Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1920-05-04
COTTON

NEW YORK, May 3.--Reports that there
had been showers or rains in the eastern
sections of the belt over Sunday, combined
with better prospects for settlement OF
the lancashire wage dispute, the passing
of May day without any sensational devel-
opments abroad, and the stronger opening
tone of the stock market, led to sharp ad-
vanceS in cotton at the opening today. FIRST
prices We're unchanged to 60 points higher,
with late months relatively firm, but near
positions firmed up right after the call, the
general list selling about % to 55 points net
higher. This carried July up to 3S.45c and
October to sec, after which there were
reactions of 20 to % points under realizing.
The failure of the eastern belt rain news
and early advance to attract a broadening
commission house demand were evidently "a
disappointment to early buyers. The easier
tone of the stock market after an opening
advance also promoted a tendency to take
profits on long contracts and prices worked
lower late In the morning. July was rela-
lively weak, selling off to 3S.O5c or 10
points net lower while later months showed
reactions of some So to 45 points from the
best, with October selling at 35.59c, or only
10 points above Fridays closing. Brokers
with Japanese connections were credited
with selling July and October.
Trading quiet during the early after
noon, and there was little further change IN
prices, which, however, showed tendency
to sag under scattered liquidation. July
sold off to CSC, or about 20 points net lower,
but the new crop remained relatively steady
SOUTH with October ruling around 1901.
NEW YORK COTTON
The following were the ruling prices In
The exchange today:
Tone, steady; middling, Al .45c, quiet.
Open. High. Low. Sale. Close. Close.
Jan. :. $3.50 "a. rs "a. 40 "a. so "a. so 81. %
Mar. :. 81 .05 "a. 10 33 II 81. 95 ..... 80
May =. 4O. 40 &C. go 40. % 40. 45 40.45 OBS
July :. 1918 SO. As SO. 90 3S % 3s. 20 $500
Oct. =. 1855 SO. 90 So so So. 1910 35.45
Dec. =. "a. SO So 90 81. so 34.97 4.95 40
NEW ORLEANS COTTON
NEW ORLEANS, May 3.-Too much rain
in the eastern half of the belt caused rather
strenuous buying of cotton on the opening
today and for some time after, but after
July had risen to 3S.50c and the active
months were so to 81 points up the mEket
did a right-about face and reacted Sharply
on private predictions of rain in Texas. 10
ward the middle of the morning the trading
months were only 10 to 80 points higher
than the close of last week, July falling OH
to 3S.1Oc. Belief in rain for the western
belt was based on the low barometer over
that section of the belt.
Unfavorable reports concerning labor de-
velopments among New England mills were
largely offset by numerous complaints of re-
planting on a large scale in several states
in the belt and the market made@little price
change, standing late in the morning to 80
points over the close of Saturday, the dis
tant months being stronger than the near.
The market retained a rather easy under
tone into the late trading and toward the
close stood points down to % points up
compared with Saturdays final prices, July
being the weakest month and dropping to
37.95. Distant months were steadier than
the near because of reports of more rain
during the day in the eastern belt.
NEW ORLEANS COTTON
The following were the ruling prices in the
exchange today:
Tone, steady; middling, 41c, steady.
Open. High. Low Sale Close; Close
Jan. .. "a. so "a "a "a. % 81. AZ "a. 40 81 90
Mar. :. 33.72 80 81 SO. 70 33. IS 80. 50 3S 80
May :. 80. so 80. so SO. 80 80. 40 80. 40 80. 10
July :. IS. D 80. so SO. 80 1915 1910 IS. 90
Oct. E. $3.50 1916 81. 80 So. SO 35. 80 35 20
Dec. =. 34.S5 $40 s34. 60 "a. "a. 80 "a. Al
NEW ORLEANS SPOT COTTON
NEW ORLEANS, May Spot cotton
steady and unchanged; sales on the spot,
SAT bales: to arrive, none. Low middling,
see; middling 41c; good middling, Assoc.
Receipts, 5,022; stock, 336,361.
SPOT COTTON MARKET
Atlanta, steady, 42.25c.
New York, quiet, Al. 45c.
New Orleans, steady, Ale.
Philadelphia, steady, 41.7Oc.
Galveston, steady, 42c.
Montgomery, steady, 41c.
Norfolk, STEADY, 40.50c.
Savannah, steady, 41.50c.
st. Louis, steady, 42c.
Houston, steady, Csc.
Memphis, steady, 42c.
Augusta, steady, 40.SSc.
Little Rock, steady, 41.75c
Dallas, steady, 4G.50c.
Mobile, steady, 4O50c.
Charleston, steady, 4050c.
Wilmington, steady, 40c.
T. Boston, steady, Al CSC.
ATLANTA SPOT COTTON
Atlanta spot cotton ......42.29c
Receipts .........'. 200
shipments .'ss''.'''.''' tOo