Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1924-04-12
COTTON

NEW YORK, April 10,-Relatively
firm Liverpool cables, reports OF I'm.
fayora Bile weather in the south and
bullish overnight reports from inc
snot market led to d renewal OF
active covering by near months
shorts in the cotton market opening
today First prices were firm at adj
yanct,s of SO to S4 points, with May
contracts advancing to 3l.9o ana
October to 26.00 during the first FEW
minutes. or 81 to SO points net nigh
or. The advance was checked py
heavy realizing at these tlgures.
There were quick reactions OF ~ OF
% points but the covering continued
with the market active and steady
during the early trading.
The demand from anurts later, pc
came less urgent and realizing con-
tinued with May contracts selling OH
tn 31.S1 and July 1851 or about 90 10
So points from the early high levels
Trading then became quieter and the
market was fairly steady around
midday with active months showing
net advances of so. to so points, Prl-
vate repo.ts ym thc So. 'est thal
rains would cause q considerable de-
Law in farm work eXerted a sustain
ing effect on the late forenoon mar
ket
The market was easier in the ear
w afternoon. under continued reallZ-
ing ana selling for a, reaction when
seemed 10 he. encouraged by reports
of an easier feeling in the stock
market May declined to S1.2o ana
October to 1852, making reactions
of 80 to 20 points from the hl3n
level of the morning, but steamed
at these figures on. renewed cover.
inc with the market ruling apout
10 to 40 points net higher arouiiu
2 o'clock.
The following were the ruling prices an
the exchange today:
Tone steady: middling, Sl.69c; quiet'
Omen. High. Low. Sale. Close close
,,: ., ~ ~ ~ 81 % 81. 81 81 81 81. 02
Ju1v 80. 10 so. IS %. Go 29.6 DO -e.ot
net 80 a6 90 ~. 81 25.G4 % .6a .. 10
nsc y. 80 %. IS n. 9s 25.0J 2o.oo "a. oV
Ian. n. so II "a "a. 52 400 49, y.
cotton futures II :4j M bids IDS. st re- ~
October, 18Th; December, 2o-oo-
NEW ORLEANS COTTON
NEW ORLEANS, April l0.-Ihe
cotton market had a wildly excited
ononine owing to the strength o.
Liverpool, which was more imam oo
American points higher tnan aue'
The first trade IN May was
at $500. but as the call pfoceeaeo
that month sold up. to 1881 or lo9
points above the close OF yestefday'
July traded up to 1910 during the
cali or 90 points up. October advanc-
ed to $3.50 or SO up. The advance
in Liverpool was attributed "
heavy short covering on feafs OIL d
squeeze in near months OWING To
growing scarcity of supplies. The
market eaSed off Al points. on May
and AZ on July on realizing ana
uuieted down considerably by the emu
of the first half hour of trading.
Following the sensational advance
o. a little over a hundred points at
the opening the mraket eased OIL
RAPIDLY on realizing and then re-
lapsed into dizziness until within half
an hour of noon when prices weak
ened sharply on rumor that q
prominent authe- -Llmated Mafcn
consumption at only 4S3,00O bales
against G23,000 i'll March, 1923.
Weakness in the stock market
owing to falling off in untitled steel
orders helped the decline. May drop
ped to 81 40, July to 1856 and Octo-
ber to 2494, or 81, 50 and 40 points,
respectively down from the early
high.
The market fluctuated hefNously
during the afternoon within mar
row range, but generally above the
low level of the forenoon Although
constructive sentiment was held IN
check ov an easy stock market, the
market was supported by a very
good spot demand at high basis re-
ported bv interior markets, and by
cables reporting very active busl-
ness at Manchester. Trading set.
tied around 51.70 for May, 29.70 for
July and % for October, Or so, 2q
and S points respectively above the
lows of the day, and % to A. points
above t.e previous close.
NEW ORLEANS COTTON
The following were the ruling prices IN
the exch- ngs today:
Tone, steady; mdding, loo; steady.
LAST Prev.
Open. High. Low. Sale. Close. Close.
May 50 90 81. 81 81. 40 81 40 81. 10 81. -
July so. 40 30. 40 $50 20. 81 20. 5S 20. 81
Oct, % 40 %, 30 ~ 81 M "A. ~ 4. ~
Dec. % .05 %. 05 ~ .63 81. IS "a 63 "A. IS
Jan. .,....' 80. 49,. '''.' = 40 a 80
cotton futures noon bids steady. January,
o45I; May 81 90 July, 29.G3; October,
af.9I; December, 2i.I2
LIVERPOOL COTTON
LIVERPOOL. April 1O.-totton spot,
good demand but business moderate; prices
steady Good middling. 1913; fully mid
ding IDS; middling, 1888; low middhng,
1875; good ordinary, 1898: ordinary, 1915.
sales. 10000 bales Including $500 Ameri-
can Receipts, LOCO bales, no American.
Futures closed steady. net IL TO 81 points
higher than previous close.
Tone. steadN; sales 10000; good mld-