Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1920-09-28
COTTON

NEW YORK, Sept. 27.-There was a re
newal of active general renewal of active
general selling in the cotton market at the
opening today, and all months made new
low records. The selling for southern
account was particularly active, leading te
.rumors of further weakness in the southern
SPOT markets, while there appeared to bt
very little demand, aside from the profit
taking of shorts. First prices were steady,
unchanged to 81 points lower, and the active
months soon showed ret losses of 35 to 20
points, with October selling at 2497c and
January 22.1Sc. London reported a more
optimistic tone in the stock market there
on the prospects for a settlement of the
coal dispute, but Liverpool showed no i'm
proYement, and bearish sentiment here was
promoted by reports of further price cutting
and run on another 6oston bank.
Trading was more active than at any
time for months, and the feature was the
heavy selling for southern account. Liver
pool cables received mere said the Texas
basis was broken, and October in the Liver
pool market broke III English points, equal
to over 2 cents a pourd. This, with rumors
that cotton was ccmirg here from Memphis
: for delivery, stimulated selling of October
around the local ring, and the price was
depressed to soc, or 145 points below the
30 points tlCwer, with December touch
ing 220Sc and January Il: SOC. The selling
became less aggressive at these figures, and
there were rallies of half cent or so
early III the noon hour on reports Of an
other tropical storm threat in the gulf.
The midday rallies were followed by re-
newed weakness with prices making new
low ground during the middle of the after
noon. October sold off to 1895, or ITO
points net lower while later months showed
losses of 1T TO 1875 points, with January
selling at 21.35 under continued offerings
from the south and renewed local pressure
NEW YORK COTTON
The following we're the ruling prices In
Tone, weak; middling, 26c; quiet.
Last Prev.
Open High. Low. Sale. Close. Close.
Jan. :. 90. so % so 10 20. 90 20. so %. 10
Mar. :. PIG 90 20 20. 50 20 40 20. 40 %. 35
Nay >. Il 80 90 90 20. % 20 35 20. 25 22:O0
July :. II. so 81. GO 1896 10. 80 10. so q. so
Oct. :. 40 % As %. G5 % 65 % .G5 %. IS
Dec. =. o. so y .O5 81. 80 81 As 81 40 % .25
NEW ORLEANS COTTON
NEW ORLEANS, Sept. 21.-Wide declines
were made by cotton today under selling
stimulated by Secretary Houstons state
ment regarding the financing of commodi-
ties for owners who desired TO keep them
highly unfayorable to the holding movement
inaugurated by cotton growers: Cables were
poor and increased tie offerings. At the
end of the first hour of trading prices were
20 to 127 points under the close of Satur-
day. October traded down to 225oc ana
March TO 20.64c.
Reports of much lower prices for spots
in the interior swelled offerings still fur
Their and the market turned very weak I'M
Ger the report that some Boston banks were
recurring 80 days notice for withdrawal
from savings deposits. The trading months
were sent to levels Ill to 172 points under
the close of last week, October 22O5 and
March 20. 80. Late in the morning the de-
cline was checked by the storm warning be-
cause of a disturbance in tn east-central
Gulf of Mexico and because Of reports from
Texas that many farmers were discharging
their pickers.
Rumors that banks in the middle west
were refusing to lend money on foodstuffs
put the market to new low levels in the
late trading active months being forced to
declines of 123 to 172 points. October went
to @ OF and March to 1870
NEW ORLEANS COTTON
The following were the ruling prices in the
Tone, steady; middling, 24c: steady.
Open High. Low. Sale. Close. Close.
Jan. :. 81 Is Il. As 1914 10 1914 81. IA
Mar. :. 20. 95 81 .22 10. 43 10 .43 10. 43 81 .43
May =. 2o.7O &C. so 10 .OS 19. 20 1905 81. 02
July >. 20. 90 &c. 20 1850 80 1910 20. so
Oct. :. q. 20 % 80 21.77 21.77 21.77 23.77
Dec, 81. rs 81 .S5 2O.3O 20 80 20.30 o.
NEW ORLEANS SPOT COTTON
NEW ORLEANS, Sept. 27.-Spot cotton
quiet. 200 points lower. Sales on the spot
fno