Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1924-09-18
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COTTON

NEW YORK, Sept. 17.-The cot
ton martAk opened firm today at an
advance ut 20 to 30 points on reports
that the trade had been heavy buy
er in the break in the local market
late yesterday and that spinners
had been calling cotton heavily in
Liverpool this morning. October sold
up to 2195 and December to 21.75
on rebuying by recent sellers and
a further demand from the trade,
but the south was a considerable
seller here and the opening demand
was soon supplied, prices easing off
20 to rs points from the best dur
ing tie early trading. A private re-
port was issued showing a condition
of So and crop indication of II, 720,-
600 bales, or 13,100,0 900 bales based
on the government pars and acre
age.
The early reaction was checked at
21.72 for October and 21.30 for De-
cember and prices worked higher on
covering and trade buying. The
weekly report of the weather bureau
exerted little effect but private re-
ports of delays in picking or mar
keting cotton because of the recent
rains helped the rally. October adj
vanced to 1900 and December to
21.61 with the general market rul-
ing about IS to SO points net higher
at midday.
Another private report estimating
the condition at STA and the indicat-
ed yield 13,019,000 bales failed to
cause much selling, and the early
afternoon market worked up to 22.10
fnx hay
or 40 to IS points net higher. Re
ports of a better spot demand helped
the advance, and the market was
steady within to points of the
highest level around 2 o'clock.
NEW YORK COTTON
The following were the ruling prices IA
the exchange today:
Tone, steady; mi6dling. 22.5oc; quiet.
Last rrev.
Open. High Low. Sale. Close. Close.
Oct. ..21 80 % 80 81 .73 22.27 % % u 81
Dec. ..21. 55 q 80 81. 80 81 50 81. So u %
Jan. ..2155 81. 80 II SO 81. ST 81 SO u. S3
Mar. ..21 rs %. 20 Il 80 % 10 %. 81 sc
May ~ 05 %. As 81. 81 %. 40 % 40 y 80
July ..21 81 u. 81 81 go 81 81 %. OF y 40
I0:45 a. m. bids, easy; October, blank;
December, q 40; January, u. 46; March,
21.70; May, .9S.
NEW ORLEANS COTTON
NEW ORLEANS, Sept. 1.-THE
cotton market opened firmer first
trades showing gains of 16 to II
points over yesterdays close. Liver
pool cables were better than due
and unwanted rains were reported
din. northwest Texas and in Okla
hon1a. There were further heavy
rains in the Atlantic coast states as
a result of the gulf storm. Prices
gained further after the opening cali
until October traded at 21.15, De
cember at 21.30, and January at
2134 or 81 to % points above the
previous close. The advance at
tracted fresh hedge selling and
prices eased off about 10 points
from the initial highs at the end
of the first half hour of trading.
After easing off moderately to-
ward the end of the first hour priSec
rallied on reports Of a good spot de-
mand October and December advanc-
ing IA to 20 points above the early
lows. The market then eased off
on a report by a prominent south
ern authority making the condition
IS and the indicated yield 12,720,000
on their own acreage and on a report
by "a New York spot firm making
the condition STA and the crop 49,
019,000. October traded down to
20.92 or 81 points below the earlier
high, all months making new lows.
Near midsession the market rallied
briskly on good spot demand and
large shorts covering and October
traded up to 21.S0. ALL months made
new highs.
After fluctuating feverishly during
the hour before noon, the market
rallied again in the early afternoon
and all active months made new
highs for the day on nervous shorts
covering and reports of more rains
in Texas where not wanted. October
traded up to 21.3S, December 21.4S
and January 21.55, or 38 to 46 points
above the lows of the morning ana
DC to 81 points above yesterdays
closing levels. Exports for the day
totaled 34,206 bales, of which Hous~
ton contributed 1850, New York
1854 and New Orleans 5,042.
NEW ORLEANS COTTON
The following were the ruling prices in
the exchange today:
Tone, steady; middlng, 150c; steady.
Oct. ..21 .O3 II. 90 20. 90 % AS 81. Al 30. SO
Dec. ..21 20 81 sc n .05 81 60 81 go u o.
Jan. I'll "a II. ~ u IA u &c 81 &c II OF
Mar. ..2t "a Il % II Al 21 .96 81 80 u 81
May ..21 ga 81 Sc u. 90 IL ~ - 90 II. Al
IL a. IN. bids, steady; October, 81 n;
December, 81 80; January, y SO; March,
81 60; May, PHO
ATLANTA SPOT COTTON
Atlanta, steady, 21.35c.
New York, steady, 22.50c,
New Orleans, steady. 81. SOC.
Galveston, steady, n .50c
Mobile, steady, POS
Savannah steady 21 1Sc.
Wilmington, steady, 21.25c.
Norfolk, steady, 21.2Jc.
Boston, nominal
Dallas, steady 20.50c.
Montgomery, steady. 20.3oc.
Memphis, steady, pc.
Charleston, steady, 21S5c.