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Newspaper
Atlanta Constitution
Location
Atlanta, Georgia, United States of America
Date
Jun 28, 1910
Page
3
New York cotton markets opened with declines on lower Liverpool cables and reports of mill closures in Lancashire. Despite early losses, prices steadied, closing about 2 points lower on the active months as spot demand and hedging supported futures. receipts at New Orleans and Houston were modest, with July notice day upcoming.
New Orleans cotton prices show quiet sales with bids around 5.10 to 15-16 for various grades like low ordinary to good middling. Futures opened lower by 6 to 11 points on old crop months while cables warned of mill failures in England. Weather offered mixed signals but rains over Sunday helped some belts, with midmorning trading steady before a late session slight declines.
New York June 37 stock market shows broad weakness amid rumors of J P Morgan illness and supposed market maneuvers. Analysts note lower prices with sizable losses in Union Pacific Reading and Chesapeake and Ohio while rails and foreign exchange exhibit mixed signals.
For twenty four hours ending July 27 at 75th meridian time showers scattered across the south, with large portions of Texas Louisiana Minnesota and Georgia reporting activity. Temperatures stay high in affected areas. Amite New Orleans Biscuit brands noted.
Wheat futures surged as traders priced rising demand and expected rains scarce in the spring belt. Prices moved higher despite profit taking, with September near 9 1/2, and cash wheat showing strength while corn and oats lagged on favorable rains.
Liverpool cotton markets show prices 8 points lower with mixed grades and daily turnover of 8,000 bales including 2,706 American. Receipts total 100 bales all American, futures opening steady and closing easy. Dry goods markets in New York stay steady on a moderate hand to mouth scale, while Dallas Texas crop outlook softens market sentiment.
Kansas City and New York reports show wheat and corn futures mixed with declines in corn futures and stronger wheat. Cash wheat No 2 and No 3 red hold near 98¢ to $1.06, with No 7 red spot firm at $1.07. Corn No 2 mixed 61 61%c, No 2 white around 36 38c, oats steady. Cotton closed up modestly after a small advance.
Train service details mention New York arrival at 3:45 with connections via Richmond and Washington. Seaboard routes referenced along with a directional note to Dina care neorvice and Billy Tiewer at 48 Peachtree.
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