The Chattanooga news. [volume] (Chattanooga, Tenn.) 1891-1939, 1920-10-18
COTTON DEVELOPS
EXTREME NERVOUSNESS

New York Oct. l8.-The cotton mar
ket was extremely nervous and unset
tied during today's early trading There
was a good deal OF covering with trade
buying and probable buying for a re-
action after the severe break OF last
week. On the other hand, the south
continued selling, while there was
liquidation on reports that British
trade had been brought to almost a
standstill by the coal strike and the
weakness OF the Liverpool market. The
opening was IL points higher to 20
points lower except for September,
which was so points higher. and active
months sold about 80 to 40 points be-
low Saturdays closing during the early
trading with December touching Is. i7c
and March IS 00c. Cable advlces stated
that $4,000 Lancashire operatives were
idle because of the coal strike and that
so per cent. of the British spindles were
expected to be idle by the end OF this
week should the strike continue.
There was enough covering invest
ment or trade buying to check the de-
cline at the 18c level FOR January and
later deliveries or about 80 or 40 points
below Saturdays closing figures. Trad
Ing then became less active and there
were rallies OF 40 or go points from
the lowest later in the morning, al
eral character of the news. Now that
the long threatened British coal strike
has actually started. a disposition to
buy In anticipation OF a settlement Is
reported, but early buyers for reac-
ton withdrew on the rally pending more
settled conditions In southern spot
NEW ORLEANS COTTON.
New Orleans, Oct. 18.-The English
labor situation was responsible for lib
eral offerings on the opening OF the
cotton market today and before trad
to 81 points under the close of Satur-
day, with all months making new low
levels for the season. December fell
off to 1755c and May to II 23c. At the
decline a good character of buying was
felt and many traders who have been
on the short side appeared to have
evened up and taken to the long side
on the theory that cotton had reached
an Investment basis. At the end of the
first hour of business prices were 30 to
40 noints up from the lowest.
The demand persisted and offerings
became scanty. Some buying came in
because OF the outlook for more unset
tied weather conditions over the belt
In the trading up to IL O'Clock prices
were 28 to 80 points higher than the
close OF Saturday, December rising to
IS CSC.
Ing iHaThet went 10 pieces late In
the day falling s5 to ITO points from
the highest, which carried December to
i7'1lc. and May to 16 SOC, new low
levels. The break was due to the re-
port that many Lancashire cotton mills
would lee idle by the end of the week.
to the story that Scottish railroad men
had voted to join the coal miners and
to reports OF red riots in Downing
street, London. At the lowest the trad
ing months were 65 to SO points under
the closing level of last week.
LIVERPOOL COTTON.
Liverpool Oct. 18.-Cotton spot in
small inquiry: prices weak; good mid
low midding, 10.35d: good ordinary,
.iOd; ordinary. 6,40d: sales, 1000 bales,
1900 American; no receipts;
futures closed steady: October. 10 sd;
December, AID; January, 10 .45d;
Morcn, $500: May. 13.17d; july 1906;
September, ~ SD
NEW YORK COTTON FUTURES
OPENING.
New York. Oct. 1S.-Cotton futures
opened steady: December. IS Acc; Jan
nary, H. &c; March, 25c; May, 1s. 4Oc;
NEW YORK COTTON FUTURES
CLOSING.
New York. Oct. 1s.-Cotton futures
'losed easy: October, 1S. SIC; Decem- |
Der. 1900; January, II. 55c; March,
II .bOc; May, II b5c.
NEW ORLEANS COTTON FUTURES
OPENING.
New Orleans. Oct. 1S.-Cotton futures
,pehed steady: October, 17.S3c; De-
,ember II. SSM17 soc; January, 1851
2 .63c; March, II Coo bid; May. II .45c
Did
VIEW ORLEANS COTTON FUTURES
CLOSING.
New Orleans, Oct, 1S--Cotton futures
'losed steady at net declines of so to so
POINTS: October II soc: December
z .2Oc; January, H.. 07c; March, II. 05c;
Nay, 10. SIC.
CoTToNSEED OIL.
New York. Oct. 18.-Cottonseed oil
'losed weak; prime summer yellow,
1850 bid; prime crude. $7.506S00 Oc-
ober, $1,000; November. 5000; Decem-
'or $1i.07; January, $11.O7: February,
lilo; March. $I1.22; April, $11 rs; May.
40. Total sales IA. 300 barrels
NEW ORLEANS SPOT COTTON
New Orleans, Oct 1s.-Spot cotton
'teady: quotations revised; middlng.
so points lower; sales on the spot $50
'ales: to arrive, 723 bales; low middling
. 75c; middling. is 75c good mddlng,
o 75c; receipts, 7,495 bales; stock,
sc, sos bales.
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