Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1921-08-30
MAY OPTIONS LEAD
!. LIST At 1870 CTS;
MARCH 1850 CTS.
Poor Liverpool Cables and
Profit-Taking Fails to
Halt General Bull Move
ment-Buying General

Poor Liverpool cables and some
profit-taking failed to halt the bull
movement on the New York cotton
exchange Monday morning and new
high marks for all active options
were registered, the maximum adj
vance over the previous close being
so points, or $3.50 per bale. Anothef
factor in the advance was a private
bureau condition report of sos per
cent.
The advance Monday put all CON.
tracts above 16 cents, May getting
we'll on the way to the 17-cent mark
at 1870. May opened at 1925, {
points over the Saturday closing fig
ure. March opened at 1912, the pre-
vious close, and sold up to 1850
January opened points down al
1896, and at this hour had made
high of 1850.
October and December options were
high at 1910 and 16.4S respectively,
having opened at 1910 and 1890.
Outside buying again was mani
fest early in the session though
there was some tendency to take
resulted in a slight recession al.
though the market held up remark
ably we'll against covering. Approx.
imately 20 points all along the line
represented the dip, October sellinS
at 1890, December at 1929, January
at 1923, March at 1910 and May at
1850.
October options in New Orleans
opened at 1880 and soon was bid up
to 1885, while March, opening al
1878, passed the 16-cent mark at
1929.
Atlanta spot followed the advance
with jump of 40 points at Is cents
over the close Saturday at 1850. Tho
total gain here in two days was Vi
points or 1915 per bale. New York
spots were up 40 points, at 1906, and
New Orleans up 81 points at 14.SS.
New York futures closed at a net adj
vance of from $1.60 to 81 bale. 1t
was a new high mark for the year in
Atlanta. ~,
Spot cotton here was quoted at
1850 Saturday, 38 points over tho
previous close, making new high
mark since January. AS the aver
age bale of cotton is reckoned at 500
pounds, that means approximately
SIS per bale against II cents a pound
in March, or $55 a bale. In other
words, Georgia's estimated crop of
100000 bales which was worth $44,-
100000 when the seed went into the
ground, now is worth $60,000,00
gain of $16,0OO,0OO for the yield in
five months.
A similar computation fixes the
value today of the entire crop in the
south at $525.00O,0oO against $685.
100000 in March. This is based on
a total yield of 100000 bales,
which now appears to be the near
est estimate of tho coming crop.
SPOTS IN GREENVILLE
QUOTED AT Is 1-2 CENTS
GREENVILLE, S. c., Aug. 20
Local spot cotton reached the highest
price which has Offered in many
months, when fifteen and one-hall
cents was quoted by Greenville buy
ers today. Opinions expressed by
members Of Greenville cotton firms
are more sanguine than for many
months, with the consensus Of opin-
ion being that cotton will sell several
cents higher than the present quota
lions before the end of the season.
Statements obtained from cotton mer-
chants in several Carolina cities were
bulHsh.
"Textiles are stronger than cottoni
and the mills will experience very
satisfactory manufacturing condi7
q 70 ~
a statement by Cooper & Griffin,
cotton, which has offices throughout
the south.
"The settlement Of = the textile
workers strike in North Carolina, TO-
gether with an improved demand for
the products of southern mills has
acted as decided stimulus to the
market" says Weld & Cothran.