Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1922-10-31
COTTON

NEW YORK, Oct. 30.-The cotton market
opened firm at an advance of 23 to Sc
points, with all months making high records
for the season on a renewal of last weeks
buying movement and in response to rela-
lively firm cables Brokers with both Liv-
erpool and domestic trade connections were
active buyers at the opening, while there
was a good commission house demand and
further covering, but the advance met
good deal of southern selling and realizing.
This was sufficient to cause some irregu-
larity during the early trading, and after
selling at 24,47c for December and 24.20 for
January. the market worked off few
points from the best. Liverpool reported
the advance there was due to covering and
spinners calling, but complained of CIV
orally dull business in Manchester.
The early buying movement absorbed Of
ferings on comparatively slight setbacks and
sent the market up to 2453c for DecemoeS
and 24.29c for January. or about % to 80
peared to slacken somewhat and the mar
ket turned shade easier under realizing
and scattered southern hedging. BY midday
December had reacted to 24.3Oc and Jan
nary to 24.06c, or about 20 to % points,
from the best A little more southern sell
ing was reported, but no change was noted
in the general average of the news from
southern spot markets and brokers attrihut-
ed the reactions to profit-takinga attracted
by the new high prices.
There was further realizing during the
contracts easing off from 2455 to 24.27,
and with the general market ruling about
eight to twelve points net higher around
O'Clock. Wall street a moderate sell
err on the decline, and a disposition to take
profit on large accounts was prompted by
reports of an easier tone in the stock mar
ket.
NEW YORK COTTON
The following were the ruling prices =
the exchange t1day:
Tone, barely Steady; middling, 24.30c;
quiet.
Open. High. Low. Sale. Close. Close
JAM =. 2415 "a. 20 % 81 1886 80 % 80
Mar. :. "a 80 "a So "a. Oh 24.O3 .01 % 90
May :. q. 20 "a. "a %. 90 % 80 %. 80 % 81
July E. % .95 24.OO %. 81 %. 6s 1857 $3.50
Dec. E. 4.35 4.55 "a 10 "a. % 24.2O "a. 10
NEW ORLEANS COTTON
NEW ORLEANS, La. Oct. 3O.-A strong
Liverpool market and claims from the IN
terror of a good spot demand and only lin
tied offerings put the price of cotton higher
today, the trading months rising ~ to IS
points in the first half hour of the session.
December advanced to 23.92c pound, and
all months met new high records for the
season.
At the highest Of the morning prices
were 81 to SO points up, December stand
ing at 1884 cents a pound. Hedge sellng
became heavy, some Manchester cables talk
ed of further short time among the mills
and a great deal of liquidation came from
the long side, with the result that the
gains were reduced to only IA to 10 points.
Support was offered the market at the De
cline and toward noon prices were back
again at the highest on some positions
while others were within five points of
the highest.
Liquidation in the afternoon and at 80
o'clock prices were eleven to sixteen points
over last weeks close. December dropped
off to 23.67c.
NEW ORLEANS COTTON
The following were the ruling prices IN
the exchange today:
Tone Steady; middling o3.25c; steady.
Last Prev.
Open. High. Low. Sale. Close. Close.
Jan. :. %. rs % 90 %. 60 30 60 %. GO 90 81
Mar. =. % 50 % "a % 60 IS go 90. 62 % Sc
May :. % 20 % so 90 so % 30 %. SO %. 4G
July =. % 80 90. &c % 81 % 40 %. 40 % 80
Dec. =. %. 10 %. 94 %. so % 60 % 60 % Sc
LIVERPOOL COTTON
Tone steady; sales, 10000; good mid
ding, Hid.
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