The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-04-11
THE COTTON MARKET.
May the Trump Card-Surprises Bears
-Bullish Cables-StronG n Higher
-SDOt

FOpO FIei hCto-
May was the trump card played at q moment
when the bears least expected IL. 1t trebled
It's premium over July as compared with that
OF Saturday. The first move was In Liver
pool. where the market W as marked UP sharply.
Tradition In the shape OF private cables '
put the buying there down to Egypt. Egypt's
shoulders are broad and are saddled with a
good deal OF Liverpool's trading. 1t goes
without saying that much OF the buying
there was by not a few attributed rather to
New York than to Alexandria.
However this may be. buying by some
body on the other side Of the water had q
distinct effect on Liverpool. and 1t Ii quite
as certain that Iiverpool's undoinR of strad-
dies here by buying May was also a note
worthy feature, SO IL appears was the buy
ing OF MAY PE sp3t interests. lnciHdlns. -
mates for Galveston and Houston were small.
spot markets. were strong and higher. with a
good demand reported on both sides OF the
water, and the bulls are more than ever con-
WINGED that the requirements. not only for
this season, but the next will be enormous.
On the, rise leading bulls are supposed to
bought in the last hour. The Southern plant
Ing = and life factor nsrt interests te were selling the s6 NEXT
short of May were buying 1t here on a liberal
scale, The New Orleans estimate for to-day
was large and a good, many commission
Meantime 1t Is largely a professional market.
though some houses begin to notice rather
more interest on the part Of the outside public.
being a factor In the speculation. To all ap-
pearance it is a campaign by some well known
terests and operators in the South and Europe
supposed TO hay We been caught. short of May.
,: $; Baohe 4 60; said In favor Of the
ment continues to be. the thoroughly. reliable
iniernation received from both domestic
the latter. during the last week. to the effect
that, the unprecedented demand for the
snd,md,I ITodu "f u ThiSh .t has prevented re s1s, any
and is so persistent that i can reasonably
the remainder Of this year at least. The
bears are practically without an argument
Of c~onSeauence. the trend Of events ,favors
may not make joyful Easter holidays for I'm.
Messrs., McFadden. Shearson, Howard VIII
were buyers. Messrs Sorden. Ware and wire
ported to have, sold but only on a scale UP.
Atwood Violet Il Co. said There was a
good demand for cotton, all offerings being
steadily absorbed, among the buyers being
buyers Of all active options. both near and
May cotton. thus causing that option
to regain the full premium over July that il
held ten days ago. Good judges of the mar
e .uhlct llu NOlNoI. rs SUSTAINING us value
on Its own merits. and the strength shown is
due to statistical conditions entirely, the spec
.ulative end at present being secondary.
Later, however. when it Is fully apparent to
all that the supply cannot equal the mills re-
quirements. there will be a renewal of the
fever of two and three years ago,
IN consequence of the extremely bullieh con.
ditions which seem TO us likely TO develop In a
very pronounced way In the near future"
Cotton on the spot advanced 10 points,
II, SOC against &. lose. last year New
sales. The receipts were as follows: