Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1922-05-23
COTTON

NEW YORK, May 22.-Reports Of rains in
the southwest led to a sharp advance in
the cotton market at the opening today.
First prices were 3 points lower on the May,
but generally % to SO points higher with
the tone firm, and active months soon
showed net gains of % to Al points with
July selling at 20.2S and October at 20.lo'
There was realizing by commission houses
on the advance, but the offerings were ao-
sorbed by active covering and there also
was some trade buying on the ram news
from Texas and Oklahoma. The first open
ing of sterling exchange and further al
vance in bar silver at London probably con-
ributed to the early advance, but the cher
factor was the unfavorable weather anu
crop news. Liverpool and New Orleans were
good buyers here.
Il pto 2O39, and October to 20.30 or Al to
% points above last weeks closing flgures.
The demand then tapered off and there
were reactions of some Is or 70 points
from the best later in the morning under
realizing Wall Street and Western selling:
Trading became quiet at the decline ana
the market Eeld fairly steady early IN the
noon hour on the outlook for continued I'M
settled weather with showers over the
entire belt except for west Texas
NEW YORK COTTON
The following were the ruling prices u
~" exchange today:
Tone steady; middling,, DISCO; quiet.
omen High. Low. sale Close Clos'
Ian. 10. so &c. O6 10. IS 81 1881 10. Go
March 10. 20 10. SO 1866 1898 1895 1915
May 81. 90 81. 80 81. II 1.53 81 SO 81. 20
July 20. 10 20. 80 20. O6 2O.30 0.36 1890
Oct. 20. 90 20. 81 1896 2O.O6 2o.o6 1917
Dec. 90 OS 20. 81 10. 80 1898 9.8s 1871
NEW ORLEANS COTTON
NEW ORLEANS, May 22.-Much rain In
The cotton region, with private reports tell
ing OF very heavy rains and damaging
I windstorms in portions OF TeHas ana okla.
homa caused a sharp rise in the price OF
cotton today In the first hour OF the SEES
sion the trading months advanced 81 to Al
points, carrying Jnly up to 2o.l9. Inc con
tract ring was extremely active as the mar
ket made its gains.
Extremely heavy liquidation came from
owners of long contracts, causing fairly
sharp reaction. In the trad1ns up 10 l
o'clock the gains were reduced 10 10 "
points July dropping back to 1851 Inc
market was steady at the decline but the
volume of realizing was such that the de.
mand was more than filled in spite OF
the unfavorable character OIL weather re-
ports. co
Private reports from Texas and Geor--
Ria claiming that weevils were so numerous
In seem localities in both states that cot
ton was being plowed up, caused strong
rally which toward 1890 O'Clock put July
back up to 20.07 cents a pound.
NEW ORLEANS COTTON
The following we're the ruling prices IN
tha exchange today:
Middling, zoe; steady.
Open. High. Low. Sale. Close. Close
Jan. 10 40 10. A 19. IL 81 1927 10 .OS
March TO- 81 10. % 10. os IA 10. II Is. SO
May .2021 20 p 10. 81 20. OS 1000 Is. 93
July 10 95 20. 10 10. "a 20. 90 80 10. 10
Oct. 10. so 19.7s 10. As 1857 1857 1888.
Dec. 10. 90 49, 63 10. 81 10. Al 10. Al 10 %
NEW ORLEANS SPOT COTTON
NEW ORLEANS, May 22.-Spot cotton
quiet and unchanged. Sales on the spot $50
bales: to arrive II. Low middling 1879;
middling 1000; good middling 21.OO. Re-
ceipts 2,808 Stock 203, 456.
SPOT COTTON MARKET
Atlanta. steady, 20c.
New Orleans. steady, 20c.
New York, quiet, 1.S0c.
Philadelphia, steady. 22.05c.
Norfolk, steady, zoe.
Savannah, steady, zoe.
ST. Louis steady, 1850.
Little Rock steady, 1920.
Houston, steady, 20.25c.
Dallas. steady, 1850.
Wilmington, nominal
Galveston, steady, 2O35c.
Montgomery, steady. 1870.
Mobile, steady. 1920.
Memphis, steady, 19.75c.
Augusta, steady, 1880.
ATLANTA SPOT COTTON
Atlanta spot cotton ..... ....... zoe
REGENTS ~ ,.., 800
shipments ...... ......5..... lon