The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1910-04-11

New York, April io--Thc cotton
4 markets were active last week. with
{ heavy trading and the sharpest and
\ most extensive fluctuations since the
exciting times of last January and
early March The decline, which be-
I gan early in the week. before, from
tho high level to which bulllsh activity
had forced May options TO the basis OF
1916 and 1i,a5 for July and 14.ei for
August and 1882 for October deliver
les continued until Tuesday, when
liquidation was finally completed. In
this decline prices suffered a loss OF
IL points on May and 103 on July.
about 40 on August and los points on
October. with May going as low as
1929. July 1892. August l3.4T and Oc-
tober 10 12,25 This low level. however.
proved so attractive to spinncrs and
trade interests here and on the other
side that enormous buying ensued. This
cleaned UP the market and paved the
way for fresh advance on renewed
speculative buying and bullish activity
Range of Prices.
From last Tuesdays low prices up
to the close OF business yesterday the
market had recovered so sharply as to
bring prices up ninety points on May
and seventy-two on July and about
sixty on August and forty on October.
, noon at 1889. July 14.G4, August 1912
and october 1865 The break in the
drought in Texas was made the basis
for the heavy general selling and
asllarp decline first noted, while cover
, ing shorts and rebuying by traders, as
we'll as the renewed aggressiveness of
the bull clique. accelerated the rally.
Thus the recovery, it will be noticed,
has been equally as rapid the last few
days as was the decline, and shows
the two sided condition OF the market.
The principal strength lately has been
in the nearby options of the old crop
deliveries.
Contest for Control.
The contest between the largest To-
cal trade interests and their allies at
Liverpool. as against the bullish atti-
ttde of the clique controlling total
stocks of cotton here at present and
operating for higher prices in all the
old crop options, is getting more inter-
esting. 1t promises to become more
strenuous as the time approaches for
the maturity of the May option and
transfer of the heavy speculative in
terest to July. The opponents of the
bull clique represent the most power
full trade interests and leading spot
dealers here and at Liverpool. They
are very rlCn III COIlulilsu IOIttS anu,
moreover. seem determined to con-
tinue their position otherwise they
certainly would not 80 to the heavy
expense OF bringing 10000 bales of
spot cotton here from Liverpool, in an
ticipation of deliveries on May con-
tracts. In addition to this amount it
is reported between $4,000 to 100000
bales are to be secured by these inter-
ests in the South for shipment here in
case of necessity. At least their friends
volunteer the information that If the
occasion warrants such proceedings the
present total contract stock of cotton
here OF 100000 bales will be increased
to 25O0OO before the time limit expires
for fulfilling deliveries on May options.
That would be about the last day of
May.
on the other hand the bull clique
is the same which was SO successful
in advancing prices to l6la cents for
May just before New Years. They
sold out great deal of their cotton
then and made a big scoop in the