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 11 16 ins. | 23⅜ | |
| Low Middling, 11 16 ins. | 20½ | |
| Middling to Strict Middling, 11 16 to 1⅛ ins. | 24¾ | |
| Memphis: | ||
| Strict Middling, full, 13 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. | |
| 11 16 ins. | 150 | 75 | 100 | 125 |
| 1⅛ ins. | 375 | 500 | 400 | 625 |
| 13 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.