The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1910-04-04
STRENGTH IS SHOWN
AFTER THE HOLIDAYS
Tn Latter Part of Week May Cotton Takes Slump.
There Is Improved Outlook for
New Crop.

New York, April 3.-The market was
s,ronr on the resumption of business
on Monday after the Easter hohdaSS
rms strength was continued UP tc
Wednesday morning with prices max
ing the highest reached since the big
break in January, when May cottor
slumped from 1916 TO 1880. on lhe
high level of early this week May SOLO
AT 1916 July 1895. August ii46 Sep
ttmber 1855, october 1889 and De-
cember 1916. All options from Angus
deliveries represent trades MADE IN
Tho new crop. which season begins on
September l. These hiSh prices W.
reached on the continuation OF the
run movement of the last fortnight,
chiefly on the dry weather of last
month in Texas exciting apprehension
regarding the start of the new crop
I'm that state The occurrence OF rains
"Wednesday morning, and the break IN
the. drought rather generally all over
the state Thursday, produced liahda-
ton in such a heavy volume mat the
market broke sharply that afternoon
and made a still further sharp pfeah
Friday This extended to between 20
and so poIna. from, the high prices of
late Tuesaav "a 4erfioon to the lowest
OF Friday night. About the only sup
mort of this sharp reaction came from
me leading bun interests, but this
was not strong enough to hold the
marker. The decline carried the May
eoption down to 1852 just before the
close Friday, while July SOLD az l4.oV'
August 400, September l3.2o, OCTOBER
1e.73 and December 1851 The low
nrtces were made by stop-loss oFoefs
or cotton bought during Inc rise Oh
,na mast fortnight and renewed South
SnOt markets
have been duh throughout the week,
With prices declining about | cent
Inc last three DAYS.
Improved Outlool> for the New Crop.
The breaking Of the drought In
Texas has come at tho most oppor-
tune time. IT has saved the crop there
from getting a poor and late start.
especially throughout the central and
southwestern portion of that great
state which has a cotton producing
urea of nearly 1o,oo0,ooo acres, or
about IS per cent. of the total In the
entire cotton belt Only about 10 per
cent. OF the crop has been planted
there thus far as the average date OF
planting for the state ranges between
April 10 and April Is. Planting opera
tions which had been delayed the last
week or two by the dry weather and
fears OF scarcity OF seed, should re-
planting be necessary, Will now be
rapidly pushed as the soil is in better
condition at present for such opera
tions than AT any time in the past
month Recently sown fields which
had shown lack of termination will
NOW develop this process from the
soaking in of The rains, and the plants
In the extreme southwestern portion
from Galveston TO Houston and thence
To Corpus Christi and San Antonio,
should develop better stands and color.
Further rains OF one or two inches all
over The State, are. however, necessary
TO give the crop as a whole the good
start necessary TO lay tine foundations
for good crop. After that a con
tinuance Of hne growing weather OF
an unbroken period up TO the end OF
June Win be required to make the
outlook favorable for a large crop
Elsewhere in the cotton belt conditions
are gencraly favorable except that
rains arc needed for TOP soil in
Arkansas and parts OF Mississippi and
Alabama, Oklahoma and Tennessee.
Local Speculative Conditions.
Total contract stocks of cotton now
At this port are up TO $4,000 bales,
against $4,000 ten days ago, and 100,
600 on March !, and 1900 last yesr.
This increase the past week has been
due TO cotton coming here on con-
siEnmeut from Southern pointG for
spot dealers 70 increase their protec-
tiou on straddIe operations and hedge
sales against the eNigeneies OF the
speculative position Of the bull clique