Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1920-05-22
Favorable Weather Map and
Continued Nervousness
Over General Trade Condi-
tons Inspired Liquidation
and Short Selling
Atlanta Cotton
Atlanta, good middling cot
ton, 42.75c. 20.

NEW YORK, May 21.-The COTTON market
showed renewed nervousness during today S
early trading. The opening was barely
steady at an advance of 3 points on May,
and that position sold 80 points net higher
right after the call, touching 42.75c on
further covering. Trading in the current
May delivery ended at noon, however, anu
the market paid little attention to the
early fluctuations. other months opened AT
a net decline of 80 to AZ points, with July
selling at 3S.35c and October at 35.30c under
liquidation due to another favorable weather
map or continued nervousness ever general
trade conditions. Wall street, Liverpool and
local traders we're sellers, but there was con-
siderable buying for spot house or trade
account. and prices showed rallies or sew
eral points later in the morning.
The opening declines were followed by
the rallies during the middle of the morn
ing when a somewhat more cheerful view
of general conditions appeared TO be ue-
veloping and there was some buying for
trade account as we'll as scattered COW
ering July sold up to $3.50 and Octo-
Der to $780, within Is to % points of
last nights closing figures but later IN
the morning the market was unsettled by
a specta cular break in the price of May
contracts. Some notices were reported IN
circulation and the people who are cred
tied with having taken up notices ear
lier in the month turned sellers sendlng
the price down to $3.50 or nearly four
cents per pound from the high level of
the morning and 1856 points net lower. The
last sal ewas at this figure, but the eff
feet on later months was more sentiment
tai than otherwise and the market was
fairly steady at net declines of some 80
or 40 points early in the noon hour.
The news of the May break brought in
more commission house liquidation during
the early afternoon and there was fur-
Their sharp decline in prices with July sell
ing off to 37.55 and October to 1880, or
about 100 to 125 points net lower.
NEW YORK COTTON
The following were the ruling prices IN
The exchange today:
Tone, steady; middling, Ale, quiet.
Open. High. Low. Sale. Close. Clase'
Jan. ...ss.4s 1878 32.9s 1918 1915 1894
Mich. ..33. 90 So Is 80. 10 80. 65 80. 65 SO .3s
May 40 so 1918 IS. so $3.50 $50. 40. "a
July ...3s. so 50. so 81. So 37.93 1913 So. rs
Oct. ...S5. So 81. go 81. so "a. 90 "a 80 So. rs
Dec. IA 80 "a. 45 SO. 3s 33.sS So. IS "a. 81
NEW ORLEANS COTTON
NEW ORLEANS, May 21.-The trend was
lower in the early trading In cotton today
under the influence of poor Liverpool mar
ket and fairly favorable weather conditions
over the belt In the first hour OF Dusl-
ness the active months were sent q to ~
points under the close of yesterday, July
falling TO 3S.1Sc and October to 35.20c.
Selling became general on the fairly IA
vorable weather forecast for the cotton re-
gion, heavy liquidation was forced on the
long SIDE ana prices DrOhc uuIll iato IA .Li0
morning they stood 43 to 81 points unoer
the close of yesterday. July standing at
SIS. 90 and October at 80. Oh. Reports of a
wide break in the market for Egyptian cot
ton appeared to have considerable effect IN
increasing bearish sentiment.
Bearish sentiment increased after the
posting of mill takings for the week OF only
149 600 bales against $4,000 this week last
year and IT'S, 900 two years ago. Opera tors
on the short side traded on the view that
all commodity prices were headed for lower
levels and there was continued unfavorable
comment regarding financial conditions. The
decline continued until July was at 1880
and the trading months were 10S to ia
points under the final prices of yesterday.
Late in the day there was extensive real
rallies Of IS to 40 points from the bottom.
NEW ORLEANS COTTON
The following were the ruling prices In tns
exchange today:
Tone, steady; middling, 4050c, steady.
Open. High. Low. Sale. Close. Close.
Jan. ...3s. 65 1915 80. s5 1907 1907 3d. SO
Mch. ..33. 90 SO 10 80. 40 80. So 80. so SO. %
May ...40.22 4O. 81 40. 90 40. 05 40.05 40. As
July ...3s. 20 1881 .35 1915 37.74 3s.45
Oct. .35 80 35 .4s "a. 3s 34.73 4.72, IS. 80
Dec. ...34.15 34.4o 49, 80 1911 $40 34.4
NEW ORLEANS SPOT COTTON
NEW ORLEANS, May 21.-Spot cotton
quiet and unchanged. Sales on tn spot 378
bales; to arrive 200. Low middling 3D. o.;
middling 1880; good middling 44.50. Re-
ceipts 1850; stock 1874 ,S15.