Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1922-05-27
COTTON

NEW YORK, May 26.-The feature in the
cotton market this morning was the urgent
buying Of July contracts, presumably TO
cover shorts. The opening was quiet at a
decline of to points, but the demand for
Jzly almost Immediately developed, sending
the price up to 20.65c before the end of the
first hour, or 80 points net higher. me
strength of the near month started covering
in later deliveries, which was promoted DJ
prospects for unsettled weather IN the
southwest the weekend, ana octobef
contracts sold up to 2036c. while December
touched 20 25c, making net advances oil
about 20 to so points on the general nst.
New Orleans was good buyer of new cron
positions and there was scattered locai
and Wall street demand, although Liverpool
was somewhat disappointing, with Manches-
ter advices less favorable. -
Trading was a little quieter in the aft
ernoon, but the market held generatN
steady at 20.72c for July and 20.33c for
October, or about 90 to 81 points net higher
Two private condition reports published
early made the condition 1913 and later TWO
more reports appeared, both OF wmch Placeu
the condition of the crop at 81, ana one
of which pointed to an indicated yleld OF
1O,470,0 900 bales. One of these later re-
ports estimated the increase IN acreage
8 per cent There probably was some buy
ing on the lower later forenoon reports,
while there was continued covering pv July
shorts and a scattering COMMISSION mouse
wea Their becoming unsettled in the soutn-
west July sold up to 20.75, or 40 points
net higher, while October held around 2O.56,
or about IS points net higher
NEW YORK COTTON
The following were the ruling prices In
the exchange today:
Tone, strong; middling, 21.50c; quiet:
Open High Low. Sale Close. Close.
Jan. :. 1917 20.17 19.77 20.15 20.15 1881
Mar. {. 10. 80 20 .OS 10. 50 1890 1895 9.63
July :. 90 % 20 81 20. &c 20. "a .S3 0.35
Oct. :. 20. 90 &C. 40 &c. 90 2O.47 90 A 2o.0S
Dec. :. 50 20 90 9.s9 20 90 19. 95
NEW ORLEANS COTTON
NEW ORLEANS, May 26.-Poor cables
and reports of dry weather in the western
belt put the price of cotton lower by TO
points around the opening today, but new
buying met the decline and quick rally
followed. This buying was based mainly on n
condition estimates ranging from 81 to 69:5
per cent of normal. generally conceded TO
be highly unfavorable percentages: AT the
end of the first hour Of the session prices
were 20 to % points higher than 1 6ne close Ss,
of yesterday. After falnng TO 1S.ooc' 'uiF
A private bureau report on condition of
65 per cent sent the market to new hlgh
levels for the upward movement that mas
been under way of late. In the trading
up to IL O'Clock July rose to 2O.2s, where
the list showed net gains of "a to SO points.
For While the advance was CheShcu
the mill takings for the week, 192,oOo
bales, against 1000 this week last year,
but reports of sales of spots here at ad-
vance Of at least quarter OF cent sent
July to the new high level of 2O.3O cents
pound. Other months did not make new
high levels and at 1880 O'Clock prices
were 5 to Is points off from the hlGhest'
with July at oops.
NEW ORLEANS COTTON
The following were the ruling pixies II
tfe exchange today:
Tone steady; middling, 2O.2oc; steady
Open. High. Low. Sale Close. Close.
Jan. 10 Is 19. Sc 9.1s 10. 81 10. 81 10. %
Mar. 10. IA Is. 81 10. 10 "a 10 "a 1919
July :. 9S7 90. so 1886 20. 45 90. 43 1898
Oct. :. 19. so 20. O3 10. so 1904 10 "a 1885
Dec. =. 1887 9.s5 1886 1919 1878 1914
NEW ORLEANS SPOT COTTON
NEW ORLEANS, May 26.-Spot cotton,
steady, % higher; sales on the spot, l.
43O bales: to arrive, 49S. Low middling,
1O.67; middling, 20.25; good mddling, 21'25;
receipts, 2,642; stock, 21O,T 06.
SPOT COTTON MARKET
Atlanta, steady, 20.5Oc.
New Orleans, steady, 2O25c.
New York, quiet, 21.75c.
Philadelphia, steady. 21.75c.
Norfolk, steady, 2O25c.
Savannah, steady, 20.25c.
St. Louis, steady, 19.5Oc.
Little Rock, steady, 1880.
Houston, steady, 20.50c.
Dallas, steady, zoe.
Wilmington, nominal.
Galveston, steady, 2015c.
Montgomery, steady, 1850.
Mobile, steady, 19c.
Memphis, steady, zoe.
Augusta, steady, 2O.15c.
ATLANTA SPOT COTTON
Atlanta spot cotton .&u.ouc