Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1924-02-21
COTTON

NEW YORK, Feb. 20.-The cotton
market lost a good part of yester-
days rally during today's early
trading. The market opened barely
steady at an advance of s points on
March, but generally 8 to II points
lower because of disappointing
Liverpool cables and overnight re
ports of a continued poor demand for
cotton goods in the local and Fall
River markets. There was some fur
Their covering, but the market almost
Immediately weakened under re-
newal of liquidation and southern
and local selling. May contracts,
which sold at 309Sc at the opening,
broke to 3050c within the first half
hour, making a net decline OIL ~
points, and the general list sold
about 25 to 40 points below yester-
davis closing. Private cables reported
a quiet market in Liverpool with
POOR spot demand. but said that
Manchester was doing fairly large
business.
Covering became more active after
the early break to $3.50 for May
and some trade buying was reported
as a result Of which prices rallied
rather sharply. May contracts SOLD
ND to 31.15, or 65 points from the
lowest and 25 points above yester-
days closing, but there was a little
more cotton for sale above the 81
cent level and there were reactions
later. At midday May held around
1892. Reports that southern mill
curtailment was increasing We're
factor on the late forenoon setback
The market weakened during the
early afternoon under New orleans
Memphis and Wall street selling with
Nav declining to 30,45. The gem
eral market was unsettled at
o'clock with. active months showing
net losses of 20 to So points.
NEW YORK COTTON
The following we're the ruling priceN 10
the exchange today:
Tone, steady; mddling, 2a.90c; quiet
Last Prev.
Open High. Low. Sale. Close. Close
March 80. 60 80. IS 80. 80 so 30 60 so o
May 80 9s 81. Is % so 80 30 9s 80 30
July 80 10 so. 20 20. O5 29.17 29.1o 3d..
Oct. &c. 60 &c. 10 26. 07 26. 10 26.10 26.ej
Cotton futures Il As a. m. bids steady;
May, 31.02; July. 1921; October, 1858 ask
ed; December, IS Is
NEW ORLEANS COTTON
NEW ORLEANS, Feb. 20.-The
cotton market opened fairly steady
and unchanged to points down
on old crop months. Liverpool. alter
being considerably lower than due,
rallied near the opening of our mar
ket on a report that the dock strike
would be settled. Our market then
reacted 81 t6 80 points on the active
old crop months on reports OF fur
Their mill curtailment in the Caro-
linas May traded down to 30.20c and
July to 29.42c. Better weather shown
by the map in the western and CEN
trail portions of the belt helped the
decline. The market was steadier
at the end of the first half hour OF
trading and rallied to points.
The market continued to rally dur
ing the middle of the morning ses-
sion until May traded up to 30.70c
and July to 29.91c, or 40 TO SO points
UP from the early low and 10 to -
points above the previous days
close. The stimulating influence APP
peared to be the government weekly
weather report, which said that the
weather had been unfavCrable for
crop preparations in the last half or
the week. Continued favorable pros
poets for the settlement of the Brit
ish dock strike helped the recovery.
The market turned softer in the last
part of the morning, mainly on real
ling, easing off 10 to 20 points.
After a period of quiet the mar
ket again weakened in the early aft
ernoon and selling became active.
Prices broke 81 to 90 points but re-
covered about 20 points from the
lowest.
NEW ORLEANS COTTON
The following were the ruling prices in
the exchange today:
Tone, steady middling, S0.25c; steady.
Last Prev,
Open. High Low. Sale. Close. Close
March 80 30 81 .03 20 SO so o. 30 % 30
!. May 80 80 so. 20 ~. - 20 - 20 81 80 81
July 20 so 20 81 IS. 10 IS 81 2S.s4 %. so
Oct. .26 .os 26 os 25.52 % SO %. 81 26, o5
Cotton futures noon bids steady; March,
s0.S7 asked; May 30.51; July. 29.72; oc-
lober. 2601 December, ao.Go
ATLANTA SPOT COTTON