The Chattanooga news. [volume] (Chattanooga, Tenn.) 1891-1939, 1920-07-27
COTTON PRICES TUMBLE
AS A RESULT SELLING

New York, July 27-A renewal Of
selling pressure from the south. with
rumors OF freer offers OF spots, AND
selling by local and Wall street in.
terest, caused anothe drop in cotton
prices early today. The opening was
| steady with May points higher and
| ether months to ~ points lower, after
which a general break occurred, forcing
| prices from to FL points under last
night, with October Off to 32.29c; De-
cember, 3051c, and January, 29.7Sc.
| Later selling In which the south con-
tinued leader with further Wall street
offerings and local liquidation depressed
the market to 80 .05c for october, 30.32c
| for December and 20 Coo for January,
or rs to IS points under last nights
close Liberal covering developed at
| this level and the market had a rally
Of about 20 to- rs points towards l
| o'clock.
NEW ORLEANS COTTON.
New Orleans, July 27.-After declines
OF to 20 points on the opening call
today the cotton market steadied up on
reports of considerable rain In the CEN
trail belt and went to II points high
err than the close OF yesterday The
failure OF the weather map to confirm
private reports OF too much rain and
continued favorable crop reports from
Texas caused fresh selling under which
the market, at the end of the first hour
Of business, broke to levels 20 to 81
points under yesterdays final prices.
October traded as high as 31.6Sc and
as low as 81 csc.
At the lowest OF the morning prices
were 20 to 38 points off. The forecast
of showery weather in several states In
the belt caused some short covering
and professional traders commenced
buying on the view that the market was
over sold. Later In the morning some
a.
clines were reduced to to 81 points
Later positions received more support
than the near, resulting In irregularity.
The reactionary movement became
pronounced In the late trading, the dis
tant months being especially strong.
Late in the session March stood at
20 15c, and the list showed net gains of
10 to As points.
NEW ORLEANS COTTON FUTURES
OPENING.
New Orleans, July T.-Cotton futures
opened steady: October. 81 .Fc; De-
cember, 29.97c; January. 29.35c; March,
NEW YORK COTTON FUTURES
OPENING.
New York, July Election futures
opened barely steady: October 80, SOC;
December, 3O.57c; January, 29.80c;
NEW ORLEANS SPOT COTTON.
New Orleans. July 27.--Spot cotton
quiet and unchanged; sales on the spot,
102 bales. to arrive. none; low middling.
20 .00c; middling, 39,75c; good middling.
a .00c; receipts, 935 bales; stock, ga
GOA bales.
NEW ORLEANS COTTON FUTURES
CLOSING.
New Orleans, July Election futures
closed steady at net advances OF / to |
46 points: October 81 Sic: December, |
30 .33c: January. 29,S4c; March. 80 .10c; |
May, 28. 40c.
NEW YORK COTTON FUTURES
CLOSING.
New York, July 27.-Cotton futures
closed steady: October, 80. soc; Decem-
ber 80. 9Oc; January, Csc; March,
20 CSC; May, 20 .15c.
LIVERPOOL COTTON.
Liverpool, July 27.--Cotton spot In
fair demand. prices easier; good mid
ding, 2s.56d fully middling, 27 aid;
26 06d low middling, % Esd;
good ordinary. 10 06d; ordinary, Is. 06d;
sales, 5000 bales, including 7,100 Amer
can: receipts. 5000 bales, including 500
american futures closed steady: July,
"A Esd: October, %. SD: January, 81 sod;
March, 20. SD; ay. 20. BOD.
CoTTONSEED OIL.
New York, July 27--Cottonseed oil
'losed steady; prime summer yellow.
12.50d13.25. prime crude nominal; July
1878 August. $1274; September 1929;
october, s13.12; November, $3.50: De-
ember, $12.65: January. S12,69; Febru-
Try, $3.50. Total sales, 10000 barrels.