The Chattanooga news. [volume] (Chattanooga, Tenn.) 1891-1939, 1920-10-26
COTTON MARKET SHOWS
REACTIONARY SENTIMENT

New York. Oct. 26.--The cotton mar
ket was irregular during todays early
trading. The Liverpool cables were
about as due. and there was a good deal
Of reactionary sentiment here after the
recovery OF approximately &c per pound
from the recent low records. This was
reflected In realizing and scattered SELL
ing, and after opening at a decline OF 3
to 81 points, active months soon showed
net losses OF 40 to so points with De-
cember selling at n .5Sc and January
at 2i.15c. Rather sharp rallies followed
on renewed covering by near month
shorts, but they were not sustained,
and while the south was not a very ac-
tive seller. somewhat larger offerings
were reported from that source.
Trading was comparatively quiet and
fluctuations irregular later. but the wet
weather map created some buying, and
the decline was checked around n ACC
for December and 81 05c for January, or
about 40 to SO points net lower. Raj
lies on covering and continued Liverpool
buying. with the market only 10 or 10
points below last nights closing around
midday. Brokers with Memphis and
southwestern connections were buyers
presumably on the unfavorable weather
and damage to the cotton open in the
fields.
A continuance Of the Liverpool buy
ing after the close Of the Liverpool
ers as indicating that foreign spinners
were beginning to provide for part OF
their forward requirements and the
market showed Increased strength dur
ing the early afternoon, Covering by
early sellers for a reaction promoted
for December and 81 .92c for January,
or 80 to 81 points net higher.
NEW ORLEANS COTTON.
New Orleans, Oct. 26.-Better cables
than due and wet weather in the belt
put the price Of cotton 2 to 20 points
higher on the opening call today. but
the Improvement was met by liquida-
ton from the long side and break en-.
business prices were SO to Il points
under the close Of yesterdays. Decent
Der traded up to 81 .43c and fell back
to 20. 90c. Much OF the selling appeared
to be caused by disappointment that
yesterdays rumors Of ,the settlement OF
the British Coz. coal strike did not have a
Private reports from the interior that
recent rains had done much damage TO
the crop, claims that higher grades were
being very tightly held, the proclama-
ton by Gov. Parker. calling on Loui-
siana ginners to shut down and a Lon
don cablegram stating that an agree
ment on the coal strike appeared to be
near at hand, all worked to put the
market higher Late in the morning the
active months were 20 to 30 points over
the close of yesterday. with December
up to 1850.
Claims from Texas markets Of the
best demand for spots In several weeks
further increased the demgad and put
December to % .05c, at which level the
list showed net gains Of IS to 81 points.
Toward the close much, realizing was
done by longs and It caused a reaction
Of nearly half cent, from the highest
levels.
NEW ORLEANS SPOT COTTON.
New Orleans, Oct. 26.-Spot. cotton
steady, 1875 points up; sales eso on ha thNspos,
1880; middling. 81 .75c; good
middling. 2S.75c; receipts, 5,OOS bales;
stock. 270,77S bales.
NEW ORLEANS COTTON FUTURES
OPENING
New Orleans, Oct. 26.--Cotton futures
opened steady: November, 0.70c bid;
December. 21.4Sc; January, 81 .l0c;
March. 20.74c; May, 20.6Od2o. ebc; july
20 .43c.
NEW ORLEANS COTTON FUTURES
New Orleans, Oct. 26.-Cotton futures
closed steady at net advance of Is to
80 points: December. Fl .55c; January,
81 zoe; March. 2O.95c; May, 2O.75c;
July, 20.55c.
NEW YORK COTTON FUTURES
OPENING
New York. Oct. 26.--Cotton futures
opened steady: December, q .1Sc; jan
uary, 81 Soc: March. zoe; May,
20. Csc; July, 20.70c.
NEW YORK COTTON FUTURES
CLOSING,
New York, Oct. 26.--Cotton futures
closed barely steady: December, %. loo;
January, ri .75c: March, n CSC; May,
81 loo: July. 10000.
LIVERPOOL COTTON.
Liverpool. Oct. 26.---Cotton spot In fair
demand; prices Arm; good middling,
10 sid; fully middling, IS 56d; middling.
II .06d; low middling. S.26d; good or
binary. 10. sid; ordinary. 9.31d: sales,
q, 900 bales, including 400 American:
receipts, 10000 bales including ID. 400
American; futures closed steady: Oc-
tober, 16. 36d: December. 16 16d; Janu-
airy, is SD; March, Is. SID; May. 1S.24d;
July, is God; September. 1860.
.either on their own initiative or on we
complaint of producer or shipper.
To assist in financing the United
IA Tt,a