Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1922-09-09
GRAIN

NEW YORK. Sept. s.-The cotton mar
ket opened steady at decline of . to 5
points in response to rather disappointing
Liverpool cables and expectation of heavy
ginning returns. There considera bic
scattered southern selling and the marke;
worked off to 81 .0Sc for December shortly
after the call or about IL to II points net
lower. but some Of yesterdays sellers were
good buyers this decline and December
soon firmed up some : or points on cover
ing; the outlook for cooler ther in the
southwest was considered favorable. but
otherwise there was no change in the crop
news and there was probably some earh
buying on reports OF more active business
In cotton goods
There was furry of liquidation of scat
tered selling on the census report showing
S1I,171 bales ginned to September l COM
pared with Assist last year. This was
evidently taken to mean that cotton was
rapidly becoming available in the south,
but the most general comment was that
the comparatively heavy ginning reflected
premature opening and after selling off to
20.95 for December 30 points net lower
the market rallied to 21.49 for that deliy-
cry 80 points net higher trade buy
ing and covering.
The advance extended to 21.G5c for De-
cember during the early afternoon, or about
3 Otto As points net higher, but met little
more realizing at tie higher prices and was
9 or 10 points off from the best around
O'Clock.
The advance to 81. 65 for December dur
ing the early afternoon about 80 to As
points net, but met little more realizing
at the higher price and was or 10 points
off from the best around o'clock.
NEW YORK COTTON
The following were the ruling prices in
the exchange today:
Tone. steady; middlng. 2l.7Oc, quiet
Oper. High Low Sale Close. Close
Jan. ...21. OF 81 SO 81 81. SO 81. SO 81. II
Mich. ...21.14 2I.7S o1.O4 81. 6s p. 6S, 81. 81
May ..21.12 81 .73 81. 90 81. 6S 81. GO 21.17
July ..... 49,. q. 40 20.97
Oct. .2O.07 II 40 2O.G0 81. As 81 40 81. 90
Dec. ...21. II 81. Is 2O.95 PIGS 81. 64 81 %
NEW ORLEANS COTTON
NEW ORLEANS, Sept. S.-Poor cables
stimulated considerable liquidation of long
contracts in the early trading in cotton to-
day, but after declines Of % to 81 points
the market rallied reports from many
points in the belt that cotton was all open
and, with continued dry weather, would EG
all picked cut in an unusually short time.
At the end of the first hour of trading
prices were points down to points up,
compared with the close of yesterday. Octo-
Der fell off TO 20.o0c and recovered to
20.41c.
The large ginning to the first Of Septem-
Der, S1I,171 bales, according TO the census
bureau, stimulated selling for awhile, I'M
der which prices fell to net declines of p
to Al points, October dropping to POOP.
Pers ;stent reports of progress with nego-
tiatons to end the rail strike and prospects
of more or less rain in the western belt,
which it was feared would do great injury
to open, cotton, caused new buying wave
and in the trading up to IL o'clock prices
rallied to advances Of 81 to 40 points over
yesterdays finals. October was forced up
ward to 2O.TS.
Mill takings disappointing, Isl 900
bales against 237, 900 this week last year,
and the market eased off moderately, stand
ing at 1890 o'clock at 2065 for October
with the trading months at net gains of 10
to % points.
NEW ORLEANS COTTON
The following were the ruling prices In
the exchange today:
Tone, steady; middling, 20. 75c, quiet