Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1922-11-07
COTTON

NEW YORK, Nov. 6.-NervOus over the
Near Eastern situation and the easier rul-
ing of foreign exchange rates were consd-
cred partly responsible for very heavy real
izing or pr0fit-takng in the cotton market
at the opening today. The selling was very
general and heavy and first prices were
easy at a decline of 20 TO 30 points, but Of
ferings rapidly absorbed, by a con-
tinued active trade and commission house
demand with the result that the market
soon steadied up from the lowest Decem-
Der contracts which had sold eff to 25.2uc
rallied to 25.36c, and January from 24.SGc
to sole within the first few minutes. al
though che selling continued active and
there was evidently disposition to even
up long contracts for over the holiday to-
morrow Liverpool made steady showing
with private cables reporting trade buying
and small offerings. but complaining of only
a very moderate business in Manchester.
The early bulge was soon checked by con-
tinued heavy liquidation or realizing, and
prices sold off to 24.10c for December and
"a S2c for January, or about so to 80 points
net lower. Many contracts were absorbed
on this decline which reported to be
bringing in a considerable domestic and for
eign trade demand, and as soon as offerings
slackeued off prices steadied on reports of
a firm spot situation in the south. Deem
Der rallied to 25.25c and January to 24.99c.
but this Improvement was not fully main
tsined and the market was less active, but
cher unsettled around midday. Houses
with continental, japanese and New Eng
st~AN
the declines.
Trading was gutter during the middle of
the afternoon with prices 20 to 2S Points
net lower. December ruling around G0.23.
NEW YORK COTTON
The following were the ruling prices IS
ihP exchange today:
Tone, steady; middling, 259Oc; quiet:
Open. High. Low. Sale. Close. Close.
Jan. -. "a. 81 %. Is "a 50 %. 10 25.13 %. 20
~ . q
Nav =. q. so "a. 76 "a 43 IA. II "a. 20 "a. "A
July =. 2415 40 "a o2 "a SO "a 3s "a. 40
Dec. :. o525 %. 40 %. 10 %. "A %. 81 5.4S
NEW ORLEANS COTTON
NEW ORLEANS, Nov. 6.-An unfavor-
able opinion eof foreign political news
prompted heavy liquidation of sales on the
long side of the cotton market today ana
a break of s. to AZ points opened the SEES
sion. After December had fallen to "a 4Oc'
determined support was offered and Decem-
her recovered to 24.65c at the end of the
first half hour of trading. At this level
the active positions showed losses of III to
Is points. compared with last weeks clos +,
ing quota tiOnS.
At levels 10 to IA points under Saturdays
close selling commenced again, apparently
being stimulated by the fact that tomorrow
will be holiday in American markets. To-
ward noon prices were 81 to 43 points down /
December standing at 24.3Sc. The tone held
steady at the decline because many tele- j
grams from the interior said that spots were ]
not following the decline in contracts.
New buying of consequence was felt IN !
the afternoon and at 1870 O'Clock prices
we're IS TO 20 points under the last quota
tions of Saturday. December being at 24'o6. |
NEW ORLEANS COTTON !
The following were the ruling prices IN !
the exchange today:
Tone, steady; middling, 24.13c; steady. |
Last Prev.
Omen. High Low. Sale. Close. Close |
Ian. % 40 "A. 70 "a. 40 "a. s. "a. 63 "a. so |
Mar. a % "a. IS "a. 20 "a. 90 "a "a "a. IS |
Nav "a .O5 "A. So "a. Oh "a SO "a. 33 "a. As |
Julv 23 80 "a. OF %. 10 "a. 90 q. 90 24.O5 |
Dec 81 .65 "a. 10 "a. So q. 60 "a. GO 24.75 !
ATLANTA SPOT COTTON
Atlanta spot cotton .,N...........2o .6Oc :
Stocks .............64,S 3S |
SPOT COTTON MARKET