The Chattanooga news. [volume] (Chattanooga, Tenn.) 1891-1939, 1920-03-18
COTTON TAKES ON
RENEWED FIRMNESS

New York March 1S,-Relatively firm
| cables, continued wet weather in the
| eastern belt sections and a sharp re-
| duction in the local certified stock led
| to renewed tirmness in cotton early to-
| day. May and some of the new crop
months made new high records for the
season, while July sold into new high
| ground for the movement, with first
prices showing advances Of 3 to 10
| points. A recount of the stock here
showed a certiticated supply of only
LEO bales, owing to the fact that cot
ton shipped out had not been preVl-
ously reported, and these figures EVIL,
IDENTIFY increased the nervousness OF
May and July shorts. May sold at
38.1Sc, and October at 32.2Sc shortly
after the call, or SO to AZ points net
higher
The advance extended to 3S.25c for
May and 32.35c for october before the
end of the morning, or about o. TO ~
points net higher. March, whlch had
been offered for sale rather freely at
40 19c during yesterdays early tfadlng,
advanced to 40.29c, making new hlgh
record. There was increased realizing
around these figures, and trading be-
came less active late in the morning,
with prices showing reactions of 10 or
IS points early in the noon hour. Lit
tie southern selling was reported here
during the morning, and except for
profit taking there appeared to be lit
tie pressure against prices.
A less favorable view of the Ger
man situation promotes some further
realizing after 2 O'Clock, but fiuctua-
titons we're comparatively narrow, with
May ruling around 2S.15c, and October
32.2Oc, or about % to Al points net
higher.
NEW ORLEANS COTTON.
New Orleans, March 18.-Rains in the
eastern belt and a much better Liver
pool market than due put the price of
cotton higher on the opening today, and
the advance was continued after the
call, so that at the end of the first half
hour of trading prices were 20 to 80
points up.
March, the spot month, traded up to
40c; October rose to 5000. Political
news was considered unfavorable, but
while it restricted operations on the
long side to sent extent it had no great
effect.
Complaints of too much rain in some
sections of the belt, too little in others
and general complaints of the lack Of
labor and inefficiency of labor avail
able increased the demand for con-
tracts especially after thep osting of
the forecast calling for rains in all
states east of the Mississippi river. To-
ward noon prices were IS to as points
over yesterdays finals, and May stood
at 38.06c
Considerable realizing came from the
long side and checked the rise. The
market retained a steady tone and did
not give much ground under the offer
ings, standing at 1 O'Clock at net gains
of 20 to 28 points. Exports for the
day of 1861 bales against 1877 this
day last year were partly responsible
for the good tone.
LIVERPOOL COTTON.
Liverpool, March 1S.-Cotton. spot in
improved demand prices higher; good
middling, 3064d; fully middling, 29.64d;
middling. 2SG4d; low middling, %, 34d;
good ordinary. 22.f4d; ordinary, 21.14d.
Sales, 5000 bales, including $500 Amer
lean; receipts. 5000 bales. including 200
March. 26.S4d May, 25.75d; July,
24,S6d; October, 2309d; December,
2.17d: January, 21.99d.
NEW YORK COTTON FUTURES
OPENING.
New York, March 1S-Cotton futures
opened firm March, 024c; May, 37.S5c;
July, 3i.95c; October, 31.95c; December,
3t.12c.
NEW ORLEANS COTTON FUTURES
New Orleans. March 1S-Cotton fu-
lures opened steady: March, 39S5c;
May 37.7Oc; July, 34,95c; October
31.79c: December. 309
NEW YORK COTTON FUTURES
CLOSING.
New York, March 1S-Cotton futures
closed steady: March, 4029c: May,
3S.O1c; July 35.23c; october, S32.O6c;
December, 3t.20c. -
NEW ORLEANS COTTON FUTURES
New Orleans, March 1S.-Cotton flu
lures closed steady at an advance Of
10 to II points: March, 80. 90c; May,
27.79c; July. 35.O7c October Sl.9Oc; De-
cemher, 31c.