Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1924-07-12
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COTTON

COTTON
NEW YORK, July 10.-The cot
ton market opened firm today at a
decline OF five points on July but
generally 10 to % points higher in
response to relatively steady Liver
pool cables and nervousness over the
wet weather in the eastern belt.
There were only a couple oS'notlces,
but July sold off to 1886 or Is points
net lower under liquidation. New
crop months lost 10 or 10 points of
their opening advance, selling being
encouraged by reports of beneficial
showers in the southwest. October
eased off from 24.95 to 24.76. Liver
pool reported a less active spot de-
mand but American and trade buy
ing of old crop months in that
market.
July remained relatively weak,
yesterdays furry of covering APP
parently having eased its technical
position. Liquidation was accom-
panied by more definite reports that
some cotton was being returned here
from Bremen for tende: on July con-
tract. July broke TO 29.C3, II points
net lower and later nonrhs showed
net losses of II to p points around
midday with October selling down
to 24.46.
The midday decline was followed
by a rally of 20 or 25 points in the
of T11IN fro t
covering, but general business re-
manned quiet. The market was about
Is to % points net lower at o'clock,
October selling at 24.50.
NEW YORK COTTON
The following were the ruling prices in
the exchange today:
Tone, steady; middling 80. 25c; quiet.
Last Prev.
Open High. Low. Sale. Close. Close.
July :. % co % co % OS % 81 % % %. so
Oct ...24. SO "a. % n 40 40 u 40 "a So
Dec. ..24.1S "a. u %. - %. - % 70 % 80
Jan. Pr 5 II. 05 % 80 80 3.57 % SO
Mich. ..24.17 24.17 %. IS %. IS 49,. - o.
May ..24 % a % % 50 % s. D s. 81 10
Cotton futures 1915 a. m bids, steady;
July, .912; October 24.4S; December
2S s.; January, % 81; March, 25.S4-
NEW ORLEANS, July 10.-The
cotton market opened higher owing
to Liverpool much better than due.
First trades showed gains of 10 to
10 points with October at 1895. July
traded up to 27.02 or y points net
higher during the call and December
reached 23.77 or IA points net high
er, but October did not advance
above the opening figure. The MAJ
ket eased off slightly soon after the
call on acknowledgements weather
reports and the absence of lower
temperatures which had been pre-
dicted. Following a squirt of activity
at the start the market quoted
down.
Liverpool eased off somewhat at
the close there and the weather map
was favorable. This coupled with
private reports of showers in Texas
where needed and an official fore
cast for showers in the western belt
gave the market an easier turn and
traders sold, encouraged by the ear
lier technical position due to recent
short covering, and anticipating
weekend reaction. October declined
to 1888 or 81 points down from the
opening high and December traded
down to 23.47 or 80 points down
from the high. The market near mid
session was quiet and near the low
points. Wilmington exported 10000
bales to the continent today.
The market experienced a mod
crate rally during the noon hour, and
prices advanced about Is points from
the low of the morning, with October
at 1918 and December at 1888. The
recovery was due to buying by those
who sold earlier in the day, owing to
over the continuance of
showers in the eastern belt. Map
readers professed to see indications
of bad weather from several areas
of low pressure shown on the map.
The market ruled steady during the
early afternoon, but prices continued
within the earlier range.
NEW ORLEANS COTTON
The following were the ruling prices in
the exchange today:
Tone, steady; mdding, 2S.40c; steady.
Open. High. Low. Sale. Close. Close
July 27 60 % 90 &c. SO 26 90 2G 80 &c .90>I
Oct. % .95 23. 95 23. 30 % 30 o. % %. 16
Dec. %. 10 23.77 %. 40 % 40 %. 40 %. G%
Jan. :. %. IL 23.71 % 40 % 81 % sc % 81
Mch. NO.. 80. 49,. ..... 23. 40 80
Cotton futures. II a. NJ. bids quiet; July,
26 S.; October. 23 G.: December, % 40; Jan
nary 23.47; March, 23,54.
SPOT COTTON
Atlanta, steady, IS. 1oc.
New York, steady, 30.a5c.
New Orleans, 2S 40c.
Galveston, steady, IS. 75c.
Mobile steady, 2Sc.
Savannah, steady, 81 csc.
Wilmington, steady, 81 .60c.
Norfolk, steady, 2S.55c.
Boston, nominal.
Dallas, steady, sc.
Montgomery, steady 27.75c.
Houston. steady, IS SOC.
Memphis, steady, % soc. /
Augusta, steady, - zoe.
ATLANTA SPOT COTTON
Atlanta spot cotton -. ........@S. Zoe
Receipts .'...... ..-... .... ....''.. lfu
shipments - 80 .''''.''.. None
LIVERPOOL COTTON
LIVERPOOL, July 10.-Cotton spot quiet