The Chattanooga news. [volume] (Chattanooga, Tenn.) 1891-1939, 1920-07-29
BEARISH NEWS CAUSES
new BREAK IN COTTON

Now York. July 29.-7Bearish news
from all quarters caused another break
IN the cotton market today. After an
opening decline OF to 81 points, the
market yielded to Wall street. local and
southern selling, influenced by a private
condition ngure OF 1915 per cent, with
nm estiamte OF 13,10O,O 900 bales for the
crop, and by further weakness In for
eign exchange and favorable weather.
Prices sold off 80 to AZ points under last
night, october touching 80. lac. Decem-
Der, 80 sac and October, 30.1S..
Still greater weakness developed
around midday when October sold as
low as 80. 02c. December, 30.61c and
January, 20 SIC, the whole market
showing a. net loss OF AZ to IS points
under pressure due to the favorable
weather forecast, but attempts by shorts
TO cover resulted In quick reactions of
20 to 40 points and the market at noon
showed much better undertone.
Dizziness prevailed In the early after
noon with the undertone steady and
prices about Is to 80 points net lower.
NEW ORLEANS COTTON.
New Orleans, July 29.--Favorable
weather over the greater portion OF the
belt poor cables and private bureau
report on condition of 1876 per cent. OF
bales, caused heavy selling Of cotton
today and during the first hour OF busi-
ness prices dropped so to So points. Oc-
toher fell off to 81 .07c and March to
20 35c.
The selling movement, continued I'M
til prices were 50 to 90 points under
the close of yesterday. Early sellers
started realizing and their demand for
covers checked the decline and brought
about small recoveries. Toward noon
the active months were at net losses OF
80 to So points.
In the late trading the market moved
within a narrow range. but maintained
n steady tone, mainly as the result of a
private bureau report on condition or
73 per cent. In ,dicating q crop of H.
400 900 bales Toward the close prices
We're 81 to 81 points under the finals OF
yesterday.
NEW ORLEANS COTTON FUTURES
OPENING.
New Orleans. July 20-.Cotton futures
Der, 80 45c; January. 30 43@3O.l6c
March 20 SIC bid; May, 29.0Sc.
NEW YORK COTTON FUTURES
OPENING.
New York, July 29.--Cotton futures
opened barely steady: October, 81 aoc,
December. 81 zoe: January. $4,000;
March, 30 .07c; May, 20. 55c.
NEW ORLEANS COTTON FUTURES
CLOSING,
New OFleaHSp July 1J-NLottOi lHs'
closed steady at net declines OF "a 10
So points: October 81 .23c; December,
20 &c. January, 29.SSc; March, 1880;
IN New YORK COTTON FUTURES
CLOSING,
New York, July 29.-Cotton futures
closed very steady: October, 30 22c
Decembera, 81 .00c; January, 3O.30c
March, 20 .S6c; May, 20 40c.
NEW ORLEANS SPOT COTTON.
New Orleans, July 29.-Spot cotton
quoted rs points lower; sales on the
spot, 1858 bales; to arrive, none; low
middlng, 28. soc; middling, 80 Csc. good
middling, 43 soc; receipts, 1893 bales;
stock, 242.718 bales.
LIVERPOOL COTTON.
Liverpool, July 29.-Cotton spot In
fair inquiry; PRIZES easier; good mid
ding. 28 SD; fully middling. 81 .29d low
middling, 90. 24d; good ordinary, Odd;
ordinary, IS. Dad; sales. 5000 bales. In
GLIDING 5.400 Americana, receipts, 5000
bales, including 1900 American: futures
closed barely steady: July, "a God: Oc-
tober 20 SD: January. 21.31d; March
20 SD; May, 20. 3Sd
coTToNsEED OIL.
New York. July 29.-The cottonseed
oil market closed weak; prime summer
yellow and prime crude unquoted: Au-
gust, $3.50: September. S12.81; October.
$1,000; November STATS; December.
1888; January. $3.50; February. $127O;
March, $12.75.