Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1922-10-26
COTTON

NEW YORK, Oct. 25.-Thc cotton market
showed renewed firmness this morning ow-
ing to a continue ton of yesterdays buying
movement, with prices making new high
records for the season on all months eX-
cept October. The opening advance of TO
II points met considerable realizing and
scattering southern selling but the offerings
were readily absorbed with December selling
up o-24.17 and January to 1892 during the
early trading, or about IA TO 10 points net
higher. The census report showing 6,962 OBJ
bales ginned to October vas almost exactly
in line with expectations, ana had no APP
parent effect on the early market.
After selling at 24.1S for DECEMBER and
%. 95 for January on the early advance, the
market became unsettled under heavy real
izing Local brokers reported little hedge
selling from the south but profit taking
by recent buyers was sufficient TO cause
sharp reactions late. December sold off to
% 81 and January % SO, or about 30 TO 81
points from the best. and ii to ID points
net lower. few stop orders were uncoV-
cred on this decline and after their exc
cution the market steadied up . or III
points from the lowest but the tone was
nervous around midday. No fresh news rae
tors were connected with the forenoon tluc-
tuations which were considered largely Que
to technical conditions.
There renewal of the buying move
ment during the middle of the afternoon
owing TO continued bullish southern spot
adyices and reports that trade interests
had taken a good many contracts on the
forenoon reaction. Prices made new hlGh
records in consequence, with December al
Tancing TO 81 49, or about - to 81 points
net higher on the active positions.
NEW YORK COTTON
The following were the ruling prices -
the exchange '1dav:,
Tone, steady; middling, 24.35c.
Omen High. Low. Sale. Close. Close
% 10 81
March 1892 2424 23.67 24.o5 24.o3 %. 81
May .... 1880 24.12 1880 239s 2s.9s 2S.7s
July .....23.67 1855 1885 % SO 1910 1855
Oct. go. 1890 2392 1888 1858 800. 23.S5
Dec. .....24o5 24.43 1881 "A % p. % 24.03
NEW ORLEANS COTTON
NEW ORLEANS, La, Oct. 25.-The open
ing in cotton today was nervous and unset
tied, cables being poor while ginning figures
OF 6,962,O34 to the 18th of October about
met average expectations. The weekly crop
reports from the government were cons!d-
cred highly unfavorable, indicating that pick
ing and ginning were completed over large
and important areas. After trading to 6
points under the close of yesterday the
market rose to levels to IA points over
yesterdays final prices. December sold as
low 1886 and high as 23.47 in the
first half hour of the session.
December traded high % .55, main
Iy on the unfayorable tone of the weekly
crop reports. Here tn. active months were
at net advances of 10 to IA points, realiz-
ing by longs became extremely heavy for
while and December broke to %. Is, the list
showing net losses of 81 to 90 points. At
noon the tone was steadier with December
Eat % 80.
Trade buying entered the market and
prices were forced new high levels. The
market became active and excited follow
ing the receipts of reports from the in
terror to the effect that spots were be-
coming harder to buy. In the trading
up to 1:30 o'clock December was lifted to
23.S1, and the active months to net gains I
of thirty-nine to forty-two points.
NEW ORLEANS COTTON
The following were the ruling prices II
the exchange today:
Tone, steady; middling, 23.62c, steady.