The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1910-04-27
COTTON TRADE UNEASY.
n CRISIS PREDICTED THIS
WEEK.
Alabama Firms Failure, Federal In
VestigatiOn and Involved State of
Bear-Bull War Complicate Mat
ters.

New Orleans, April 24.-This week
the cotton trade will be called upon
to watch carefully several different
features of the season, any one of
which may have developments which
would cause important price charges.
First of all will come the Alabama
spot firm failure, the Knight, Yancey
q Co. affair. The trade on the week
end was rather uneasy over the
chance that other firms might be in.
volved seriously. The affairs of the
firm probably will reach such a state
In few days as to bring to a crisis
the affairs of another firm either on
this side or in Europe that has been
greatly weakened by it's losses in spot
transactions Anxiety will be felt un-
til this chance is out of the way.
Next will come the Federal grand
jury investigation in New York.
Many important commercial organi.
cations in the South as we'll as MANY
prominent business men have sent
requests that the motives of the in
vestigation and it's origin be revealed
to the public. Should this investiga-
ton come into more prominence the
market will take on a nervous tone.
The leading bulls exhibited great
activity towards the weekend. bid
ding for large lots Of nearly every
trading option on the boards This
the market took to mean that the
bulls felt they were strictly in the
right, both from a moral and legal
standard in their position and were
going to replace their passiveness
with a new and more aggressive pol
icy.
Last but not least in connection
with the old crop will be the first no.
tice day for May in the New York
market Many believe a huge num-
Der of notices will be issued, hut the
bulls are confident they will al, nc
stopped by the bull clique. The mar
let will hang breathless on this fea-
ture until it is out of the way TAX
ing all of these factors into consider
alton, it is altogether probable that
fresh trading in the old crop posi-
tions will be limited in volume this
week and that the transferring of
commitments from the near to the
later months will be much more in
evidence than heretofore.
Brokers are urging their clients to
sell their May cotton and buy July
instead. On July accounts they are
demanding SO a bale margin with
the idea of discouraging interest in
the old crop. 1t is easier to carry
new crop cotton and many old crop
traders will probably cross over into
the new crop.
The big things that have been hap
pening in the old crop have robbed
the news of much of interest that is
generally given it at this time The
week will open with reports from a
wide territory that has experienced
continuous cold weather over Sun
day and the course of prices will
hinge on whether the bears can con-
tinue to deaden the effect of such re-
ports by assurances that cotton is not
nj Co
urday showed that low temperatures
and considerable frost were due to
visit many sections of the belt where
for more than a week the tempera-
lures have been too low. Bulls call
ed attention to the fact, on the
Weekend, that price movements are
ing delayed by manipulation. Should
cold weather continue very far into
the week, the bulls will undoubtedly
attempt their first coup in the new
crop months.
Any improvements in weather con-
dition will encourage bears to carry
on more aggressively their campaign
for fall in the price Of new crop
cotton. Leading circular writer's on
the short side of the market claim
that good weather from now until
the middle of May, which would en-
able farmers to chop all new cotton
out. would result in q decline of at
least a cent a pound on October and
December.