The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1910-07-11

reached for the week Friday after
noon, with the general list then CLOS
ing with net advance of 10 to Is
points over the previous Fridays
closing, with July at 1916, Angus,
H.s5, September 1916, October 1885,
and December 1888.
The old-crop options continue in a
very strong position But for the
governments suit in behalf of the bear
clique against the position of the bull
pool frightening off outside specula-
ton. they would undoubtedly be show
Ing better response to the exigen-
cies of the speculative situation and
the exceedingly strong statistical po-
sition. AS II is. they are now not
far from the highest prices for July
and August deliveries reached since
the recovery from the collapse from
the prices aof l6 cents established for
May contracts in the boom at the
close of last December The situation
is an extremely interesting one. There
is a short interest variousIy estimated
as upwards of 100000 to 100000 bales
in July and August contracts out
standing, partly as outright short
sales by Wall Street and local opera
tors and partly by spot dealers in
hedge sales and straddiers between
this and the Liverpool market.
The Speculative Situation.
Most of these sales are held by
other large Wall Street operators and
the so-called bull pool. and the
balance yspinning interests and Mem
The Patten following has little or no
tract stock of cotton here Is now less
than $4,000, nearly all Of which is
owned by the bull leaders. OF this
amount. 10000 bales are shortly to be
shipped to Liverpool and Bremen. The
stock of contract grade al New Or
leans is less than $4,000, most of
which is also owned by the bulls Most
of the old bear clique has gone to
Liverpool and has been operating
lately from that point 1t has been
said they are arranging to bring an
other lot of 10000 bales here from
there to make good their deliveries
But so far no more than 1000 bales
have been engaged for shipment On
the other hand, there is still little
cotton pointing this way from the
South, owing to the lack of induce
ments offered in the PARTIES between
prices here and what are offered on
the Southern markets and the heavy
over Is cents for July and August are
still quite within the range of pos
sibilites before those options expire,
despite the heavy curtailment OF spin
ners" consumption.
Still Hope for Good Crop.
The fact that there has been too
much rain in the eastern and central
part of the belt the past three weeks,
and not enough in Western and North
ern Texas during the sane period, Is
causing The belief that the crop on
the whole is not progressing well
enough TO maintain the good prospects
for a large crop which existed up to
the middle of June
Then the prospects were good
enough in all sections to have held out
promise 5or prospective crop OF
over 100000 with favorable weather
on the average the balance Of the sea
son. There seems. however. to be no
real basis as yet for any alarm from
| the present conditions of too much
| moisture in the ceatral and eastern
/ half of the belt 1t is rarely that
| a short crop results from too much
moisture during June or to the flrst
half of July, The worst such condi-
| tions car do is 10 make The crops
/ grassy and cause rank growth for
1 time, and prevent the proper develop
! ment of the plants.
! Usually at the time there is a how
about dry and hot weather Such con
| dltious cause more damag e to the crol
during its fruiting stage than tos