Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1922-11-16
COTTON

NEW YORK, Nov. 15.-Trading was very
aactive at the opening Of the cotton market
today. There were heavy overnight selling
orders around the ring brought in by the
decline of late yesterday and further selling
seemed to be promoted by uncertainty over
the German political situation. First prices
were easy at decline of is to Al points IN
consequent, but the trade was buyer,
while there was a great deal OF covering
and fresh commission buying and after sell
ing off to 25.24c at the start, January con,
tracts soon rallied at 20.62c, or WITHIN l.
points of yesterdays close. Private cables
reported American selling in Liverpool and
Iaid that Manchester was complaining OF
poor home trade.
The early rally met renewed realizing Off
a reaction around -. roc for January, but on
reactions to 25.54c the market turned stead
Ter again on trade buying. This sent prices
higher and there was a furry OF covering
around midday, with January selling up TO
25.76 or two points above yesterdays clos
ing. There were renewed rumors OF an
easier spot basis at some eastern belt points,
but nearly all the advices from the south
said holders were refusing TO tolloW tue
decline in futures.
The advance extended to 1892 for Jan
nary during the early afternoon or 6S
points from the low level of the morning
and Is points net higher on continued Gov
ering and trade buying. There was lit
tie more realizing at this level but tho
market quiet and steady around
o'clock and prices held within or 10
points of the best
NEW YORK COTTON
The following we're the ruling prices in the
exchange today:
Tone, steady; middling 26.3Oc; quiet.
Last Prev.
Open High. Low. Sale. Close Close.
Jan. ...25. 80 % OF %. "a &c. OF &c 03 25. IA
4
May ...25 % % SO % % 81 %. So %. 81
July PA. 90 % so q. 80 $3.50 25.47 %. %
Dec. :. 20. so &c. 20 %. so 10 2617 %. SO
NEW ORLEANS COTTON
NEW ORLEANS, Nov. 15.-Extremely
heavy liQuida ton Of long contracts mixed
with new selling put the cotton market 40
TO 80 points down in the first few minutes
of the session today. Almost Immediately
support was met and trade was credited
with supplying most of the buying orders.
Prices recovered easily and at the end OF
the first half hour of business were within
4 to Ia points of yesterdays close. Decem-
Der fell off to 2.90c and recovered to
25.20c.
Rumors that private ginning returns were
exceedingly bullish ard many kilograms
from the interior to the effect that spot
holders were refusing to meet recent de-
clines gave the market a very firm tone.
Shorts commenced to cover and new buy
Ing increased with the result that toward
noon december was up 10 ZJ.4t WITH the
trading months showing advances over yes
terdays close of II to % points.
Exports from all ports for the day of
1902 bales were large enough to excite
much attention and further buying carried
December up to 25.55, where the list showed
net ganis of % to 80 points, in the trading
up to 1:30 O'clock
NEW ORLEANS COTTON
The following were the ruling prices in the
exchange today:
Tone, steady; middling, 25.S7c; steady.
Last Prev.
Open. High. Low. Sale. Close Close
Jan. ...25. 90 %. Il "a. ss %. 81 % so %. 30
March PA. 90 %. 6s "a. IS 25. SO 25 81 % %
May ...24.73 JAG 4.73 %. 40 %. 50 q. IL
July PAP %. 90 a 81 % Ii o. 10 q IS