Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1922-12-07
COTTON

NEW YORK, Dec. 6.-There was a
newal Of liquidation at the opening of the
cotton market today. but it was less active
after the big break of late yesterday and
prices were steadied by covering. Liver
pool was a shade better than due. if any
thing, while the firmer ruling of foreign
exchange was regarded as indicating a more
oNtimistic view of European politics. TIM
may have led to some scattered covering
on the opening advance OF 3 to 10 points
here and January sold up to 24.54 after
the call, or about IL to 20 points net high
err on the active months This bulge was
not fully maintained, but the market showed
fairly steady tone during the early trad
ing.
eraI as prices eased off from the early
advance. Stop orders were uncovered and
all months broke into new low ground for
the movement with December relatively weak
on& reports that cotton was coming here
from New Orleans for delivery. That
month sold 80 points net lower, while jan
nary broke to PALS, or 20 points below
Yesterdays closing before there was any
check in the decline. Some trade buying
was reported on scale down, however.
and as prices approached the "a cent level
there was a good deal of covering. This
caused rallies of 10 20 points from the
lowest but the market was still more
less unsettled around midday. There were
no reports of easier spot offerings but early
advlces indicated 1urther IalllnS OIL IN
demand.
There was much less liquidation during
the early afternoon and the market was
decidedly firm around o'clock on con
tinued covering and fresh buying which
seemed to be promoted by the firmer
technical position of futures, reports that
the trade had been a buyer on the early
decline and bullish spot adyices. January
sold up to 2459 or forty points from the
early low and twenty-four points net higher.
NEW YORK COTTON
The following were the ruling prices in the
exchange today;
Tone, steady; midding, PATIO, quiet.
Last Prev.
Open. High. Low. Sale. Close. Close.
Jan. ~ 40 -. 80 "a 10 ~. Sc "a. Sc "A. 50
Men. PA 80 24.75 "a. 20 "a. 60 "a. 6s "a. Al
May ..24.42 24.72 24.23 4.6S "a. 81 "a. 40
July PA 20 As % SO % 50 4.S7 "a. IL
Oct. ..22 80 % 90 % 81 ~. 80 81 80 %. %
Dec. PA. 40 "a 81 "a .05 "a. 81 "a. SO "a 81
NEW ORLEANS COTTON
NEW ORLEANS, Dec. G.-lmprovemenL
in the technical position was generally
given as the reason for an upward move
ment Of 1t to 20 points in the price of
cotton in the early trading today. Recent
heavy and general selling was said by
brokers to have greatly reduced the long
interest and at the same time to have
increased the short interest. January was
: advanced to 24.2O in the first half-hour
of trading.
Following the first upward swing very
heavy liquidation appeared on the long side
and for a yhile it completely dominated
the course of the market, forcing January
down to 23.77 and the list to losses under
yesterdays close Of II to 23 points. At
these levels new demand of consequence
arose, stimulated by reports of Il better
feeling in interior spot markets, by
the continued strength of sterling exchange
and messages from Washington stating that
government financial reports were more IA
were back to net advances again. this time
10 gains over yesterdays close of is to %
points.
The advancing tendency was held over
into the afternoon. In the trading up to
L30 O'Clock the active positions were put
twenty-five to thirty-four points over the
final prices of yesterday, January being
sent to 24.25.
NEW ORLEANS COTTON
The following were the ruling prices in the
exchange today:
Tone, steady; middling, 4.5Oc; steady
Open High. Low. Sale. Close. Close.
Jan. IA 90 n % .5. a 81. 16 "a. Is "a 90
Nell. "a OF "a 50 % 81 "a IS "a % 81 .02
May % 80 81 "a 1918 24.19 2416 % 80
July ..23.7 6 "a 03 % 80 q. 90 %. 96 % SO
Oct. ~. 40 .63 22.2O -. so %. 56 %. 80
Dec. ..24.13 4.22 %. 10 24.1S rs "a .O4
NEW ORLEANS SPOT COTTON
NEW ORLEANS, Dec. G.-Spot cotton
STEADY and unchanged. Sales on the spot
lsS bales; to arrive, ,433. Low middling,
%. Zoe; middling, "a. zoe: good middling 2jc;
receipts, 1874; stock. PSI, 552.
SPOT COTTON MARKET