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

NEW YORK, Sept. S.-The cotton market
lost half cent or more of yesterdays adj
vance during todays early trading. Liyer-l
pool was firm early on continued covering,
attributed to unfavorable crop accounts but,
broke later under liquidation and hedge
selling and the market here opened steady
at an advance of 8 points on October but
generally to 10 points lower. Prices held
fairly steady during the first few minutes
on unfavorable weather reports and some, Tor,
eiyn buying but soon weakened with 0cto-
Der selling off from 27.95 to 81. 40 and De-
eembcr from 10 to 1888 under realizing
and selling for a reaction.
The census report showing 367,24I bales
of cotton ginned prior to September 1 at
tracted comparatively little comment but was
considered as an additional indication of
a late crop which intensified the effect of
lIrfayorable weather and crop advices.
There was covering by both speculative anG
trade shorts on the advance which followed
the early break and before midday active
months sold 8. to 90 points net higher with
October touching 2S.45 and January 25.75.
This attracted realizing but the weekly re-
port of the weather bureau was. considered
more bnllish than expected and prices held
very steady early in the noon hour.
After selling 80 to go points net higher
nm the unfavorable weather reports, prices
reacted under realizing. October eased off
from assoc to oS.0Tc, with active months
ruling about 10 to II points net higher
during the middle of the afternoon.
NEW YORK COTTON
The following were the ruling prices in
Tone steady; middling, s1.75c. quiet.
Open. High. Low. Sale. Close. Close.
5an. ...o5. 90 25sS5 24.75 25.25 %. % 80
Mch. Is IS %. 40 2. So 4.S5 81. IS .9S
May ...24.6e 1922 PHO 24.5o af.55 40
July ...-.... ..... ..... 24.55 24.4o
Sept. .... -. 49,. 80. $3.50 rs. 60
Oct. ~. 80 %. 80 27.ss 81. 95 29.95 q so
Dec. ...20. 90 &c. SO q. 60 1920 6.1s 26,20
NEW ORLEANS COTTON
NEW ORLEANS, Sept. S.--The refusal
Of Liverpool TO respond to the advance rof
yesterday in the American markets caused
slump on the opening of the local cotton
market today and during the first hour OF
business prices were depressed to the exr
Is 10 and March to 1896. The first ginning
report of the season by the census burean;
showing 36T,241 bales turned out TO the
first of September had no immediate effect
en- values. 80
eutput was small and buying movement
started which precjpitated ademand from
oulish operators were looking for unfayor-
able weekly crop reports from the govern
uent Prices responded to the buying and
the market became decidedly strong after
the weekly reports were issued for they
wre considered fully as bullish as expected.
All of the early losses were recovered and
late IN the morning prices were to %
points over yesterdays close, October show
ing the most strength and March the least.
This irregularity was due to the undoing
of straddles beteewn months, in which Qc-
sober was bought against sales of the dis
tant months. &
trading, longs being inclined to take profits,
while there was less demand from the short
side. Toward the close prices were IA
points up to Go points down, compared w1tE
a1<1 do . final