The Chattanooga news. [volume] (Chattanooga, Tenn.) 1891-1939, 1919-07-21

LOCAL and LIVERPOOL
SELLING CAUSES SLUMP

New York, July Ala sensational
break featured the cotton market tnis
morning, prices dropping $6 bale,
after a steady opening, with August ,
"A points higher. Further rain over
the belt together with steady cables.
furnished the buying incentive at the
start, but southern Liverpool and local
selling caused break,
Prices were smashed from rs TO III
points under the highest opening levels,
and from So to 9b points below the
closing figures OF Saturday. This vio-
lent break resulted from selling precip-
lasted by bearish statement OF an
English economist reported to nave
been made on the exchange situateds
Later the market recovered about 80
points, but toward the end OF the first
hour was still very much unsettled with
n large trade. The break sent October
off 34.75c. and December and January
to $4,000.
ket, while more or less irregular, was
quiter. Weakness In the stock market
and liquidation OF all street accounts
checked bull operations. and late ma
day prices were about So points under
Saturdays close. with October selling
al 35.I5c Weevil complaints were
plentiful. especially from Georgia. !,
Easiness In the spot markets OF the
interior increased offerings OF contracts,
AT ! O'Clock the trading months were
at net declines of 67 TO so points.
A renewal of Wall street selling oc-
Cured in the-early afternoon, and some
prices made new low levels for the day.
January declining TO 1890, and thel
tire list showing rs to 90 points decline
under Saturdays close. October SOLD nj
35.07c, and December at S5.l0c, sup
port was mainly from trade interests
hedging against large sales OF goods TOT
,.fnfar opd snrinR delivery.
NEW YORK COTTON FUTURES
OPENING.
New York, July 21.--Cotton futures
opened steady; October, 35.S5c; Decem-
her. 35.02c; January 1850; March,
'o' NEW YORK COTTON FUTURES
CLOSING.
New York, July 21.--Cotton futures
closed barely steady; July, 34.92c; Oc-
tober. 34.sOc: December. SIC; January
34ssc; March. 1885,: .o--on
New York. July 2l.--Spot cotton;
t' NEW ORLEANS COTTON.
New Orleans, July 21.--First prices In
Gotten today were II 30 rs points higher
on the wet weather debt. but heavy
selling almost immediately appeared
and caused sharp reaction Of 40 to
80 points, which landed the trading
months 81 to 70 points under the close
Of Saturday Much of the selling was
based on a somewhat improved, weather
forecast for the western belt, although
some of il was due to the continuation
Of the marines strike.
Unfavorable reports from the foreign
exchange market and bearish view
of the Mexican situation increased the
selling pressure. In the trading up TO
noonS prices went to q net decline oil 90
NEW ORLEANS COTTON FUTURES
OPENING.
New Orleans, July 2t.--Gotton futures
opened steady; July, 34.S5c; October,
35,41c; December 35.40c; january
35. 46c; March, 35.45c.
n NEW ORLEANS SPOT COTTON,
New Orleans, July 21.-Spot cotton
steady; unchanged; sales on the. spot.
1871 bales: to arrive. 645: low middling
20. CSC; middling, 3450c; middling. 35.50c;
receipts, 1921; stock. 360,49S.
LIVERPOOL SPOT COTTON.
Liverpool. July 21.-Cotton; spot slow
of sales; prices firm; coed middling
22.64d; fully middling, 2214d; middling,
81. SD; low middling. 19.75d: good ordi-
nary, 1s.14d ordinary. l7;61d. Sales.
Receipts, none. Futures closed barely
steady; July. 21.53d;- October. 21:6sd;
January, 21.67d: March, 2l.62d; May
2l 35d