Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1924-07-08
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COTTON
FEW YORK, July 9.-The cotton
market opened steadily at decline
of s to Is points today in response
to the relatively easy showing of
Liverpool over the local holiday
July eased off TO 2S.61 and october
to 1886 in the first few minutes, but
tie market steadied on covering pro-
NOTED by complaint of further rains
in eastern belt sections. July rallied
to 28.75 and October to 1896 and the
market was about net unchanged to
points lower toward the end of the
first hour. Except for the talk of eX-
cessive rains in eastern belt sections,
weather conditions were considered
generally favorable.
The early rally was followed by
renewed weakness, July selling off
to $3.50 and October to 23.74, or about
20 to Is points new lower. Offerings
then tapered off and the market was
q little steadier around midday at
rallies of 10 or Is points OH covering
and trade buying.
Midday rallies were checked by
increased offering of July and the
market was barely steady at
o'clock. July sold back to $3.50 or
% points net lower. New crop po-
~sitions showed net losses of rs to 26
points, October rGling around 23.75
NEW YORK COTTON
The following were the ruling prices in
exchange today:
Tone, steady; middling, 29.GOc, steady.
Last Prev.
Open High. Low. Sale. Close. Close.
July ,..2S. 10 %. 10 2s. so IS. IS 2S. IS %. ~
Oct, ...23. IS "a. Oh LA % 80 % .93 "a 90
Dec. %. 80 %. Al %. IL % 81 % 20 %. So
Jan: ...23 .os % % %. 9s %. 13 % IS 23. IS
Mich. ...23 80 % "a % II % "a % "a 25 SO
May .23 80 % 40 % 80 % 40 %. 46 % II
Cotton futures, 1915 a. NJ. bids steady;
July, aS 80; October, % So; December, %. 10;
January, % 05; March. =.
NEW ORLEANS COTTON
NEW ORLEANS, July 1.-THE cot
ton market opened lower on resump-
ton of business after the triple holt
day. Liverpool came in lower than
due and that together with ~uneasi-
ness over political developments led
to more or less selling. First trades
showed losses of Is points on the &C
tive new crop months and prices
eased off one or two points additional
right after the opening, October trad
22.S3 or 10 to 20 points net lower.
The market promptly rallied II to 13
points on covering because of the
oversold condition of the market.
The market ; fluctuated without
definite trend during the hour be.
fore noon and in the early after
noon Prices eased off about ten
points on moderate selling due to IA
Rorable crop advices from the lnte-
rior but there was fair support on
every dip based on the scarcity of
actual cotton and the expectation
q that the low temperatures would I'M
favorably affect the weekly weather
0nd crop summary due Wednesday.
July made new low at $3.50, or
B5 points below the previous close
October ruled rather steady shade
below the 70 cent line.
Following the early morning rally
which carried new crop months back
10 the levels of the previous close.
the market eased off 25 to 26 points
forcing October down to 22.SS and
December to 22.77. The reaction
WAS due to report by Washington
authority making June consumption
$4,000 bales against $4,000 in May
ind 542.0 900 in June last year.
Towards mid-session the market
rallied again, recovering most of the
loss on favor advices from Liverpool
ind Manchester, good Liverpool buy
ing in American markets and a loss
IN the visible supply of American of
g1,000 bales against loss of only
$4,000 last year.
NEW ORLEANS COTTON
The following were the ruling prioes in
khe exchange today:
Tone, steady middling, Csc quiet.
Last Prer
Open. High Low. Sale. Close. Close
fully IA POSI- 26. 60 20. go 26 60 &c 95
Oct. ...22 .95 % Is 30 So % 06 23 on % -
Pee. ...22 So % 03 22.76 90. "a - 90 30 .o3
Jan. ...22 .S5 % 81 10 80 90 %. 90 % .03
lIch. ...22 .S5 % .0s So % 90 % 90 % .O4
Cotton futures, II a. m. bids, quiet; July,
k6.75; October, 22.0S; December, 22.SS;
January, 22.S5; March. 22.SS.
SPOT COTTON
Atlanta, steady, 27.75c.
i New York, steady, 200 Coo.
New Orleans steady, 2Sc,
Galveston, steady 2S.40c.
Mobile, steady, 27,10c.
Savannah, steady, 27.40c.
Wilmington, steady, 27.S5c.
Norfolk, steady, 2S.S5c.
Boston, nominal.
Dallas, steady, 27.50c.
Montgomery, steady, 27.S5c.
Houston, steady, 2S.10c.
Memphis, steady, 30 10c.
Augusta, steady. 27.50c.
ATLANTA SPOT COTTON
Atlanta spot cotton ..... ...... .....27.75c
receipts ...''. ...'. .,... .....,.. VI
Stocks ........ J.. ...... ....... 1929
LIVERPOOL COTTON
LIVERPOOL, July 7-Cotton spot, good
business done; prices steady; good middliuS
t714d; fully middling, 1659d middling
5000; low middling, 15.14d: good ordinary,
t4.14d; ordinary, 1364d. Sales, 5000 bales,
Including 4s00 American. Receipts, 10000,
including 9,100 American.
Futures closed quiet Is points off to 20
points up from previous close.
Tone. quiet; sales, 5000; good middlns
t714d.
Prev.
Open. Close Close
July ................ 1892 1908 II. 90