Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1922-11-18
COTTON

NEW YORK. Nov. 17.-Yesterday's big
break was followed by nervous and ir-
regular fluetua lions in, the cotton market
here at the opening today. Liverpool was
about as due, but the local market OPEN
ed steady at an advance of three to 20
points on covering and trade buying.
There was a continuation of the commits
sion house liquidation which he been so
active late yesterday and further local
selling, as a result of which January
quickly sold off from 1851 to 2515, or
within two points Of yesterdays closing E
rebuying and a little more trade demand
at this decline, and the market steadied
up some eight or nine points during the
early trading.
After selling off to 2514 for January, the
market rallied to 25.40 for that position
on covering and rebuying promoted by re-
ports of big exports for the day and the
smaller volume of liquidation. The advance,
however, brought in a renewal of commits
sion selling and local pressure which was
promoted by reports of a slack spot demand
in the south. Prices eased off again i'll
consequence with January selling off to
1928 early in the noon hour. There were
private cables reporting that British spin
ners were considering a proposal to work
only three davs week. which probably
helped to unsettle the forenoon market.
The. market became very weak and I'M
renewal of heavy liquidation. and stop
orders were uncovered on the break be
that position. or about so points net low
er, the decline was checked by trade buy
ing, and the market rallied as rapidly as
it had declined, with January selling at
25.37 around ? o'clock, or % points net
higher.
NEW YORK COTTON
The following were the ruling prices in
the exchange today
Tone, steady; middling, 25.soc. quiet;
Open. High Low. Sale Close Close.
Jan. ...25. 50 $40 24.95 1851 5,67 Sis
Mch. ...25 So %. ca "a 90 $50 % 60 %. Is
May ...25. OS 25.47 81. so 25.44 % A 81. %
July PA. So %. 15 "a. 20 25.1+ 5.13 24.S0
Dec. $50 25.7O %. .6s % .6s 25.82
NEW ORLEANS COTTON
NEW ORLEANS. Nov. lin the face
of poor cables, the cotton market was
very strong on the opening today e scas
from the interior. Prices were lifted 81
to p points by this demand before 18th the
enough to check the advance The market
finally softened under the offerings and
by the end of the first half-hour of trad;
points over the close of yesterday. De-
cember rose to 2487 and fell back to
"a. SO cents a pound.
On a demand which appeared to come to
great extent, from trade interests the mar
ket strengthened again and rose to net
gains of PA to SO points but when December
touched 24.S9, offerings increased. For a
while, late in the morning, the decline was
extremely rapid and it carried December
off to 24.37, where the list showed net
losses of 10 to IS points. Around the mid
die Of the day the downward movement was
checked by the large mill takings, 421.0O0
bales against 800, 600 this week last year.
An extremely strong market developed
in the afternoon and there was general
buying on the large mill takings, the large
export movement and the higher market for
EyDOrTS
were S3,542 bales, bringing the total of
clearances this week up to 230,9S5 bales
against 176326 this week last year. In
the trading up to 100 O'Clock prices We're
lifted to 2j.14 for December and TO net
gains on the list of 40 to 81 points.
NEW ORLEANS COTTON
The following were the ruling prices 10
the exchange TODAY:
Tone, nearly steady; middling, S25.50c,
steady.