Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1922-06-08
COTTON

NEW YORK, June THE cotton market
opened at an advance of 5 to 16 points
on reports of rains in the south, steady
Liverpool cables and Wall street and scat
tered buying. There was also some Liver
pool buying of crops but the advance
was soon checked by New Orleans selling
and light liquidation. After selling at
20.45, October eased off to 20.35 with
active months generally showing reactions
of 8 or 10 points from the best. According
to private reports rains were more or less
general in north and central sections of
Texas and it was expected that the weather.
map would show considerable precipitat
ton, but that the weekly report of the
weather bureau would be about stand
off. Private cables said the Liverpool
market was quiet but steady on covering
and that business was restricted by the
holidays.
The market became firmer in the aft
ernoon by buying by recent sellers and COW
ering promoted by the daily weather de-
tails confirming private rain reports and
reports of stiff spot basis in the south
July sold up to POTS and October to 2O.e4,
Or 40 to 56 points net higher.
Wet weather and unfavOrable private
crop advices failed to inspire any fresh
buying of consequence, and the market
was quiet later in the morning with prices
showing tendency to ease off under scat
tered liquidation July sold down to 20.4O
or points net lower shortly after midday
and sold on about even terms with Oc-
tober, which held few points above yes
terdays closing figures. Later months
were relatively steady showing net ad-
vances of some s to 10 points The week
1y report of the weather bureau was with
out any apparent effect on the market.
NEW YORK COTTON
The following were the ruling prices 10
the exchange today:
Last Prev.
Open. High. Low. Sale. Close. Close.
Jan. 20. IL 81 .03 90 81 .O2 81 .O2 20. O6
Mch. 10 95 20. 90 IS. "a 90 So 20. IS 1890
July 20. so 81 % 2O.4o 21.21 21.2o 20. 80
Oct. 20. 40 81 .27 2O.40 .27 81. % 81. %
Dec. 20 80 81 20 2O.24 81 10 21.15 90 %
NEW ORLEANS COTTON
NEW ORLEANS, June THE rainy
weather over the cotton region, combined
with favorable cables to put cotton mgh-
er today, although the advance was not
rapid. In the first hour of trading prices
were sent 8 to IA points higher than the
close of yesterday to 20.35 for July. Pr1-
vate and official reports indicated that
a great deal of rain had fallen in both the
eastern and western divisions of the belt
and the moisture was regarded as Delns
against cultivation of the crop, and FAVOR
able to boil weevil activities.
Price movements were narrow for awhile,
but toward IL O'Clock there was sudden
bulge due to buying aroused by the unfavor-
able tone of the weekly crop reports from
the government. July rose to 2O.6O, at
which level the trading months showed
gains of "a to 81 points.
Heavy covering of the short interest
started apparently being aroused by the
many complaints concerning the boil weevll
that were coming from the belt. and the
advance became very rapid In the trading
up to 1890 o'clock. July rose to 21.O3,
and the active months were sent eighty
to ninety-three points higher than the last
quotations of yesterday.
NEW ORLEANS COTTON
The following were the ruling prizes II
he exchange today:
Tone, firm; middling, 20.SSc, steady.
Last Prev.
Oper. High. Low. Sale. Close. Close
Jan. 10 So 20. 81 10. so 90 "a 20.53 1914
Mich. 10. 80 20. 81 49, 80 90 81 81 10. 80
July 20. % q. 30 20. "a 81. 10 1.O5 20. 90
Oct. 10. So 10 1917 2O.79 2O.75 1917
Dec. ...19. 6s 20. 6s 81 2O.67 20. 66 10. 90
NEW ORLEANS SPOT COTTON
NE WORLEANS, June Spot cotton,
firm, so points higher; sales on the spot,
1,739; bales to arrive, 1,213; low middling,
1880; middling, 20.SSc; good middling,
21.SSc; receipts, 5,57S; stock, 1890.
SPOT COTTON MARKET
! New Orleans, steady, 20.SSc.
Atlanta, steady, 21.50c.
New York, quiet, 21.70c.
Philadelphia, steady, 21.75c.
Norfolk, steady, 20.7Jc.