The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-05-22
MARKET is ACTIVE
THROUGHOUT WEEK
Cotton Goes to New High Price Records-Va.
rious Phases Of speculation-Grea Acreage
Has Been Planted.

New York, May 1.-THE market was
active throughout the week. with prices
for all options. including the new as
well as The old crop deliveries, maxi
ing new high records. The new crop
options made a maximum advance OF
50 points on October. December and
January deliveries. and about Is on
September. from last saturdays clos
ing. September advanced to 1885. Dc
tober 1881. December 1877 and jan
uary 1926 by Thursday, on rather sem
cral covering OF shorts and new buying
by trade interests. Yesterday, how
ever. a reactionary movement set in
which wiped out all but 10 points OF
this gain for most OF these deliveries.
In the old crop months May advanced
&c points to the basis Of l6 cents,
while July went up % points to the
basis OF 1918 for that month, and
August advanced S points 10 the basis
of 1885. August lost all OF this rise
and declined 10 points besides in yes
terday's proht-takins. movement. but
May and July closed last night within
a few p ints Of their highest. record.
Southern spot markets have continued
to rule strong, and show a scarcity of
even-running grades OF good white
cotton to any extent IN offers from
holders, Al Liverpool the markets for
spots and futures have shown equal
strength and activity. with tho high
est price for the season and the cal
endar year also having been cstab-
lished there.
Cause Of the Rise.
During the closing week in March,
when sentiment was so bearish on all
commodities, mainly from the influence
of the heavy decline in wheat from
= 4 IF - NF-.-I - c
too heavy and general short selling
unduly depressed cotton for the legiti-
mate supply and demand conditions.
Then the price was driven down from Is
cents 10 II cents for the May and
July options, and Is Ia cents for Au-
gust. There Yves q contract stock OF
cotton here of about 100000 bales early
IN February, and there were nearls- A.
ooo.00o bales then in the total stocks a
sll the United States ports, and over
100000 bales IN the Interior stocks al
the counted towns. BY April / the
market. However, began to turn from
!ts heavily oversold condition. chiefly
on the his trade demand from Euro
pean and Confidential ~spinners and spot
dealers. who have since absorbed the
largest percentage OF II crop for the
season 70 date for the total yield of
any IN recent years on their much
better trade situation and outlook than
IN this country.
BY May i total contract stocks had
got down to 10000 bales in this mar
ket. while Tho total stocks Of cotton
at. all the United States ports had
dropped to 427,ooo bales from 100000
bales on February / and 7l1,ooo on
March l and $4,000 on April /. At
present thereli Is a total stock at al, the
United States ports of only Sso,ono
bales, including q total stock Of only
1ol, 900 bales at New York. while the
total stock of cotton at ell the counted
towns in the Interior Is only 164.0Oo
bales In excess OF September /. The
total export from September ! to date
approximate 100000 bales, against
$4,000 last year, from a total crop
movement into sight so far for the
season OF ll,S64.ooo bales OF the l2.-
900 600 estimated OF commercial bales
as the production for the season, IT
has been this heavy shrinka ge in
available supplies since March in mis-
country. With the visible supply of
American cotton In the world today