Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1923-08-11
Tl7].AyhIQgNn & ttRpoTt5
COTTON

w 4 L YIN
NEW YORK, Aug. 9.-Private re-
ports of showers in the southwest
and prospects for lower temperatures
in that section led to renewal of
liquidation in the cotton market to-
day. The fact that the market VIII
F. be closed tomorrow when weather
advices may he of gree importance,
undoubtedly increS.ycd the disposition,
to even up commitments and y
opening was weak at a decline
forty-three to fifty-four points, with
October selling down to 22.S7, and
with all months breaking below the
twentv-three.cent level. Trade in
terests were moderate buyers at this
Decline. which also attracted cOnS.d-
cradle covering, and the market
steadied up several points, from the
lowest during the early trading on
belief that the southwestern show
ers had been too light to be of any
benefit, and that the outlook was
for a renewal of hot weather within
the next day or two.
Covering became more active on a
private report making the mid
month condition of the crop SCI
compared with 701 toward the eno
of last month and indicating a de-
terioration of points in the Texas
crop condition for the period. The
Official weste II belt forecast show
ing prospects for nothing better than
scattered showers in some sections,
helped tn market also and there
were rallies to 23.17 for October and
% IA for December, or about % to
81 points from the lowest. Private
rain or showers reports continued to
come in however, checking the adj
vance and prices were several points
off from the OeSt around midday.
Early afternoon declines on Texas,
shower reDorts carried the market
off to % So for October or about so
points net lower Later advices indi-
Gated the precipitation had been too
light to fully relieve drought condi-
= tions, however, and the midafternoon
market was steady at rallies of 20
to 20 points on covering.
HEW YORK COTTON
Tie follow the ruunE prices "a
Tone, barely steady middlng, 2L25c
quiet
Open. High Low. Sale. Close Close
JAM 90. 10 - % - 81 %. II %. - % Ii
Mch. -. 30 % OIL - .CS -. so -. rs 23 II
May -. So - 50 - 60 -. 10 2.73 % IS
Aug. % 90 % 50 %. 20 %. so % so %. So
Oct. 23.10 23.17 % So %. OF % 90 % 50
Dec. % 80 23.14 % 50 %. 50 %. % % 81
NEW ORLEANS COTTON
NEW ORLEANS, Aug. 9.-Light
and scattered showers in the west
ern belt, together with poor cables,
caused a drop of thirty-nine to forty
two points in the price of cotton
n the early trading today. October
fell TO 22.32 cents a pound. New
buying met the decline. and resulted
in an upturn Of about twenty points
from the lowest at the end of the
first hour of business.
The tendency to recover lasted I'M
til prices were within seven to IA
points of yesterdays close, but re-
ports of further scattered showers
in the west during the day caused
new selling which, toward II o'clock
put October 10 1929 where the list
showed net losses of Il to 43 points.
The later trading brought recov.
cries but no very wide fluctuations.
Realizing on the short side fur.
nished much of the demand. Al
1890 o'clock prices were at net
losses of IS to 80 points with DC
tober at 22.42.
NEW ORLEANS COTTON
The following were the ruling prices il
she exchange today:
Tone, steady; middling, 23.50c; steady.
Open High Low. Sale. Close. Gloss
Jan. %. 30 %. 81 % SO % 43 %. 43 %. 10
Meh. -. 20 %. CO %. IS %. 81 %. so % so
May 90. 81 % IS %. 81 90. 40 %. 40 % .G6
aug. 49,. 49,. 22.90 $50.
Oct. 90. 50 % G2 90 % %. A % 40 80 70
Dec. %. II % 90 10 80 %. 40 % .45 90 &c
SPOT COTTON MARKET
Atlanta, steady. 23.50c.
New York, steady, a. 5c.
New Orleans, steady, 23.5Oc.
Galveston, steady, assoc.
Mobile. steady, 23.75c.
Savannah, steady, %. 6jc.
Wilmington. steady, 22.90c.
Norfolk. steady, 23.25c.
Houston steady, 23.40c.
Montgomery, steady. 23.50c.
Augusta. steady, % Csc.
Memphis. steady. 23.4Jc.
Dallas. steady. 23.1Gc.
Little Rock. steady, 23. 75c.
ATLANTA SPOT COTTON
Atlanta spot cotton ...........,. %. SOC
Receipts observation-disclosures. 20
HA4lHleAIs ''''''''' '''''' ''''''''''' 10
stocks Observation-Disclosures. J.ISG