Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1924-03-08
observation-disclosures
COTTON

AOl lOlN
NEW YORK, March 6.-The cot
ton market was firm at the opening
today with prices II to "a points
higher in response to relatively firm
Liverpool cables. The advance met
considerable realizing at 2S.S4 for
May and early fluctuations were
somewhat irregular, but the tone was
steady on reactions of to points
from the high prices. There was
some buying of new crop months
on reports of unfavorable weather Ill
the eastern belt and continued talk
of delayed farm work. Private
cables reported a good demand for
new crop positions i'll Liverpool and
said the general market there was
steady with a moderate spot demand.
A southwestern authority estimates
the probable increase in acreage 1t
"a per cent.
The advance extended to 2S.97 for
May and 1888 for October before the
end of the morning, or about 40 to
Sc points above yesterdays closing
quotation. There was a little more
realizing as prices approached the
29-cent level for the active spring
position, but it was taken on set
backs Of a few points and the mar
ket held very steady around midday,
although trading was less active.
Reports of better spot demand
in the south and European buying
of new crop months in the market
here were followed by advances to
1913 for May and $500 for October
during the early afternoon, making
net gains of 81 to rs points. Reallz,
ing caused reactions of 10 to II
points from these figures, but the
market was steady around o'clock.
NEW YORK COTTON
The following were the ruling prices in
the exchange today:
Tone, steady; middling, pos; quiet.
Open High. Low. Sale. Close. Close.
Mcb. 2S. 40 IS "a IS. 80 2S.76 2S.I4 % 10
May {. rs. so 90. % IS, 65 80 1888 2S41
July rs. 16 % 80 90. 05. 2S.4S 2s.46 21.S5
Oct. . ,25 65 26 90 %. 90 %. 81 80 p. 40
Dec. .25. 20 %. SIS 2j.20 25.5S %. 45 90
Cotton futures. noon bids steady; March,
cS.47; May, 2S.S3; July, 2S.21; October,
25.7T; December. 25.40
NEW ORLEANS COTTON
NEW ORLEANS, March 6.-Cot-
ton opened Is to "a points higher III
response to much higher Liverpool
than due. The market advanced
to 1 points additional after the call,
the sustaining influence being The
generally unfavorable weather shown
by the map all over the belt. May
soon traded up to 1888 and July to
27.95 or 81 to 45 points above the
prvious close and then fluctuated
within a narrow range. Bul1ish sen.
timent was held in check by news
from Washington promising new
sensations in the oil probe. Private /
cables claimed that lockout in Lam
cashire had been averted.
The market continued to make
steady gains during the morning.
There was rather liberal buying by
local traders, and some covering was
also in evidence. Bullish sentiment
was encouraged by better adylces
from Fall River, which claimed that
the limit curtailment had been reach
ed. Drygoods reports were also bet
ter, and good local spot demand
was reported. A report from a we'll
known authority with a local branch
making the acreage increase only 3.4
per cent also helped. May traded as
high as 1920; July, 1881 and Octo-
Der, 25.4O, or so to 81 points above
the previous close.
Cotton made a new high on all
active months shortly after noon
with May at 1926, July at 2S.3S and
October at 25.45, or so to 81 points
above the previous close on old crop
months, and 60 higher on October.
Good demand for spots in southern
market at higher basis from mills
and for export were the added in
fluence. A moderate reaction or
about 25 points occurred later in the
afternoon on profit-takinS. Offer
ings were we'll taken, however, and
the selling soon subsidized. Smaller
acreage ideas are discouraging short
sellers by ring traders.
NEW ORLEANS COTTON
The following were the ruling prices il
Che exchange today:
Tone, steady; middling, 29.50c; steady.
Last Prev.
Open. High. Low. Sale. Close. Close.
Mar. 20 90 30. IS %. 29.55 90 81 2s so
Nav rs 50 20. % 1871 29.15 %. 15 2S.Ss
July ,27.S2 2s.3s 27.77 1920 1928 27.SS
Oct. ,2t.9s %. 40 90 $50 $50 % so
Dec. .2i.7O 70 100 24.7O $500 $3.50 24.40
Cotton futures, noon bids steady; March,
a954 bid; May, 29.19; July, 2S.29; October,
2540; December, 25.09-
SPOT COTTON MARKET
Atlanta, steady. 29c.
New York, steady, 29.05c.
New Orleans steady. 29.50c.
Galveston, steady, 29.20c.
Mobile, steady, zoe.
Savannah steady, 2s.65c.
Wilmington, steady, 2S.75c.
Norfolk, steady, 2S95c.
Augusta, steady, 29.15c.
Boston, nominal.
Dallas, steady, assoc.
I st. Louis, nominal.
Montgomery, steady, 2S.75s.
Houston, steady 29c.
Memphis, nominal.
ATLANTA SPOT MARKET
Atlanta spot cotton ................. 2ec
Receipts Observation-Disclosures -9i
shipments OBSERVATION-DISCLOSURES. co6
CoTToNsEED OIL MARKET
Open. Close.