Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1920-03-23
COTTON

NEW YORK March 22.-Relatively easy
cables with prospects for better weather in
the south and lower foreign exchange rates
led to further realizing and scattered local
selling in the cotton market at the opening
today. First prices were 10 points lower to
8 points higher with May selling at VIZ
and October at 80 or about to 10 points
below Saturdays closing. There was very
little pressure however, and the market
soon frmed up on continued trade buying
with early sellers covering on the rally to
3S 90 for May and 80. 80 for October. Pri-
vate cables reported a small market in Liv-
erpool with poor tone owing TO hedge sell
ing and nervousness over German affairs.
There was March for sale around 40. Al
during the earlier trading but later the
price advanced to 40.73, or 80 points, net
higher, and later months sold about p to "a
with May touching 3S.OS and October 32.37.
Part of the buying was to fix prices for
the trade, while there was covering by
early sellers and buying for New Orleans
account. General business was not active
with the market comparatively quiet at
midday, although prices held within a few
points of the best.
Prices advanced out of proportion to small
buying power in the afternoon and bore
testimony to scarcity of contracts for sale.
Under stimulus of New Orleans and com
mission house bidding new highs were made
in the last hour. At 2:20 the list stood
up 80 to rs points with March continuing
it's record climb at lilo. Exports for the
day included 53,114 bales to England and
NEW YORK COTTON
The following were the ruling prices in tine
exchange today.
Tone steady; middling, 42c, quiet.
last Free
Open. High. low Sale Close Cl; SO
Jan. =. 30.93 81 80 80. 80 31.30 31.2S So 81
N1ch. A Al. 70 40. 40 20 Al. 20 40. %
May :. 80. rs 3s. 40 37.72 SO. 43 3s. 40 81 81
July >. 90 81. So 81 .9S So SO 35. rs 81. 10
Oct . 32.10 80. 81 81. O4 80. go 80. 81 80. 10
Dec E. 31.27 81 90 81 .27 81 90 81 30 81 SO
NEW ORLEANS COTTON
NEW ORLEANS, March 22.-The unfa
vorable German news and clear and dry
weather over the belt caused selling of cot
ton on the opening today with the conse-
quence that prices lost 6 to 81 points around
the first call. The market acted somewhat
oversold at the decline and when shorts
tried to take their rofits they found only
small supply of contracts, the initial selling
wave being quiskly spent Fear Of bullish
operations in the March position increased
the demand so that the decline was quick
ly recovered and replaced by advances over
Saturdays close of 10 to % points. May
fell off to 81. 35 and reacted to 1892.
Buying continued until the active months
were % to IS points over the closing quo
tationS of last week but toward noon the
tone became easier under realizing by longs
and the market fell off to net advances of
10 to Is points.
Heavy exports for the day, 56,5O7 bales
from all ports against 16,0S0 this day last
year, stimulated anew demand and in the
trading up to 1 O'Clock the active months
went to levels of % to AZ points Sat
urdays final prices, all months but May
making new high levels for the day. Oc-
tober rose to 1926.
NEW ORLEANS COTTON
The following we're the ruling prices on
the exchange TODAY:
Tone, firm; middling, 41c, steady.