The Chattanooga news. [volume] (Chattanooga, Tenn.) 1891-1939, 1920-09-08
COTTON BREAKS UNDER
HEAVY LIQUIDATION

- AAA AAOAb
New York, Sept. s.-The cotton mar
ket lost half a cent or more of yester-
| days advance duri lg today's early trad
ing. Liverpool was firm early on con-
tinued covering attributed to unfavor-
able crop accounts, but broke later I'M
der liquidation and hedge selling and
the market here opened steady at an
| advance OF points on October. but
generally to 10 points lower. Prices
held fairly steady during the first few
minutes on unfavorable weather reports
snd some foreign buying but soon weak
ened with October selling off from ~ .95c
to ~. ACC, and December from rs 15c to
rs. 63c under realizing and selling for
reaction.
The census report showing S67 ,241
bales of cotton ginned prior to Sept.
!, attracted comparatively little com
ment, but was considered as an addi-
tional indication OF late crop which
intensified the effect OF unfaVorable
weather and crop advices. There was
covering by both speculative and trade
shorts on the advance which followed
the early break and before mid-d
higher with October touching, 2s.45cc
and january 25.75c. This attracted
realizing, but the weekly report of the
weather bureau was considered more
very steady early in the noon hour.
After selling so to go points net
higher on the unfavorabe weather re-
ports, prices reacted under realizing.
with active months ruling about 10 to
II points net higher during the middle
Of the afternoon.
NEW ORLEANS COTTON.
New Orleans, Sept. S.--The refusal
of Liverpool to respond to the advance
OF yesterday in the American markets
caused a slump on the opening of the
ms
the first hour of business prices were
depressed to the extent of &c to 95
points, October falling to 26.10c and
March to 23.95c. The first ginning re-
port Of the season by the census bu.
to the first of September had no i'm
mediate effect on values.
The market did not hold well In the
late trading. longs being inclined to
take profits while there was less de-
mand for the short side. Toward the
close prices were IA points up to 65
points down. compared with yester-
days final.
The trade finally decided that the
ginning output was small and buying
movement started which precipitated
demand from bullish operators who
were looking for unfavorable weekly
crop reports from the government.
Prices responded to the buying and the
market became decidedly strong, after
the weekly WGTe lSSutu lot tHey
were considered fully as bullish as ex-
pected. All of the early losses were re-
covered and late in the morning prices
were to SO points over yesterdays
close, October showing the most
strength, and March the least. This ir-
regularity was due to the undoing OF
straddles between months, In which DC
toher was bought against sales OF the
distant months.
NEW ORLEANS COTTON FUTURES
OPENING.
New Orleans, Sept. 8.-Cotton futures
opened steady: October, rs .43c; De-
cenber, rs ,15c bid; January, 24.71c;
NEW ORLEANS COTTON FUTURES
CLOSING.
New Orleans. Sept S.-Cotton closed
steady, 6 points up to So down: DC
uary, 24,72c March, 24.2sc; May, 2S.95c'
NEW YORK COTTON FUTURES
OPENING.
New York. Sept. S.-Cotton futures |
opened steady: October. n soc; De
cember. 26. O0c; January, rs zoe; March,
NEW YORK COTTON FUTURES
CLOSING.
New York. Sept s.-Cotton closed
steady: October 27.95c: December,
26. 1sc; January. 25.25c; March, 24.S5c;
may liverpool COTTON.
Liverpool, Sept. S.--Cotton spot more
inquiry: prices firm; good middling,
"a SID: fully middling, 90 47d middling,
81 97d: low middling, 1910; good or
binary. 14.72d; ordinary, 1924; sales.
5000 bales including 5,4O0 American;
receipts. 100 bales, all American; fu-
lures closed quiet: September. 10 Sid;
October, 19.51d; January, 1864; May,
coTToNsEED OIL
New York, Sept. s.-The cottonseed
oil market closed steady; prime sum-
mer yellow. $1s.OOd135o: prime crude.
nominal September. $14.oo; October.
S131S; November, $13.20 December. |
$1S25; January, 1890: February, 1884: |
March, 1889; April. s144O. Total
sales. 5000 barrels.
NEW ORLEANS SPOT COTTON.
New Orleans, Sept Spot cotton.
steady: 30 points higher; salc~ on the
spot. 4O6 bales; to arrive, none; low
mitldling, 2o.75c; middling. 20 25c; good
midding. 92.50c; receipts, LAPS bales;
stock 1877 935 bales.