The Sentinel=record., 1911-03-11
COTTON OUTLOOK
 IS IMPROVING
BULL ELEMENT SEES INCREASE D DEMAND AND SHORT VISIBLE
 SUPPLY.
Massina Of Troops on Mexican Fron. tier Predicted as Disturbing Ele-
 ment In Trade

New York. March 10-Though in the fore part of the week prices of cotton gave way they have latteriy recovered. mainly because of the re cent cyerdoing of the short side.
 The short interest in October had become especially large and not wave in Texas the other day led many of these shorts to cover with a preci- pitatnney that resulted in shanp ad- vance. Bulls postulate higher prices in the belief that every bale available will be wanted before the end of tho season and that August 31 will see a visible supply in the country nearly a aalf million bales smaller than at the same time last year, no matter what complaints may be made about trade now or in the meantime.
 Lancashire, fer that matter, is re- porting rather better business; sill yer has advanced in I4nndpn: the Bank of England has reduced it's rate of discou mt to per cent and Man chester spinners have latterly been cabling freely for cottoon. The move ffment of India crop to Bombay con- |tinues light; the certificated stock here is fast disappearing and most of it, it Is said, will be exported in the not very distant future, and 1t Is re |. marked that when futures decline here the spot markets at the south show firmness which is not a little ldisconcerting to those who think that the general trend of prices must be downward. lSpinners' takings make a good exhibit and the week-e statis- tics promise to be bullish, in the esti- mation of any for weeks to come.
 Meantime. powerful interests appear to be very bullish on May and Octo- Der, even if they are short of July and August. A leading mining man is still a bull; a large Texas operator who has been here year is as firm as ever in his adherence to the bull side. Large spot merchants are be- lieved to be strongly of the opinion that the May option is destined 10 reach much higher prices; spinners arc buying to some extent and Che ex ports thus far this season are about 1,750,000 bales larger than during T like period last season. At the same time many believe the crop is not more than 1.5000o0 bales larger than the last one, if it Is that. There are those indeed, who think that the final ginning report on March 20 will re veal a crop this season not much over ll75O,00o bales of spinnable cotton Considerable stress is laid on ethis contention. On the other hand trade for the most part is dull. spot mar kets seem sluggish, yarns are de- pressed, some mills in Georgia and the Carolinas of late have been re- porting in an embas rassed condition: the failure of a cotton firm in Bar ce'ona, Spain. for $200,0O0, was re lrorted the other day. the calling of an extra session of congress for April I is more or less of a disturing factor in the opinion of some since it may cause more or less interruption to trade and afford new opportunity fer anti-option legisfation. The mass ing of 10000 troops on the Mexican frontier is also cited as a possible dis turbing factor. Now and then some of the big bulls have apparently been free sellers on bulges. The general tone of late, however, has been more encouraging to tae believers in high CT prices.