Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1924-02-28
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COTTON

\A> ~ - -
NEW YORK, Feb. 27.-The cotton
market opened firm roday at an adj
vance of il to So points in response
10 steady cables from Liverpool, Gov
erins and buying for reaction att
er the big break of yesterday. rms
openinc advance met some held-oVef
foundation and there were reactions
of ~ or % points, hut trading pc
ra,,,e ouieter after the first few NM
n+es and active months ruled ABOUT
s TO IA points net higher. W4tn May
selling around 29.14c and July ~o'o'C'
The weekly report OF the Weatn;I
bureau made rather IN unIaNoraple
in1nression, but no apparent eject
Private cables said the early hrlnneS7
of Liverpool was due 10 GOVERNS vi
a general belief that there Woulu oe
no lockout OF mill operatives IN Ian
cashire. 4,o
The market weakened during the
n7idd!e Of the morning under con,
mined liquidation anG local ana
southern selling. Stop loss ORDERS
were uncovered when May WORKED
below %. 60 and the decline EXTENDED
m aS.S3 for that position Whlle july
sold off to c5.15. making net losses
~ II tn y points on the old crop
nosi+ions New crop months were rel
atiyely quiet and steady but Octo-
Ger decline to $3.50, or Is points net
lower. After the execution Oh the
stop order; there were rallies on COW
sring and the market was quiet put
steady at midday with May selling at
29.07 and July at 2S.40 or tour 10
seven points net higher.
in the south led to continued cover
ing during the early afternoon ana
prices worked at 29.45 for May or
about 40 to As points net higher on
,ldc ron positions The market was
few points off from the best around
o'clock under realizing with the
tone steady.
The following were the rulirg prices IL
the exchange today:
Tone. very steady; middling, 29.55c; quiet.
Open High. Low. Sale. Close. Close
March 90. 90 30 IS IS. 80 30. - % 2S.70
Nav %. 81 %. 10 2S. IS % 6S %. &C 200
JnIv .2S. SO %. 90 IS. II IS. 96 Is S 2S.36
Oct. .26.15 2G % % so 26. % %. 20 %. 93
Dec. Z. .25.7J 2597 -. IS %. 81 % 81 25.Go
Cotton futures 1915 a nj. bids, steady;
March s'G0: May, 2S97: July, 1881
! October, 20.S3; December, 2o-o5
NEW ORLEANS COTTON
NEW ORLEANS, Feb. 27.-The
rotton market opened steady with
healthier feeling. Liverpool was bet
ter than due, owing to Il belief that
The Lancashire lockout will not ma
terialize. Weather overnight was
still unfavorable and the weekly
weather report was decidedly buIllsh.
First trades showed gains of. 70 to
81 points and the near months soon
gained to points additional, oW-
ing to kilograms from south Texas,
reporting that all early cotton al
ready up had been killed by the
freeze. New York reported $500 adj
aitional March notices circulated
there this morning. Worth street
sold 81 100000 of cotton goods yes
terday.
After a period of steadiness, the
cotton market eased off sharply in
the second hour of trading on a re-
neWal of selling and realizing. The
influence back of the decline which
carried May down to 2S.61c and July
10 27.SSc or AS to AZ points down
som the early high and IL to 10
points down from the previous close,
was the renewed fear of the Lam
eashire lockout developing. The
weather forecast was also more Ia
gorable. Towards noon the markets
rallied again on more reaSSuflng
news from Manchester and talk OF
extensive damage by cold in south
Texas. Prices recovered 26 to 81
points from the low.
Cotton continued to advance DUR
ing the afternoon on reports OF
good SPOT demand here. Liverpool
also reporte dan urgent demand Tor
export A prominent New York
operator, now here, was bidding in
The local market for large blocks.
rhe feeling was distinctly more bull
8 hand it was believed the large
short interest might endeaVor to
cover at any time. Prices advanced
% a level SO to IS points above the
previous close, May trading to 29.37.
The market then eased off moderate
" on Washington advices that
prominent trader in Palm Beach was
20 be officially asked to explain his
short selling.
NEW ORLEANS COTTON
The following the ruling prices in
The exchange today:
Tone steady; middling. 29.75c; steady.
Last Prev
Open. High. Low. Sale. Close. Close
Iarch 29. ~ 70. - rs. 9S 20. rs %. - %. Is
ray rs % 20 80 rs .61 30. 40 ~. A PSI
lily 2S 50 IS. G6 - IS IS 81 IS. G2 Oh
rct %. 80 ~. 10 % SO %. 6G %. 60 % 40
Ice. 25 % - Al % II Al 25.4l % is
Cotton futures bids steady; March,
!923 May. $500: July 2S.14; October,
5.43; December, 25.l6.
ATLANTA SPOT COTTON
Etlanta spot cotton ........ .....2Ot'c
Receipts 800. ...... ......'. %
SPOT COTTON MARKET
Atlanta, steady 29.75c
New York, steady. 29.5jc.
New Orleans, steady, 29I5c.
Galveston, steady, %. zoe.
Mobile, steady, 29.50c
Savannah, steady, 291Oc
Wilmington, steady. 29.25c.