Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1924-09-11
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COTTON

COLI ON
NEW YORK. Sept. 10.-Renewal
of southern hedge selling and liqul-
dation promoted by relatively easy
Liverpool cables, expectations of
favorable weekly weather review and
rumors of an easier spot basis, sent
prices still lower in the cotton mar
ket early today. The opening was
steady at an advance of one point
to a decline of seven points. but
the demand was soon supplied
prices breaking to 1886 for October
and 22S5 for December, or II to Il
points net lower before the end of
the first hour. Private cables said
Liverpool was still influenced by the
bureau report and lack of demand.
With selling becoming more &C
tive after the publication of the
weekly report of the weather hu-
reau, the decline extended to 23.l2
for October and 22.63 for December,
or 40 to 43 pOitns net lower. Oftef-
ings tapered off somewhat at these
prices, and the market was qulet@f
later, with prices at midday snow
ing rallies of or 10 points from
the lowest on covering. The south
was said to have been heavy seller
here during the morning, but consul
cradle trade buying was also report
co on a scale down.
Moderate midday rallies met m
creased offerings and the marker
weakened again under continued
southern selling and liquldatlon. DC
tober broke to 22.75 and Decemhef
to 2229. with the general marker
showing net declines of SO to -
points at o'clock.
NEW YORK COTTON
The following were the ruling prices IN
the exchange today
Tone. steady; middling. 23.s0c quiet
Omen. High Low. Sale Close. Close.
Oct. 23. so % % %. IS D. 81 22''o Z"'o@
Dec. 90. 05 % .O5 80 %. 80 80 :" 10
jan .23 90 % 90 % % 22.30 2.3o 2".o"
Mar ..23 % % % %. 60 22.6 y. oil %. 81
Nav % 80 %. so % 80 %. SS %. 81 2a %
Cotton futures, 1O:45 a. m. bids, steady:
October % 20: December 22.72; January,
22.6S: March, 22.95.
NEW ORLEANS COTTON
NEW ORLEANS. Sept 10.-The
cotton market opened about steady
TO five points Liverpool was rather
lower tran due and this influence to-
eether with continued quiet liquida-
ton caused prices to ease Off grad
ually in the early trading. October
declined to 22.60 and December to
22.67 or II to IS points below tn"
closing levels of yesterday. Cotton
goods markets reported better de-
mand for goods.
The market eased off steadily dur
ing the morning under Incubation,
hedge selling and some short selling,
due to lack of speculative and trade
support and the movement of the
crop in heavier volume. October
traded down to 22.15, December to
22.25 and January to 22.30, or 81 to
62 points below the closing levels OF
Yesterday. Arkansas Pass, Texas,
cleared today $3.50 bales for Great
Britain.
The market continued 10 decline
around noon and during the. early
afternoon and both the active trad
Ing months broke below the : hne'
October dropping to Elsie and De
cember to 2197c, or SO to 80 points
below the previous close. January
declined to 2205c, or 80 points net
louvre. There is said to be no domes-
tic mill demand for spots and
Europe is buying only at a CON
stantly lowered basis. Farmers are
new reported to be placing their cot
ton witt the cooperative asssclatlo',o
for holding.
NEW ORLEANS COTTON
The following were the ruling prices II
the exchange today:
Tone. steady; middling, 2l.S stead3'
Last l'rev.
Open. High. Low. Sale Close. Close
Oct ~. "A %. 10 21. Sc 81 sc 2l SO -. ~
Dec % so %. 81 81 81 22. on -. on -. 80
Ian. DC. 81 %. 81 % % %. 10 %. 10 - 81
NJ, % 60 ~ 81 90 "A % 30 90 So % o.