Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1923-03-17
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COTTON

NEW YORK, March 16.-The
cotton market opened steady at an
advance of 8 to 6 points in response
to relatively firm cables and a tar
demand for May contracts around
the 31-cent level. The bulge met
renewed realizing or hqulda'loH'
however, and selling for a reaction
was promoted by prospects 1or
clearing weather in the south. AS d
result the market soon eased or
with Nav selling down to S0.S7, Nnu
October to 26.6S during the early
trading or about to IS points net
lower. A private report issued to-
dav pointed to an increase of 1O.l
per cent in acreage which, on the
basis of last years yield per acre.
was said to indicate a crop OF
around 100000 bales. According
to this report about per cent of,
the old crop is held in the interior
with many of the holders asking
311-2 cents per pound for round
lots.
The early setback was followed
by rallies promoted by mere favor
able trade advices from Manchester
and prospects for renewal of uh
settled weather in the south early
next week. Offerings were COM
parat!ve!y light suggesting that the
scattering long interest had been
we'll liquidated for over the week
end, but after selling about II to II
points net higher, the market eased
again on threats of labor troubles
in Fall River. Trade interests
brought on reactions of 9 to 10
points however and the market was
quiet but firm early in the noon
hour with May selling around 31.19
and October $3.50 or II to 10 points
net higher.
The midday bulge met returned realizing
and the market easier during the mid
die of the afternoon although weekend fig
ures made rather better showing than
expected, with spinners taking of 2OS,33o
bales against 26S.077 last year.
May contracts eased off to 81. I0j and Oc-
tober to 26.74 with tile market ruling about
net unchanged to points higher around
o'clock.
NEW YORK COTTON
The following were the ruling prices In the
exchange today:
Tone, steady; middling, 31.05c; quiet.
Last Prev.
Open. High. Low. Sale. Close. Close.
JAM ..25. 9S &c. OF % 81 %. 81 % 2j.92
Mch. 80 81 so. SO ~ so. 81 80. 81 80. s.
May 81 .O5 81. 10 80. 80 81 90 81. 02 5000
July 80. "a 8O.47 so - 80. 81 1927 5000
Oct. ..26.77 &c. 90 &c. CT 26.74 26.74 26.74
Dec. % 26.31 2G. II &c. Is 26.13 2G.1S
= NEW ORLEANS, March 16,-Un-
favorable weather conditions over
practically the entire belt put the
price of cotton II to II points
higher during the course of the
opening call today, but heavy Of
ferings met the advance and al
quick reaction resulted. At the end
of the first half hour of business
prices were five to seven points
under the close of yesterday. May
rose TO 3O.6S cents a pound and
fell back to $3.50; October rose tn
$3.50 and fell back to 1921.
The forecast of continued cold
weather in the belt, with cen cold
er weather in some sections, arous-
ed the fear that killing temperatures
might extend to the most southern
portions of the belt where consider
able Gotten has been planted an
plants are supposed to be up in some
Localities. The market rallied again
and late in the morning stood at
net advances of Il to IS points with
M2V up 10 oU.f0 ana OcIODeF up W
$3.50.
The afternoon brought a great deal of
selling for both accounts, much of which
appeared to be induced by the failure of
the market to move strongly on the week
ly statistics which generally held to
be highly bullish. Mill takings were 202,-
600 bales against 100, 600 this week last
year. In the trading up to 80 o'clock
the market went to a net decline of five
to Is points, May falling TO its previous
low of 1850, and October sagging to 1926.
NEW ORLEANS COTTON
The following. were the ruling prices in
the exchange today:
Tone, steady; middling, 81 CSC; steady.
Last Pres.
Open. High. Low Sale Close Close,