Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1922-12-09
COTTON

NEW YORK. Dec S.-Tbs cottcE market
opened steady at an advance of to Il
points on higher Liverpool cables, better
Manchester trade reports and more optim-
istic feeling over European affairs. prompt
ed by the steady opening of the stock mar
ket and frmneSs of foreign exchange. The
advance met considerable selling, much OF
which came through houses with New Or
leans connections but which also included
scattering local and commission house lhlul-
dation, due to rather larger ginning figures
than expected. As a result prices broke
rather sharply right after the call, with
January selling down from 4.S2 to 24.ol
or about 3 points net lower. The census
report showed 9,31S, IA bales ginned to
December l. compared with a recent fore
cast of $4,000. 600.
As soon as the early selling orders had
been absorbed around 24.51 for January and
"a SOC for March. the market, became less
active. and steady on renewal OF llGht
covering and commission house buying. Raj
lies later were promoted by the more favor
able view of European political prospects
and reports of a steady southern spot mar
ket. January ruled around 24.13c early IN
the noon hour, or about points net hGher.
favorable Interpretation of the presi-
cents message and reports of bullish week
end figures seemed to stimulate buying 10
some extent during the early afternoon
January sold up to 24.S6, or 20 points and
prices were within 1 or points Oh the
best around l O'Clock.
NEW YORK COTTON
The following were the ruling prices in the
exchange today:
Tone, steady; middling, 24.95c; quiet.
Last Prev.
Open. High. Low. Sale. Close. Close.
Jan. PA so "a. 81 -. 80 "a. IS "a. rs "A. &c
Mich. ..24.9O % .O5 "a. 65 "a. 90 24.94 "a. rs
Nav Pa. 81 "a. 90 "A. 90 "a. 81 "a. So "a. "A
July PA. 4s "a. 81 "a. IS "a. 80 24.55 "a. AZ
Oct. rs .O5 % 20 %. 80 %. Os % .0S o. 81
Dee. ..24.s1 "a. SO n. AS 10 24.T5 "a. 81
NEW ORLEANS COTTON
NEW ORLEANS, Dec. Shelter cables
than due caused higher opening IN the
cotton market today. The ginning returns
TO Hecember 1-9.3 ,144 Eales-just about
met expectations the long side ana pc
fore the first call was over noiders OF long
contracts tried to take profits in rather
large way with the result that the market
was supplied with more contracts than 1t
could absorb. First advances amounted 10
| to IA points after which there was drop
to Levels is to II points under the close
Of Yesterday. January sold up 10 25.fo
cents pound and dropped back to 24.l6 by
the end of the first half of the session.
Trading became light and the market re-
NAMED quiet after the posting of the week
lv statistics, when activity became pro-
nounced because mill takings were much
larger than expected, 43I 900 bales, against
3S3 600 this week last year. In the tradlhg
to % points. carrying January to 24o1c.
Small says under realizing sales from
the long side occurred in the afternoon, but
the undertone held steady on the decrease
this week in the visible supply OF American
cotton of 20. $50 bales. the first decrease
since the movement of the crop reached
fuII proportions, At 1:30 o'clock January
stood at 2447 with the trading months
at net gains of thirteen to fourteen points,
NEW ORLEANS COTTON
n,he following were the ruling prices In tne
exchange today: .,r
Open. High. Low. Sale. Close. Close.
Ian. "a. 40 2457 24.16 "A. 40 "A. AZ 24.54
Mch. ri 50 "a 63 24.19 "a. "a "a. "a "a. 40
Nav .24.35 90 a. ~ "a. Al 24.47 "A 81
July ,.a4.14 2s 3.9j "a. 25 "a "a 24.13
Oct. 2.75 - so %. IS pts 22.75 %. 6S
Dec. PA. 43 "a 53 "a. % "a. 53 "a. "a "a %
SPOT COTTON MARKET
Atlanta, steady, 25.15c.
New York, steady, 24.95c.
New Orleans, steady, 24.5Oc.
Galveston steady, 24.1oc.
Mobile, steady, 24.10c.
Savannah, steady, 24c.
Wilmington, steady, 2430c.
Norfolk, steady, 24.50c.
Boston, steady. 24.Soc.
Philadelphia, steady, 23.1Oc.
Houston, steady, 24T5c.
Memphis, steady, 25.25c.
Augusta. steady, 2460c.
Little Rock, steady, 24.6Oc.
Dallas, steady, 24c.
Montgomery, steady. 24.lOc.
ATLANTA SPOT COTTON
Atlanta spot cotton ............... 25loc
Receipts ........ '''..''..' CIV
Shipments .......-.' -...'-....''''. J. ao9
STOCKS 49,. ............. ''''''''''0@'0o'