Atlanta semi-weekly journal. (Atlanta, Ga.) 1898-1920, 1920-02-03
COTTON

NEW YORK, Feb. 2.--The cotton market
opened steady at an advance of 81 to so
points in response to relatively steady ca
bles and covering by some of Saturdays
sellers who were probably influenced by
the strong opening Of the stock market
and a more favorable view Of peace treaty
prospects. March sold up to 1910 and
July ITO 81 0G on the call, but except for
covering, there appeared to be very little
support and the market soon weakened I'M
der n renewal of more or less general sell
ing inspired by the continued weakpess of
foreign exchange or nervousness over the
general money market and business condi-
tons. March broke to $3.50 and July to
81 81 with active old crop positions selling
u TO "a points net lower
Southwestern spot interests We're credited
with buying on the early break and the
market turned steadier during the middle
of the morning on covering. March sold
up to 36.G4 and July to 32.U3, or to 2l
points net higher, with the late months
relatively firm on trade buying. The volume
of business became much smaller on the raj
ly and prices We're a few points off from
the best around midday, but the tone of
the market was barely steady after the
early selling movement had run its course.
There We're reports of an easier basis for
low grades in the south but very little sell
ing was noted around the local ring.
Trading was quiet during the middle of
the afternoon, but the tone was generally
steady, owing to the absence of southern
hedge selling and trade buying of the later
months. March met some scattering liGuida-
ton around the 3G-cents bid and was rela-
lively easy, while July held around $500,
or about 10 points above Saturdays clos
ing figures.
NEW YORK COTTON
The following were the ruling prices in
the exchange today:
Tone, steady; middling, 80 15c, quiet.
Open. High. Low. Sale. Close. Close.
Mar. :. SO. 90 36.17 3d. 36.17 &c. - sc. 90
May e. "a. 10 "a. % SO. rs 81. IT 81. IA "a .O2
July =. 31.9O 80. OF 81. So 81. 81 81 81 81 .s5
Oct. =. 20. so 90 SO 20. % 30 81 20 81 20. 80
Dec :. 29.O8 % Is %. 80 % Did,. 28. 90
NEW ORLEANS COTTON
NEW ORLEANS, Feb AFTER showing
near months being unchanged to 8 points
down and the distant months to points
up, the cotton market fell off under sell
ing based on continued pesSimistic utter
ances concerning financia! conditions in Eu-
rope. Offerings were skelled by the bet
ter weather over the belt, the map being
dry, with temperatures averaging somewhat
higher THAI they have been.
At level II to 80 points under the close
Of Saturday the market met a new de-
mand, coming apparently from traders on
the long side who were impressed by re-
ports of a fairly good spot demand and by
the discount at which contracts trad
ing under spots. A gradual upward move
ment resulted and late in the morning the
trading months were 8 to 10 points higher
than the final prices of Saturday. March
rose from 1903 to 37.44.
Ihe weakness of foreign exchange brought
in moderate selling and the market yielded
until it stood at net declines again. At l
o'clock the trading months were to 0 points
under the last prices of Saturday.
NEW ORLEANS cotton
The following were the ruling prices in
the exchange today:
Tone, steady; middling, 39SSc, quiet. \
Open High. Low. Sale. Close. Close.
Mich, 7.25 .45 81 .o3 37.45 81. As 81. 81
May g. 50 80 II "a SO 80 OF 81. O6 81 90
July .. 80. 90 30 % 80. so 80 "a 81. 90 80 80
Oct. -. 60 90. ST %. i so 90 SO %. SO &c. G1
Dec. . .. $500. w - % 20 % 90