Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1920-03-13
COTTON

NEW YORK, March IA relatively
strong market for cotton at L'Verpool this
| morning was attributed to the decline in
| sterling exchange and early fiuctuati ms
here were irregular. The opening was
| steady at an advance Of IL points to de
cline of 3 points, with active positions sell
| ing about 8 to 20 points lower during the
| first few minutes. May eased off to 1914,
| while new crop positions were relatively
easy with October selling at 31.35 under
realizing, Wall street and southern selling.
Prospects for clearing weather i'll the south
may have contributed 10 the decline, but
immediate weather conditions were unfa
vorable and the market steadiad up before
the end of the first hour on renewed cover
ering, with May selling ut 1864 and October
at 31.52.
There was probably some buying on the
report Of a prominent southern authority in
dcating domestic consumption for February
Of 521 900 bales against 443, 900 last year,
but business was much less active than yes
terday with sentiment unsettled by talk of
an easier technical position and easier eX-
change rates. Except for realizing, no pres
sure of consequence developed, but prices
sagged off after the early rally, with May
ruling around 3655c shortly after midday,
or within points of last nights closing
quotations. while october sold at 31.41c, or
IA points net lower.
The report that only two votes were
needed for ratification of the treaty brought
sharp rally at the end of the fourth
hour. The ring which had been against the
market in the morning reversed its posi-
ton and prices were quickly bid up % to
43 points from Thursdays close. May made
a new high the move at $500.
Exports for the day were 43471 bales,
81 613 going to Great Britain; 11,441 to
the continent and 10,417 to Japan and
China.
The market showed increased activity and
strength during the middle of the after
noon on renewed general buying which seem
ed to be stimulated by reports of more ia
vorable prospects for the peace treaty.
Both March and May made new. high rec
with the high price touched last Deem
Der. Later months showed net advances
of 80 to 48 points.
NEW YORK COTTON
The following we're the ruling prices or
The exchange today:
Tone, steady; middling, 41c, steady.
Open. High. Low. Sale. Close. Close.
JAN IA 80. 4S &c. 90 80. As 80. so 80. IT
Nch . so. Go 40 90 80. 65 80. 90 80 90 80. so
May So. 81 81 .05 36.44 SO. 90 Sc 90 &c. 53
July 1881 "a 50 33 .6S "a. % "a % 81. IT
Oct. 80 31.97 81 IS 81 .95 81 50 81 SO
Dec. 80. 80 81. 90 sc. 40 sc. 05 80. 90 &C. 80
NEW ORLEANS COTTON
NEW ORLEANS, March 12.-First trades
in the cotton market today were higher on
the wet ather in the belt and around the
call the market gained to IL points. AL
most Immediately the market ran into sell
ing of Importance, based on the slump of
about cents in the rate of sterling ex-
change, and there was fall to levels of
to IL points under the close of yesterday.
This was followed bya recovery and an
advance on May to a level of 10 points
over yesterdays close on the forecast of
much colder weather for the western belt
The advance in May continued until it
amounted to 20 points,. but finally offerings
became heavy enough to cause reaction
and late in the morning prices we're at net
advances of but ] to Is points. Selling was
due mainly to the reaction downward. in
the foreign exchange market.
Rumors that the peace treaty had been
ratified and the large mill taknss for the
week, 262, 900 bales, against 162, 900 tbs
week last year, put the market strongly
higher. At O'Clock the trading months we're
35 to As points over the final quotations of
yesterday.
$685.. NEW ORLEANS COTTON
The following were the ruling prices in the
exchange today:
Tone, steady; middling, 41c; steady.
Open. High. Low. Sale, Close elise
Jan. .95 80. SO 20. 95 30.5S 80. SO 80. 90
Mar. E. 80 so 80. 10 80 so 80. So so. 80 50. so
May E. 37.0O 37.4S Sc 81 37.45 81 As SO. 90
July E. "a. 10 AIS 10 "a. Il 81 80 81. %
Oct. :. 1.43 81 SO 81 10 rs 31.75 81 81
Dec. =. 80. A 81 .05 80. Al 81 .O3 81 .03 80. Sc
NEW ORLEANS SPOT COTTON
NEW ORLEANS, March 12.-Spot cotton,
steady, % points up. Sales on the spot,
1865; to arrive, 741. Low middling, 32.75c;
middling, 41c; good middling, 43c. Receipts,
6,1S2: stock, 370,S71.
SPOT COTTON MARKET
Atlanta, steady, 41.G0c.
New York, quiet, Ale,
New Orleans, steady, 41c.
Philadelphia, steady, 41.25c.
Galveston, steady, 42.3Oc
Montgomery steady, $4,000.
Norfolk, steady, SOC.
Savannah, steady, 40c.