Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1924-06-03
COTTON

NEW YORK, June 2.-RepOrtS OIL
unfavorable weather for new crop
developments over the holiday and
strong Liverpool cables were reflect
ed by a firm opening in the cotton
market today First prices were Is
Ito So points higher on covering, re-
buying by sellers of last week and
fresh commission house buying,
which sent prices up to S0.07 for
July, and 27.00 for October, or about
IL to SIS points net higher during
the early trading. Liverpool cables
reported that American and CONT
mental interests had been buying
new crop months in the market
there on the unfavorable weather
and crop reports and that Lam
cashire interests had been buyers of
July. Three more private reports
were issued with condition figures
ranging from 66.3 to 6S.3 and
acreage figures from 90 to AS per
cent increase.
After the initial buying orders had
been supplied the market eased off
some Is or 20 points under realizing
in advance of the governments crop
report. The latter placing the condi-
ton at 65.6 was below general eX-
became very active and excited i'm
mediately following its publication.
Within a few minutes the price of
July had advanced to 1880. October
to $3.50 and December to 26.75 or
IS to los points above Thursday
closing quotation.
Buying orders, set in motion by
the bullish crop condition figure, APP
parently were supplied on the adj
vance to $3.50 for October, and the
market quoted down toward mid
afternoon with prices working off to
29SS for July and 27.02 for October
delivery. These figures represent
ed actions of 40 to so points from
the best. but active months were
still 90 to 81 points net higher around
o'clock.
NEW YORK COTTON
The following were the ruling prices ia
the exchange today:
Tone, steady; middling, 32.75c, quiet.
Last Prev
Open. High. Low. Sale. Close Close
Ialy :. 90. Is 80. so 30 10 20. 10 % II 90. 65
Oct. :. &c. so 81. 80 &c. ~ 26.72 26.72 &C.. As
Dec. !. 26. % 26.75 % 81 25.97 25.97 25.73
Jan. &c. 90 PC. 80 %. so %. 50 %. so %. sc
Mch. ;. ae07 %. 50 % O3 %. So %. So %. 66
Zen forty-five a. M bids steady; July,
20. 92c; October, oG.90c; December, &C. loo;
January, 26.O0c; March, 2G.0'c!
NEW ORLEANS, June 2.-The
cotton market opened Irregular de-
spite good Liverpool cables and
very pessimistic report on cotton
crop conditions by the federal re-
serve board. First trades showed
gains of II points on July and four
on October and losses of two to four
points on later positions. Prices
eased off right after the opening call.
until July traded at 29.94 October
26.17 and December $3.50, or 9 to IA
points down from Saturdays close.
The market then became quiet
awaiting the government condition
report. A private report made the
crop condition 64.4.
The market ruled rather quiet
prior to the issues of the government
condition report and prices eased off
gradually. Just before the flash
showing the condition average to
be 65.6 per cent of normal July
traded at 1884 and October 26.14 or
II to IA points below the previous
close. The condition proving lower
than anticipated prices shot up
sharply and July soon traded at 30!40
and October 26.70 or 46 and Sc points
respectively above the figures ruling
just prior to the issue of the bureaus
report. The market then eased off
gradually on profit taking until July
traded down to 30.0S and October
26.39 or 81 to, 80 points down from
the high points.
The market continued to ease of
towards noon and into the early aft
ernoon on profit taking until July
traded down to 1856 and October to
$500, new lows for the day and 80
to 70 points down from the high
hts reached after the issue Of the
government condition report. The
market then turned quiet and fluc-
tuated within a very narrow range.
Fall River reported sales of print
cloths last week of 10000 pieces, the
yargest sales for several weeks.
NEW ORLEANS COTTON
The following were the ruling prices In the
exchange today:
Tone, steady; middling, S13oc, steady.
Last Prev.
sOpen. High. Low. Sale. Close. Close.
July :. - so. 40 30. 80 20 50 20. 80 80. 0S
Oct ,. 80 &c. 20 %. 9S 26 o. %. 90 &c. 26
Dec. :. $500 26. S5 -. 20 %. 10 %. 10 % 9S
Ian. :. Is. Sc 90 10 % 65 % % %. 65. % 30
Mch :. % IS %. IS % Sc %. Sc %. 65c -.
Eleven a m bids steady. July 80 O4c.