The Chattanooga news. [volume] (Chattanooga, Tenn.) 1891-1939, 1919-09-04
BEARS FORCE COTTON
DOWN TO new LEVEL


New York, Sept. All active cot
ton positions sold under SOC this morn
ing, and to new low levels tor the
present bear movement. refiectihs
heavy general selling on stop orders
due to weak cables. favorable weather
man and an absence ofSoutside specula-
tive support. December contracts de-
clined 40. 85c, and March to 29.95c. rep
resenting a net loss of So to 70 points.
From these levels slight rallies occurred
after the opening, as result OF buying
prompted by reports that tropical
storm was brewing in the Caribbean
Selling pressure was subsequently re-
sumed. resulting in still lower levels,
with December off TO 29.76c, and the
whole market down ABOUT 81 10 "a
points under the previous close. The
favorable western belt forecast. weak
ness in grain and liberal selling by the
south doubtless on weather conuitlons'
chiefly explained the heaViness at ma
day. au
mated the mixed trading at mlooay,
Chandler made an extreme gain OF ~
noints General Motors rallied ana
keystone Tire 7. Crucible steel and
Baldwin Locomotive recovering 10
points American wooden reacteu
sharply on announcement Oh INC Az
creased dividend. ,,. 90
still later the market declined 10
around 2s,5Sc for December, showing
a general net loss of 96 to ITO polnts.
Aside from a continuation OF earIier
selling and bear news, there was notn-
ing further to explain THIS AFTERNOON
weakness.
NEW YORK COTTON FUTURES
OPENING.
New York, Sept. 4.-Cotton futures
opened barely steady: October, 29.90c;
December, 30.15c; January, @.l0c;
March, S0.2Oc; May. 3O,2Sc.
NEW YORK COTTON FUTURES
CLOSING.
New York, Sept. 4.-Cotton closed
barely steady.
October, 29.01c; December. 29.35c;
January, 29,2Sc; March, 29.45c; May
29.52c.
NEW ORLEANS COTTON FUTURES
New Orleans. Sept 4,aCotton opened
steady: October 29.70c; December.
20 .76c; January, 2979c; March. 29.90c;
May. 29.95c.
NEW ORLEANS COTTON FUTURES
CLOSING.
New Orleans, Sept. action closed
steady at decline of 107 to 122 points.
October, 2995c December, 2S.97c; jan
uary, 28.96c; March. csc; May. 29.o5c.
NEW ORLEANS COTTON
New Orleans, Sept. 4.-Favorablee
weather over the belt. the absence OF
news regarding the tropical storm and
a poor Liverpool market sent the price
of cotton to lower levels on the open.
ing today. In the first half hour or
trading the active months lost 81 to
AS the decline progressed much
liouidation was forced on the long side.
Late in the morning the market was
easy at net declines of "A to So points,
Selling pressure was continued in the
afternoon session, being encouraged to
some extent by a lower foreign ex-
change market In the trading up to
/ o'clock prices went 81 to l19 points
under the close of yesterday.
LIVERPOOL SPOT COTTON.
Liverpool, Sept. 4.--Cotton; spot in
fair demand; prices lower; good mid :
ding, 19,71d; fully middling. 1920 /;
middiing, 1S.61d; low mddling. 1850;
good ordinary, 15.21d; ordinary. 1850.
Sales. 5000 bales, including 5.4OO Amer
lean. Receipts $4,000 bales no Amer
lean. Futures closed barely steady;
September, 1S.75d; October, 1S.SOd; Jan
uary. 1s90d; March, 1864; May, 1880;
July, 1S.77d.