Markets.
Inspected cotton, Government classed, in warehouses at the ports of New
York and New Orleans on July 28, 1922, and on the corresponding day in
1921, of the grades tenderable on future contracts made on the exchanges
in these markets subject to section 5 of the United States cotton
futures act, as amended:
──────────────────────────────┬───────────────────┬───────────────────
Grade. │ New York. │ New Orleans.
──────────────────────────────┼─────────┬─────────┼─────────┬─────────
│ 1922 │ 1921 │ 1922 │ 1921
──────────────────────────────┼─────────┼─────────┼─────────┼─────────
│_Bales._ │_Bales._ │_Bales._ │_Bales._
Middling Fair │ 10│ │ │ 3
Strict Good Middling │ 812│ 239│ 89│ 290
Good Middling │ 9,155│ 4,531│ 295│ 3,532
Strict Middling │ 31,539│ 20,766│ 1,373│ 21,618
Middling │ 46,874│ 51,498│ 4,418│ 34,835
Strict Low Middling │ 25,588│ 43,045│ 3,052│ 19,408
Low Middling │ 4,475│ 10,590│ 368│ 7,264
Good Middling Yellow Tinged │ 3,941│ 4,518│ 665│ 3,130
Strict Middling Yellow Tinged │ 2,134│ 3,630│ 596│ 3,087
Good Middling Yellow Stained │ 21│ 35│ 3│ 4
──────────────────────────────┼─────────┼─────────┼─────────┼─────────
Total │ 124,549│ 138,852│ 10,859│ 93,171
──────────────────────────────┴─────────┴─────────┴─────────┴─────────
Total stocks of cotton, all kinds, on July 28 at the port of New York
were 150,889 bales, and for the corresponding day in 1921, 156,141
bales; at the port of New Orleans 98,090 bales, and for the
corresponding day in 1921, 421,349 bales.
Premium Staple Cotton.
A poor demand for premium staple cotton was reported at New Orleans and
a limited demand with light offerings at Memphis. Some of the sales
reported in these two markets during the week were as follows:
New Orleans: Cents.
Middling to Strict Middling, 1 to 1–1/16 ins. 23⅜
Low Middling, 1–1/16 ins. 20½
Middling to Strict Middling, 1–1/16 to 1⅛ ins. 24¾
Memphis:
Strict Middling, full, 1–3/16 to 1¼ ins. 32
The average premiums quoted in the New Orleans and Memphis markets for
the staple lengths specified are stated below for Middling cotton based
on Middling short-staple cotton at 21½¢ per lb. at New Orleans and 22½¢
at Memphis on July 29, 1922, and 11¢ per lb. at New Orleans and 10¾¢ at
Memphis on July 30, 1921.
────────────┬─────────────────────┬─────────────────────
Length. │ New Orleans. │ Memphis.
────────────┼──────────┬──────────┼──────────┬──────────
│ 1922 │ 1921 │ 1922 │ 1921
────────────┼──────────┼──────────┼──────────┼──────────
│_Points._ │_Points._ │_Points._ │_Points._
1–1/16 ins. │ 150│ 75│ 100│ 125
1⅛ ins. │ 375│ 500│ 400│ 625
1–3/16 ins. │ 550│ 800│ 700│ 925
1¼ ins. │ 800│ 1,100│ 1,000│ 1,125
────────────┴──────────┴──────────┴──────────┴──────────
Quotations reported on July 28 for Pima American-Egyptian cotton f. o.
b. New England mill points were as follows: No. 1 grade, 38½¢ per lb.;
No. 2, 36½¢; No. 3, 34½¢. A year ago Pima cotton on the same terms was
quoted at 33¢ per lb. for No. 2 and No. 3 grades.