The Birmingham age-herald., 1909-04-17
COTTON TRADING
 IS VERY EXCITED Revival In Speculation Has Come With Great Rush MILLS OF WORLD ARE BUSY Market Is Nervous and Unsettled for the Day and After an Early De-
 cline Prices Stay Down on
 Lack of Support.
MILLS OF WORLD ARE BUSY

New York, April 16-Not for some years has speculation in cotton been so excited or advances In prices so violent as they have been this week. Drouth in Texas has been the primary cause. The crop in that state, it is believed is go- ing to be late. To fight boil weevil sue cessfully early planting is necessary and the concensus is that the season in Texas is some weeks late. A bad sea son there may mean a difference in the crop of 1500 900 bales. That with a big consumption may mean all the diff ference between a comparatively low price and a very high price. Time must determine the event But just now operators not only in this country but in Liverpool are buying freely in assumption that the next crop is not go- ing to be equal to the worlds require ments The mills of the world are all busy and the number of spindles never was so large. Trade is improving, not only in the west but also here in the east, as well as in Egypt and on the continent. English bears have been en- deavoring to convince people in this
 
 in Lancashire but the truth seems to be that things are noticeably picking up at Manchester. Similar favorable re- ports come from Germany, France and Italy. Fall Rivers recent business Is the best for some time past.
 The present crop is believed to in- clude half a million bales of linters. If that is so, 1t would cut down the crop of merchantable cotton to about 13,00o,- 900 bales. It is assumed that a. yield during the coming season of at least 13,500,00O bales is imperatively de- manded, but if the reports from Texas Fare true and the gloomy prognostica- tions from that state are verified, 1t hardly seems possible at the moment at least for the south to raise crop of the required size.
 The market was nervous and unset tied today with prices reacting after the recent sensational advance. The close was steady in tone but at a net decline of IA to IT points,
 The market opened steady at un- changed prices to decline of points in response to disappointing cables and  soon sold off to a net decline of 13 to 17 points under heavy realizing and operations for a reaction which were encouraged by easier late cables, re- ports that the interior had been selling spots very freely in advance, and the absence of aggressive support from bull leaders. There was pretty good buying on a scale down and during the early afternoon prices rallied sev- eral points from the bottom, but did not get closer than or points of last nights closing, and the market later weakened again under selling by early buyers who were disappointed over the absence of increased support from the bull leaders, which they had expected in time to influence the Liverpool mar ket tomorrow. Prices closed at prac- tically the lowest point. Southern spot markets officially reported early were unchanged to 1s c higher.
 Receipts at the ports today, 21,744 bales, against 16,292 last week and 900S last year. For the week, 120,000 bales against 91, GOA last week. and 71,514 last year. Todays receipts at New Orleans 5122, against 297S last year and at Houston, 30S5 bales, against 174s last