The Chattanooga news. [volume] (Chattanooga, Tenn.) 1891-1939, 1920-03-19
ADVANCE OF POUND
STERLING HELPS COTTON

New York, March 19.-Ths advance
IN sterling exchange seemed to fully
onset lower Liverpool cables. and the
at an advance OF "A to % points. There
we're two March notice issues, the first
SO far this month. and March sold at
| 40.2bc at the start. or points net
| lower, but rallied to 40.33c on the call,
which made new high record for the
season. The buying OF later months
was probably influenced by overnight
reports OF an unusually good foreign
demand In eastern belt markets for this
season. and local trade interests were
good buyers Of May on the advance to
3s.4Sc for that position, or AZ points
net higher.
Active months sold 80 to 40 points
net higher during the middle Of the
morning, but at 3S.43c for May and
81. 46c for October, there was more real
izing. Reactions Of 10 to 20 points fol-
lowed, but the market became less ac-
tive. and later fluctuations were irreg-
ular, with the tone holding steady
around midday. 1t Is said that one OF
the Italian shipping firms here received
cablegram from Its home office In
Genoa today, asking 1t not to accept
any further cotton bookings for Ital-
ian ports ''on account of embargo"
Other Italian firms reported no such
instructions, and local traders appeared
to be without any information regard
ing the conditions referred to.
The market was easier during the
middle OF the afternoon under increased
realizing over the weekend with May
selling off to 1890, or 10 points net
lower. New crop positions were rela-
lively steady, with October holding
around $4,000, owing to unfavorable
weather reports from the south
NEW YORK COTTON FUTURES
OPENING.
New York March 19.-Cotton futures
opened nrm; March, 4025c; May 38.10c;
July, $3.50; October, sec; December.
NEW YORK c o1~In FUTURES
New York. March 19.-Cotton futures
May, 1890; July, $500; October,
NEW ORLEANS COTTON.
rains in the belt gave the cotton mar
ket an upward trend In the early trad
ing today, and after the call the rise
In the rate of sterling exchange was a
strong bullish influence. Buyers found
no great quantity Of cotton for sale.
and the short element was disposed to
cover its commitments. At the end of
the first half hour OF business prices
were 50 to 3S points higher than the
close OF yesterday. May traded up to
38.12c.
Realizing was met around the mid
die of the morning. and it caused re-
actions OF from 10 to 20 points, but the
market held steady on expectations of
favorable weekend statistics and COM
paratively small ginning returns in the
hnal report OF the season due tomor
row morning. Toward noon prices were
at advances of 81 to "a points, COM
pared with last nights close.
The demand for the new crop months
increased mere on on continued complaints
crop outlook. and advances on them
were widened, while the old crop
months did not increase early gains |
In the trading up to / o'clock the ad-
vance amounted 33 to 81 points at one
time and December was the strongest |
month, rising to 31.57c.
NEW ORLEANS COTTON FUTURES
CLOSING.
New Orleans, March 19.Cotton fu- !
lures closed steady, IA points down to |
40 points up: March, 39.65c; May, |
SaS5e; Jg y io S51sc; October S2l9c; De-
NEW ORLEANS COTTON FUTURES
OPENING.
New Orleans, March 19.-Cotton flu
lures opened steady: March, 39.75c: |
May, 37SOc; July, 35.15c; October S2c;
COTTON STATISTICS.
Liverpool, March 19.-Weekly cotton |
statistics: Total forwarded to mills.
1ol, 900 bales; American, $4,000; stock,
! .0SS.oOO; American, $4,000; imports,
116, 900; American so, 900; exports 1000.
LIVERPOOL COTTON.
Liverpool, March 19.-Cotton, spot on
limited demand, prices higher; good
middling, 30,S0d; fully mddling, 29SOd;
2S.S0d; low middling, 235Od;
good ordinary, 22.3Od; ordinary, 21.30d.
Sales, 1000 bales. including 3,100 Amer
lean; receipts, $4,000 bales, including
80. 200 American; futures closed steady: |
March, 26,97d; May, 25.S7d; July, 24.91d:
October, 23.OSd; December, 22.09d; jan
uary, 21.S6d.