The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-10-25
COTTON MARKETS
Better Prospects Settling
British Strike Has BuIEiSh
Effect on Markets.
MonAay Aftetnoon. a..

Signs today seemed pointing to-
ward an early settlement OF British
| labor troubles. and the result was
rather disastrous Ia the cotton bears
Indications We're that both sides OF
| the controversy were coming 20 a
basis of adjustment. while some pri-
vate cables even went so far as "a
say that il had already been eff
fected Such, hoWever. seemed q bit
premature. The market went ahead
and discounted it, the bulge bate an
the afternoon almost taking some OF
the board watchers off eheir feet. The
stimulating effect OF the news was
not confined to contracts. for there
was a much better feeling in the spot
department and buyers were finding
resistance considerably stronger.
The weather map showed that over
the Weekend some rather heavy
rains had fallen. including some sec
tons where they probably injured
grade and interrupted picking, while
indications were for them to spread
over the entire central and eastern
belt and perhaps do additional harm
The census department issued fig
ures on ginning to Oct IS, which
were little Dearish .affordng oc-
Casion for some selling after the ini-
tial bulge. The amount turned out
was 6,7l2.000, which was somewhat
larger than expected and did not
confirm current ideas that threats
against the ginners had been an i'm
portant factor, However the report
was given short-llved attention.
AT the close the list in New York
was strong and from l40 to Is points
to the good, while New Orleans fin
ished steady and 90 10 II ur.
Liverpool, which is now working
on the old time, clocks having been
set back an hour, should open 81 to
40 points to tho good tomorrow
In the foreign market prices
started folly mp as expected. went
higher on the favorable aspect of the
labor sltua zion, then receded on
profit taking toward the close, finals
being steady and OTTO II points net
to the good Spots we're marked no
80 points, fully middling- to 1S.22d.
with sales 1000 bales. including $500
american Receipts for the day were
5000 bales, including $500 Ameri-
can.
At the opening domestic markets
were not up much, bat quickly shot
upward on buying for foreign ac-
count and for certain trade interests
December sold up 20 2l.45C, but re-
acted TO 2O.7O later on profit taking
and renewal of professional pressure
after the ginning figures came and
there seemed promise OF better
weather In the western belt. Buying
persisted, however. and as informa-
lion came from the spot department
he tide turned upward again. In the
ate trading offerings dried up and
shorts found 1t expensive business to |
'oVer, December soaring to 2222c, q
Use of 1852 from the mornings low, |
est and 442 points above the low |
evel touched one week ago, when |
December made a season low of |
.7,SOc. Finals were not far below |
he top.
The spot department reported sales
Moderate in Texas, but prices higher.
he leading centers elevating them
rom 100 to $50 points. New Orleans
pushed them up rs points, middling
o Doc, and sold 3,799 bales.
In the local market no change was
made in quotations, middling 20.5Oc,
nut sales were again larger 4,1O0
ales changing hands, of which il Is
aid that fully half rs old cotton.
There seems to have been a real
weakening here and in this terri
DRY on the part of spinners and
heir representatives..