The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1910-09-26

March advancing to over 1910. Tho
reaching of this level seemed to mark
ment. which had been in operation
against the shorts for the last three
weeks
With this interest pretty well re-
duced. the market developed weakness
as soon as the largest spot dealers and
some OF the leading bulls started to
resell and liquidate. Prices accord
ingly slumped IL to IA points during
Friday afternoon from the high prices
or the morning, and closed rather
weak on that basis, with October at
1926 December 1922. and January
1880 but IL to is points net advance
FOR the week over last SATURDAYS
prices.
Liquidation In September.
The September option has fluctuated
In very erratic manner this week.
and has disappointed those who had
been anticipating repetition OF the
violent advance. such as marked the
elimination Of the trading in the Au-
gust option. Just before its maturity
a month ago. September advanced
from 1865, last Saturdays price, to
1888 by Thursday afternoon. but Fri
day it broke sharply from Thursdays
closing price at 1888 to 1914, when
considerable liquidation developed of
rather forced character from scat
tering holders on the issuance of no.
ices for the tender of 5000 bales. It's
sharp break was entirely unexpected
by the trade, and it had much to do
with unsettling the market for the
rest or the list and causing the de-
cline In those options In the late trad
Ing yesterday.
IT had been supposed. with the con-
tract stock of cotton here having
tallen steadily from 10000 bales on
September I to only $4,000 bales on
thursday, no tenders would be made.
and, If so. all such cotton would be
promptly taken care Of by the bull
interests, and the price of the option
sustained against the scattering short
interest In It, Therefore, Fridays break
of 40 points In It's price was rather
dlsconcerting to the scattered follow
Ing of the bull interests 1t was as
much this feature which started lioui-
dation in the general list as the re-
newed heavy selling by the big spot
interests, who have been steadily
maintaining bearish attitude toward
the market since last May. Total con-
tract stocks have been increased up to
10000 bales But this is an insignia
cant total for the protection Of such
vast outstanding interest on both
sides of the market in the general list
from octobsr to next May contracts
as over 100000 bales.
Trade Sentiment Less Bulllsh.
The range OF prices here is stlll
below a profitable shipping parity
from the South. But this now seems
10 be about the only bull argument
lett TO sustain bullish sentiment, unless
the government crop report, due on Oc-
tober 3. should show an unusually
| heaVy deterioration for the month or
September from its last average condi-
ton of 72 per cent. for the whole belt
TO August 20, There is, however. stilI
a probability of heavy damage to the
crop from equlnoctial storms and kin
ing frosts occurring earlier than the
usual average date OF about Novem-
her /,
The movement OF the crop continues
under last years figures, so far since
the opening of the season, but the re-
| ceipts from plantations are steadily In
creasing, and the movement into sight
WIZ soon be SO much in excess OF spin
ners actual takings and sales for en-
| port that the visible supply viii he
showing large Increases with the mas
sage of each week. The total amoI,n+
OF the crop brought into sight tbis
week is about 100000 bales, against
about 225,o00 last week and ssooon
TINS week last year With spinners