Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1921-06-18
COTTON

NEW YORK, June 17.-Yesterday's sharp
break was followed by rallies in the cotton
market during today's early trading. There
were overnight selling orders around the
ring, probably the result of increased mar
gin requirements after yesterdays decline,
but the pressure was not as active as on
the previous day, and the market soon
steadied on commission house buying and
covering. The latter was promoted by more
encouraging reports from the British coal
strike situation and the relatively steady
ruling of Liverpool. The local market opened
net points higher to points lower, but,
after showing losses of some to points,
rallied to 12.55c for October, or points
net higher.
The selling movement became much less
active early in the afternoon, while fur
Their trade buying was reported and the
market was steadier around O'Clock with
prices showing rallies of 20 or % points
from the lowest
The early rally met renewed liquidation
and more or less general selling in which
Wall street was particularly active. The
continued favorable progress of the crop and
increasing nervousness over the British. Ia
Dor situation combined with the unsettled
tone of the stock market for foreign ex.
change seemed ito weaken the confluence CT
remaining longs. Stop-loss orders were I'M
covered and the market was very weak TO-
ward midday with both July and October
contracts making new low records dor tne
season. July sold off to II. 10 and OCTOBER
to 11.S6, or SO to 81 points net lower.
NEW YORK COTTON
The following were the ruling urices u
The exchange today:
Open. High. Low. Sale. Close. Close.
Jan. .oS 1915 IL. 80 1924 u. Sc 1903
Mch. ..d3.49 .55 1924 1918 10 OF IS. As
July lilo 11.77 lilo 1.23 30 11.69
Oct. ...12.52 12.56 11.ss 1903 1908 12.47
Dec. ...12.97 los 1888 1850 1880 12.97
NEW ORLEANS COTTON
NEW ORLEANS, June 17.-While the
cotton market tried hard to react from the
decline today, rallies in the early tradlne
were short lived, as fresh selling constantly
came out because of private cablegrams from
England saying that the coal strike would
continue. After a hestating and somewhat
lower opening, the market moved up 10
levels to points over the close OF yes
terday, July touching 11.20c. Selling grad
TALLY increased, and at the end of the first
hour of business the more active months
were IS to q points under the final prices
of yesterday. with July off to the new low
price for the season of 1096c.
As the market fell it ran into extremely
heavy liquidati ton which accelerated the de-
cline. Toward II o'clock all months were at
new low levels, July being down to 1O.3l,
showing net declines of 6S to IA points.
Very little new demand met the decline.
In the late trading shorts took profits and
caused an upward reaction of 20 to %
points, July coming back to 1O11.
NEW ORLEANS COTTON
The following were the ruling prices il
The exchange today:
Tone, barely steady; middling' lo7oc'
Last Prev.
Open. High. Low. Sale. Close. Close.
Jan. 10. SO IL. So II. 81 1882 .o5 $50
Mch. 10. so IL. 81 j. 33 Isl "a 1892
July Lille 11.25 10. 81 1895 O.65 IL. %
Oct. ...11.95 1904 IL % IL. As las 1902
Dec. ...12.O s 12.47 11.75 11.9O 11.9O 12.43
NEW ORLEANS SPOT COTTON
NEW ORLEANS, June 17.-Spot cotton
quiet, 25 lower; sales ON the spot, II bales;
to arrive, 65; low middling, $3.50; mid
ding, 10. 70; good middling, 1900; receipts,
1888; stock, 413,S34