The Chattanooga news. [volume] (Chattanooga, Tenn.) 1891-1939, 1920-08-02
COTTON MARKET SHOWS
WEAKNESS AT OPENING

New York, Aug. 2.-iThe cotton mar
ket showed renewed weakness at the
opening today, first prices being easy
| at decline OF to 10 points under
| continuation of last weeks selllns
movement. Two more private condi-
ton reports were issued, ranging from
| 74.4 to 1872 per cent, which was ahout
| in lind with previous figures ana there
was no change of sentiment as 10 Vpe
probable showing of the government re-
port, hut sellers found encouraginsen I'LL III
weather In the south, unsettled Eu-
ropean political conditions and week.
| end declines in southwestern spot mar
kets October sold TO 81 DOC, ana De-
cember to 20 soc. or about 20 10 ~
points net lower during the early trad
| Ing.
The demand from shorts tapered Off
when Il was found that the crop figures
had failed to bring in any important de-
mand from the trade and prices worked
back to nearly last Saturdays closing.
There was renewed covering, around the
30c level for December, and active po-
sitions ruled about 16 to 35 points net
higher during the mid-afterncon.
NEW ORLEANS COTTON.
New Orleans, Aug 1.-The early
trading in cotton today developed ir-
regularity. On the first call the near
months were 10 to 10 points up, but
ward to levels 10 to rs points under the
close of Saturday, while at the end OF
the first hour of business the distant
months were stronger than the near and
March stood points over saturdays
close. october rose to 80. SOC, fell Off
to Boise, and came back to SO.2Oc
Evening up trading in preparation for
the bureau report caused the uneven
fluctuations.
Just prior to the bureau report at 10
o'clock the market fell off again, this
time to net declines of 10 to 3lvpoints,
but the condition figures OF 74.1 per
cent. of normal, indicating crop OF
1251e,000 bales. were hardly as iavor-
able as expected and heavy covering by
the short element Immediately was done
on which prices bulged sharply. This
rise carried October to 30. 95c, and put
the list So to 60 points over Saturdays
close. The gains were not well main
tanned and late in the morning the mar
ket was nearly half cent down from
the highest.
The market turned nervous and more
irregular than ever. Late in the SEES
sion the most important buying OF the
session entered the late months and
put March to 20 SEC, or LOG points. over
Saturdays final price. Toward the
close the active months were At net
gains of so to 80 points.
NEW ORLEANS COTTON FUTURES
OPENING.
New Orleans. Aug. 2.-Cotton futures
opened steady: October. LAC; De-
cember, 20. 34c:i January, 20 .S5c: March,
rs. 43c; May. 27.S4c.
NEW YORK COTTON FUTURES
OPENING.
New York. Aug. 2.--Cotton futures
opened easy: October 81 00c: Decem-
Der, 30 .00c; January. 29.05c; March,
% soc; May, 2S.45c.
NEW ORLEANS SPOT COTTON.
New Orleans, Aug. 2.-Spot cotton
steady: quotations revised; middling,
25 points down; sales on the spot, IT'S
bales to arrive. none; low middling
| 81 .75c; middlir g. 3S soc; good middling,
AZ. Csc; receipts. 1876 bales; stock, $685.
474 bales.
NEW ORLEANS COTTON FUTURES
CLOSING.
New Orleans. Aug. 2.--Cotton futures
closed steady at net advances of A to
"a points: October, 3O.75c; December,
| 30 Ice; January, 20 sac; March, 20 .40c;
| May, rs. 75c.