butchers
steady with yesterdays average; 9TH
ers, mostly 10c to 15c higher; top. $3.50;
bulk light and butcher hogs $15.35G
pigs steady to i5c higher; bulk desr-
able kinds, $14gO@15.40
Sheep-4,000, market steady; receipts
direct compared with week ago: West
ern fat and feeding lambs, 75c to $1.00
lower; native lambs, Csc to soc lower ;
fat sheep. mostly steady breeding ewes,
strong to Csc higher.
The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-08-07
UOTTONSEED OIL.
BANK CLEAaINes.
BOND CLOSE.

NEW YORK. Aug 7---Liberty bonds
Closing prices today were. avs. 500 &c
first Is. SsI 10 bid. second IS. ss4 6s .
first 4hs is5.26; second AS. SS476,
third 4As. $685., fourth AIS. $S5l6,
Victory 3As s95.6s; Victory. &c S95 6S
The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-08-07
Some Ball Game

Hodges field Sunday. Dyersburg
vs. Hacks All-Stars. Tickets and fin
cigars at Samelson's. Tademas, Julia
Marlowes, Flor De Melbas. adv.
The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-08-07
Follow the Crowd

Out TO Hodges field Sunday, Dyers-
burg plays HACKS All-Stars Get your
ticket and some Flor De Media cigars
a Samelsons adv
The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-08-07
ToMoRRoW's ESTIMATED.

1920. Last wk. 1919.
n. Orleans {. SOCIAL 900 1876 1877
Galveston ..4,O0014, 500 ~ 5.64l
The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-08-07
Dversburp VS.. All Stars.

II win op great game. Don't miss Il.
Buy your ticket ut Sameison s-and also
get supply Of Tadema Cigars. adv.
The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-08-07

LOUISVILLE, KY, Aug. Cattle,
receipts 200; closing dull grassers.
steers, $6.5OG1175; heifers, $7OOG12 90;
cows, 81 OO61O00; feeders, $700m9,75;
stockers, $5.5O@9O0.
Hogs. receipts. 1000, mostly steady;
$50 pounds up, STATS; 1865 to $50 pounds,
$500; 100 to 1876 pounds, $3.50; pigs,
$lO.50dt20O; throwouts, Sll .5O, down,
sheep, receipts 1000, steady Lambs,
$13 90. Sheep, $7.OO@75O.
The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-08-07
ROUND THE TICKER
Cotton.

New orleans Corpus Christi wires.
Strict middiing sold here last night 40t
on About SO buyers here looking to-
eotton.--F. & f.
New York.-Good buying at opening
due TO reports Of heavy rains parts
OF Texas and big Texas spot sales yes
terday. New Orleans was an early buy
er and Weld crowd covered. shorts
realizing developed after the opening .-
Fenner x Became TO W & G
New York .--Advices to the Chronicle
from the South denote that the weather
during the week has been favorable on
The whole and the crop has done we'll
IN the main. Texas reports cotton con
ditions good although there are some
complaints Of shedding Unless the de
mand for cotton goods improves very
much with prices fixed above a losing
basis voluntarily curtaiment, II is said
will be continued in Fall River mills
IN largo way well into the fan
New Orleans Fear Of contlnua nee
unsettled weather interior over Sunday
and advance i'm sterling now 81 67I
cause oil strength Beer
New York wires Liverpool continent
bought, local traders sold Small mar
ket traders hammcrinG
New York.--Allcn is a hood buyer
for Liverpool
New Orleans.-Prominent Wall street
firm wires us European situation very
bad. We strongly advise selling and
expect much lower prices -C Clark e. Co.
New York.--Spot man here from Tex
as gives very flattering account OF
prospects Texas and Oklahoma Clark
& Co.
New Orleans-Fcar Of continued un-
settled weather interior over SUNDAY
and advance in demand sterling, caused
strength In market.--Clark & co.
Dallas, Texas, wires. Worm and
weevil damage Is increasing"
New Orleans The weather map Is
unfavorable. There Is too much rain
on it. Light TO heavy showers have
fallen in all sections OF the belt except
the extreme northwestern portion. Tav-
lor, Texas, gets 2.7S, which Is the heav.
lest rain on the MAPS. & G.
The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-08-07
Grain.

Chicago, Grains lower on cessation
OF war scare and rains that cover about
Is per cent Of corn dry sections Of
Illinois and Indiana, Removal OF ILL.,
nois drouth fears means bulge sales
Wild to S. & G.
Chicago, -Government station reports
an inch and half rain at Champaign
and says rain is general in that terri
tory.-Wild to S. & G.
Chicago Had rain in Iowa Indiana
and Illinois, scattered rains elsewhere,
crop killers almost out of a job. We
are pretty nearly sure of bumper crops.
the war news Is much better 1t will
be patched up before many days. II
is poor excuse to bull corn and is
not in favor of higher prices The
short interest has been run in all
grains.--O Brien to McFall.
Chicago offerings Of all
grams in the country carries the Idea
that the outlook for corn crop Is not
as pessimistic as some reports would
indicate. There is probably enough sub
soil moisture to tide over for some
time.-Babcock to Clark g. Co
Chicago .-Rather geenral rains oveI
Iowa, Northern Illinois and parts OF
Ohio valley has relieved anxiety. Fea
ture in situation Is fact that country
has not been a buyer. From this. argue
that crop outlook is not bad and re-.
serves OF old corn are liberal -Ba bcock
The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-08-07
GRAIN MARKETS
Unexpected Rains Where
Needed Cause Early Dip
in Grain Values.

CHICAGO, Aug 7.-Unexpected
rains in Illinois and other states, over
night caused sharp break in wheat
today. At the start initial quotations
ssf G s$s ana n ' March T's s2ss Thefe
was little rallying power displayed.
prices for time lowering about the
Corn followed the course of wheat,
opening prices ranging, from ~ to
3%c net lower with September $1.44
to ST. and December $1.24 to $1.25.
me trade became, active on the way
down and support developed from shorts
and commission houses which caused
a rally.
Corn rallied sharply toward the close
because local trader who was big
seller yesterday was credited with free
buying, especially the September OPP
ton. The close was weak however
with prices re to 3%c under yestHr-
days final figure with September
$l.46R to S1.46as and December $1.23%
to $1.24h.
Oats declined in sympathy with other
grades. starting &c to 1Rc lower, with
September 72%c to 73c and December
7Ohc to Tic. -
Provisions were weaker and lower.
v, open. High. Low. Tday Prev
March 288 2.37A 2,8ih 2$5h 2.5S 70
Sen. -. "a 1.47 1.48 1862 1.46%
Dec &C.,. 1.24 l25 1.2s i.28% I,27 =
Sep -. ,729s 1874 nv .72% -.7s%
Dec. ,7O14 II .69& 7OA M
Sep. >. $3.50 $500 $3.50 1855 $3.50
OCT. ..... .... ..... $3.50 26.75
Sep. :. 1906 1907 1880 1900 1895
oct. 1910 1912 1910 1897 1925
Sep. ..'.... 1866 1885 1855 1850
Oct. o.. 1906 1905 1885 1890 1895