The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-03-26
COTTON Markets
aiher Prospect Better, But
arket Gets Excellent Sup
port From Trade.
FrIday Afternoon. Match 26.

friday Afternoon, MATCH -.
be cotton market today was without
Filing features. but its undertone
steady Most OF the support was
IN to the May position, though Il
shared in by July, while the as
& ones failed to show any weakness
aere was enough of the bad In the
ather to discourage pressure, al
ough the map as a whole was a IA
aERble -one taking into account the
aspect. Considerable rain fell in the
atral and eastern belts, which were
pected to further delay crop prep
afions, but advices from Texas ana
slahoma were that those received out
re were as a Iule just what was
nted. The exceptions were lew
ttions reporting them too heavy Tor
Ife lowland areas, But the weather
Is not the primary influence, appar-
ntly.
With the March deal out of the way
md the trade feeling that May shorts
an be punished just as easily ana
severely, attention went to the lat
ter. Helping to give uneaslness to the
j )Tts was the proposed amendment 70
tAe law regulating futures which would
ftuuire that of deliveries so per cent
could have to be middling or better IN
fade. This matter was the produce OF
the brain of Senator Conner, the newly
Abpointed member from Alabama, and
i'd seemed to fit in well with the plans
ia those controlling the summer posi-
Hons, although some expressed the
Hpinion that If it should become effec-
I've It would prove altogether to the
advantage of the spinner and would
be productive of harm to the South.
Liverpool was worse than expected,
helped by uneasiness over the progress
of radicalism on the continent. There
Seemed to be little activity among the
spinners as to getting raw material,
30 finals were quiet and steady at .
10 10 points to the bad. Spots were
marked up 20 points, fully middling
40 30 Sd, with sales only 1000 bales.
Receipts for the day were go, 900 bales,
Including $500 American, Manchester
Advised that cloths were quiet and there
Was little disposition to buy yarns.
Moderate gains were made on this
hide at the opening, the weather map
lneing the chief influence. May opened
~ 3S.25c, July at 35,70c and october, at
2.15c. May quickly sold to 3S02c, but
Recovered and touched 38.48c while July
phried between 35.41c and 35.73c. Octo-
Der went as high as 32.19c, but did not
hbld her gains well like the others did.
There was strength in the sterling mar
ket, rates for demand rising gradually,
81 being touched in the afternoon. 1t
Nas thught that the coming of more
kold from Great Britain and fewer Of
ferings Of bills had to do with the I'M
movement, but it apparently. had small
pffect on the market in the belt. Con-
ditions in Germany do not seem to be
eetling any better, although that, too
failed to lend much encouragement tc
the bears.
Spot advices were without much fea'
tine or Importance. Exports were .suf-
fscient to raise the weeks total to about
4zl 900 bales, making the season tota
III date SOP, 900, with slightly more thai
four months of the season left. Week.,
satisfies were slightly bullish as 7
american, visible supply losing 4S,00'
hales, compared With loss of $4,000 this
week last year. Spinners took 192,OO
bales, compared with 10000 last yea
for this week.
Futures closed unchanged to 30 point
UP; tone steady.
New orleans closed 9S points up to
dpwn; tone steady. Spots were re
dnced SO points, middling to 40,25c an
hAles were 1869 bales.
In the local market sales for the da
Mere 1000 bales and quotations wer
IN changed; middling at 40.50c.
Sales here for the week were 7,5C
Bales. Estimated stock unsold in tn
n hands of factors, 100000 bales, com
pared with 25000O last year and 1850
III 1918. Linters in stock are 23,OC
bales, compared with $4,000 last yea
md $4,000 in 1918.