Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1924-09-13
COTTON


followed yesterdays severe decline
at the opening of The cotton market
today. Liverpool was decidedly bet
ter than due ami the lcca! market
opened firm at an ad"Fsnce Of a to %
points, October selling up to 22.97
and December to 22.54 on the call.
This advance met considerable sell
ing which included further southern;
hedging, but early offerings were al
sorbed on moderate s2tLacks Ly ccv-
ering, trade buying and buying for
Liverpool account. fhers was no
change in weather or crop news.
While there were more numerous re-
ports that farmers were beginning to
hold cotton from the market, pri-
vate New Orleans advices claimed
plenty OF spots were being offered at
present prices.
The market later worked up to
1907 for October and 22.65 for De
cember on continued covering and
trade buying. The volume of busl-
ness tapered off at the advance,
however. and the improvement was
not fully maintained as the higher
prices encouraged further selling by
the south. This was accompanied
by private reports from Houston
that spots were ordered freely in
that market. Trading here was
quiet around midday with prices
showing reactions of 10 or Is points
from the best.
NEW YORK COTTON
The following were the ruling prices in
the exchange today:
Tone, steady; middling, a. 1oc, steady.
Last Prev.
Omen. High. Low. Sale. Close. Close.
Oct. :. %. so %. ii. 90 so % .OS % .0S % rs
Dec. :. % 45 -. 10 30. 3S -. sc 81. Go ~. 35
Jan. ;. D. 40 %. 90. 3S 2.6S 2.67 %. 80
Mar :. % 50 % 90 30. 6S %, "a 2.93 %. 81
May :. % 90 81 80 so % 20 IS. IS 30. 81
1915 a. M bids ste9dy: October, 22.9S;
December, 22.53; January 22.53; March,
22.S3; May, blank.
NEW ORLEANS COTTON
NEW ORLEANS, Sept. 1.-THE
cotton market opened actively with
liberal buying and short covering.
Liverpool was 20 penny points bet
ter than due and reported prominent
operators there heavy buyers. First
trades locally showed gains of A
points on October and December, the
former trading at 22.30 and the lat
ter at 22.45 After the first wave of
buying was satisfied prices eased off
almost as rapidly as they advanced
and by the end of the first half hour
of trading October had receded to
1900 and December to 22.12 or 80 to
he n o HI
still II to IA points above the close
of yesterday. Early reports claimed
that some rain had fallen in the
west.
The market encountered a good
deal of selling during the morning
and October eased off to 21.91 and
December to 22.02, or 80 to As
points down from the opening
corded the market on the dips, how
ever, due to forecast for showery
weather in the western belt and re-
ports from many points in the south
indicating that producers were hold
ing back and refusing to sell at
present prices While the demand
from domestic mills is slack there
is a good inquiry for export. The
market was steadier toward midses-
sion and rallied about II points from
the lows of the morning. The wealth
er map showed continued dry over
practically the whole belt with tenn
peratures decidedly lower in the
central and eastern portions Of the
belt but warm III the west.
The market experienced a good
rally in the early afternoon on re-
ports of rather heavy rains in south
more rain in the western belt. The
near months advanced to within &c
2 points of the early highs, with o.
tober at 22.27c and December at
R2.3Sc. January and March made new
highs at 22.45c and 22.69c, respec,
lively, or 81 to 95 points above the
previous close. Many reports were
received indicating the spread of the
holding movements. Exports for the
day totaled 1905 bales
NEW ORLEANS COTTON
The following were the ruling prices IN
the exchange today:
Tone, steady; middling, 90. SOC, quiet.
Last Prev.