The Chattanooga news. [volume] (Chattanooga, Tenn.) 1891-1939, 1920-10-28
STRIKE SITUATION
DEPRESSES COTTON

New York, Oct. 28.--Renewed ner-
| vousness over the British labor situa-
ton, lower Liverpool cables and the
failure OF early weather advIces to
show any sign OF the predicted frosts,
were the more prominent factors on
an early decline In the cotton market
today The opening was barely steady
at a decline OF 20 to Al points and the
active months sold 81 to SIS points. net
lower within the hrst half hopr under
LIQUIDATION, Liverpool and southern SELL
ing. Private cables reported general
selling In Liverpool absorbed by trade
buying to fix prices on call sales at
the decline. December contracts here
sold off to 20. Coo and January to 20. iSc
ON the early break. making a decline OF
about &c per pound from the high prices
touched on the cary week rally.
The early selling movement carried
the market Off to 20 48c for December
and 20. 05c for January. or 40 to 90
points net lower on the general list. the
decline was then checked by reports
settled and the market firincd up again
during the middle OF the day owing 70
the closing strength OF Liverpool and
covering. The latter was promoted by
expectations that detailed weather re-
ports would show frost at some points
in the belt and prices recovered me
greater part Of their early losses win
January selling at 20 .55c. or within
points OF last nights closing quotations.
Both the strike settlement and frost
news seemed to have been discounted
by the advance to 20.72c for January,
which carried prices back to about last
nights closing quotations. The market
weakened later under warehouse and
Wall street selling promoted by weak
ness in stocks and grain, and with jan
uary ruling around 20 soc during the
middle afternoon compared with 20.7ac
at the close yesterday.
NEW ORLEANS COTTON.
New Orleans, Oct. 28.-The hitch In
tho negotiations to end the British coal
strike was the dominating factor In
cotton today. and II caused heavy SELL
ing on the opening and for some time
after, with the result that prices were
sent so to 60 points under the close OF
10 .15c for May. The market was steady
at the decline because of the cold
weather and frost reported In the cot
ton region.
The decline finally amounted to 50 to
SO points, but quick reactions followed
cablegrams from London and Liverpool
claiming that the coal strike actually
had been settled and late in the morn
ing December traded up to 20 .40c with
the list showing net losses OF only to
IL points.
Another period OF liquidation of long
contracts occurred, during which there
was drop to levels 50 to rs points UNI
der the close of yesterday, but In the
late trading the market developed sud
den firmness and made a most sur
prising show Of strength, the only rea-
son for which appeared to be the de-
termination OF big interests to run the
shorts to cover. Toward the close prices
were 46 to 81 points higher than the
final prices of yesterday and December
vvaR frading Mt FL .O0C.
OPENING.
New York, Oct. 2S.-Cotton futures
opened barely steady December,
20. 9sc: January, 20. sOc; March. 20. 15c;
May, 20. 00c; July, 10 SOC.
NEW ORLEANS COTTON FUTURES
CLOSING.
New Orleans. Oct. 2S.-Cotton futures
closed Arm at net advance OF S6 to AZ
20 .4sc; March. 20 .40c: May, 20. 10c; July
NEW NEW ORLEANS COTTON FUTURES
OPENING
New Orleans, Oct. 28.--Cotton futures
opened easy: November. 19.45c bid;
December, 10. 95@19 .99c; January, 10. Soc
bid; March. 1s.45c; May. 1890; July
y NEW iG.sv'' York COTTON FUTURES
CLOSING.
New York, Oct. 2S.--Cotton futures
closed Arm: December, 81 soc: Janu-
AIRY. 81. 10c; March, 20. S5c; May. 20. 75c;
New ORLEANS SPOT COTTON.
New Orleans, Oct. 2S.--Spot cotton
spot, 118 bales; to arrive, 869 bales; low
Is .75c; middling, 81 .00c; good
middling, 2S 00c; receipts, 8,S93 bales;
stock, 287,514 bales.