The Chattanooga news. [volume] (Chattanooga, Tenn.) 1891-1939, 1920-09-24
MINING NEWS
AFFECTS COTTON MARKET

New Iork, Sept 49, ANouiHb ""o
decidedly mixed at the opening OF the
cotton market today. owing TO favorable
British mining news on the one hand
and weakness In spot cotton and re-
ports OF general cutting OF prices on
the other. First quotations were steady
nj n net decline OF 20 points on nearer
positions to all advance OF 80 points
on the distant months.
Shortly after the call prices showed
general Improvement, although the
neaEer deliveries failed TO regain all OF
the early losses.
The midday rally OF some 30 to 40
points was promoted by large exports,
ruled about 10 to 80 points net lower
around 2 o'clock with December selling
at 25, 23c. Except for covering, local
brokers reported very little demand. and
the bulges seemed to meet increased
offerings from the south.
TO inspire any fresh buying of conse-
quence and as soon as the demand from
shorts slackened, prices sold OH
sharply owing TO continued southern
hedging, local, Wall street and west
ern pressure.
had announced price cut OF from 80
to 40 per cent, evidently stimulate
bearish sentiment and the decline car
rled some months into new low ground
with December selling at "a .03c and
January at 20 CSC. or about 81 to AZ
points net lower; Trading then became
less active and there were rallies Of sew
eral points around midday on renewed
covering.
NEW ORLEANS COTTON.
New Orleans, Sept 24.-The early
trading today brought wide changes In
the price OF cotton. After small de-
clines on the opening call, the market
moved up to advances OF 10 to ~ points
over the close OF yesterday. October
advancing to rs .47c as the result Of re-
ports Of cables from England that the
coal strike practically had been set
tied. Heavy offerings caused q quick
break, so that at the end of the first
hour OF business October was on to
"a. 66c, and the list showed net losses
of 81 to 50 points. Some of this SELL
ing was due to the outlook for re-
turn OF better weather to the belt, but
much OF II was due to reports OF poor
trade In cotton goods.
Further cable reports from Liverpool
made the coal strike situation appear
I'll the trading months were "a to 10
points under the final prices of yester-
day, October falling to "a. 65c. Late
in the morning the tone. was steady:
shorts took profits and prices recovered
until they showed losses OF only to 30
points.
In the late trading the market broke
to new Tow levels under selling that
followed the receipt OF English CABLE
grams saying that there had been a
hitch In the Issuance of the notice OF
the postponement OF the coal miners
strike. october fell off to "a. SOC with
the fist showing losses Of 40 to 95 points.
NEW ORLEANS SPOT COTTON.
New Orleans, Sept. H.-Spot cotton
quiet; middling so points lower; sales
on the spot, 152 bales; to arrive. 600
bales; low middling, II 50ct middlins.
26 SOC; good middling. 2S.75c; receipts,
1913 bales; stock, 199,500 bales.
LIVERPOOL COTTON.
Liverpool, Sept. 24.-Cotton spot In
middling, "a. SD; fully middling, 90. 10d;
middling, 81 35d; low middling. II 55d;
good ordinary. IA 10d; ordinary, IL. lOd;
sales, 1000 bales, including 1,40O Amer
lean; receipts. 1000 bales, no American;
futures closed quiet: September. 1850;
october, 18. SD; January, IS .00d; March
IL Esd; May. 1900; July. $1,000.
NEW ORLEANS COTTON FUTURES
OPENING.
New Orleans, Sept. 24.--Cotton flu
lures opened steady: October, rs 200
rs 22c;; December. 90 35@23. 38c; Janu;
AIRY. % 25l@22 SIC; March, 22.O6c; May.
81 55c bid.
NEW ORLEANS COTTON FUTURES
CLOSING.
New Orleans. Sept. 24.-Cotton flu.
lures closed steady at net declines of
40 to 30 points: October. "a 36c: De-
cember. %. 90c; January, % Csc; March,
Il. 90c; May, u .42c.
NEW YORK COTTON FUTURES
OPENING.
New York. Sept. 24.--Cotton futures
opened steady: October. rs, CSC: De-
cember. "a. zoe: January, 23.35c; March
23. csc: May. % Use. 2.r
NEW YORK COTTON FUTURES
CLOSING.
New York, Sept. 24.-Cotton futures
closed steady: October, rs 95c; De-
cember, 23 .95c; January, % 30c; March,
20 SIC: May, % 35c.
SUGAR.
New York. Sept 24.--Raw sugar UNI
settled; centrifugal. SLOTS; refined
quiet; fine granulated, $14.25@i4.5O.