Atlanta semi-weekly journal. (Atlanta, Ga.) 1898-1920, 1920-01-06
COTTON

NEW YORK, Jan. 5.-The cotton mar
at the opening today owing to the high "a
bles and a continuation of Saturdays buy
ing movement. The opening frmness of the
stock market encouraged optimism over
general conditions and there was trading
buying as well as anactive commission house
demand First prices We're 80 to 50 points
net higher, making new high ground for
the movement, with March selling at 1921
and July at 1896 or 40 to 81 points net
higher during the first few minutes. These
prices attracted realizing, however, while
there considerable southern eslling,
which caused reactions of several points
from the best.
October was relatively firm on the fore
noon advance, selling up to 81 90 or 81
points net higher on Liverpool and other
foreign trade buying which was believed to
be partly against forward sales of goods.
After the close of Liverpool however, de-
mand was less active and there were rae
tionS later in the morning under realizing.
further southern hedge selling and scattering
local pressure based on the easier technical
position of the market. March sold off to
1910 and July to SO co. about 30 to so
points from the early high level. Liverpool
cables said there had been an accumulation
of buying orders there from all quarters
over the holiday.
The midday reaction Rcarried March off
to 6.55 or 20 points net lower, while July
lost all but points of its early advance.
but prices firmed up later the continued
heavy export and covering. March rallied
to 1855, making a net advance of 10 points
while July sold at 33. 60 or 40 points net
higher. Exports for the day were over TO-
600 bales and the movement for the season
to date shows more than a million bales
excess over last year.
NEW YORK COTTON
The following were the ruling prices in
Tone, steady, middling, so Csc, quiet.
Open. High. Low! Sale. Close. Close.
Jan. .. SO. so $3.50 3S. 10 SO. so 3s. 40 IS. 80
Mar =. 81. 90 81 81 SO. So SO. S3 SO. SO Sc. 75
May >. 80. go So 80. 10 So .43 80 40 35. 10
July e. 80. rs SO 95 SO. 81 SO. 80 SO. 70 81. 20
Oct e. $3.50 81. 90 80. so 81. O5 80. % &c. Is
Dec. =. -. 49,. go. .... 30.30 500.
NEW ORLEANS COTTON
NEW ORLEANS, Jan. 5.-Much better
Liverpool cables than due caused a rise of
20" to 81 points in the first half hour of
trading in cotton today, January going to
the new high record level for that position
of 1000 cents pound. March bulged to
1925. Considerable selling met the market
as it advanced and was based on the local
strike of railroad freight handlers which
threatened to prevent the free movement OF
cotton.
Irregularity developed, the near positions
ouOWAuB "SdhHeSS buueE IIqu4udJ1Ou OIL long
contracts, while the distant months were
comparatively steady. Late in the morning
the list was 81 points net lower to 80
points net higher, but January was the only
month to break below the level of last
weeks close. The spot position was easy in
the fact of reports of some little spot bus
ness doing at prices higher than board quo
tations of 1925 for middling.
Liquidation increased and offerings of
short cotton became more liberal on the
view that the. market was entitled to a
prolonged reaction. January and October
showed only narrow changes, but months
in between were depressed, standing toward
l O'Clock, 2 points above 81 points below
the close of Saturday. At the same time
January was at net decline Of 80 points
NEW ORLEANS COTTON
The following were the ruling prices in
the exchange today:
Tone, steady; middlnig, 41c.
Open. High. Low. Sale. Close! Close.
Jan. ...99. 95 40. 90 80. so SO. 80 SO 80 80 80
Mch. ...Ss. 10 SO. % 81. 80 81. 90 81. 80 37.77
May SO. 80 SO. 4s 81. Is SO. IT So. 10 So 90
July IA so "a. "a "a. OS "a. 4S "a. 45 "a. O6
Oct. ...SO.70 S1.14 80. So 80. 05 80. 90 80. So
Dec. ........ ..... 81. 49,. SO.45 49,.
NEW ORLEANS SPOT COTTON
NEW ORLEANS, Jan. 5.-Spot cotton
steady; quotations revised; middling, 70
points higher; sales on the spot, 2,277; to
arrive, 1887 low middling, 1850; middlng,
400; good middling, 1890; receipts, H.
160; stock, 500, 999.