Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1923-06-19
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COTTON

NEW YORK, June 1S.-There was
renewed liquidation of July contracts
in the cotton market at the opening
today This had an unsettllng effect
which combined with reports OF very
favorable weather in the south over
Sunday, relatively easy Liverpool
cables, and prospects for continued
Manchester mill curtaiiment during
July and August, led to good deal
of selling. Initial offerings were
pretty we'll absorbed at the opening
decline of 80 to As points but the
market soon weakened with July
selling off to 21.12 or rs points net
lower. Later months sold As to SO
points below Saturdays closing with
October declining to 24.51. Some
OF the private crop reports reflected
the recent better weather conditions
and said the plant was making good
progress.
The break extended to 200 for
July or IS points net lower. There
was considerable buying of later
deliveries by sellers of the near
month, but October sold off to
24.34 and December 2S.SS or 81 to
67 points net lower. The more
favorable character of private crop
advices following the last few days
OF better weather in the south. evil
IDENTIFY promoted the selling move
ment, but there was considerable
covering on the decline and prices
steadied up several points from the
lowest around midday.
The market broke again during
the early afternoon when sentiment
seemed to be unsettled by reports
OF Weakness in the stock market and
fo1 elen exchanges. Wall street was
heavy seller on the break which
carried July off to 26.S5 or g fun
cent lower. October fell to 24.1S or So
1oints net lower. The market was
within five or ten points of the 4oW-
est around 2 o'clock.
NEW YORK COTTON
The following were the ruling prices IL
lhe exchange today:
Tone, steady; middling, Csc, quiet.
Open High. Low. Sale. Close Clos"
Jan. =. % So ST % 80 % "a %. 30 2+.@O
Mar. % So % 90 -. IS % 20 23.2s 81. 20
MAY 2s.7 1915 % % %. IS ..... 24.09
July :. 40 $3.50 26.67 $50 26.67 o.
Oct. "a. 65 a. SIS 24.Oo "a 400 25.0
Dec. >. 24.o5 24.12 1851 1851 1851 "a. 40
NEW ORLEANS COTTON
NEW ORLEANS, June 1S.-Hot
and dry weather in most sections OF
the belt and rumOrs from Manches-
ter, received by brokers. here, that
Lancashire mills working on Ameri-
can cotton were talking of closing
down during July, caused decided
down swing in the price of cotton
today, the active months losing Al
to IA points in the first hour OF the
session. July was the weakest
month and apparently felt rnuch
liquidation by longs, under which 1t
dropped to 27.03 cents a pound. Oc-
tobor fell off to 23.77.
Small recoveres followed the first
decline, but they did not last. The
market gradually worked lower I'M
der the forecast of continued dry
weather for the belt and under
reports of weakness in other mar
kets. Soon after II o'clock the
trading months showed declines OF
So to Sc points with July off to
1851 and October to 1888.
NEW ORLEANS COTTON
The following were the ruling prices
IN the exchange today:
Tone, steady; niddling, 2S.25c, steady.
Last Prev
Open. High. low. Sale. Close. Close
Jan. %. 50 %. 45 %. Oh % .O4 90. 90 %. so
Mar %. so %. So %. 90 %. 90 22.ss 1919
Nav go. 30. 81 90. 40
July >. 81. so 81 so %. - 26.72 26.72 27.77
Oct. :. o4.O5 81. OF %. 40 %. As %. Al 81. 40
Dec. >, es. 80 %. IS % 10 %. 10 %. 10 90. &c
ATLANTA SPOT COTTON
Atlanta spot cotton . ... 81 o0c
Receipts 49,. ........... :
Shinnents 49,. 49,. ... None
stock. %, ia
SPOT COTTON MARKET
Atlanta steady, 27.20c.
New York, steady, Csc.
Now Orleans steady 2S &c