The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-03-13
HIGHER;
WEATHER is BAD
Combination Results in Fresh Trouble fer Shorts aRd
Advance Without Much Resistance Some New
High Reeoyds-Statistics Bui!ish-Spots Steady.

hue tEs incsRaivs 70 ere So1th crying
4 20 saise as much as poAs Die Of food and
feed necessities is gRoatsr than Syers
as prices show no sign o. declining,
This 10 counted on % stimullee adher-
ence 20 Che liberalization idea.
Improvement tn foreign credits Ia this
country indicated by the rise "a eE-
change, was due to natural conditions
OF commerce and 20 reports, apparently
from authenticated sources, that much
gold viii be shipped In this direction by
Great Britain and France. one report
had Il that Germany was paying some
thing like $3.50 600. 600 in gold for food
and necessities to Great Britain, and
this would come TO the United states
10 helm pay off obligations due thus
fall The reduction IN the volume OF
imports to those countries and increase
in exports also was helping
Exchange Is Firmer.
Demand sterling rose 20 i3,s2E on
Thursday morning, which compared
with an extreme low of So 10 early in
February. This was stimulated by sharp
buying on a basis in part Of the news
from London as TO gold shipments and
to lack OF offerings Of bills A bur
rled decline of about 10 points followed
and more came next day, indicating
how uncertain the situation is and to
some extent how much speculative
business. The German mark was up
near 9 cents and the French frame
responding In proportion. The effect
was 10 arouse some better inquiry
among exporters In this country. and
while strength lasted to depFess values
in the Liverpool contract. but little ac-
tual business has yet resulted. The
fluctuations merely contributed to the
erratlc condition OF the market and the
holder OF the unsuld portion OF the crop
is still wondering how soon he will be
able to tighten his load.
Another factor having to do with the
Improvement In foreign sentiment and
the rise In exchange was probably the
announcement from the allied commits
sion regarding what ought TO be done
10 help In the process OF reconstruction.
This had been intimated already, but
encouragement was had when the de-
tails Of the proposed plan were given
out,
Movement for export for the week
was larger, although figures were lack
ing on Friday because Of crippled wire
service The total was sufficient how
ever. to cut considerably into port
stocks. For the season 70 date exports
have been nearly 10000 bales and It
seems reasonable TO suppose that they
win hold up for some time to come and
HELM to transfer much Of the carry-over
10 the other side. One thing during the
week which attracted attention was the
fact that 1900 bales were cleared on
one day for Bremen, Germany, Hold
ers OF the low grades are banking high
on thar country coming to their rescue
later, as their manufacturers have al
ways been among the largest user Of
them.
Movement into sight, according 20
Hester, showed n total of 1885, bales,
making 10,021 $50 for the season, This
week last year IT was l2A, 500 and total
of S,991, 500 The relative decrease In
supply OF American visible was 81 900,
the actual decrease for the week hav-
ing been 1881, compared with A,2i0
year ago. Spinners took 2e2, 900 bales,
compared with 162. 900 this week last
year, and the total Is s,743,000, against
7,22s, 900.
Trade conditions on both sides Of
the water offer little announcement
to bearish ideas. Manchester adviCes
have indicated some little slowing up OF
demand, but the mills are busy and
their profits are enormous. thus prac-
tically assuring settlement of coming
labor demands without a strike, In
this country production Is still far be-
hind the needs of the trade, sustaining
quotations and obviating danger OF any
assistance from the spinners for any
hearish movement, at least for some
time, The census report on consump-
ton for February IL expected to be
bullish. while basis for continued ac-
seems excellent. thereby requiring big
than they have this season.