Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1920-07-29
COTTON

NEW YORK, July 2S.-With only mod
crate trade, the cotton market had rather
n firm opening today with prices unchanged
To IL points higher based on support from
southern commission houses and Wall street,
and on the firmness Of cables due to Man
chester buying. After the opening, prices
advanced 16 to Is points over last night,
with October Mt 1926, and December S1.1o
mainly on covering, but reacted about to
10 points from this level under the report
Of 4 southern cotton house, making condl-
Hon 1856. or an increase Of Al per cent
over last month.
The only feature in the earlyk afternoon
was a steadier tone to October contracts on
covering orders, which advanced 1t a point
over last nights close and about "a points
I'D from the lowest of the day. The later
positions were firm and 25 to 60 points net
higher, December selling at o1.Zoc, January
80 SOC and March 30.25c.
Following the publication of the weekly
crop report, the market weakened to 32'I
for October and 30.e5 for December, or
from to 33 points under the previous
nights close, but later recovered about 1o
points on a demand from shorts and new
buying due to a belief that the market IS
srsecderably oyersold.
Few YORK COTTON
The following were the ruling prices in the
Tone, steady; middling, 4oc, quiet.
Open. High. Low. Sale. Close. Close
Ian. 80. 25 80. 60 80. 10 80. Sc 5000 80 %
Mch. ..29 IS 3d. SO %. 20 80 So 80. % % IS
May 20. 20 %. 95 20. 10 %. So 80 29.15
Oct. ...s2.45 go 32.15 52.45 32.45 $3.50
Dec. ...31. 90 81. 40 a0.s5 31.30 1.26 5000
NEW ORLEANS COTTON
NEW ORLEANS, July 2S.-Early swings
in the price of cotton today carried the mar
ket both above and below the Level OF yes
terday's close. Professional traders were
with the market on the theory that 1t was
oversold and their buying, combined with
the effect of a good Liverpool caused al
yances of 10 to A points around the f1rst
call. better weather map than expected
led to new selling under which the market
lost most Of its advance and Landed at the
end of the first hour Of business ~ points
dcwn to Il points up, compared with yes
terday's last quotations. March was the
strongest month and 1t traded up to % go
after which it reacted to $3.50.
The weekly crop reports were considered
fairly favorable but when shorts tried to
take advantage of the soft spot which they
considered would follow the reports they
bid the market up on themselves. The ring
became very active and prices f1rmed up
rapidly, late in the morning rising to levels
% to 90 points higher than the close OF
yesterday. October touched 81
March continued to widen us gains, Out
other months did not make new highs
March rose to ao:o1c, where it stood s.
points over yesterdays close. Toward the
close the market became more irregular
than ever, showing net loss of .. points
on October and a net gain of points on
March.
NEW ORLEANS COTTON
The following were the ruling prices in
the exchange today:
Tone, steady; middling, 80 SOC, steady. .
Last. Prev.
Open. High. Low. Sale. Close. Close
Jan. 30. so 80. SO % 80 O.3O 0.30 % Is
Mch .29 80 80. OF 20 80 so. 90 %. 9S %. 10
May ...2s.7o 29.4O %. So 90. 80 1928 %. 40
Oct. Bib 81. SS 81. 33 1877 31.57 81.
Dec. ...3O. 40 80. 81 80. "a 3O.79 3O.77 80. SO
NEW ORLEANS SPOT COTTON
NEW ORLEANS, July 2S.-Spot cotton,
quiet, IS points lower. Sales on the spot, spot
$50 bales; to arrive, none. Low middling,
2S.T5c; middlinG, 50 SOC; good-niddling,
43.15c. Receipts, 1,315; stock, 241,S
LIvERPoo LCoTToN
Tone, steady; sales 5000; good middling,.
2S. SD