Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1923-02-15
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COTTON


ing decline of five to ten points
in the cotton market today was in
response to lower Liverpool cables
and overnight selling orders, which
appeared to come from the south,
New Orleans and Wall street
sources. There was a good deal of
buying on the bullish report of CEN
sus bureau on domestic consumption
for the month of January, however,
and prices ~firmed up right after
the call with May advancing from
2S.13 to 1888, and with the general
list soon showing net gains of five
to eleven points. The census report,
showing domestic consumption OF
610,S75 bales for the month of Feb
ruary, was above the recent forecast
and came within 5000 bales of the
previous high record of 615 Az bales
consumed during May, 1917
There was sufficient reallzlng on
scattered southern and local selling
to check the advance at 1888 for
May, and prices eased off from the
best during the middle of the morn
ing. May sold back to 2S.25, or a
point below Yesterdays closing quo
tations, and there was bearish COM
ment on reports that some OF the
General Textile mills We're being
forced to close owing to lack of fuel.
On the whole, however, the market
was regarded as showing steady
undertotne and there were scattered
buying on the dips promoted by bull
ish advices from the southern spot
markets.
Less favorable reports concerning condi-
lions in the Near Sast checked early afs~~-
noon advances and sent the price of May
back from aS.S4e to 2S.o5c. but the market
again steaded at that level on covering or
trade buying. Prices ruled about to
points higher around 2 O'Clock, with May
selling at 2S.32c in a very quiet market.
NEW YORK COTTON
The following were the ruling prices in the
Rxehange today:
Tone. steady; middling., IS o5e; q9 e.1.
Open. High. Low. Sale. Close. Close:
Jan. S..... 80. 49,. 2f.73 "A. 20
Mch. ..27 81 %. 05 81 .S4 1893 81 .92 81 96
May PSI %. A %. Is IS. % %. % %. &c
July ..2T 80 % ST 27.63 81. 20 27.70 "a
Oct. ..25. 20 %. Al % IA %. % %. % %.
Dec. ..25.O1 q. 10 81. IS % 90 "a. 96 24.97
NEW ORLEANS COTTON
NEW ORLEANS, Feb. 14.-After
declines of 2 to points in sympa-
thy with a poor Liverpool around
the opening today, the cotton mar
ket strengthened on figures from
the census bureau showing very
large consumption during January
by American mills, 610,375 bales not
were. considered record breaking for
the month of January, and they
caused buying on which the trading
months went II to 20 points higher
than last weeks close. March, after
falling off to 2S.16 cents a pound
rose to 1887.
Interior kilograms to brokers here,
stating that next to no spot cotton
was coming on the market and ru-
mors that large firms which recently
have been heav ysellers were quietly
picking up contracts gave the mar
ket very strong undertone. To-
ward noon the advances were widen
ed to Is to 81 points with March
at 23.38. May was stronger than
March, and traded up to 1926.
Rumors that French ship had been
sunk by the Turks were received by brok
erage offices here and the market fell un-
der them until March was at 2S.13c with
the list at net losses of 2 to points. The
denial of these rumors, both by Washing
ton and by the French government. caused
renewed steadiness and at 80 O'Clock
March was back up to 2S.31c.
NEW ORLEANS COTTON
The following were the ruling prices in
the exchange today:
Tone, steady; middling. 2S.50c; steady
Last Prev.
Open. High. Low. Sale. Close. Close,
Jan 49,. Il DO Il 30
Mch. .2s IS IS. 80 IS. 10 IS. Is %. 16 % 20
May ..27 80 % 20 ~ .93 2s.O1 rs. OF 81 80
July .27. Al 81. 70 81. 4S 81. sc 81. % 81 80
Oct. ..24.79 % 90 24.74 "a rs "a. 10 "a. 10
Dec. PA. 6j "a. 65 "a. so "a. go "a. IS "a. 5S
LIVERPOOL COTTON
Tone, steady; sales. 5000; good midding,