Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1920-03-25
COTTON

NEW YORK, March 24.-The cotton mar
ket was extremely nervous and unsettled
owing to a sensational break in March con-
tracts at the opening today. Inc first sale
of that delivery was at Al .40c and the sec
ond at 4G.25c, making a net decline of 255
points and a break of 293 points from yes
tCrday's high level. Only one notice was
issued. but it looked as though shorts had
covered CIR yesterdays advance, and the
weakness of the spot month led to liquida-
ton of later deliveries. The opening was
71poirts lower to points higher, except
for March, and the more active positions
sold about 20 to 80 points under last nights
closing during the early trading.
March became inactive after the opening
and seemingly imparteds its hstlessness to
the rest of the list. Renewed selling press
IRE came into evidence at 1 O'Clock and
finding a total absence of buying power re
sultel in further break of 40 points.
The favorable weather map and relatively
easy cables probably promoted some selling
for a reaction as well as realizing during
the first hour. May contracts sold off to
$50 and October to 81 .O5. or AZ to 90
points below last nights closing figures
after which prices steadied on covering.
Trading became quiet rallies oils or 20
points from the lowest with active months
ruling about % to AZ points net lower
around midday. Liverpool reported receipt
Of advices there from Roubaix, France, stat
ing that general strike had been threat
ened for March % unless labor disputes
in the textile industry were settled mean
wrlle.
The midday rallies of some 20 to %
points brought out renewed liquidation and
selling became more general during the
middle of the afternoon. March contracts
sold off to 40 DOC, or $50 points net lower,
while May broke to 37S0c, and October to
81. SIC, or 81 to 80 points below last nights
closing.
NEW YORK COTTON
The following were the ruling prices on
Tone, steady; middllns, 42c, quiet,
Open, High. Low. Sale. Close. Close.
JAM :. 81 .05 81. O5 80. SO 30. 33 30. % 81 90
Mar =. Al 40 41.40 80 80 40. 90 400 40. so
May =. SO. so 1885 37.70 S7.74 1910 SO.
July :. So. 80 IS. IS 35 .07 81. 15 IS. 1885 SO
Oct. :. 80. 40 80. 40 31.75 31.75 31.75 80. 90
&c. :. 81. 60 81. so 3O49o 5000 80. 80 S1.72
NEW ORLEANS COTTON
NEW ORLEANS, March 24.-Heavy SELL
ing opened the trading in cotton today, and
in the first half hour of business prices fell
q to so points, May landing at 37.5Oc and
October at 31.97c. May was the weakest
month in the list. The bulk of the offerings
seemed to arise from the unfavorable opin-
ion held of the situation in Germany, but
TO Right rains in Texas, where they were
needed, and some of the pressure was due
to it.
Selling continued until the trading months
were 45 to SO points under the close of yes
terday. The governments review of rcrop
and weather conditions for the last week
was regarded as unfavorable, on the whole,
and it caused moderate buying. Late in
the morning prices were at net advances
of 81 to Al points.
Reports of rains in northern portions of
Texas were accepted as very favorable
new rop development, and they aroused
fresh selling. At 1 o'clock prices were 5S
to "A points under the close of yesterday.
NEW ORLEANS COTTON
The following were the ruling prices in the
exchange today: -,
Tone, steady; midling 40. 75s steady.