Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1920-03-16
COTTON

NEW YORK, March 15.-The unsettling
influence of the German news was consid-
cred responsible for weak Liverpool cables
aand let to some scattering liquidation at
the opening of the cotton market here to-
day.
First prices were 90 to 81 points lowe-
with active months selling 46 to IS points
lower than Saturdays closing during the
first few minutes. There was acti'e
trade demand at the decline, however, and
the market recovered nearly half its losses
shortly after the call. July sJld off to
33 so and rallied to 80. Y.
Trading was quiet after the first rush
Of liquidation subsidized and the market
showed a decidedly firmer tone later on
the old crop months. The comparatively
steady ruling of the stock market seemed
to promote a more optimistic view of the
German situation which was evidently shared
by cotton shippers, with European connec-
tions. May sold up to $3.50. or within
point of Saturdays closing, while July
rallied to 34.08, or six points net higher.
New crop months were held back by better
weather prospects but recovered most of
the early losses.
In the last hour options rallied so to 81
were up Is to 35 points net, largely on short
coverings. The trade was also a heavy
buyer. March was forced up to the highest
price cotton has ever reached on the New
York exchange touching 40. O3. moment
later 40. O5 was bid but there were no sell
lers.
Offerings were very light during the mid
die of the Afternoon and prcesi advanced on
continued covering. March sold at 1904,
the highest price yet touched, while other
old crop months also made new high ground
for the movement, with the general list
showing net advances of 20 to 3s points.
NEW YORK COTTON
The following were the ruling prices on
the exchange today:
Tone, steady; middling, -41c, quiet.
Open. high. Low. Sale. Close. Close
Jan. 1916 30.41 1915 30.41 s0.45 30. Is
Mch. ...39.75 40.O4 80. rs 40. 04 40. 90 80. rs
May ...36. 80 81. % SO. SO 81. 05 81. 90 sc. 80
July ...33. go "a. 43 SO so "a. % "a. 20 "a. OF
Oct. ...31 .13 1.ss 81 .02 s1.75 s1.74 31.59
Dec. ...3O.15 3O.95 80. IA 80. 81 80. 81 80. 90
NEW ORLEANS COTTON
NEW ORLEANS, March 15.-The tangled
state Of German politics caused heavy sell
ing in the cotton market on the opening to-
day and prices lost 80 to 81 points under
the pressure. Sellers received further en-
enlargement from the dry weather over the
cotton region, attended as it was by mod
crate tempera lures. American consumption
figures Of ,594 bales for February were
considered very favorable and they caused
a good demand at the lowest levels that
a. the end of the first half hour of trading
prices were back to within L. to Fl points
Of last weeks close. May dropped to 1861
and recovered to 37.00.
Early sellers tried to take profits and
found little cotton for sale. Reports that
French troops were entering Germany ap-
peared to be regarded as a favorable devel-
opment. Toward noon the more active
months were to 10 points over Saturdays
close.
In the afternoon the market acted over
sold and the apparent strength of it's tech
nical position brought in considerable new
buying for long account. In the trading UP
to 1 o'clock prices gained levels 81 to SO
points over Saturdays last prices, May ris-
ing to 1880 and October to 31.6S.
NEW ORLEANS COTTON
The following were the ruling prices in the
exchange today:
Tone, steady; middling, Ale. steady.
Last Prev
Open. High. Low. Sale. Close. Cldse
Jan. :. %. 92 80. 80 90 .92 30. 80 80. "a &c. 90
Mch. 80. 90 SO. so SO. 90 SO. so 80. 80 SO. AZ
May :. SO. 70 81. 80 SO. 81 81. 25 81. 25 81. IS
July :. 90 "a. 81 81. 80 "a. 55 "a. SO "a. 87
Oct. :. 81.O5 81. 6S &c. 80 81. SO 81. "a 81. SIS
Dec. =. 80. % 80. IS &c. 20 80. 20 80. 70 80. IS
NEW ORLEANS SPOT COTTON
NEW ORLEANS, March 15.-Spot cotton,
quiet and unchanged. Sales ON the spot, POP;
tn Tx. mid 90 mil