Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1924-03-13
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NEW YORK. March l2-There
VS. a further advance of six TO
eleven points in the opening cotton
market today Active positions sold
Is to II points net higher after the
call on covering and commission
house buying Reports Of a better
spot demand were a factor on the
advance, but Liverpool cables were
rather lower than due ana the mar
het !7ers met increased offerings
around 2932 for May and $3.50 for
October As a result prices eased
off % or 50 points from the best dur
Ing the early trading. New Orleans
and houses with other southern con
hections were among the early sell
ers There was realizing by recent
buyers around the 29.cent level for
May delivery.
The early reactions to $50 for
May was followed by rallies which
appeared to he chiefly influenced by
the unfaVorable weather outlook and
the firmer tone in the foreign eX
change market. May sold up to
28.09, or > points net higher, but
asain met somewhat increased of
ferir IS above the % cent level and
prices WeYe some 10 or 20 points off
from thu best around midday.
MAY sold off in the afternoon to
$3.50, or 81 points net lower, on re-
ports of continued poor trade in
cotton goods and small exports for
the day. Prices were within to
points of the lowest around , o'clock
with the market unsettled.
NEW YORK COTTON
The following were the ruling prices iE
The exchange today:
Zone, steady; middling, 2S.3]c; quiet.
Last Prev.
Open Hlgh. Low. Sale. Close, Close
March .28. 10 Is. - IS 05 IS 05 rs. O2 IS. 50
May rs 80 ~. 90 rs u IS So so % 81
July rs SO IS. IS 27.57 - 81 7.65 rs -
oct. % rs p 81 p. 80 % 81 %. - - 63
Dec %. u %. II - Oh p. 0G POL % 80
Cotton futures, 11:f5 a. m. bids, steady:
March. 1855; May, 2S.96: July, ISIS; Oc-
t9ber, 25.72; December. 25.35.
NEW ORLEANS COTTON
NEW ORLEANS, March 12.-The
cotton market opened at a small adj
vance over the previous close despite
poor Liverpool cables First trades
Showed gains of to 16 points over
the previous close. The main slim
ulating influence was q further good
advance in French francs. There
was some further gain after the call,
May trading up to 29.15 and October
to 25.2S, or 16 to II points. net high
er. Selling then developed on rather
disturbing British labor news and the
market declined rs to 80 points from
the initial high. Weekly weather
reports delayed by wire trouble.
Small craft storm warning is posted
for Texas coast.
{ After rallying some from the
early low and making new highs on
May and July, the market became
quiet, fluctuating within a range of
about 10 points. The sustaining in
fuences were the better financial
news from France and England, and
the return of very bad weather in
Texas. Rain was reported in the
southern part of that state, and
snow and sleet in the more north
erly portions. The weekly weather
report was still delayed by wire diff
ficulties, but fragments quoted from
New York, indicated it was general
ly bullsh. The market at noon
showed no definite trende.
After ruling fairly steady with
moderate trading during the early
part of the afternoon, sustained by
the bad weather in the west, the
market weakened later. May fell
off to 2S.55 and July to 27.62, or
IL to 43 points below the previous
close October declined only to
24.86, or % points below yesterdays
close. The first incentive to a re-
neWal of selling pressure was a fore
cast of February consumption of
only 48S,0O0 bales by d prominent
southern authority. Later. early
buyers sold rather freely despite
the fact that the belated weekly
weather repor tproved fully as bull
ish as expected.
NEW ORLEANS COTTON
Pie following were the ruling prices ir
the exchange today:
Tone steady; middins, 2S.75c; steady
Last Prev
Open High. Low. Sale. Close. Close.
March % 80 - 30 2S. 81 2S. 50 2S. Us 30. 33
May 20. Oh % Is -. 80 Is. 46 2S. 10 IS. 9S
July .2S 20 IS. % 81 SO ~. 80 ~. 80 IS "a
Oct. % 26 % % 24. 24.79 24.7s 25.12
Dec. ...... $50. 80. 500. II. 40 n. -
Cotton futures. noon bids, steady: March,
% ,20 May, 2S.93; July, 27.9S; October,
20 Oh; December, 24G9.
ATLANTA SPOT MARKET
Atlanta spot cotton ................ soc
Receipts OBSERVATION-DISCLOSURES. So
Shipments Observation-Disclosures. 45J
SPOT COTTON MARKET