Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1924-02-14
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COTTON

NEW YORK. Feb. 1S.-Reports
that Lancashire spinners OF AnerI'
can, cotton were again talking short
time and continued complaints OF
poor demand for cotton goods in
the domestic markets seemed TO be
the dominati ting factors at the open
ing of the cotton market here to-
day. First prices were unchanged
to Is points lower and active old
crop months soon showed net losses
of 80 to So points, with May declln-
ing to $3.50 and July to Sl.52. New
crop positions were under less pre-
sure, but October sold ID points net
lower on the weekly report of,the
weather bureau indicating better
progress with farm work last week.
The Liverpool cables were Just about
as due.
Private cables said it was doubtful
Whether q sufficient majority could
be obtained to carry the proposal
for organized short time IN Ian
cashire, but the market here con-
tinued nervous and unsettled. There
were rallies of Il few points. but TO-
ward midday active old crop months
sold SO to 4S points net lower, while
II to IS points May sold off to
S2.S5 and July to 31.45. Apprehen-
sion that continued poor demand
for cotton goods would canse IN
creased domestic mill curta9lment
had an Influence. -
There were rallies of about so
points from the lowest during the
early afternoon on covering in ant1ci-
nation of large figures on domestic
mill consumption from the census
bureau tomorrow, but after selling
I'D to 3S.1ec for May or within
points of Mondays closing prices,
eased off several points under re-
= newed liquidation. Active months
were about / OTTO 20 points net lower
around 2 o'clock.
NEW YORK COTTON
The following were the ruling prices In
the exchange today
Tone, steady; mddlng, 53.a0c, quiet.
Last Prev
Open High, Low. Sale. Close. Close
4 Mch, So 90 IS % 81. GA 81. 81 81 81 53.oe
MAY :. SO Is SO 20 81 SO .0i 81 90 30 "A
July 81 40 81 .S6 81 .45 81 sc 81 SO 81 IS
Oct. % So 81 50 27.71 FIG ~. &c 81. 30
Cotton futures, Has a. m bids. ste 1dy;
March, 81 30; May, 81. So: July 81 .oo' DC
tober, IS 60; December, 21.2S.
NEW ORLEANS COTTO-
NEW ORLEANS, Feb. 13.-Prices
lost % to "A points in the first hal
hour of the session today In cotton
March dropping to 1916 and Octo'
Der to 27.10 cents pound. Inc new
crop was stronger than the Old be
cause of it's discount. Much OF the
!. selling was done on favorable wealth
fai ia unr9 hi y
selling weekly reports from the gov
eminent concerning conditions in
the cotton region. Selling increased
on the receipt of private cabIegram
from Liverpool to the effect that
trade was worse and that extensive
short time among the mills was ex-
pected.
Private reports received here indi-
Gated some reselling of spot cotton
by domestic mills was underway. At
lanta wired that one Georgia mill
+ had resold $500 bales. This in
creased offerings of old crops and
put the list twenty-five to fifty points
down In the trading up to noon
March sold as low as 32.74, but Oc-
tober dill not make new low.
Heavy covering by shorts featured
the afternoon session. These buyers
apparently feared bullish consump-
ton figures from the census bureau
tomorrow on the opening. Toward
1870 o'clock prices were 5 to 80
points up from the lowest, March
standing at 3S.04.
NEW ORLEANS COTTON
The following were the ruling prices 10
the exchange today:
Tone, steady; middling, Size, steady.
Last Prev.
Open. High. Low. Sale. Close Close
Mich. s.; 90 So 10 80. "A 81 90 80 90 SO IL
May 81 80 81 65 52. % 80. A. 81 A. 81 So
July :. 81 50 81 GS 81 "a 81 81 81. 80 81 20
Oct. ...aI.2s ~ 80 - 10 y. Is ~ is q 70
Cotton noon bids, steady; March, 81 50;
Z May, - 81: July, 81 So; October, ZIP;
4 December, a6.T2
ATLANTA SPOT COTTON
Atlanta spot cotton ................ 90. l3c
shipments ....-...-.-. -.''''.. i,So>
stocks ....-........ .oo'A-'