The Chattanooga news. [volume] (Chattanooga, Tenn.) 1891-1939, 1920-03-20
MARCH COTTON FIRM
AT APPOINT ADVANCE

New York, March 20--The census re-
port indicating a total ginning OF H.
25S,1l7 bales from the crop of 1919
proved rather above expectations and
the market opened at an advance OF
fourteen points on March, but generally
nine to nineteen points lower. This was
due 10 renewed realizing for over the
week end. which was also promoted by
indications for better weather in the
south and rather an unsettled sentiment
over foreign affairs. The demand for
March was probably stimulated to some
extent by the action OF the board of man
ayers OF the exchange in suspending the
trading limit of Q cents per pounds on
March contracts only. from March 90
TO March 25. inclusive, but the demand
was not active and that position held
around 40Q39c during the early trading.
or only fourteen points above last
nights closing quotations
Covering Of March became a little
more active during the middle of the
morning, and that position sold up to
40.44c. or 10 points net higher. Later
months however, showed an easier ten
dency as result OF continHed realizing
for over the weekend, the easier ruling
of New Orleans and better weather
October to 32c. or 26 to 80 points net
lower, and the market closed barely
steady at a net advance OF 10, points
on March, but generally S to 23 points
NEW ORLEANS COTTON.
New Orleans, March 2O.-The unfa-
vorable political news from abroad and
the refusal by the senate to ratify the
peace treaty combined with a some
what, larger ginning total for the sea-
son than expected caused heavy SELL
ing OF cotton on the opening today, and
drop in prices around the first call
OF from "a to 65 points. Determined
support was offered the market at the
decline, and after the first burst of
selling was over the tone steadied, and
almost complete recoveries came about.
At the end of the first half hour of
business prices were only 2 to points
under the level of yesterdays close
Inc census bureaus count of total GIN
ming bales, compared with an average
expectations of around IL, 100, 900
The reaction from the decline did not
last long, and when the sellers got
their second wind they exerted more
pressure against the new crop months
that during the late trading much
liquidation came from holders of long
contracts in the distant positions. To-
ward the close the new crop months
were AZ to At points under the final
prices OF yesterday while the old crops
were Is to 20 under, not making as
wide declines as during the initial
break.
NEW ORLEANS COTTON FUTURES
CLOSING.
New Orleans, March 20.-Cotton flu
lures closed barely steady at a decline
of 10 to % points; March, 39c: May,
3752c; July 3496c; October, 31.S7c; De-
cembcr. 310Sc.
NEW ORLEANS COTTON FUTURES
OPENING.
New Orleans, March 20.-Cotton flu
lures opened irregular; March. 39.25c;
May, 3H25c: July, 35c; October 3202c;
December, 81 zoe.
NEW YORK COTTON FUTURES
OPENING.
New York. March 20.-Cotton futures
opened steady; March, 40.39c; May,
3780c July, 35.1Oc; October, 81. loo; De-
cember. 3l.2Sc
NEW YORK COTTON FUTURES
CLOSING.
New York, March 20.--Cotton futures
closed barely steady: March, 40.35c;
May, 2rS7c; July, 351Oc; October, 32.11c;
December, 31.33c.
NEW YORK SPOT COTTON.
New York, March 10.-Spot cotton
closed steady; middling, $14.25c.