Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1910-04-29
NOTICE DAY ON
COTTON EXCHANGE
Bears Issued Notices for Delivery
On Monday Of 100000 Bales
On May Contracts.
RED LETTER DAY IN HISTORY
More Than Double Amount OF Trans
actions on ANY Previous Day in
y. V. Cotton Exchange.

New York. April 29.-This was 'n9-
tce day" on the cotton exchange and
the financial world turned its attention
90 the commodity mart to CLEAN nows
of the settlement OF the reported "cor-
ner" In May contracts IN cotton. Shorts
iu cotton giving notices today VIII
make their deliveries on Monday but
the final outcome Of the May deal viii
not be known until the end OF May.
According TO estimates shortly be-
fore noon the bears In the cotton mar
ket al that time had issued notices for
the delivery on Monday Of 100000 bales
of cotton on May contracts. This Is
more than double the amount Of trans
actions on any previous day In the
history Of the New York cotton eX-
change. the record until today being
$1,000 bales. Today's transactions rep
resent a money value Of approximately
$4,000. 900
There was some excitement on the
foor but il was seen early In the trad
ing that the bulls were prepared 10
take cotton as fast as IL was delivered
and after an initial upturn in May
quotations the prices fell OF.
Eugene y. Scales. one OF the "big
four" as the leaders ia She bull move
ment are called. said that the bulls
would turn over every bale of cotton
delivered TO the splnners
NONE TO SPECULATION.
Not a bale will go 10 spectators"
he said. THE gamblers will have to
look out for themselves"
Cotton has been piling up for May
delivery for thirty days, including So
600 bales brought back from Liverpool
after they had been exported at a loss
IL is said, OF 81 or s. a bale. Large
shipments also were received from the
south The notices issued today caused
no further liquidation in May, Suggest
ing that the bull leaders and the other
interests remaining long OF that month
were fully prepared 70 accept delivery
Of all the cotton rendered
IL was said that in addition to the
bull leaders outside interests were
taking cotton on contract Two inn
portant southern mill men arrived in
New York last night TO look after the
details OF taking up 10000 bales. and
II Is reported OF the cotton accepted
this morning at least 40. 900 bales win
be shipped out as rapidly as possible
to southern manufacturers. It was
also reported in trade circles that about
10000 bales was 10 he shipped 10 Fall
River. Private cables received here
some time ago stated that the south
ern bull leaders had found an outlet
on the continent for some OF the cot
ton they intended to take IN In New
York. but inquiry among ocean freight
carrying companies showed that no
freight room had yet been engaged for
such purpose.
BIG FOUR"
II Is not believed that the notices
issued today which will be followed
by actual delivery on May contracts
represent all the cotton that win be
delivered 10 the big four"
There IL certhcated and ready for
delivery In New York an amount OF
cotton somewhat I'm excess Of today's
transactions and cotton is still com
ing in 10 satisfy contracts held by the
bull party
Prominent interests In the trade esti-
mate that by the end OF May at least
100000 bales Of cotton Of a value OF
probably S22.0O0,0O0. win have changed
hands In the New York market There
are those who predict that II the bull
leaders are able 20 sud ready de-
mand from suinncrr fnv OH the cotton
taken during Nav t'rv WIN roouiro 1a-
livery NJ fully ne ..r.N a1ora In Tulv.
They are already '-r..'f- lowe M ru'v
contracts. thai~ t.'.-... io the 9qpre-
rate rriuc ruIlv 500 7H' b,log.