Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1922-05-04
COTTON

NEW YORK, May 3.-Overnight buying
orders caused a further advance of to IA
points in the cotton market at the opening
today. which was encourag ed by reports of
further rains in parts of Texas, Arkansas
and central belt sections. All months made
new high records for the movement with
July selling at 19c and October at 1910,
but these prices brought in heavy general
realizing causing reactions of several points
after the call The trade appeared to be
looking for bullish weekly report from
the weather bureau, hut there was probably
some selling on belief that it had been
discounted and hope of gradually clearing
conditions in the southwest. Liverpool just
about met Yesterdays local advance, with
private cables reporting trade buying ana
covering on bullish crop advices 80
Profit taking continued heavy with july
contracts selling off to IS. &C. and October
to IS 49, or about II to 81 points net lower
on the general list There was some ouE-
ing the expectation of oulllsn WeehIS
report by the weather bureau, however, ana
fluctuations later were extremely nervous
and irregular. 1t is reported that sales OF
fertilizer to the emf of April show an IN,
crease of about 81 per cent as compare rt
with last year. the weekly weather report
was quite as bulliSh expected, nut Iaiieu
to bring in much fresh buying, the marker
being comparatively quiet with July ruLlhs
around 1917, and October 1854 shortly alter
midday. ,,o. ~
good deal of realizing was absorbed on
the forenoon reaction and prices Went up
again during the middle of the afternoon III
covering by early sellers and renewal OF
wall street buying. July rallied from .6O
to IS "a, and October from 1918 TO NV,
making the market about to IL points
higher.
NEW YORK COTTON
The following were the ruling prices Ii
tho exchange today:
Tonc steady; middling, 2Uc; quiet. -
Open. High. Low. Sale Close Closs
Ton 1917 10. 20 IS. CO 1916 1902 1886
Mar 1901 1919 Is. 50 10. IL $50. 1898
Nav >. 10. 10 9.S5 Is. 81 1917 1917 1851
Ju1v =. 10. 90 10. 10 IS. IS 1903 1903 1887
Oct. =. 1910 49,. so 1872 1911 1912 19.Oo
Dec. =. 1910 SO 1915 1915 1919 1871"
NEW ORLEANS COTTON
NEW ORLEANS. May IA broad an 1t
active market ruled in cotton To-Day w.
continued rains in the beit anu -" ~ Tho
General disposition to take profits on the
long side contending influences ana Cousins
wide price swings. An untayOranle view VI
the weather put prices IL to II points hIEn ,,
than yesterdays close soon "a go demand was
satisfied the market was flooded WIN o tler
fngs from realizing longs 1hese oltei LIZ
put the active positions 10 10 u polnIs III ~
. rthan Yesterdays finals, nut When M
weather map was posted, showing much we
weather in the belt, new steadiness was
assumed, and at the end of the 1lrst Hotr
of business prices were within to points
of Yesterdays last quotations. July sold up
to 1850, fell to 1s.2Sc and recovered 10
1910. -, ,o;n cot
IN and it carried the list % to p points
lower than the close of yesterday but stea tso
ness was regained on the reading ol cne
weekly government crop reports, wmch weLt
considered unfavorable on the whole ana at
II O'Clock prices were about 20 points IS up
from the lowest. July traded at 1o'-o "'
In the late trading the market firmed
mn rapidly to new high levels on reports
Of further rain in Texas which, however
some brokers claimed were not well Iou.l-
IA At 1870 o'clock prices were Is 10
% noints up net, with July at 1865.
NEW ORLEANS COTTON
The following were the rarins prices IL
The exchange today: .s
Tone, steady; middling, 1920; steady;