The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-03-17
TRADING IN COTTON
CON TINUES DULL
Prices Fluctuate Within Moderate Range From Pre-
vious Saturday Closing Quotations General
Trade Situation
Trade Situation.

NEW YORK, March l6-Trading in
cotton contracts the past week con
tinucd dull and mostly professional
with prices nuctuating within a mod
crate ranSc from last Saturdays clos
ing quotations. From the prices oil
FL cents for July to II 3-S cents
FOR next October and December de-
liveries, there was a slump of TO s
points Monday, which brought May
down 10 li.15. Luly to 1857. and Oc-
,ober and December 10 li.2$. These
were the lowest for the week ana
within 10 10 - points of the previous
low level reached abou, month ago.
IN highest prices for the week
We're made yesterday when March went
mp 10 Ire. MAY 1875, July HISS, and
October ana December to HIS TINS
,Ntremc advance of Ia to 20 points
from The loves, prices on Monday is
a luctuation Of only - enls to 81
per bale. and denotes tho narrowness
Of The market ana the small outside or
trade speculative interest there il; in It
~ present. Prices reacted from yes
teroays highest on further scattered
liquidation and Southern selling, SO
that the closing quotation showed It
total net advance from last saturday
% bat I to 10 points for the week
The Months Range.
Tie closing price OF I225 for March
ana ll."l for MAY. against ll.S5 for
July, and ll.43 for October ana De
cembcr, i practically the same ns the
closing prices OF fortnight ago. ana
likewise OF three weeks ago and un-
changed FOR all The trading months
as c"ntrastcd with Just It nnon,h ago,
except that May and Julys closing
prices Of last night ale OF 20 points
from the closing quotations Of IebIu-
AIRY . Then March closed at l2."J,
May l2.l0. Iuly I2.CF. October ll.4I, and
December ii.i3. rhis shows how spec
ulative int"res, which Was SO greatly
extended al through the OPTION list
two months ago. has been steadily
going out Of The market Speculative
! holders Who accumulated large lines
OF contracts during The bullish activity
! III December and January on the al
vances 10 the l%-cent level in anticipa-
/ ton OF prices going TO I and = cents,
! have been steadily liquidatirg ana
. taking their losses while spot dealers
! nave been putting gu; fresh hedg.
sales against their holdings Of spo,
cotton
ON the other hand. other cotton fac
tors ana spot firms VINO were bearlsi
with the many Wall STREET. local anc
Memphis and New Orleans operators
and who sold cotton steadily al
through January and February tn an
ticipntinn OF the price going down &c
the ! l2-cent basis for this crop de
liveries and II cents for the new croy
months, have been covering thei,
shorts on all the soft spots during III,
past three weeks. This process OF al.
jnstment OF old speculative trades wa,
for the most part completed last week
and there has been little else but strad
die operations since then outside of IN.
In and out operations, which the pro
fessionai trading element have bcel
conducting on small scale
Evenly Balanced Conditiorx.
The market is again in a rut as tin
discussion Of statistics from the suppl,
and demand features on the v,d croI
fails 10 contain anything on which I,
| base new speculation. There is no in
duc"ment 10 load IN with either spo
cotton or contracts for future deliver
les Al present prices. There are to-
| many uncertainties III the t.utopna-
political and money aituatio, Thci
| There ~ the revision OF the tariff ais.
the annie supply to meet spinners' "a
Il Huiremen,s from the amount of lin,
: crop left unsold in the South. 20 in