The Chattanooga news. [volume] (Chattanooga, Tenn.) 1891-1939, 1920-09-03
WEAKNESS IN LIVERPOOL
LEADS TO SHARP DECLINE

New York. Sept. 3.--Weakness In Liv.
erpool led to n sharp decline In the
cotton market at the opening here this
morning. First prices were so to- 81
points lower, and the active months
sold Sc to 90 points below last nights
closing figures right after the call, with
| October touching 20 Csc and December
24.7Dc. The technical position OF the
market seemed easier after the rally
| OF yesterday, but there was further
covering, which became more active at
the decline right after the call and
caused rallies OF 25 or 40 points from
| the lowest. There was continued south
ern selling, however, while the British
| trade news was disturbing and the
| bulges were not maintained. Private
cables said that general short time In
| Manchester was very likely. although
1t would not be officially organized. and
another cable said that spot holders
were anxious to realize.
| the publication OF the weather map.
and the unfavorable eastern belt fore
cast with October selling up to 26. CSC,
or back to the closing prices OF yester-
day. Later months recovered a good
part OF the early loss. but trading be-
after the rally of 26.22c for December
prices eased Of several points. Weather
reports indicated showers and rather
low temperatures In eastern belt sec
lions, which were considered unfavor-
able as generally dry warm weather is
supposed to be needed over the month.
Detailed weather reports showed more
rain than indicatd by the early map,
and the advance extended to rs. Acc for
December, or 20 points net higher. This
was not fully maintained. but the mid
afternoon. market was steady at net
decline OF about Z to 80 points.
NEW ORLEANS COTTON
New Orleans, Sept. 3.-Poor cables
and pessmistic feeling over labor trou
bles on both sides OF the Atlantic caused
a decline of rs to IS pointsin the early
trading In cotton today. but at the de-
cline the market met an extensive COW
ering movement on the part OF shorts
who wanted to take profits before the
holidays. At the end of the first hour
OF business the market had a fairly
steady tone and stood points higher to
80 points lower than the level of yes
terday's close. October dropped off to
"a. 94c and reacted to Is .45c.
The demand from covering shorts in
creased and new buying for long ac-
count came In on reports of cuts in
ocean freight rates on cotton out OF
gulf ports. Late In the morning Octo-
bar stood at soc and the distant
months were rs points over to points
uIueT lHe maj prlCe5NOI yesterday.
The reaction remained in force until
prices were unchanged to rs points up.
compared with the close OF yesterday,
but after the weekly statistics were
posted the market turned very weak.
Mill takings for the week were only 1856
900 bales against 21S.000 this week last
year. Prices broke sharply and landed
at new low levels where late in the day
they stood 67 to 10 points under yester-
days finals. October slumped to "a. 73c.
NEW ORLEANS SPOT COTTON.
New Orleans. Sept. S.--Spot cotton
steady; quotations revised; middlng rs
points lower; sales on the spot. 34S
bales; to arrive, 295 bales; low middling,
S.75c: middling. 49,. 75c; good middling
80 .00c; receipts. 1,O4S bales; stock, 200,-
4G3 bales.
New York, Sept 3.-Cottonseed oil
closed firm; prime summer yellow,
$12.60@14.00; prime crude nominal; Sep
TENDER. $12.70; October, 1894 Novem-,
Der, $12.00; December, $1317: January,
1920; February. 1920; March. 1881;
April, $500. Total sales. $500 barrels.