Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1922-06-29
COTTON

NEW YORK, July 2s.--The cotton mar
ket opened steady at an advance of 10 to
10 points on relatively firm Liverpool ca
bles and reports of unsettled or showery
weather conditions in the south. The adj
vance met scattered realizing and other
selling in expectation of favorable weekly
report from the weather bureau, however,
and after selling at 21.45 on the call, Octo-
Der contracts soon eased off to 21.3O, or
within 5 points of yesterdays closing quo
tation. The showery weather in the south
was not generally considered unfavorable
to plant growth, but was regarded by local
bulls as likely to promote boil weeyil actiV-
tiles Private cables attributed the rela-
tiyely firm tone of Liverpool to small Of
ferings and a moderate trade demand.
There were rallies later in the first hour
on Liverpool buying, but the weekly re-
mort of the weather bureau proved even
Sore favorable than expected, indicating
that the crop had made fair to good progress
in all sections and excellent progress IN
some sections during the week. This was
followed by rather aggressive local selling
which sent the price of October contracts
off to 21.15, or 10 points net lower. AS
soon as this scattering pressure had been
absorbed, trading again became very qulet
with the early afternoon markets showing
rallies Of few points from the lowest on
the continued bullish average of southern
spot advices.
NEW YORK COTTON
The following were the ruling prices IN
the exchange today:
Tone, steady; middling, 22lOc, quiet;
Open. High. Low. Sale. Close. Close.
Jan. ...21.0O 81. 21 20. 80 81. 81 1.19 POS
Mich, 20. 90 81. 90 20. Sc 81 90 ..... 20.76
May ...20.74 20.74 20.60 0.62 49,. 20.6O
Oct. ...21.42 81 .63 lis 81. 81 21.57 81. %
Dec. 90 LAB 2O.94 21.as 21.37 81. Oa
NEW ORLEANS COTTON
NEW ORLEANS, June 2S.-Seatttered
showers over a good part Of the belt and a
better Liverpool market than expected
caused buying of cotton today and in the
first hour of session prices were advanced
10 to 20 points. July traded up to 2l.2U.'
The demand was somewhat restricted by eX-
pectations of favorable weekly government
reports on the crop.
The weekly crop reports were regarded
az being about as favorable as expected,
but only moderate selling followed their
reading, under which the list fell off to
levels points higher to points lower than
the last prices of yesterday, July trading
down to 21.27c. Support met the dechne e
and the market recovered to advances OIL
IL to 20 points, July rising to N.27c to-
ward IL o'clock.
WeeyiI complaints increased, coming prin-
cipally from western and central sections OF
the belt and the demand strengthened The
market also got support from private con-
dition report of 71.6. which, with an esti-
mated increase in the acreage OF 90 per
cent indicated yield of II, 100000 bales.
At 1890 O'Clock prices were 20 to 40 points
net higher, with July at 21.5Oc.
NEW ORLEANS COTTON
The following were the ruling prizes II
Ire exchange today:
Tone, steady; middlng, 21.50c; steady.
Last Prev,
Open. High. Low. Sale. Close. Close
Ian. ..2O.4S 90. IS 20. % 20. 65 20. IS 20. 81
Mich. 20. % 20. SO 20. 10 20. 45 20. As 90. L.
Nav ,... ...., 90. oil
July ...21.36 81. So 21.23 81. 63 q. 81 21.2
Oct. 0.S5 81 20 81 81. 10 81. 13 20. rs
Dec. 30. Sc 90. 90 20. 80 90. 50 20. 50 20. As