The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-01-09
COTTON MARKETS
Liverpool Is Irregular, But Big
ForWardingS-D0meStiC
Markets Steady.
Friday afternoon. IAN. 3

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irregulBrity prevailed in the cotton
market today. but the undertone was
steady on the average and apparently
bullish sentiment was more confident
than that Of opposite sort. The census
report on ginning to Jan. came about
as expected, showing l0,Ol7,OS9 bales,
compared with l0,773,S6 last year and
TO- 4S4,s52 two years ago. For the
period ginning was SIS, 4O5 bales, com
pared with 4S2,724 same time last year,
me report faiied to have much effect,
having been discounted by the private
one OIL few days ago, and also because
1t was neither very bullish nor bearish.
The Liverpool market was irregular,
but some Of the information from thai
direction was bullish. Traders seemed
to be tightening their load Of nearby
positions, but at the same time abb
sorbing the distant ones, evidently be-
ing attracted by the wide differences
and feeling sure that they are destined
to be higher later. Anticipation Of bet
ter business after the formal signing
of the peace treaty, scheduled for to-
morrow afternoon, also was a factor,
while some uneasiness. over continued
strike troubles perhaps contributed to
the liquidation of near months. Big
forwardings from Liverpool, American
$4,000 bales, compared with 10000 for
this time last year, showed that the
mills were getting the raw material in
large chunks. Silver metal also was
up half pence, which helped trade
outlook Finals for futures were "a
points up, the weakness being in the
nears. Spots were marked up 5 points,
fully middling to 3004d, with sales 49,
while receipts were $4,000 bales, in
Guiding 19,400 American. Manchester
advised that cloths were strong and
yarns active.
Domestic markets started slightly
lower and little pressure sent the list
dipping to 1925, and then improving
when good buying orders came in, en-
couraged by advices telling of good
business done in spots at some centers
in the South Most Of the strength
was in the fall months, but there was
not much selling in any of them. Fear
of domestic political troubles causing
delay in treaty ratification by this
country tributed to the early selling,
but bulls were encouraged by the spot
news and prospect for large spinners'
takings exports for the day also being
rather liberal.
In the afternoon March reached 1915,
but buying power became less agrees
sive at the advance and the rise was
checked. Movement into sight was
4O3,54S, compared with 353,257, an ex-
cess of so 900 bales, while spinners took
All. 900, against 100000, an excess of
100000, making a relative decrease In
visible American of about $4,000 bales.
Spot news was indicative of better
demand and a rlmor from New orleans
had 1t that a large exporting concern
had bought 5000 bales in one lot, while
a local story had 1t that the same firm
had bought large line In this market,
Such rumors helped to stimulate sun
port. Demand continues to be for only
certain kinds Of cotton, which are get
ting very scarce and are firmly held.
Other kinds are draggy, but holders are
not disposed to turn them loose at
prices offered, feeling confident that
they will be wanted soon.
Futures closed II to So points UP, tone
New Orleans closed 20 to 40 points
UP, tone steady. Spots closed I'M
changed. middling at 41c, and sales
were 1864 bales.
In the local market sales were 1900
bales, making 14,400 for the week. Quo
tations were unchanged, middling at
40c.
Estimated stock in the hands Of To-
cal factors is 10000 bales, compared
with $4,000 last year and $4,000 In
1917. Lnters in stock are $4,000 bales,
compared with $4,000 last year and H.
900 in 1917.