The Chattanooga news. [volume] (Chattanooga, Tenn.) 1891-1939, 1920-10-16
RENEWAL OF SOUTHERN
HEDGING IN COTTON

New York, Oct. 16.--There was a re-
newal OF southern hedge selling In the
| cotton market this morning. Spot prices
| In the southwest made new low records
yesterday with larger business re-
ported, and much of the hedging came
from that section during today's early
| trading. There was also selling on the
continued depression OF the goods trade
as emphasized by weekend reviews
estimating Fall River sales for the
week at only 5000 pieces, and London
adyices indicating that the British coal
strike would take place as scheduled
First prices were easy at a decline of 2
to 30 points. and while there was a good
deal OF covering, the market soon
worked still lower under the pressure of
southern offerings and liquidation by
recent buyers for a reaction. December
broke to 10 SOC. making IA new low rec
ord and net. decline of so points, while
January sold off to 10. 10c, or 40 points
below last nights close. Rumors that
British railway workers were planning
to strike in support OF the miners were
an Insettlng factor
The pressure became still more ac-
tive late In the morning when there was
heavy Wall street selling as well as
continued pressure from the south and
the break extended to IS 60c for De-
cember and 1850 for March, or 95 to
$40 points below Fridays closing quota
t9ns. Last prices were at the lowest
Of the day with the market weak at a
net decline Of 70 to 14O points.
NEW ORLEANS COTTON
New Orleans. Oct. 16.-The coal strike
In England was the main influence in
the cotton market today and II caused
lower opening and, during the first
hour OF the session, the trading months
dropped to levels % 10 So points under
the close OF yesterday, December trad
ing as low as Is. 85c and May as low
as 10 BIC. All months made new low
levels for the season. Not as much rain
as expected fell in the belt and this,
together with the unfavorable tone of
weekly business reviews, helped to in
crease offerings.
During the second half OF the session
selling pressure increased and extremely
heavy liquidation of long contracts
came on the market. The close brought
much excitement, mainly owing to the
break of $40 bale in October. Last
prices were at net losses for the day of
los to 200 points, October being the
weakest month and dropping to Is. 1Oc,
the lowest price yet made this season
by a spot month.
NEW ORLEANS COTTON FUTURES
OPENING.
New Orleans Oct. 16.-Cotton futures
opened steady: Oct ober, 10, zoe; Decem-
March, IS 62c; May. IS 47c.
NEW ORLEANS COTTON FUTURES
CLOSING.
New Orleans, Oct. 16.-Cotton futures
closed weak; net decline of 105 to 200
points: October. IS. 10c; December,
- .9Oc: January, 17.75c; March. II. csc;
May II. Soc.
NEW YORK COTTON FUTURES
OPENING
New YoiA, Oct. 16.--Cotton futures
opened easy: December, 10. zoe; Janu-
airy. 10. zoe; March, 13.O5c; May, 10 .O5c,
July 49, 96c.
NEW YORK COTTON FUTURES
CLOSING.
New York. Oct. 16-Cotton futures
closed weak October, 10 40c; Deem |
per, 1850; January, 1S2Sc; March,
l8 35c; May. IS 35c.
CoTToNsEEp OIL.
New York, Oct. 16.-The cottonseed
1ll market weak; prime summer yellow, |
'll.00: prime cruIe, $75ODS.25; October, |
'l1.00; November. $11 90; December, |
'll45: January, $11.45; February, $11.45; |
March, $11.50; April, $iI.5G; May, $11 60. |
Total sales. $500 barrels.
NEW ORLEANS SPOT COTTON
New Orleans, Oct. 10.--Spot cotton
luiet sales on the spot. 1872 bales; to
Irrve, 300 bales; low mddling. 10 75c;
niddling, 20 25c; good midding. 90 $50