Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1923-02-20
OBSERVATION-DISCLOSURES
COTTON

NEW YORK, Feb. ia further
advance during today's early trading
in the cotton markets, carried the
price of May contracts up to 1891
or IS points net higher and within
s points of the seasons high record
established on January "a, ConSld-
cradle realizing was encountered at
the higher figures. however, and re-
actions followed, with May selling off
to 1918 and closing at 2S.7S. The
general market closed steady, net SIX
points lower to six points higher on
the old crop and IS to II points net
higher on the new crop positions.
The market opened firm at an adj
vance of ten to twenty-one points,
on a continuation of the buying
movement which had been in prog
ress at the close of the previous day.
The demand was, stimulated by bull
ish overnight spot advices from the
south, favorable weekend reviews
of. the cotton goods situation and an
impression that the settlement of the
British war debt would react favor
able upon international trade.
March contracts sold up to ESQ,
and July up to 2S.fS, with old crop
positions showing net advances of
II to Il points. The strength of
the old crops led to active covering
in the new crop months by recent
local or Wall Street sellers. who paid
up to 26.14 for October and e5.S2 for
December. or Sc to 81 points net
higher. These prices brought in
realizing while there was probably
some scattered selling for reactions,
although there was no change in the
general character of the news.
March was relatively easy under
scattering liquidation and sold off to
2S.4O. while July declined to 2S.26,
and October to 25.S7. Later fluctua-
tions were narrow and irregular,
with the close showing slight rallies
from the lowest on May and the later
deliveries.
Some very bullish spot advices
were reported to be reaching the
trade, particularly from the SOUTH
west, where buyers were said to be
finding very little cotton offerings.
There were also bullish reports from
eastern belt markets, one telegram
from North Carolina claiming that
spot firms were refusing to offer cot
ton for forward delivery.
NEW YORK COTTON
The following were the ruling prices In the
exchange today:
Tone, steady; middling, $500, steady.
Open. High. Low. Sale. Close. Close.
Jan. -. .... 80. ..... ..... 25. SO 25. PC
Mch. rs. 50 rs. 60 IS. 45 IS. 40 IS. 10 IS.
May rs. S. IS 81 '2S. ~ 2S.7S IS. II IS. 10
July rs 40 IS. As IS. rs IS. 80 IS 80 IS. %
Oct. ...25 "a &c. II % 81 j.9S 25.91 %. rs
Dec ...25. 60 %. So 5.55 25.7O % 20 rs. As
NEW ORLEANS COTTON
NEW ORLEANS, Feb. 17.-Dur-
ing a good part of the session in
cotton today the tone was very
steady and prices were we'll main
tanned but in the late trading there
was a great deal of evening-up over
the weekend and in this evening-up
straddlers took a prominent part,
their operations making for a most
irregular market on the close which
was to % points higher than the
close of yesterday. New crop months
were much stronger than the old.
March closed at $3.50 and October
at 1852 cents a pound.
Straddlers undid their trades by
selling the old crop months and
buying October, these transactions
having originally been made on the
theory that the old and new crop
months were going farther apart.
On the opening and for short time
after shorts covered rather freely
and the demand was we'll distributed
over the list. March was relatively
stronger than the later positions
and reached the new high record
price for the season of $50 cents
a pound. Other months did not make
new highs. Early buying was en-
couraged by favorable opinion
of weekly reviews of trade in gen
eral in this country at the highest
of the day prices were 20 to SO up.
The continued cold weather over
nearly the whole belt was considered
favorable in connection with the
soil and winter killing of insects
but no selling was done on it ap-
parently because of the contention
that wet weather and low tempera-
lures were interfering with planting
III the earliest portion of Texas.
NEW ORLEANS COTTON
The following were the ruling prices il
the exchange today:
Tone, steady; midding, 2S.63c; steady.
Last Prev.
Open. High Low. Sale. Close. Close.
Jan. ..... Z3sOS ....-
Mch. IS SO IS 20 2S 80 IS so 2S. so %. As
May ...2s. 80 IS. 81 2S.45 IS. IL %. 40 IS. Al
July ...2S. 90 IS. % IS 90 IS. II IS 10 81 .9S
Oct. %. 43 %. IS - .43 %. J3 %. 81 %. 30
Dec. % 40 % .43 - 81 - 40 % 80 % %
NEW ORLEANS SPOT COTTON
NEW ORLEANS, Feb. 17-Spot cotton,
quiet and Unchanged sales on the spot, u;
to arrive. none. Low middling, 27.SSc; mid
ding, 2S.63c; good middling, 49, 3c. Re
cepts, G,j19; stock. 166,776.
ATLANTA SPOT COTTON
Receipts ........ ......... ......... 40
Shipments ...... 500. ............. 6S7
SIOchS 10, { VI
ATLANTA CoTTONsEED PRODUCTS
MARKET