Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1924-07-24
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COTTON

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NEW YORK, July 2S.-The bull
movement in cotton gathered decided
Roadway today when Wall street and
western interests who were proml-
nentlv identified with the recent big
lpturn in grain, turned their atten-
ton to cotton and bought new crop
deliveries on a big scale. Prices
reached high levels for the move
ment. October selling up to 2S.12c
and December to 27.22c, or u to 81
points above the previous close. Bet
ter reports from the dry goods mar
ket and the fact that showers in
the southwest were limited to a
comparatively small area, helped to
stimulate the buying movement.
Early trade generally was broader
than it has been in many weeks
Liverpool, fearing another small
crop, also was very strong ana
higher.
hTe upward trend later was
checked by the weekly government
weather report. This proved so ia
vorable that an aggressive selllnS
movement began, which quickly
sent prices off 80 to 80 points form
the top, with July selling at 1882
and October at 277S. Offerings later
diminished and prices snapped back
to within 5 or 10 points of the high
est forenoon levels giving the mar
ket a firm tone at midday
The early afternoon market was
dominated by reports of high tenn
peratures over the entire southwest
which caused a renewal OF actlve
buving. October mounted to 2S.55
and December to 27.65, representing
advance of II to 1870 points. Snort
covering sent July up to 1880 ,lSo
points above last nights close.
NEW YORK COTTON
Tho following were the ruling prices IN
the exchange today:
Tone, steady; middling, $1,000, steady
last Prev.
Omen High. Low. Sale. Close. Close.
r,,,r % % "a so SO. % 81. so "a 70 30 50
OCT. 81 Sc % 90 81 sc IS. 81 $3.50 70
Dee o6. IS 2S .O5 26. so 90 % 90 70 4'
10, DC * % 90 %. 20 p 80 27.s5 PC .3S
Mch. &c. 81 IS 20 26. 95 IS. Is 2S. Is 90 80
Nav -. O5 $500 - .05 90 $50 700
Cotton futures, 1915 a. M bids steada;
July. =: October, 81 Sc: December, zo.So'
January 26. 81; March, u IL.
NEW ORLEANS COTTON
NEW ORLEANS, July 23.-The
cotton market had very hrm open
ing owing to Liverpool cables prov
ing very much better than due. FIRST
trades showed gains of 80 to A
noints. and prices continued to ad-
vance during the early trading untll
October traded at 27.25c and Decem-
her at 27.05c, or "A to 76 points ABOVE
the previous close. Active covering
and more or less trade buying were
in evidence, the advance being due
to high temperatures in the belt gen
erally and damaging hot WINDS re-
norted from the west. The market
showed a. tendency to react shghtly
at the close of the first half hour OF
trading.
After advancing to 27.45 for DC
tober, the market reacted about 81
points on the issue of the weekly
weather and crop summary Whlch
showed the cror to have made more
favorable progress during the past
week. Prices at midday made new
highs for the day with October at
27.7O and December at 27.51, or l2O
to 121 points above yesterdays close.
. ,rhe market eased off about IL 10
30 points near mid-session on reallz-
ing.
After easing off about 20 points
on realizing during the noon hour,
the market rallied again on a fresh
wave of buying and made new hlShs
during the early afternoon with DC
tober at PITS and December at 27.60,
or 1923 points above the previous
close and 95 points above the lows
of the morning. The principal stlm-
ulating influence continues to be re-
ports of drouth damage in the west,
although the exporting of l7,406
bales by New York today was con-
tributing influence.
NEW ORLEANS COTTON
The following were the ruling prices In
the exchange today:
Tone, steady; middling, 30.40c, steady.
Last Prev.
Open High. Low. Sale. Close. Close
Iutv IS. 20 % .OS %. 20 %. 0S 30 .0S IS. 20
Oct &c. SIS IS 10 &c. SO IS 10 % 05 2G 40
Doe 10 81. 30 &c. 65 81 90 7.SS 26.31
Jan. ..26.74 % 81 e6.74 27.s1 27.s1 26.19
Mch. PC "a 81 90 "a 80 100 26.S
May -. 49,. 49,. 2'.o' @o.''
Cotton futures II a. m. bids. steady; July,
as .9S asked October, 27.50: December,
q 80; January, ~ %; March. 2'.3o
SPOT COTTON
Atlanta, steady, 51.5Oc.
No,, yort steo5y So 30c