Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1923-09-11
COTTON

market today Openeu dI uSClIHe VI
So points on November, and OF TO
Is points on other months as re-
suit of realizing promoted by the
rather reactionary showing OF Liver
pool. Prices almost Immediately
turned strong, however, on private
crop report from Memphis, placing
the condition at only 49.7 and the
lndiacted yield at 1859. 900 bales, or
more than IL of million below the
end-August figures. Instead the
first half-hour October contracts,
which had sold at $3.50 at the OPEN
ing. advanced to $3.50, or 80 points
net higher. and all months made
new high records for the season on
excited general buying.
Very heavy realizing and increas-
ed southern hedge selling was en-
countered above the %5-cent level for
December and caused reactions of
20 to So points from the best dur
Ing the second hour.
Reports Of better weather in the
south increased the, disposition to
take profits. On the other hand buy
ers were encouraged by the publlca-
ton of reports that passive re-
sistance in the RIhr was to aban-
doned and continuation of trade
buying to fix prii = on the decline.
October reacted from $3.50 to 2S.15
and January from 27.72 to 27.52 and
trading was less active around mid
lay although the market was still
Ieverish and unsettled.
Talk of a rapidly expanding new
crop movement on the favorable
weather conditions and reports of
%I,a 20
% further realizing during the aft
.rnoon. The October contracts sold
,ff to 27.S3 and January 27.26. or
tbout As to CT points from the high
Ievel of the morning and the market
vas quieter at these figures around
}. o'clock or about Is to 26 points
iet higher.
Talk of rapidly expanding new
crop movement under more favor
lble weather conditions and reports
VI an easing basis in the southwest
ed to further realizing during the
afternoon. October contracts sold off
10 PISS and January 1926, or about
Is to 81 points from the high lever
If the morning and the market was
iuieter at these figures around two
,'elock, or about 16 to 26 points net
higher.
NEW YORK COTTON
The following were the ruling ptices II
q exchange TO-DAY:
Tone, barely steady middIing 2s.1Oc;
Iuiet.
Open. High. Low. Sale. Close. Close |
an. .26. IS 27.72 &c. 81 II Is % 20 27 90 |
Earch 20 80 81 81 26. IS u e 7.25 p 90 |
lay .26 90 81. IS 80 27.2S 27.20 27.0o
uly 20. 80 100 26.55 &c. SO 20 .s5 26.70 |
let. .27. 60 %. 80 % 90 1856 27.S5 27.60 |
Zee. 27.35 2s.17 1870 PISS 27.5a 27.40 |
NEW ORLEANS COTTON
NEW ORLEANS, Sept. 10.-After |
eclines of 80 to AZ points on the |
Dening today, a very strong cotton |
.arket developed, and prices were |
Don ~ to IS points higher than the |
lose of last week. October rose al |
aost 100 points from the low, first |
lading down to $3.50 cents a pound, |
nd then up to 27.78. Poor cables /
nd dry weather over the interior OF |
he cotton region caused the selling, |
ihile a private condition report of |
d. per cent of normal, indicating |
crop of 10,250,000 bales, including
nters, was responsible for the buy |
ag movement.
Heavy realizing or prOtltS on long
ontracts and much hedge selling
net the market, causing a fairly
ride reaction. At II O'Clock, Octo- |
er stood at 1926. Prospects of con-
.nued dry weather over most f |
he belt appeared to be. bringing in
lew selling.
,fferings became only scattered and |
Fere steadily absorbed with the re-
ult that the tone became much |
teadier again and at 1880 o'clock |
october was up to 27.45 with the j
rading positions showing net gai2s |
( 80 to 50 points.
NEW ORLEANS COTToN
The following were the ruling prices II
he exchange today:
Tone, barely steady; middling, 27.5Oc; |
teady.
Open. High. Low. Sale. Close. Gloss |
an .26 81 81. 40 &c. 65 81 OF 81 .01 81 .04 |
Tarch 26. 80 AT &c. IS &c 90 &c. 80 81 .O5 !
lay .26. 80 81. SO &c. 46 26 90 &c. SO 20. 95
My 800. ZI.SO ~. 10 |
lct 81 OJ .7s 20. 80 81 % 27.18 27.10 |
lee. 81 90 7.64 ISIS 81 .O5 81 .O2 27 10
epoT CoTTON MARKFT