Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1920-10-16
COTTON

NEW YORK, Oct. 15.-The cotton market
showed renewed weakness at the opening to-
day, first prices showing declines Of 10 to 81
points, which carried the active months to
new low records. December broke through
the zoe level, selling at 1880, while jan
uafy touched 10. 10c in response TO weak Lty-
erpool cables, nervousness over the British
coal situation, good weather in the belt,
continued hedge selling, and the statement
financing commodities held for higher prices.
There was heavy covering at the decHne,
however, and prices showed rallies OF 30 OF
40 points from the lowest of the first half
hour.
The midmorning rally extended TO 20.35c
for December and 1880 for January, or
about As to so points above the early low
but sentiment was unsettled by conflicting
reports concerning the British coal sltua'
ton and the announcement of another cut
Of cotton goods. This reflected in renewed
selling as soon as the profit-taking of shorts
subsidized and the market later In the morn
ing was less active, with prices sagging
back to nearly the previous low point.
No improvement was reported in the spot
demand, but smaller volume Of hedge sell
ing was attributed to more general holding
by growers in. the south and some trade
buying was reported on the decline.
This gave the market rather steadier
tone during the afternoon, and business was
comparatively quiet around . o'clock, with
prices ruling about SO points lower to 8
points net higher.
NEW YORK COTTON
The following were the ruling prices 10
Che exchange today:
Tone, easy middiing, 22c, steady. ~,
Open High Low. Sa' Us" close,
Jan. :. 1915 1890 10 10 IS 1880 1918
Mar :. Is. O5 10. 6S 10. 90 1881 10. 80 a.
May :. 9.O5 10. 65 900 10. % 10. % TO- IS
July :. 1895 10. 80 1890 1898 1895 -.
Oct. =. 81 90 So .21 2O.21 20. 10 20. 6s
Dec. .. 90. 10 20. As 90 20. 90 20 90 20. so
NEW ORLEANS COTTON
NEW ORLEANS, Oct. 15.-Poor cables and
= the offiSal announcement Of four days rum
ming time for English mills caused an early
drop of 10 to - points in the price of cot
ton today, which carried December off to
10 1Sc. Very bad weather in the western
belt with rainfall up to nearly inches,
Taylor, Tex, reporting 1855 inches, and the
}, fear that the rains would spread to the east
ern belt, caused buying wave and substan-
tial recoveries. so that at the end OF the
first hour of business prices were at net
loss of to % points. The continued re-
fusal of government banking officials to aid
the holding movement among growers seemed
to prevent the market from gaining any real
strength.
Cablegrams from England saying that the
coal strike would go into effect tomorrow
caused fresh selling under which the mar
ket fell off TO about the lowest levels
again. Realizing by shorts, set in and at
IL O'Clock net declines amounted to 20 to
S3 points.
The rumor that President Wilson had or
dered an Investigation of agricultural con-
ditoins in this country was received favor
ably and prices bulged TO levels 10 points
urder to II points over the close of yes
terday, December trading mp to 090c. In
the last quarter hour of the day the mar
ket softened under fear Of what tomorrow
would bring in the coal strike situation In
England and prices fell off about 30 points
frorl the highest.
NEW ORLEANS COTTON
The following were the ru.i res in the
exchange today: