The Chattanooga news. [volume] (Chattanooga, Tenn.) 1891-1939, 1920-12-13
LIVERPOOL WEAKNESS
CAUSES COTTON DECLINE

New York, Dec. 13.-The cotton mar
ket was easier during today's early
trading. 1t appeared that the scatter
ing short interest had been pretty well
I covered toward the end OF last week
| and after opening barely steady at n
| decline of 10 to 81 points In response to
weak Liverpool cables active months
soon sold 81 to 80 points below Satur-
| days closing, with January touching
| IS .45c and May 10 62c. There was scat
tering liquidation in advance OF the
| government report, while there was also
| southern and Liverpool selling with
some local pressure encouraged by re-
ports OF unfavorable general trade and
industrial conditions.
Reports of freer spot offerings in the
southwest were accompanied by scat
tered southern selling early in the aft
ernoon, and offerings increased on the
publication of the government report
indicating a crop Of l2,9S7 600 bales, ex-
GLIDING linters. This was about 400 600
bales above the average of private es-
Inmates and was followed by break to
Is .23c for January and 10 csc for March,
or about So to So points net lower.
NEW ORLEANS COTTON.
New Orleans, Dec. l3.-Poor cables
and the general belief in high crop
estimate from the government sent the
price OF cotton to lower levels today,
the active months losing l6 to rs points
in the first half hour OF trading Heavy
rains in the belt were regarded as UNI
favorable, but did no more than steady
The market at the decline.
The market became very quiet, all
classes of traders holding off because
of the bureau report. At IL o'clock the
trading months showed declines OF IA
to % points.
Reports that advices received by the
department of agriculture estimated re-
quirements of American cotton by Ger
thD hl a =
for the season even should German mills
be aided by American credits, may nave
led to some selling on the early decline.
There was cough trade buying and COW
ering to hold prices around 10 Acc for
January. however and part OF the loss
quiet after the first half hour with trad
ers waiting for the official estimate of
the crop.
The governments crop estimate of
IL, 987, 900 bales, OF 500 pounds gross
weight, was considerably larger than
expected but its immediate effect was
drop of only a dollar bale In the
price OF the most active months. Janu-
airy falling to IA soc. After recovering
a few points the market fell off mod
erately again and at $50 o'clock the list
was AZ to So points under the final prices
of Saturday. January traded down to
IA .44c, which compared with l4.7Oc just
before the government figures were Is
New YORK COTTON FUTURES
OPENING.
New York, Dec. 13.-Cotton futures
opened barely steady; December, Ii; SOC;
January, Is Csc; March, 15 COO; May,
49, NEW YORK COTTON FUTURES
CLOSING.
New York, Dec. 13.-Cotton futures
closed easy: December, IA SOC; Janu-
airy, IA ;95c; March, l5'Ooc; May lS'22c'
NEW ORLEANS COTTON FUTURES
w." .oPENING.
New Orleans, Dec 13.-Cotton futures
opened steady: December, IA SOC; jan
uary, IA. Use; March. Is .02c; May, l5,l5c;
NEW ORLEANS COTTON FUTURES
CLOSING.
| New Orleans, Dec. 13.-Cotton futures
| closed steady at net decline of 81 to 73
points December, IA .1Oc; January,
IA 23c, March. IA .43c; May, 14.69c. July
NEW ORLEANS SPOT COTTON.
| New Orleans, Dec. 13.-Spot cotton
steady and unchanged; sales on the spot
AIS bales; to arrive 900 bales low m, MD
ding, 9.75c; middling, 14,75c; good
| middiing, II 0Oc; receipts, 9,S96 bales;
| stock, 455, SAC bales.
| LIVERPOOL COTTON.
| Liverpool Dec. 13-Cotton spot more
| inquiry; prices lower: good middllng'
| 10 Esd; fully middling, IL sod; middling'
II God; low middling. g. Esd; good or
| binary, G.25d; ordinary. 5.25d; sales,
5000 bales including 300 American
receipts, 10000 bales. including $500
| American; futures closed quiet: De-
cember II old; January IL ODD; March,
II .15d; May. II I'D; July, IL l3d; Oc-
tober, 10. GOD.