Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1920-04-01
COTTON

NEW YORK, March 31.-Private reports
of rains in the eastern belt led to more
active buying in the cotton market during
today's early session. The Liverpool cables
were without special feature but Liverpool
and domestic trade interests were good buy
ers here and the opening was firm at an
advance of IL to SO points. This led torac-
tive covering and prices sold up to
1887 for May and 1905 for October, max
ing net advances of At to 60 points and
new high records for the season on these
positions The south was among the leading
buyers presumably on the rains and the
early market was more active than any time
previously this week
Liverpool Japanese, leading spot interests
and commission houses bought and other
buying thought to represent short
ering. The ring took profits and there was
some hedge selling on the advance.
Bullish feeling was rampant and perplex-
tiles of the past few days seemed forgot
ten. This sudden change from hesitation
apparent in Tuesdays market was believed
the result of private advices predicting GER
tain defeat for Senator Corners amendment
due to come before confernc at Washington
during tn day.
The advance extended to 20. 55c for May
and PIC for October, with active months
showing net advances of about 60 to so
points during the middle of the morning.
ton creating a new form cbntract probably
stimula ted the demand from shorts, but bust
ness became less active toward midday and
there were reactions Of several points under
realizing. The first weekly report of the
season. issued by the weather bureau, was
rather less unfavorable than expected, but
said cotton was germinati ting poorly in Texas.
Late forenoon reactions were followed by
another buying movement which carried new
crop months into new high ground, with
October selling at 33. 47c, or 81 points net
higher while old crop positions rallied to
about the early point. There was continued
realizing; however, and midafternoon fluctu-
ations were somewhat irregular.
Record highs for the season were made
in the last hour, options being up so to 81
points. A broadening demand was noted in
all futures but was especially insistent in
October, which was up nearly So bale.
NEW YORK COTTON
The following were the ruling prices in
the exchange today:
Tone, firm; middling, 41.75c. quiet.
Open. High. Low. Sale. Close. Clss.
JAN 81. 40 2.4S 81 AS .4S so 81. %
May ..39. 90 80. so IS. 90 1917 39.75 49,
July .36. % SO 90 SO. 20 SO. 80 SO 90 36.07
Oct. ..32. 70 SO. 80 80 .7s SO. 80 rs 80 Sc
Dec ...32 .O2 33. O5 80. OF SO. O5 SO .03 80. SO
NEW ORLEANS COTTON
NEW ORLEANS, March 31.-Advances of
cotton in the early trading today, heavy
buying movement resulting from an unfa-
yorable opinion of the rains in the eastern
belt and the high water in the Mississippi
valley, both of which were accepted as fac
tors making for delayed planting. In the
first hour Of business prices rose 81 to 63
points, May touching $500 and October
$50
Realizing from the long slide followed the
initial advance, but recessions Of dollar.
a bale made the price attractive to new buy
ers, especially after bull1sh private bureau
reports on the progress of the new crop dur
ing the last week were received. reward
noon the active onths were higher than eer,
showing gains of So to rs points October
traded to 33.19c.
In the last part Of the session the market
turned active and became very firm, with
the net crop months bullying strongly on ex-
morning Toward the close prices Of the
active months were 70 to 10s points over the
finals of yesterday, with the new crop much
stronger tnan the old. october rose to 3So0c
NEW ORLEANS COTTON
The following were the ruling prices in the
exchange today
Tone, firm; middling, 41G, steady. p.o,
Open High Low. Sale. Close Close
+ Jan. .. 500. 800. 50. IA 81 90
Nav ..ss. AS 80. 10 IS. 40 80 10 sc. OF 1927
July ..s5. 80 SO. 80 81. 80 SO. SO SO. IS 81. SO
Oct. ...32. 20 SO. So 80. 6s SO. 5S SO. So 80 A
Dec. 81. 95 81. 81 81 .95 80. SO 80. "a 81. 70
NEW ORLEANS SPOT COTTON
NEW ORLEANS, March 31.-spot cotton
steady. so points higher. Sales on the spot,
.0O8 bales; to arrive, $40. Low middling,
80. 75c; middling, $41c; good middling, 44c.
Receipts. II, e96; stock 1856, 54e
SPOT COTTON MAK1sET
Atlanta, steady, 43c.
New York, quiet, 41.76c.
New Orleans, steady, Ale.
Philadelphia, steady, 42c.
Galveston, steady, 43.25c.
Montgomery, steady, 3975c.
Norfolk, steady, 39.50c.
Savannah, steady, 41c.
st. Louis, steady, 41.5Oc.
Houston, steady, 42.30c.
Memphis, steady, 40.50c.
Aurusto Sfoadv