COO Buying on Slight Breaks Due to Stronger Cables
Market steadied as investors showed cautious demand for equities with minor pullbacks. Trading activity paused around cable stock ETFs as liquidity improved and selling pressure remained light.
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Newspaper
Atlanta Constitution
Location
Atlanta, Georgia, United States of America
Date
Jan 26, 1900
Page
9
Market steadied as investors showed cautious demand for equities with minor pullbacks. Trading activity paused around cable stock ETFs as liquidity improved and selling pressure remained light.
New York and southern markets show steady to firmer tone with early gains of 3 to 6 points, amid strong cables and war uncertainty. March contracts attract buying on breaks while reports of higher port receipts loom and several cities quote middling around 7 9 16 cents as Liverpool and New Orleans notes keep prices steady.
The report surveys cotton stocks and planting activity across towns in Alabama Georgia Texas and Louisiana. It notes lower holdings on plantations in several districts and plans for another crop. It mentions nervousness in March shorts thinning supplies and creeping demoralization concerns in Black communities amid weak fertilizer purchases.
In New York on January 25, trade reports modest gains for brown cottons and rising denims while print cloths stay weak. Hosiery and men’s wear show renewed demand, with mixed futures in Liverpool and New Orleans notes.
The cotton market shows unusual strength in Liverpool and softer New York prices from two months prior with near positions leading gains. Traders note large spinners buying from limited Liverpool stocks while war fears in South Africa influence sentiment and liquidity remains tight amid rising short interest and cautious selling.
New York January 25. Market opened with a lift from news that British forces captured an position in Splen Kop area, drawing early buying by professionals. Traders soon sold for short accounts as outside demand lagged, prices drifting near opening levels. International money markets showed continued bank liquidity tension but stock activity stayed subdued with many issues closing just beneath opening prices.
Market activity opened with renewed vigor as Bank of England and Bank de France cut discount rates boosting both local and London markets. Early gains faded as day wore on with sentiment turning stagnant. Initial railway shares rose, but overall moves were driven by room traders with little further substantive news.
The Commercial Advertiser reports a brisk market opening on news of Spion Kop capture by General Warren, with buoyancy fading after an hour as traders reassessed. English and French bank rates lowered, consuls at 102 then 101, Americans buoyant on a misread Reuters dispatch, bond activity waning, and foreign exchange quotes firm in Paris and Berlin.
The report lists quotations for state and railroad bonds and stocks, noting high and low figures across Georgia issues and rail shares. It covers New York and London opening moves, with gains in railway stocks, traction shares, and industrials, alongside reactions to British actions in South Africa and Bank rate changes affecting sentiment.
Turpentine prices in Wilmington reach a high for the southern market, with January reports noting firm tar and rosin prices and a rich harvest for turpentine operators. Port receipts for the crop year exceed last year by over 4000 casks despite production shortages elsewhere. The Treasury statement from Washington lists available funds at 0 and a gold reserve figure.
Chicago and New York trade shows a firm wheat market, led by Rosario plague rumors boosting May to 67c. Corn and oats rose slightly while provisions gained 2 to 5 cents as cash demand blocks limited business. Receipts and export clearances remain mixed amid cool winter conditions and strong river pool influence.
Spot dull markets across Chicago Cincinnati and New York show options inactive but steady. Quotations for flour and wheat mix No 2 red and yellow corn hold around 31 percent. January and July futures cited with modest shifts. Provisions in Atlanta and St Louis show clear ribs and cured hams steady. lard firm with prime steam at 9.62. dry salt meats mixed.
A dense list of January price quotes and market observations for groceries and farm goods. Entries cover coffee, sugar, salt, dairy, oats, crackers, dried fruit, poultry, potatoes, and turpentine with prices, quantities, and regional mentions such as New York New Orleans Savannah and Charleston. Several lines note market firmness or weakness and miscellaneous items include medicines and croup remedy references.
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