The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1907-05-13
COTTON
NEF21S 80

NEW YORK. May 12;1rhe v So, xosk
Ing. under the caption: o,,
VITA C syraad Areas As II in the south Have
iseen Replanted Because Of Damage
Il by Wet Weather
Talk OF Fifteen-Cent Cotton and Dol
lar Wheat Frightons wall ~, ,SITe =, 10
speculative enterprises, and It has p bee On
MANY. years since conditions nave
made the long side OF cotton ana
wheat ATTRACTIVE as T., they " s sae bro %
kers say that tho public Is coming INTO
these markets in all sections OF the
country, and that there IS more seHt.
eral interest in the price movements ,,e nthaS
Of these commodities than az any otl nci
time in recent years.
IN this connection. the hearing OF the
suit brought by Theodore r.. pice
against the New York Cotton Exon ,a1 e
to adopt higher standards for classi-
fying the staple will be watched with
greatly increased interest, not only
in this city, hut throughout the soutn;
While Mr.. Prices motives have been
questioned in somd quarters. there Is
a growing belief that ho has acted for
the best interests Of the New YORK
cotton trade. and that II ms , suit a 70
ward restoring to the New York insti- :
tuition its former prestige In the trade.
The effect on the litigation mas pcen
already to bring the cotton opt titr IN N
prices prevailing on tho southern en-
changes. A great majority Of the trade
agree with Mr.. Price that " 10 mex
plicable that a bale of mlddling cot
ton should be worth only ten and
half cents when delivered on q future
contract. and eleven and three q unrters
cents when delivered to the New Eng-
land spinners. Certainly. system is
at fault that puts q purely fictitio ..i
price upon future contracts. lis ditii-
cult to understand how the members
Of the Cotton Exchange can desire a
| continuance of such conditions.
The activity in the, cotton market,
week, is exceedingly gratifying to the
change many OF whom had commenced
to fear that their institution was boz
coming moribund and some of whom
had sold. or were attempting to SOL
| their seats. This feeling. which had
| resulted in a decline In the price OF
Cotton Ilxchnnge seats from $4,000 9
/ year ago to $4,000 or s1l 900 few
weeks ago. has in measure disap-
peared It Is stated that si ~ N,M y
4 York Cotton Exchange, and tina. none
are offered. Whether or not this ap.
i parent revulsion IN feeling is due Is
1 the activities or Theodore II, Price u
y question thAt is being vigorously de de
4 that his action III eniolning the, elias
! sihcation committee of the exchang'
4 against Improper CLASSIFICATION Of cot
ton. which at first excited the bitter
4 est resentment, Is now finding yer.
] much larger support than when tn
4 subject was primarily preached,
canvass among the members or IN
, exchange reveals the fact that q Yer ,,,:
y large minority, II not an actual major,
I ity, Of them arc now In sympathy WI
Mr., Prices campaign The idea TIM
his action was, taken entirely fror
i motives OF self-lnterest has become I
some extent dissipated. and Mr.. Prlc
:, himself says thar after AL the, auto
Imntic action Of an cnliEhtened selt
J. interest has effected many OF IN
greatest reforms
, lse'a'9''.'"' 7 ~ THEODORE III, PRICE