The Chattanooga news. [volume] (Chattanooga, Tenn.) 1891-1939, 1920-10-23
RENEWAL OF BUYING
FIRMS UP COTTON

New York, Oct. 23.--There was re-
newal OF the buying by Liverpool and
houses with other foreign connections
at the opening OF the cotton market r
at an advance OF II TO 80 points. The
continued demnDh from Liverpool
strengthened a hope that British labor
troubles would soon be settled, and
there was further local covering on the
advance to 20.25c for. December and
opening OF the New Orleans market was
followed by New Orleans selling here,
however, while there was bearish COM
ment on the weekend reviews OF the
goods trade and weekly statistics show
Ing small splnner's taking. These fea-
lures combined with realizing by recent
buyers, checked the upward movement
and caused reactions OF 20 or 30 points
from the best during the early trading.
Realizing sales were readily absorbed
on the slight early reactions owing to
continued Liverpool buying and cover
ing. The latter became more active
and excited later in the morning and
December UP TO 81 .O0c and Jan. to
20. 75c, or 81 to 107 points net higher
on active months. Reactions of 30 or
40 points followed under profit taking
with the market closing Irregular at
net advance OF 40 TO 20 points. Re-
ports that Gov. Parker, OF Louisiana,
had called upon gins to Immediately
caused a coed deal OF comment. but
was Tot generally considered an i'm
portant influence on the advance.
A futher advice Of fully Sc q bale oc-
crrret In the cotton market here this
morning, owing TO co 1tinued buying by
Liverpool and increasing optimism over
prospects for a settlement OF the Brit
oh labor fpAtthIaa Cntfnn for IlaNQfn-
Der delivery sold at 81 DOC. or 1903 points
above the closing prices of yesterday
and more than Sc a pound above the
low figure touched on the decline Of last
Monday.
NEW ORLEANS COTTON.
New Orleans. Oct. 23.--Much evening
up came on the cotton market today
and selling out by longs caused recess
sions OF IL to rs points before the trad
ing had gone very far. December
dropped to 1920. Fear that the move
ment to stop ginning would make a
very tight situation In the spot depart
ment brought in considerable demand.
on which there were full recoveries and
finally an advance, which carried the
terday's last quotation, December ris-
Ing to 10 SOC.
After midsession the market became
very strong on the belief that the proc
lamation by Gov. Parker Monday. call
ing upon the ginners OF Louisiana to
stop ginning, would be the big factor
in the situation and would be followed
by similar action in other states In the
belt. Rumors of favorable develop
ments in the English labor situation
also helped the market and In the last
few minutes of the day the trading
months were sent 81 to Ss points higher
than the close Of yesterday. December
touching 20. 35c.
NEW ORLEANS COTTON FUTURES
OPENING
New Orleans. Oct. 23:-Cotton futures
opened steady: October. 10. O5c bid;
December. 19.40c; January. 19.30c;
March, 10 csc; May, I9.00c.
NEW ORLEANS COTTON FUTURES
CLOSING. n.
New Orleans, Oct. 23.--Cotton futures
closed firm at net advances of 20 to 70
20; O6c;. March, 1890; May 1880;
NEw YORK COTTON FUTURES
OPENING
New York, Oct. 23.--Cotton futures
opened firm: December. 20. 00c; Janu-
airy, 10 Csc; March. 2O.1Oc; May, 1880;
NEW York COTTON FUTURES
CLOSING.
New York. Oct. 23.--Cotton futures
closed irregular: December, 20. SEC;
January, 2O.45c: March. 20 Soc; May,
new is oRiE cans SPOT COTTON.
New Orleans, Oct. 23.--Spot cotton
steady; quotations revised; middling rs
points up; sales on the spot. 229 bales;
to arrive, 1852 bales; low middling,
Il, soc; middllng. 19.75c; good middling,
81 75c.
Receipts. 1928 bales; stock. 26s,oso
hu1Ae