Atlanta semi-weekly journal. (Atlanta, Ga.) 1898-1920, 1920-03-05
COTTON

NEW YORK, March 4.-The cotton mar
ket showed strength at the opening today,
owing to the much firmer showing of Liv-
erpool and continued covering by old crop
shorts. March contracts made a new high
record while other old crop months made
new high ground for the movement and
after opening at an advance of to % points
active months sold IS to 81 points net
higher, March deliveries touched 1915, or
within So points of the highest price reach
ed previously by any contract this season,
while May sold at SIG, comparedw with
31.50 the low level of early last month.
The stock of certificated cotton here now
amounts to only 1923 bales, with nothing
heard of shipments from the south for de-
livery, and local brokers say the sustained
strength of March is causing active covering
by both trade and speculative shorts in May
and July.
Private cables attributed the strength of
Liverpool to Manchester covering, more en-
couraging advices from Alexandria and
diminishing apprehension of an advance in
the bank rate. Locally business became
more active after the call, with evidences
of broadening demand for July and early
new crop months owing to the continued alb
sence of spot pressure and less favorable
wea Their in the south. May sold up to 36.24c,
or 80 points net higher, while July sold at
33 34c and October at 30.65c, or AZ to 80
points above last nights closing figures.
March touched 9.24c the late forenoon
advance.
The Observation-Disclosures during the aft
ernoOn under realizing and withdrawal of
the demand from near months shorts. May
broke to $3.50 and July $780, or 40 to 40
points from the best, with the market
rather feverish and unsettled, although
prices showed rallies of 10 or Is points
around 2:30 O'Clock.
NEW YORK COTTON
The following were the ruling prices In
the exchange today:
Tone, steady; middling, 4O.65c, quiet.
oDen High Low s sac Close d rEse
Jan. ...29. % 20 80 &c. 20 20. 20 20. 10 %. O6
Mch. ...39. 90 80. % So. SO 80 3s 30 SO. 81
May ...36. 90 SO. 25 81. go IS. Ga IS. 60 So 80
July ...S3. 90 80 40 80. S. 80. 90 80. 92 80. Sc
Oct. 1920 80. 20 80. 10 1922 80. 80 80. 10
Dec. ...29.73 80. 90 90 5 so 9.5S 90
NEW ORLEANS COTTON
NEW ORLEANS, March A much bet
ter Liverpool market than due, too much
rain in the belt and the restoration Of com
petitive ocean freight rates caused an ad-
vance of % to SO points in the price of
cotton during the first half hour of trading
today, May rising to 1888 The contract
ring was active from the opening call
New crop months displayed equal steadiness
with the old because it was the general
opinion that the wet weather would further
delay preparations for planting.
The forecast of much colder weather for
the belt and the rising sterling increased
the demand, much of when appeared TO
come from shorts. Late in the morning the
trading months were 35 to 81 points up,
October showing the widest gain and stand
ing at 5000.
The rise continued until it amounted to
30 to Go points. AT this level heavy realiz-
ing came from the leading side, and the
market reacted under it, standing at 1
o'clock at net gains of only to II points.
At the highest May traded at 36.SS, falling
n an In
NEW ORLEANS COTTON
The following were the ruling prices In
the exchange today:
Tone, steady; middling, 4o25c, steady.
Open. High. Low. s snSs Close. d Hess.
Jan. 2S. ~ ~ 10
Mch. ...39. 40 SO. so 80. 90 80. 16 80. 10 80. 80
May ...36. 80 &c. IS SO. % SO. SO SO. SO So. so
July ...33. IS 80 SO SO 80 33. 40 SO. 43 SO. AZ
Oct. 80. % so. 68 80. Is 80. 20 80. 20 80. 03
Dec. 80. so %. 95 %. 80 %. 81 20 81 90. sc
NEW ORLEANS SPOT COTTON
NEW ORLEANS, March 4.-Spot cotton
steady; quotations revised; middling un-
changed. Sales on the spot 1,242 bales ;
to arrive 345. Low middling, 1925; mid
ding, 1880; good middling, 1880. Re-
ce1pts 6,646; stock 800, $50.
sPoF COTTON MARKET
Atlanta, steady, 10000.
New York, quiet, 4O.65c.
New Orleans, steady, 40.25c
Philadelphia steady, 40.90c
Galveston, steady, 41.90c.
Montgomery, steady, 39.35c.
Norfolk, steady, 39c.
Savannah, steady, 40.1Oc.
st. Louis, steady, 39.50c.
Houston, steady, 40.40c
Memphis, steady, 39.15c.
Augusta, steady, 39.S5c.
Little Rock, steady, 80 1Oc.
Dallas, steady, 42.5Oc.
Mobile, steady, 39c.
Charleston, steady, 40c.
Wilmington, steady, SOC.
Boston, steady, 40.50c.
ATLANTA SPOT COTTON
Atlanta spot cotton 40 soc
Receipts ................ ........... $3.50
onlpmentS ....'''. ................. 64S
AMEPTcAN cOrTON ANN