Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1924-06-17
COTTON

NEW YORK, June 16.-The cot
ton market opened easy at decline'
OF ID to so points today under a.
continuation of Saturdays selling
movement, and in response to rela'
lively easy Liverpool cables. July
], sold OFF TO 1857 and October to 25.55
in the first few minutes, but at
these prices the market steadied and
renewed covering by near month
shorts and buying of new crop posi-
tons on reports of abnormally high
temperatures in the southwest. July
rallied to 2S.65 and October to 1913
and the early market worked back
to within Is or 20 points of Satur-
days closing quotation. Private
cables reported importers selling in
Liverpool but with considerable
trade buying to fix prices.
Private crop advices reporting
that dry, hot weather in the south
west was beneficial discouraged gen.
eral buying. There was enough I'M
certainty as to crop progress in that
quarter with a continuation of the
high temperatures, however, to re.
strict offerings and the market held
generally steady late in the morn
ing. Prices at midday ruled around
$3.50 for July and 25.75 for October.
or 10 to % points net lower.
A furry of liquidation sent the
price of July down to 2S.45 or AZ
points net lower but there was very
little selling of new crop positions
and the entire list rallied later on.
the detailed weather reports show
ing very high temperatures over
Texas anad Oklahoma. Trading was
quiet but prices held steady around
2S.72 for July and $3.50 for October
at o'clock.
NEW YORK COTTON
The following were the ruling prices in the
exchange today:
Tone, steady; middlng. 90 .75c, quiet.
Open High. Low. Sale. Close. Close.
.ruly 2s. go IS. 81 2s. As s.79 2s.7s %. 81
Oct. !. p. so 2s.Os 25.54 25.9e 25.95 25 So
Dec. :. 24.s5 % 20 24.s5 1921 20 %.
Jan. !. "a. 81 q. 90 24.5s PADS 24.9s 24.ss
Mar. "a. so 25. 20 80 Is. 20 25.15 %. O4
1O45 a. m. bids, steady; July. 2s.7o; 0c-
tober, 2o.Tl; Decemoer, 20 w, january,
blank; March, 24.S7.
NEW ORLEANS COTTON
NEW ORLEANS, June 16.-The
cotton market opened down on low
er Liverpool cables than due and
continued favorable crop accounts.
First trades were thirty eight points
down on July, and twenty-five to
twenty-six down on new crop posi-
tons. July eased off further right
after the call, trading as low as
2S.08, or fifty-five points below Sat
urday's close. October declined to
FATS and December to 24.57, or thir-
ty-three and twenty-seven points net
lower. The market rallied slightly
toward the end of the first half
hour Of trading owing to continued
high temperatures in the west. Cot
ton goods reports showed no i'm
provement
The market rather ignored the
weather map showing continued
warm and fair weather in the whole
belt and the official forecast for fair
and warm with some Thunderstorm
ers. Unfavorable 'anchester news
and smaller exports of cotton cloth
from Great Britain during May COM
4 pared with last year were also ig-
nored and the market experienced
d good rally. The advance carried
July up to 2S.52 or A points above
the early low. New crop months
recovered all the early decline, Oc-
tober trading up to 25.10 and De.
cember 24.S3 or to Saturdays clos
IS ing figures. The rally was due
u.ainly to reports OF very high tenn
oeratures in Texas and Oklahoma,
some stations reporting Ill degrees.
The market at mid session was
steady near the highs of the morn
ing.
around noon, mainly on the official
report showing maximum tempera'
lures OF 100 to ITO degrees at 70
stations in Texas. October traded up
to 1928 and December to $500 or
AZ to As points above the lows of the
morning and IL to 16 points above
the previous close. July showed lit
tie movement and remained within
the previous range. Traders fear that
the protracted high temperatures
are damaging young cotton. The
market was quiet and slightly reac-
tionary in the early afternoon owing
to lack of persistent support.
NEW ORLEANS COTTON
The following were the ruling prices IL
the exchange today
Tone, steady; middlng, 90 5c, steady.
Open. High Low. Sale. Close. Close
July 5. 2s. % 2S. 50 2S. 0S IS. 40 rs. 40 IS. GO
& Oct. 24.s5 %. % PATS 25.19 25.1S 20. IL
Pee. !. "A. 80 $500 24.57 24.95 24.95 "a. 81
ian. !. 24.57 "A. 81 24.5O pa 24.oo "a. 81
Mar. ..... ..''. ..... 24.9o "a. 81
ii 4. m. bids, quiet but steady; July,
"a. asi october, %. O5; December, a. SO; Jan
uary, 81 so; March, "a. so.
SPOT COTTON
Atlanta, steady. 29.75c.
New York, quiet 29.75c.
New Orleans. steady, 29.I5c.
Galveston, steady, 29.S5c.
Mobile, steady, 2S.75c.
Savannah, steady, 29.45c.
Wilmington, steady, 2S.S5c.
Norfolk. steady. 29.75c.
Boston. nominal.
Dallas, steady, 29.05c.
Montgomery, steady, 29c.
Houston. steady, 29.S5c.
Memphis, steady, 30.25c,
Little Rock, steady, 29.I5c.
Augusta, steady, 2s.44c.
ATLANTA SPOT COTTON
Atlanta spot cotton .............29 zoe
Receipts .,-............''...
Shipments ....................... lie
Stocks ACKNOWLEDGEMENTS. .l2,ol-
LIVERPOOL COTTON
LIVERPOOL, June 16.--Cotton, spot
quiet; prices easy; good middling, lS.06d;
fully middlng, 17.56d; middling. 17.O6d; low