Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1923-08-04
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COTTON

mutation of overnight buying orders
carried the active cotton contracts
Is to 20 points higher at the open
ing today and there appeared to
lie good deal of bullish sentiment
throughout the market Is u result
OF yesterdays sensational govern
meut report. Although English mar
llets were inclined to discredit the
report, they nevertheless showed
good deal of strength at the time
of the local opening because of re-
ported hit winds in Texas and
lack of rain in that section. On the
opening, October sold as high as
$3.50, but there were latec transac-
items at 22.45, the reaction being
Que to predictions for showers and
cooler weather in Texas. New buy
ing developed on the decline, how
ever, and at the end of the first
half hour, October was selling
around 22.5S, or about Il points net
higher.
Before midday, the buying had
become quite general and prices
moved UP to the bass of 22.S5 for
October, with active positions from
~ to Al points net higher. Buying
was based upon numerous bullish
crop accounts from both Texas and
the eastern belt. Some reports said
the Texas crop was going backward
rapidly, necessitating a downward
revision of crop estimates, while the
complaints from the eastern belt
Were chiefly of excessive rains and
boil weevil.
The advance was checked in mid
afternoon by heavy realizing and the
fact that the short interest had been
very much reduced as Il result of
the tvo-cent advance which followed
the government report. October re-
acted to around 22.40 at o'clock or
IS points down from the top and
about even with Yesterdays close.
The selling was inspired by poor
demand and prospects for south
wesern showers.
NEW YORK CoTToF
The following were the ruling prtccs ID
the exchange today:
Tone. steady; middling, IS. SOC.
Open. High. Low. Sale. Close. Close
Jan. 20. so %. 81 81 .93 %. 90 so % Is
March 20 80 % 6s 90. OF %. Os %. 05 % Is
May %. 80 % go 81. 81 %. OF %. 90 % 10
Aug. -. $50. 49,. ..... %. rs - so
Oct. % 50 90. Sc % II %. p 90. % 40
Dec. 30. A % so %. II 22.12 2.l2 % So
NEW ORLEANS COT4 ON
NEW ORLEANS, Aug. 2.-Con-
inued dry weather IN the western
elt caused heavy buying of cotton
today, which more than Offset Of
ferings from traders on the long
side. who wanted to realize profits.
IN the first hour Of the session
prices advanced 10 to IS points, to
22.25 cents a pound for October.
Many complaints of deterioration
were received by brokerage houses
from a large number of points i'll
Texas and Oklahoma.
Complaints Of crop deterioration
increased and prices strengthened
until they were at 22.3Sc for October,
with the list SO to A points up.
Realizing by longs and a large
volume of hedge selling met the i'm
provement. with the result that at
IL o'clock October was off to 22.02c.
Hedge sleling gradually increased
and finally reached such proportions
that the market was unable to alb
sorb the contracts. During the final
hour of the session the market be-
came very weak and broke in a
rather violent way, especially after
the stock market weakened and re-
ports were heard Of unfavorable Eu-
ropean political developments.
Toward 1880 o'clock prices were %
to 30 points under the close Of yes.
terday with October off to 21.65.
NEW ORLEANS COTTON
The following were the ruling prices IL
the exchange today:
Tone, steady; middling, 22.75c; steady.
Open High. Low. Sale. Close. Jlos+
Jan. %. O9 %. so 81 GA 81 "a 81 GA 81 81
March 20 II 20. 81 81. IS 81 .6s 81 6S 81 80
May q OF %. 16 81. 81 81. 10 81. "a 81. 80
Oct. %. Is %. SO 81 So 81. 65 81 CT 81 SO
Dec. %. Is 81 s 81 IS 81. 81 81 &C 81 .0S
SPOT COTTON MARKET
Atlanta, steady, 23c.
New York, steady, 23.50c.
New Orleans, steady, 22.Tjc.
Galveston, steady, 23c.
Mobile, steady, %. Acc.
Savannah. steady, 22.30c.
Wilmington, steady, 22c.
Norfolk, steady, q. soc.
Houston, steady, 22.S0c.
Montgomery, steady, 22.00c.
Augusta, steady, % Csc.
Memphis, steady, 22.65c.
Dallas, steady, 2255c.
Little Rock STEADY. 23.50c.
ATLANTA SPOT COTTON
NianA spot COTTON -''.'.'...''.... &c
.secelpts .''.'''.'. ..''''''''''..... None
'n'pmehts ...'''.''''.''.'.-.,. ~
stocks ..........--.......... 1859
ATLANTA CoTroNsEED PROJECTS
MARKET
Corrected 5y Atlanta Commercial f21:hange)
Ed. asked.
cottonseed cake. par cent,
car lots ...... ......
c. S. neal, ser csn. arr
:, MONA. car lois :...:...; 30 $500
c. huiis. l6UeS, car icts... 10 co ~. 90
G. y. halls. SACKED, car lets... g 90 y I'll
ilinters, fi-st "ut, aG9e.
Linters. seeoII cut tco.tonsenI La!l FIBER
rr shsy:Dga), 3G7c.
.Jn.erY. clean. mill ran 595Hc.
coTTox:EED OLE KAEEEr
Open. Ciars.
January ........ G.i5aS.3@ 5.S;fS 5. %
February E. go. h.a00S.Ge S.32%c s. *
AIsrch :. 1900. S.3518.T0 S. 200 $50
August go. 3.90@ 1C.1U %.2pT 9.3l
September :. 8.6;G6o.12 e.5fGo. IS
October -. -. G.0e69.1o s.&SG $50
November :. :. $3.50 $50 SAG s.4i
December :. =. s.440s.45 S.a01 s. 50
Tone, weak; sslss. 1890.
FENNER & BEANIE sToox LITTER
NEW YORK, Aug. File stock market
opened firD=r vita far account o: sc-
tiyitS ana nsoTs chesr;ni -sel;nE IN evil
deuce. PIiess Contained Atrcny until the
noon hour WheE. Coaz:do. BILE ir:egn.zrity
was btouK:!t sS7ut gnG ;crtsin isares SUP
lccted % ytszsrte. lie stocks attacked