The Chattanooga news. [volume] (Chattanooga, Tenn.) 1891-1939, 1920-12-08
IS UNSTEADY
BY DECLINE In LIVERPOOL

New York, Dec. S.-The cotton market
was unsettled during todays early trad
ing owing TO a further decline In Liver
pool, unfavopable advices from Havre
and southern and local selling. The
opening was unchanged to 16 points
lower and active months sold about Is
10 25 polntS below last nights closing
during the early trading, with January
touching Is Csc and March 10 SOC. The
census report showing TO- 44,92l bales
ginner to Dec. I, was considered an Inn
portant influence on the immediate mar
ket. Trade advices from Havre said
that French mills had decided on
three day week from Dec. 10. but Liv-
erpool cabled that Manchester buying
had caused rallies from an early de-
cline there.
Offerings were very light later and
there were rallies on covering. There
was also some buying by local opera
tors on the advance to 10 ;95c FOR Janu-
airy and 16 07c for March, or 2 to 3
points above last nights closing. This
was accompanied by reports that specu-
lative buying was beginning to show it.
self in the goods market, but the bulge
was not fully maintained and the mar
ket was so narrow that 1t responded to
comparatively small orders either way.
General business remained very quiet
during the early afternoon. but there
was a squirt of covering with March
ruling around IS soc, or within points
of last nights closing.
NEW ORLEANS COTTON.
New Orleans, Des. 8.-Somewhat
heavier ginning to the first of Decem-
Der caused selling in the cotton market
today, which broke the price Is to 20
points in the first half hour of business.
January declined to Is. 03c and July to
Is .59c Ginning of 10.144,92l bales indi-
Gated q production this last period of
1,224,000 bales, or about 100000 more
than NOSE traders looked for.
The statement by Gov. Harding OF the
federal reserve board that he was still
opposed to granting credits to farming
interests in order that crops might be
withheld from the market was used to
hold prices down, but fluctuations were
sluggish after the early trading. At IL
| o'clock the trading months were ~ to
| 20 points under yesterdays last quota
| tions.
| French spnners had decided to go on
| a three-day week. beginning with Dec.
| Is, which action brought forth a pri-
vate estimate OF only 95O0,O0O bales
| as the likely world consumption of
American cotton this season, caused
| further selling. In the trading up to
| 80 o'clock the decline was widened to
rs to SO points. January fell to 1850.
| NEW ORLEANS COTTON FUTURES
OPENING.
New Orleans, Dec. 8.-Cotton futures
! opened steady: December Is ,18c; jan
uary. Is csc; March, $3.50; May 1850;
| July, is Csc.
NEW ORLEANS COTTON FUTURES
New Orleans, Dec. S.-Cotton futures
closed steady at net decline of % to
| 20 points: December, IA soc; January,
is. 62c; March. 15.27c; May. 1544c; July
| Is SIC.
New York, Dec. 8.-Cotton futures
opened steady: January, Is soc; March,
| Is .90c: May, Is 00c; July, Is. zoe.
NEW YORK COTTON FUTURES
CLOSING.
New York, Dec. S:-Cotton futures
| closed steady: December, Is SIC; Janu-
AIRY. Is. 72c; March, 1850; May, $4,000;
July, 16 05c.
| Liverpool, Dec. S.-Cotton spot in fair
| request; prices easier; good middllng.
13.O1c; fully middIing. II csc; middling'
binary. 6.01d% ordinary, sod; sales,
| 5000 bales including $500 American;
receipts, 5000 bales, including 700
American; futures closed steady: De-
| cember, IL .06d; January, IL .06d; March,
II god; May. 11.23d; July, IL lid; oc-
tors, 10.96d.
coTToNsEED OIL.
New York Dec. 8.-Cottonseed oil
closed steady; prime summer yellow,
$500 bid; prime crude, $6.25M6.50; De-
Ger Der, $9.1S; January, 1926 Feprtl-
airy. $3.50; March,, $9.57; April, $0.5S;
May. 500; June, $9.S5; July, $1O.07. To-
tai sales, 11,70O barrels.
NEW ORLEANS SPOT COTTON.
| New Orleans, Dec. 8.-Spot cotton
quiet rs points lower; sales on the
spot, 1911 bales. to arrive, AGA bales; low
middling, 10. Csc; middling, 15.25c; good
middling, II 25c; receipts, 11,455 bales;
| stock. 43S, 958 bales.