The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-04-30
GOING SOME" ON
COTTON EXCHANGE
Monday Deliveries, According
to Notice, Will Reach Values
of SIS, 1000.

NEW YORK, April 29.-This was
"notice day on the cotton exchange
and the financial world turned IFS at.
tcntion to the commodity mart to CLEAN
news Of the settlement of the reported
corner in May contracts in cotton.
Shorts III cotton giving "notices' to-
day will make their deliveries on Mon
day, but the final outcome Of the May
deal will not be known until the end
of May
According TO estimates shortly be
fore noon, the bears in the cotton mar
ket at that time had issued notices for
the delivery on Mondoy 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 OK
change. the record until today being
1000 bales, Today's transactions rep
resent money value of approximately
$l5,000,000.
There was some excitement on the
floor, but IL was seen carly in the trad
ing that the bulls were prepared to take
cotton as fast as il was delivered, and
after an initial upturn in May quota
tions the prices fell of,
Eugene n. Scales, one OF the ''big
ment are called, said that the bulls
would turn over every bale of cotton
delivered TO the spinners.
Not bale viii go to spetulators,
he said. "The gamblers will have to
look out for themselves,
Cotton has been piling mp for May
delivery for thirty days, including 90.
after they had been exported al loss.
it is said, Of 81 or 50 a bale. Large
shipments also were received from tho
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 TO accept delivery
of all the cotton rendered.
II was said that, in addition to the
bull leaders. outside interests were TAX
ing cotton on contract Two important
southern millmen arrived in New York
last night TO look after the details of
taking up 10000 bales, and it is re-
ported that of the cotton accepted this
morning AT least 10000 bales will be
shipped out as rapidly as possible to
southern manufacturers. II was also re.
ported in trade circles that about TO-,
600 bales were TO be shipped TO 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 up IN New
York. but inquiry among ocean freight
CARRYING companies showed that no
frcig ight room had yet been engaged for
such purpose.
1t is not believed that the notices
issued today, which win be followed by
actual delivery on May contracts, rep
resent all the cotton that will be deliv
cred TO the "big four. -
There is certifcated and ready for
delivery IN New York an amount Of
cotton somewhat in excess of today S
transactions. and cotton is still coming
in TO satisfy contracts held by the bull
party.
Prominent interests in the trade es.
innate that by the end of May at least
100000 bales Of cotton of value of
probably 22.O00,O0O viii have changed
hands in the New York market. There
are those who predict that if the bull
leaders are able TO find a ready demand
from spinners for all the cotton taken
during May they will require delivery
of fully as much more in July. They
are already heavily long Of July con
tracts. their interest in the aggregate
being fully 100000 bales.