The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-08-06
COTTON MARKETS
Market Very Irregular and In
tIuenCeS Mixed - Net
Changes Moderate.
Friday Afternoon. Aug.

Keeping up with the speculative de-
partment Of the cotton market Is as
Stunning the proportions OF trying TO
keep pace with happenings on the con-
tinent Of Europe. The two are closely
allied, although there is quite a diver
genCe Of opinion as to whether actual
war over the POLISH Russian situation
would be more bulliSh or hearish on the
value OF cotton The nebulOus state Of
affairs over there and the belief that
all the allied nations viii do everything
in their power to avoid recurrence 81
war on a large scale again tend to
strengthen the view that the infp-
cnce OF itself should be more again Il
values than IN their favor II Is quite
probable that the changes In prices
just now are due AS much 10 technical
conditions In the market as TO anything
else with opinion as To the actual cron
situation FAR from definite. II Is hardly
probable that anybody will contend yet
that deterioration has assumed sufh-
cent volume TO be alarming
Finals were barely steady and from
10 points up to Il or In New York
while New Orleans closed steady and
from % up TO 3 Oft.
The Liverpool market was rather
worse than due on an average this
morning. for the distant months were
not up To expectations, The uears were
perhaps stronger because of the unset
tied feeling and fear of the effects OF
deprecated exchange prices Finals
were steady and from Is to 2S points
net higher Spots were marked up Is
points, fully middling to 2S 06d, with
sales boa bales. including 1900 AmerI.
can Nothing was received overnight
Manchester advised that cloths were
firm. but not active. while yarns were
In improved demand. One private cable
said that Manchester was buying lit
tie more In the contract market
Opening prices on this side were low
er because OF disappointing cables. fav-
orable weather and feeling that the
rapid rise had eliminated a large share
OF the short interest. But a lot OF
covering was done on the dip, center
ing in the october position. which sent
the list up and that option 10 32.62c, a
rise IN few minutes of 1902 points.
Buying was attributed to expectation
Of renewal OF war in Europe and limited
offerings enabled the bulls to have lit
tie trouble There was profit taking
on the bulge and afterward the market
was a two-Sded affair, with no definite
trend. In the afternoon private re-
ports seemed to indicate that perhaps
the Polish situation was not so bad as
pictured and that some sort OF arms-
ttce might be had which was an eX-
cuse for some renewed pressure, DC.
tober dropped to Si.S0c and the entire
list was off some and traders disposed
to do but little.
The weather map showed that rains
were only In few sections, some OF
which needed them and others did not.
AZ whole the crop was faring about
MS well as could be expected for August
and weather did not help either side
much
The spot news was not important
and dullness continued. The Texas
markets were changed but little, Dallas
reducing middllng 10 points to IS e0c
and selling 1865 bales, while Houston
left II unchanged and sold $3.50. New
Orleans continues to shade quotations,
cutting middling rs points today to
rs i5c, but did not sell but 500 bales.
Memphis sold only rs bales and made
10 change, the weeks sales totaling 67S
bales, Unsold stock here was reduced
to 10000 bales, comparing with 5000
year ago and with $4,000 two years
aRn