The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-04-30
COTTON MARKETS
Near and Distant Months
Show Disposition to Narrow
Differences, Spots Quiet.
Friday Afternoon, April

Friday Afternoon, April 30.
Without any incentive to active trad
ing today and influences more or less
mixed. the market was an irregular af-
fair and left off without material
change in the more active positions. In
the spot department business continued
light and quotations were practically
without change.
Futures in New York colsed steady
and from Is points off to 43 up, while
New Orleans closed % off to So up.
Because tomorrow Is moving day
in New York, trading in that center
will be suspended, bur New Orleans viii
he open as usual and afford an outlet
for discounting any unexpected 'devel-
opments in the weather or other news.
Weather in the belt was more favora-
BILE, but apparently there is much at
tention given to other influences. one
of which Is the serious handicap the
crop has in its late start. There were
two private acreage estimates out also
to affect sentiment. One said its ad-
vices pointed to an increase Of but l.S
per cent, while the other figured that
acreage would be the same as last
wear. both of which stimulated cover
ing by shorts and trade buying, as
ideas current until recently have as
sumed there would be more increase.
Absorption of the new crop months Dy
trade interests is having It's erect a issS
for there was talk today of possible
wiping out of differences between oc-
tober and July, which has been mar
rowed some during the past rev DAYS
Labor news was not very taVoraple'
cables saying that the conference ne,
tween operatives and ana m nai,e se0 pff al
though the difference of but 10 per ceht
in wage figures hardly suggested prop
ability that they would noS get "
gether and avoid strike. me pfos-
pective strike in New od Gngtan of I uncero
teintv hut failed to have material
The news that the foreign export
hoard for financing business hao pe eal
abolished was regarded by some as al
son for being bearish on cotton, az az
tbnuqh others thought the removal Oh
the red tape would offset It, espeC, rin =
DC little had been done under IL uuiine
the time of its operation. -,o. ond
weakness in the security markeI anu aFI
higher rates for money uao SUN wore
feet. but not enough to be given Inioa =
Than passing notice. Call money reacnea u
os high as Is per cent, but thls uiu
not seem to affect cotton any; H..
liverpool was irregular at the me az
ish. the list being off 20 to up 10 20
points. There Is evidently no uls , tha
lion over there to offer pressure on the
distant months and the labor news IN
duced liquidation of the nears: spo s
were marked down Al points, fully ma
ding to 27.Osd, with sales 4,GoV oa, srS
including 1900 American. Receipts were
1000 bales, including $500 American,
Manchester advised that cloths were
quiet and yarn demand was light; 49,,
At the opening July was off ana
October 2 points, at $500 and 80 Soc
respectively. The former went to $500,
hut later sold to 3795c, then recovering
some of its loss. Circulation of notices
for 900 bales on May helped to induce
a. hesitant feeling. october worked up
to IS soc shortly after the opening
dipped to 35.20c and then recovered 10
S5.66c, but reacted; o5
The weekly statistics made mod
erately bullish showing, but failed 70
get much attention. Spinners took IT,,
600 bales, compared with 10000 last
wear, while movement into sight was
%, 900 against $4,000. Visible. Amer
can lost 81, 900 bales, compared with a
loss of 1000 this week last year orO
In the local market sales were S5u
bales, making $3.50 for the week. IN
sold in the hands of factors is est.
mated at 21S, 900, compared with 175,OOC
last year and 10000 two years ago
while linters in stock are $4,000 bales
compared with SO, 900 and 117oOO