Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1921-09-10


Thursday's <sdeclines in New York
cotton futures were followed by re-
coveries of from $2.55 to $500 per
bale Friday, and Atlanta spots fol-
lowing the general advance were up
IS per bale at 1925, the high point
for the movement. Apprehension of
tropical storm reported from the
West Indies and fear of over-Sunday
damage brought about general buy
ing wave that put the market once
more in control Of the long element.
Coupled with this was the con-
crete fact Of short crop, the i'm
polling force that started the initial
advance, and the stabilizer in face
of profit-taking and short selling.
All New York options were well
on the way to 20 cents on the close,
with December leading the list at
1888. October was 1885. January
1850, March 1850, May 1885 and
July 1925. New York spots were
up lis points at 1880 and New Or
leans spots were up 100 points at
10 cents.
The close was steady.
New York and New Orleans opened
strong at net gains of from 81
to rs poitns in New York and
from So to 70 points in New Or
leans. The initnal advance, which
carried all options except October
past the 19-cent level, was checked,
however. with the commencement of
general trading, the south being on
the short side and prices worked off
to few points over tho close Thurs
day for the near months, the far de-
liyeries showing small losses.
In New York October options Were
up, Sc points at 1890, but dropped to
1916. December opened at 1920,
jumped 81 bale and then sold off
to 1892. January, which opened at
1910 receded to 1872. March, May
and July contracts, after showing
gains of more than 60 points over
the previous closing. slumped to net
losses of from to 10 points.
The entire list advanced on better
Liverpool cables and fears of a trop-
ical storm, but profit-taking and
short-selling soon wiped out the
greater part Of the advance.
At the low points, new buying or
ders began to pour into the market,
and around $3.50. Atlanta time, the
list was up from 10 to As points a
bale from the previous close, the
maximum gain representing 1925 per
bale.
The approach of the market to
low points of Thursday appeared to
be the signal for bull support. Re-
4 cessions were not allowed to gain in
momentum, but were checked on
fresh buying orders that kept the
market well above the 18-cent level.
said by experts to be the minimum
value of this years crop as estimat.
ed on the August % condition re-
port at 100000 bales.
Traders are of the opinion that the
normal level of the market should
be around this figure, at the same
time advising caution on heavy buy
ing, except on soft spots.
Around IL o'clock, Atlanta time. a
renewed bull movement had carried
all deliveries past the 19-cent level.
with December leading the list at
1881 and October 1911. January
was. 1903, as was March and May.
It was the high point in the trading
For the session, the near months
Allowing gains of from $3.50 to 1884
per bale over the closing Thursday.
AS the market began to work back
pWard, evidences of a straddle be-
anne apparent, with near contracts
tsslng distant deliveries after hav-
trailed them throughout the SEN
tional perpendicular advance of
trly 1000 points in the past few
eks. Although January, March
May deliveries lead at the open
the differences soon began to
until they were passed by Octo-
and December. 1t seemed as
gh the near months were being
hit against sales of far ones.
'ly in the week March was 80
above October, while at noon
er led March by 8 points.
ain of SO points in the
wing of differences. May.
was so points better than De-
II, was ~ points less, the
lange being 81 points. Janua-
ID July showed similar losses.
inst the gains of more than
gr bale for October and Deem
over the previous close, Janua-
March and May show gains of
from % cents to $1.65 per bale.
noon, Atlanta time, the market
registered new highs for the
with October and December up
IS per bale over the previous
January was up slightly more
$3 per bale, March about $3.50
ale and May and July slightly
han 81 per bale. Near options
showed the greatest advances
er was 1885, December 1850,
ry 1885, Maruh 1890, May 49,
July 1910.
EW OIL LAMP FREE