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

NEW YORK, June 1S.-Conflictins
reports concerning the effects of con-
tinue<i high temperatures on crop
progress III the southwest seemed
lagelyr responsible for nervous and
irregular fluctuations in today's early
trading in the cotton market.
Liverpool was better than due and
after opening at decline of L to 3
points, prices here steadied on COW
ering, selling 3 or 4 points above yes
terday's closing quotations. Offer
ings increased on the bulge, however,
and prices soon reacted from 2S,5S
to 2S.4S for July and from 25.H to
1855 for October, making the market
about to 10 points net lower.
Offerings tapered off on the early
Decline owing to the uncertainty OF
crop progress in the western belt
and prospects for continued high
Temperatures in that section. The
market steadied in consequence and
rallied several points after the pub
LEGATION of the unfavorable weekly
weather reports. Except for cover
ing, however, there was very little
demand and trading was quiet
around midday when July was quot
ed at 2S.70 and October at 1859. Ii
to 16 points net higher.
The market remained very quiet
during mid-afternoon but ruled steady
to firm, July selling around $3.50 and
October 26.O7, or % to 80 points net
higher around 2 o'clock.
NEW YORK COTTON
The following were the ruling prices in
the exchange today
Tone, steady; middling, 29.90c; quiet
Open. High. Low Sale. Close. Close
July rs. 81 IS. 80 rs. At %. 80 IS. IS %. 81
Oct. % .6S 2G % p. 50 26. 20 26.17 %. IS
Dec. .24.95 %. IS ~ 80 - .4J %. 46 % OF
Jan. 24 10 25.2J ~. 10 %. 24 25.24 n. II
Mich. .24 93 % 10 n. SO % .43 % 40 ~ 80
May ...... ..,.. 49,. 49,. go. n 80
1O:45 a. m bids, steady; July, 2S.67c
October, 25.SGc; December, 2J.13c; January,
24.SSe: March, 2J.O4c.
NEW ORLEANS COTTON
NEW ORLEANS, June 18.-The
cotton market opened luietl but
Steady. First trades lnoWed gains
of to 8 points over the previous
close July promptly easel off 1t
points to 2794 and October dropped
to 24.92 or IS points off from the
opening high. Liverpool was bet
ter than due with spot sales of 5000
bales and west Texas sent reports
of damaging hot winds and sand
storms. Sentiment nevertheless seem
ed reactionary because of the poor
good trade and mill curtailment. 1t
was claimed that the. hot wave in
Texas was undated.
The weather map showed little
rain in the belt and generally fair
and hot The official forecast was
for continued fair weather and week
ly weather summary was favorable.
Despite these bearish influences the
market remained steady and later
rallied sharply on short covering ow-
ing to the reports showing twenty
stations in Oklahoma out of a total
of tWenty-nine with Temperatures
of 100 to 10 degees. Seventeen, sta
tons in Texas showed maXima of
100 to ITO against twenty-four sta
tons yesterday showing the same
range of temperatures. October adj
tanced to 1886 and December to
25.10 or 40 to 43 points up from the
early lows.
The market ruled quite steady
around noon and into the afternoon
being sustained by fears of damage
to the crop by the hot wave in the
west. New crop months attracted
the most attention, October trading
up to 1886 and December to 25.13
or 80 to 40 points above the previous
close. Price then rIuctuated within
a very narrow range and ruled most
ly close to the high point Of the
day. Interest in the weather OBJ
scured all other market influences.
NEW ORLEANS COTTON
The following were the ruling prices in
he exchange today:
Tone, stead&; middling, 90. 55c;. steady.
Last Prev.
Open. High. Low Sale. Close. Close
July rs. 10 S.35 81. So 2S.2 "a S.24 %. %
Oct. 20 .05 %. 90 "a. 80 %. 43 20. AZ q. 81
Dec. II %. 81 "A. 20 % 10 %. 10 "a. rs
Jan. "a. 76 25.1S a. rs 25.1S %. IS "a. 81
Mch. % .OO" % 90 % 90 % 90 25.1O "a. 81
II a. m. bids, quiet but steady; July,
2S. 06c: October, %. 23c; December, 25c; jan
uary, 24.90c; March. 24.90c.
SPOT COTTON
Atlanta, steady, 20. 75c.
New York, quiet, 2990c.
New Orleans. steady, 29.55c
Galveston, steady, 29.S0c.
Mobile, steady, 29c
Savannah, steady, % 40c.
Wilmington steady, 29.95c.
Norfolk, steady, 29.50c.
Boston, nominal.