The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-04-18
THE COTTON MARKET.
A Strong Though Quiet Speculation spo
situation the Sheet Anchor.

Although Their was no great stir in the
trading, II was very evident that the market
had underlying strength which gave room
traders a pause. A while back they were
very ready to sell the market on all rallies.
but they are beginning to think twice be-
fore they adopt such tactics now.
Bull interests are manipulating the market
on both sides of the water. but many attach
more importance to the frmness OF the spot
situation, the activity Of trade and the numer.
Gus indications of a large consumption and
Of the fact that q big crop will be needed 10
prevent the visible supplies from falling to 9
dan gerously low stage. Liverpool and wan
Street houses were buying. and room traders
also liauidated short contracts. spot houses
were understood to be buying: .,.oo,.
The market presents a slngular spectacle
Of strength which does not attract outside
speculation, but which does attract inside
ming trade. In all probability the. outside
public will not come. into the market unless
there are some serious thn .t adye dT unf dey nrices
have reached a much higher stage or there
is some other occurrence 70 rivet public at
tefBs aTtie 4R 'q Fra S : and mdf' Darlington said:
The situation remains 2IIaotlcaliy the sam
az before the holiday; the he, goo or a, weas1ea an N
is undoubtedly leading to selling OF, the new
crop months on hard spots on the other hand,
changes. the frmness OF the, spot situation
and reports Of a big business in cotton cloths
and In the belief that these factors Will mann
tain. prices in the face of increased acreage
until some unfavorahle turn in weather &C.
counts, comes to their assistance The ftrst
TEMPORARY sentiment will be the acreage
estimates next month. The South has un-
doubtedly sold largely on The expectatlon Of a
reports have favored, and in this way 1t Is
possible that, a considerable increase mas al
G re tbs f 2esn thai alsG ( Is not th ea area bat the en- grow raew
ing season which makes the CROP, We grant
TO the bear side Of the question that there Is
barring manipulative influences. old crop
positions should be worth less than the new
further. that the hue ana cry OF scarcity ias OF
than real but the constantly Increasing spin
dies of the world are running full time, selling
year. and until a yield from the next crop
OF at least II, 100000 bales appears, assured
there can I've no confidence on the short side
McFadden. Mitchell CARPENTER and ElllnFerf
Held, Hubbard. Ray and siedenburs were
sellers.
weather accounts restrict buying of the new
crop months and there was no fresh news
to induce aggressive operations for either
h mmediatc T fntnre 'T pTiees S viii be- m sae. by ~ the
holders Of May contracts. as they reason that
II the cotton is taken up 4 will cause a scramble
actual eS cotton is not received the bears viii
again be in control until unfavorable crop
reports are received. as the sentiment is gen.
eral that with favorable. weather another
bumper crop will be raised. Judging by in
formation from consumers, We believe there
is more logic in the belief that the next crop
will 90 into consumption at a value above
rather than below 10 cents"
Cotton on the spot advanced 10 points.
Middling. II ,aoc.. against 1850. last year;
New Orleans and Gulf, 12.15c.,. against s.I0c,
Sales. so bales for spinning and 100 delivered
on contracts. The Southern spot markets
were unchanged TO &c. higher.
The receipts were as follows: