The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-10-23
TRADING IN COTTON
MODERATELY ACTIVE
Market Shows Alternate Weakness and Strength
Closes at About Highest Point
of the w eek.

New York. October 22.-TradinE in
cotton has been moderately active
throughout the week. with Inc market
showing alternate weakness and
strength. From last Saturdays clos
ing quotations, which Were new low
record prices for the general option
list for nearly three years and nearly
) cents, or Sl5 per bale, lower than the
prices which prevailed just before the
now famous conference held at Mont
gomery to induce farmers to hold back
the crop and make the public believe
the crop was over 100000 bales small
CT than it really is, the market had ii
further decline early in the week of
twenty TO eight points. under the lead
of the October and December options.
This carried October down to $50 in
this market, December 9.05. January
S.93. and March 20 sos. against go and
80 Tor next May and July deliveries.
That low level induced such a large
amount of new buying by important
trade interests. and there was so much
further covering OF shorts. that the
market rallied later in the week. with
the market closing yesterday at about
the highest point of the week, a a net
advance of twelve TO twenty four
points under the lead of the late
months. The final prices last night
were: October 9.0S, December $50, jan
and 9.52 for the May and july options.
The Trades Better Feeling.
General sentiment in this market and
al New Orleans. as we'll as rather gen
orally throughout the South, continues
bearish. because 1t is believed the crop
iG likely to turn out about 5000, 600
bales. The heavy declines in prices
the last two or three weeks were really
caused by the continued heavy South
nr q n nd t1a tnr
the offerings of spot cotton than the
trade demand had been able to absorb.
During the last few days of this week
this pressure, however, has been slack
ening. There is now reason to believe
the low price, together with the advent
of cold weather throughout the belt,
with the probabilities of heavy damage
to the top crop in case killing frost
should occur within the next ten days.
has lately been inducing planters and
factors to hold back some of their cot
ton
b At the same time there has been a
better demand from European spinners
and domestic interests. as well as the
generality of spot dealers and cx-
porters. These featuses. with the proX-
unity of the frost period in the cotton
belt; have created steadier markets the
last few days and checked the pres
sure so pronounced during the demon
alizing breaks in prices l. week ago.
Whether this bett Il feeling will con-
tlnue and aid the bulls in rallying
prices the ensuing week will depend
largely upon the character of the
weather and how the trade will regard
the official report of the Census Bureau
on the ginning of the crop to October
is.
Next Weeks Census Ginning Report.
That report is due TO be announced
just before the opening of the mar
ket on Wednesday morning. 1t is ex-
pected to show in the neighborhood of
100000 bales, against the previous
record ginning of 6,il7.O00 bales for
that period in 1904. and the next larg-
est of G,296,o00 in 1905. as contrastcd
with 5,i2S.60o bales last year. Such
ginning figures are regarded as indi-
eating about 80 per cent. of the total
crop. and in this way the idea prevails
that the total crop will turn out about
100000 bales. At this time last year
the ginning of the crop represented
1863 per cent. of the total crop. against