The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-08-12
COTTON MARKETS
Market Very ErratiC, With
Net Change DecIineS-ln-
tluenCeS Are Conflicting.
Thnrsday Afternoon. Aug.

| er, thursday Afternoon. Aug I2
me cotton market continues 10 show
| very Htue tendency to positiveness and
| influences are 80 conflicting that trad.
| ers themselves can not give utterance
| 70 views without an accompanying pro-
| vlso, There is divergence OF opinion
as 10 whether the rains now being re-
ceived in various sections Of the belt
some OF them liberal. will be more
beneficial than harmful while develop
nehtS In Europe continue nebulous and
nun OF possibilities. Apparently the
Weponderant opinion Is that the con.
unued uncertainty Is hardly conductive
to expectations of large buying OF our
raw material any time soon and there
Is considerable doubt as to the war
rare now under way proving a bullsh
factor. as did the war which started in
1914,
After the session which had periods
o. strength and weakness the list in
New York closed steady and unchanged
10 30 points to the bad while New Or
leans closed steady and rs to 10 points
To, make proper response Liverpool
should come 20 TO is points off tomor-
row morning
The foreign market this morning was
not FAR from what was expected. but
before closing improved little and
closed steady al net decline OF rs to
81 points. Spots were marked down
II points, fully mlddling 10 2S.4sd, with
sales 1900 bales. including 1900 Amer
icah receipts for the day were 1000
bales, including 800 American. Private
cables did not bring much information
but there was report from the British |
board Of trade which showed that ex- |
ports OF cloths and yarns during July |
We're yI, liberal compared with last year |
The political news was also the subject |
of some concern. but apparently IL did |
not have any pronounced effect on trad |
ing over there
The markets on this side started out
somewhat to the bad, perhaps helped by
private condition report whose fig |
HreS were yesterday rumored lower than
they came this morning, and because
some favorable crop accounts were COM
ing from portions OF the belt. Octo-
per started at 3l,56c. Is points off,
oul after touching 81 -47c an advance
ton showing that rains were quite ex-
tensive and were regarded as unfa-
vofable, for they will certainly aggra
'ate the weeVil and make for other In
sect damage However, the buying
ater recession set in. Foreign politl-
al developments were credited with
Encouraging some Of the pressure, while
III the opinions as to the rain effects
we're not bulllsh, The October position
II ,S4c, or 81 points from the early high
'ut the entire list did not lose quite
IS much.
From the spot department came little =
nat was new and adjustment OF quo
atoms continued at a number OF cen
ers Houston reduced her prices 60
otnts middllng TO 35e, with sales T.
80 bales while Dallas cut middling
Q points to 34.60c, and sold $50 bales, =
n New Orleans sales were 304 bales,
~ quotations were cut so points. mid
Ing to 35.25c. Augusta reduced mid
ling 30 points to IS. Soc, and sold b6b
ales' while Memphis was down so TO 4
Tc and sold only l50.
Advices from Texas are to the effect
nat Neather Is interfering with picking
nd grade has been lowered by recent -
ans, but there seems little disposition !"
et TO decline TO turn loose. The first q,
ale from Louisiana was received in o'
eN Orleans today, nine days ahead OF
81 year FIRST. but weather is delay "
~ maturity and opening in the raSt
m half of the belt