Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1920-03-20
COTTON

| NEW YORK, March 19.--The advance in
sterling exchange seemed to fully offset
lower Liverpool cables, and the cotton mar
ket here opened today firm at an advance of
to % points. There were two March no.
tees issued, the first so far this month, and
March sold at 40. 25 at the start. or 4
points net lower but rallied to 40.S3 on the
call, which made new high record for the
season. The buying of later months was
probably influenced by overnight reports of
an unusually good foreign demand in east
ern belt markets for this season. and local
trade interests were good buyers Of May on
the advance to 3S. 43 for that position, or
AZ points net higher.
Active months sold SO to 40 points net
| higher during the middle of the morning,
but at 3S.43 for May and 32.46 for Octo-
Der, there was more realizing. Reactions
of Is to % points followed, but the market
became less active and later fluctuations
were irregular with the tone holding steady
around midday. 1t is said that one of the
Italian shipping firms here received cable
gram from it's home office in Genoa otday
asking it not to accept any further cotton
bookings for Italian ports ION account of
embargo" Other Italian firms reported no
such instructions and local traders appear
ed to be without any information regarding
the conditions referred to.
The market was easier during the mid
die of the afternoon under increased real
izing for over weekend, with May selling
OIL 10 OI.SZ, or ID points net lower. new
crop positions were relatively steady, with
October holding around 1890, owing to I'M
favorable weather reports from the south.
In the last hour near months were easier
on profit taking, being off 8 to 10 points.
New crops were up % to 81 points.
NEW YORK COTTON
The following were the ruling prices In the
exchange today:
Tone, steady; middling, 41c, quiet.
Omen. High Low Sale C,ose elise
Jan. :. 30.S5 81 .16 80 50 30.95 80. 90 80. 65
Mch. 40. % 40. 80 40. 20 40. 25 40. % 40. %
May :. IS. 10 SO. 43 81 80 81. 92 81. 81 SO. OF
July =. 35 .3s 81. 70 So 20 81. 80 80. 80 35. 80
Oct. :. 80 80. 90 80. IS 81. "a 80. "a SO. OG
Dec. :. 31.40 31.75 81 .33 81. AZ 81. "A 81 20
NEW ORLEANS COTTON
NEW ORLEANS, March Discontinued
rains in the belt gave the cotton market an
upward trend in the early trading today and
after the call the rise in the rate of ster-
ling exchange was strong bullish influence.
Buyers found no great quantity of cotton
for sale and the short element was dis
posed to cover its commitments. At the
end of the first half hour of business prices
were 80 to 3s points higher than the close
|of yesterday. May traded up to 3S.12.
Much realizing was met around the mid
die of the morning and 1t caused reactions
Of from 10 to 20 points but the market held
steady on expectations Of favorable weekend
statistics and comparatively small ginning
returns In the final report Of the season due
tomorrow morning. Toward noon prices
were at advances Of 81 to 81 points COM
pared with yesterdays finals.
The demand for the new crop months in
creased on continued comploints from the
interior regarding the new crop outlook and
advances on them were widened while the
old crops did not increase early gains. In
the trading up to l O'Clock the advance
amounted to SO to 81 points at one time and
December was the strongest month, rising
to 81.
NEW. ORLEANS COTTON
The following were che ruling prices or