Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1924-06-28
COTTON

NEW 1ONK, June 26.-There
was a renewal of covering by July
shorts in the eottan market during
todays earl% trading. A few addi-
tional notices were ISSUED, but they
evidently brought out no offerings
of consequence and after selling at
29.10 at the opening, July soon adj
vanced to 29.47 or "a points net
higher. New crop months were neld
back by the continued favorable
weather news but rallied on the
strength of the July position and
after opening 2 points higher to 8
points lower, the market soon show
ed net gains of "a points on July
and II to 16 points on later dellv-
cries.
Additional covering sent the price
of July UP to 1886 around midday,
70 points net higher and more than
400 points above October. The
strength of the spot position was
reflected by advances of 20 to %
points in the later months with Oc-
tober selling at 25.6Sc. The feature
was the strength of July.
The advance later extended to the
soc level for July, or 81 points
above yesterdays closing quotation.
New crops sold 26 to q points net
higher, October touching 25.73c. AT
these figures, the market met in
creased offerings and there were
reactions of 25 to So points from the
best. with July selling around 29.62c
and ctober 25.4Sc at o'clock.
NEW YORK COTTON
The following were the ruling prices in the
exchange today:
Tone, steady; middling. 3O.50c, quiet.
Last Prev.
Open. High. Low. Sale. Close. Close.
July 20. 10 so 90 20. 10 30 As 20. II 20 Il
Oct. ..25. 40 -. 70 %. SO % IS 81. IS 25 1,
Dec. IN GS % 90 "a 60 "a. &C u. 50 81 10
Jan ..24 40 "a 10 81. 40 "a "A "A. A u rs
Men. "a. - "a 95 y "a a 60 "a go 2i.71
May PA GS 24 81 q. 63 "a .65 - 60 ~ -
1915 Il. M. bids steady: July, 30;
October %. 90. December, 24.92; January,
24.6J Mar II, blank.
NEW ORLEANS COTTON
NEW ORLEANS, June 26.-The
cotton market opened slightly irreg-
ular first trades being 4 points up
to down, July Immediately devel-
oped a strong tone and Immediately
after the call that position shot up
46 points above the previous close on
further covering by belated shorts
and then eased off about IA points
from the top. October traded at
2481 and December 2457, or II to
L. points net higher. Another pri-
vate bureau reported the condition
at 684.
The market continued firm all
morning influenced by the hardness
Of the July position and the con-
tinued premium of spots over con-
tracts. July made new high at
% 55c or 81 points above the previ-
Gus close. October traded up to
24.9se and December to 24.72c or %
to 20 points above the previous close.
The market turned weak il the
early afternoon on liquidation by
early buyers of July. That month
declined rapidly to 27.93, a new low
for the day, and 62 points under
the high of the morning. October
eased off to 24.47 and December
24.32 new lows for the day, and
40 to Al points down from the highs
of the morning.
The following were the ruling prices In
the exchange today:
Tone, steady; middling, 29.4oc; steady.
Open High. Low. Sale. Close. Close
July ..28 08 %. SO q. 93 %. 05 %. 05 %. 0t
Oct. ..24. 65 "a. 90 24.57 lee 24.62 "a. 80
De PA 81. 70 "a. 80 "a. IS 24.37 "a. Al
ian. ...24. 43 "a .62 "a. 80 "a 80 "a 80 sc
aich. ...... -. 49,. $50. "a 80 "a. SO
II a. m. bids steady; July. 2S43; octo-
ar, 2L30; December. 24.56; January, 24.47;