New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1910-04-30
COTTON Record BROKEN
sborts Make Heaviest 0ne-Oay
Delivery on Local Exchange.
UNLOAD 100000 BALES
p...en Not Made Point Of Attack
and Prices Jump as Bulls
Gobbie Staple.

HrQ EL4CCS % 49, y as ~ e--S
Gobbie Staple.
~, -.co-ss for tenders OF cotton on any
..-o-ire day" on the local Cotton FIX
- we're broken yesterday. when the
- +s-de-e6 10 the bulls 20o.ooe bales OF
-. Nav OPTION on contracts.
--,s accounted Tor virtually az the Ger
..s-r+ef cotton now II warehouses here
-,.r,,rr thousands OF bales ara on their
=, 70 this city from the South 20 be de-
.,,,,s-e6 on May contracts The cotton ten
- yesterday also represented. accord
,-r 70 calculations in the trade. about two
E .,.s-se o. the amount Of cotton purchased
A. +t-e bulls Tor delivery n May
.s PREDICTED by James A. Partcn. who g
.-esife5 with being the largest holder Of
,rsv contract among the bun leaders, the
~ -assed without special excitement
Although -lere was some bidding ID Of
--s-es pa-ricularly Nay and july. there
vs-e no indications OF g "sQueeze."
Tho oririon PREVAILED in vel Informed
circles -hat there would be enough cotton
- 60 around. and thar The shorts would
moi suffer so badly IS some people eX-
-s-te5 when j. canss time FOR them 70 set
ID ustk the bulls
-re mount OF cotton rendered ~. Pat
.a~ individually could not be harmed with
s-v fearitc1ess. as he declined 10 commit
bs--e-r on the subject All he would say
was t1a- he would have TO get ont his
check book on N0nday, as he was not
~s--v--r enough loose change pay Tor
the cotton that would De delivered 70 him
o. THAI day.
Feeling for Break.
20 vae -e0o--e5 IN cor-on circles that only
zr---t Ed Der cent ri The cotton rendered
u-ar- -- the buI leader. and that the bears
had centred t-etr tenders on The men whom
.tev tlca--- were not so well prepared TO
fake LID -Ee1- cotton. with the hope OF ind
t-r 81 weak spot and causing a break IN the
marked ar Patren seemed 10 be disaQ-
-~f--l5 az the end % the cav that more
co--r- had not been rendered 10 him
.rr-~ appear 20 have picked out The
--c- WHO they thought were not a. Wei
s-ra -o rzv cor -heir cotton as am he
sst-. "-l- haven't heard q anybody re
-,s.rr any NJ e." re added thai he eE-
-e-ted to ger tenders cf cotton al through
she month III May. the shorts having Until
t-r close 81 business on Nay 81 10 deliver
sra- cotton -nGer the contract
a-77r- the rrorrln er- Cotton Exchange
,o,-ses that served notice -f delivery on The
bulls were HAYDEN. stone d. Co.. Shearson.
r5a-uiu a. CO.. 1f-False1 Brothers, Hub
hard Brothers d. Co.. ~. r. craig q Co.,
DICK Brothers & Co.. Stephen ". Weld q
CO.. Hopkins. Dwight Ok CO. and z. d c.
Randolph.
rhe average ccst 70 rhe buyers OF thu
goo 600 bales rf cotton 20 be delivered on
1--u6z- is estimated a. SO = hale. which
v-.. involve a cash transaction OF approx
mattel s-4.1a-.1l1. The bun leaders. IL is
understood. have made al arrangements
f1r financing -le -emeur. and the calling
~ loans f1- vris purpose is what is said
ro have caused -le sharp advance IN cal
money rates ia tae last Few GAYS.
Bears FaH 70 Raid Market.
AZ the opening Of the market prices IN
t1e various options were from 70 IS
points higher than the preceding days
close. tle biggest gain being in The Nay
and July oprons. Heavy covering by
shorts VINO had enormously inquired on
breaking the market with -Leir heavy de-
lfverv notices. caused a further sharp up-
--rn tr prices rhar carried May 10 lz-a5. "a
gam Of 81 points. or s. - bale. The adj
vance was maintained Until near the close.
wren there was a slight reaction. cue 20
---l- taking 1y che bulls. -ne ana price
--- MAY being -4.76. a net gain % >
points. or s. 30 a bale for the day
This was Ear from coming Up 10 the eX-
-ae-ations iu certain quarters - what was
gong ro happen 20 the market Oh the irst
CAS- OF the May cotton settlement, toward
which the years commercial and speclila-
1--WE operations have been focusing. but X
carried OUT the predictions OF Air- Patten-
Il IS The alleged pool In the May option
i- which settlement is about 20 be mace.
shat -he government Is investigating ana
--a men who are reported 10 have organ
.-a5 g arc ar Patten. who. however. has
s-aaffzsrlv denied that be is acting with
.-,-t--,- o- -ha- ne is Interested in any
corner" and the other bun leaders "
b. r--u-- frank z Elayne ana Eugene p
Scales
pa-ter's Profits Enormous.
---e-. was a report yesterday that M.
--r-a- was a heavy buyer ot July ana DC
.--s- ----o-. and rhat the Big Four were
e~.-z go pursue the same tactics IN july
r..r were reported 4 have EMPLOYED IN
Nav NJ Par-en erlfhatically denied that
r. was engaged In such a movement t5e
sid ~ had NOT purchased one bale u new
---r cotton. and thar he had not bought =
= a 1f july FOR four weeks. All MS eI-
s---e Al -7~esenr- he ADDED. were directed 90
t4lllE care ct ms A-as Ho--N- e>-N -
Ia no idea % taking on new love De-
---e I1 was OF with -le old
IT, Pat-er laughed az "a -lrnor that he
Rad MADE sl4300 900 on his Nay deal but
D. admitted that ne had bought some Il
r.- cotton as l0w as eight and nine cents
q pound lie said also that he had sold
some cf II 20 Liverpool spiEners, but would
--- state az what price.
While AIr. Pacren was o-scusslng the cot
tr- situation, "a reporter asked him how ne
------a,-ag n-evg York and Chicago view
~-a- be rep led is TIE greatest city n
-.- world 7 an O. Westeruer, and ] nave
.. usual home r-1de. bur 7 tell ,ou bows,
s.a- r come 10 New York Chicago looks 70
ne IKE q village and am afraid when