Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1920-11-23
OBSERVATION-DISCLOSURES
COTTON

NEW YORK, Nov. 22.-The cotton market
showed continued nervousness and irregular
ity during today's trading. The opening was
steady at a decline of 20 points to an ad-
vance of % points with active months sell
ing about % to 81 points net higher after
the call on covering. Liverpool buying and
Ruving for a reaction. The latter was en-
couraged by the better tone of the opening
stock market and advance in sterling ex-
change, but Liverpool was very weak after
an early advance. and there was a, renewal
OF southern selling III the local market. jan
nary soon eased off from IS. % to 16 90 and
March from 1920 to Is. SIS. within a few
points of Saturdays closing. The census re-
port showing S,920,77 bales ginned prior to
November II was u shade over expectations
but was not considered an important factor.
Bearish southern spot advices and a re-
newal of December liquidation weakened the
market later, and there wa sd break which
carried some positions into new low ground
Tor the season. December sold off to 100,
or 20 points net lower. while contracts for
delivery next October sold at 400. Gov
ering checked the decline around 1913 for
January and there were rallies of 80 or 30
points from the lowest toward midday, but
they were not fully sustained.
Reports of q better tone in the stock
market helped cotton during the early aft
ernoon and there were rallies of 80 to 30
points from tn eloweSt with January ruling
around 1913. Afternoon advices from Sa-
vannah reported an improved spot demand.
NEW YORK COTTON
The following were the ruling prices IN
the exchange today:
Tone, steady; middling, 7.1Oc quiet,
Open. High Low. Sale. Close Close.
Jan. ...15.75 16.25 .43 1920 1915 Is. IS
Mch. ..15. 70 Is. 20 Is .35 IS 0S 16. 05 10. SO
May ...15. rs 1916 Is 80 16. 90 Is. 9S Is. so
July ...15.7O .9s 15. 10 1915 1915 49,
Dec. ...16.O5 Is. 80 10 so .35 1880 Is. %
NEW ORLEANS COTTON
NEW ORLEANS, Nov. o2.-Heavier gin
ming returns from the census bureau than
expected, S,920,776 bales to November IA,
were responsible for a drop of to 20 points
In the prices of cotton around the opening
OF the market today. Heavy profit taking
was done by shorts prices fell and quick
reaction resulted, the trading months recov-
ering their losses and standing 90 to AZ
points over Saturdays close at the end of
the first half hour of business. December
fell of to 10. 20 and then advanced to 10 so.
The recovery did motto lasto. After the
ginning figures had been digested they
caused more selling than ever and the mar
ket broke again, this time to net declines of
" to 81 points, December touching the new
low level for the season of II. 81 in the trad
ing up to II O'Clock.
Realizing by shorts and reports of a more
favorable financial situation in the interior
with some factors soliciting consgnments
OF cotton under the agreement to advance
loans against them caused another upturn
and at 80 O'Clock prices were 10 to 10
points higher than the close of Saturday.
NEW ORLEANS COTTON
The following were the ruling prices in
the exchange today:
Tone, steady; mddllng, Ice, steady.
s. Last Prev.
Open. High. Low. Sale. Close. Close.
Pan. lib. 10 Is. IS 40 10. As 5.4s Is. 27
Mich. ..15 20 Is. 81 IA. II 15.42 10 40 Is 20
May ...14 80 10 As Il. 60 10. % Ia. 2S Is. Oa
July ...14 so 1927 IA. 80 Is 10 A. 81
Dec. ,..15.25 1850 14:S2 1913 Is As Is. 40
NEW ORLEANS SPOT COTTON
NEW ORLEANS, Nov 22-Spot cotton,
quiet, % points lower. Sales on the spot,
163 bales: TO arrive, 1850. Low middlng
lie; middlng Ice: good middling, 1S.25c
Receipts, 9,579 stock. 376, 766