Atlanta semi-weekly journal. (Atlanta, Ga.) 1898-1920, 1920-02-17
COTTON

NEW YORK, Feb. 16.-The continued
strength of Liverpool led to a further ad-
vance in the cotton market at the opening
here today. First prices were to "a points
higher with May contracts selling at 34.35.
Sentiment was more or less unsettled by the
early irregularity of the stock market and
easier tone of foreign exchange, however,
and the initial advance met heavy realizing
by recent buyers which caused reactions right
after the call. May sold off to 3402 or
10 points net lower although houses with
Liverpool and domestic trade connections
were credited with buying considerable cot
ton on the decline. Private cables said Iiv-
erpOol had advanced on the American
strength of Saturday higher Egyptian prices
and covering by March shorts.
A belief that the short interests had been
very materially reduced on the advance of
last week, leaving the market in an easier
technical position, doubtless led TO scattered
selling well realizing on the decline
later May sold off to 80 &c. or 80 points
from the early high level and 35 points net
lower, while later months showed net losses
of 81 to 81 points. March was relatively
fiom but very quet and the volume of bust
ness generally tapered off around midday
when prices were within to points of the
lowest.
The decline extended to 1882 for May
carly in the afternoon SO points net
lower but the market turned steadier to-
ward O'Clock, on bullish trade advices
from Manchester, the relative firmness of
the spot month and covering, May rallied
to 1885 later, or about 80 points from
the lowest while March sold points above
Saturdays closing figures.
NEW YORK COTTON
The following were the ruling prices in
the exchange today:
Tone, steady; middling, So. 95c, steady.
Open. High. Low. Sale. Close. ClGse
Jan. e. %. 90 %. O2 %. 90 300 go. 28.75
Mar. e. SO. so &c. 90 50. 80 SO. AZ SO. A SO. %
May j.. 4.3O 81. 50 80. 81 34.15 10 "a. 10
July E. 32.1O 32.15 1875 81 SO 81 90 80 oil
Oct. .. 80. So 30. So 90. 10 %. so 20. 10 20. 70
&c. E. 20. IS 20 % %. S8 20. % ..... 20 %
NEW ORLEANS COTTON
NEW ORLEANS, Feb. 16.-Irregularity
prevailed in the early trading in cotton to-
day. Around the opening prices were higher
on the near months but were unchanged at
their best on the active fall months, the
list standing net unchanged to 81 points up
at this stage. Good Liverpool cables caused
the steadiness. A little later the market
broke under selling caused by the drop of
about 3 cents in sterling and unafvor-
able opinion of the international political
situation, and at the end of the first half
hour of trading prices were 8 to 80 points
under Saturdays close, the distant months
being the weakness and October falling from
29.S5 to 1856.
considerable llQulQaClOn OF long cotton
came out and it was not readily absorbed.
The holiday here tomorrow, due to Mardi
Gras, appeared to restrict the demand. Late
in the morning the list stood Is to 81 points
under the level of last weeks close.
The report that the entente allies had
fused to consider President Wilson's OBJ
jectiOns. to the proposed settlement of the
Adriatic question caused the heaviest sell
ing of the day under which prices fell to
a level, So to 70 points under the close of
Saturday. At 1 O'Clock prices were SO to
45 points up from the low.
NEW ORLEANS COTTON
The following were the ruling, prices In
the exchange today:
Tone, steady; middling, 39.25c, quiet
Open. High. low Sale Close Close
Mth ..37. 80 81. so SO. 60 81 .4S 81. 40 3S %
May IA 30 81 80 "a. OF "a So "a 80 "a. II
July ..32. IS 81. So 80. 90 so. 60 80. so 80. II
Oct 20 81 20. s. 30 PA 30. IA 30. Is %. IS
NEW ORLEANS SPOT COTTON
NEW ORLEANS, Feb. 16.-Cotton, spot,
steady, quotations revised; middling, I'M
changed. Sales on the spot, 641; to arrive?
260; low middling, 31.75; mddling, 80 20;
godo middling, Al %; receipts, 4,408; stock
403 332