The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-05-18
MORE ACTIVE TRADING
DURING WEEK IN COTTON
HILLS. After Futile Efforts to Arouse
Euthusinsn,. Responsible for
Developments.
CLOSE IS FIRM ON REACTION
TW" EARLY in ScnsOn for Any Real
ANXIETY to Tie Manifested Over start
or New Crop.


New York. May l6-Trading this
week WA below the large volumes OF
earlier in sho year, but there were
two or three days in which the trans-
actions went rs high as 10000 TO $50.
coo bales, against some OF tho recent
DUH days in which only 10000 10 3d.
eco were tho daily rccords. The local
and Sew orleans bulls, together Wits
those At Liverpool. who had previous
~ made many futile efforts To Wort.
;hc market up and arouse bullish trade
enthusiasm ana revive outside spccu-
Iation. were largely responsible for
This weeks Developments.
\ sudden cold wave in the West
worl.cd down into the cotton belt on
Monday following heavy rains over
Southern and Eastern Texas crop
scare was worked up on predictions
Of frost over North Texas. Okla
hCm1 and Arkansas. Prices were then
advanced about 30 points on the av
.rNsc. or over 81 per bale The frosts
predicted failed to mtt"rializc on We'd
ncSdaI, and then the bulls We're very
fortunate In having til. Census Bureau
com" 10 their aid by publishing IL much
more Favorable statement on the con
SUMPTION of cotton by American mills
FOR tho month Of April than any ono
had expected.
The Weeks Rise In PrIccs.
Tie maximum rise from last Sttur-
j:%'s week closing quotations Of 1l.52
Tor May to 1870 for July and 90 for
August was 4S points from May to -
on July AND - on August. with the
new crops months going up also 81 To
20 points. The high prices for the
wec'. We're reached shortly after the
opening OF tho market yesterday. Then
May contracts sold at - cents. July,
l@i9; August, 1890; October. 1l.9o:
december. ll.ol, and January. II s..
There prices were tho highest reached
this year by about 20 points for May.
but only for july and for tho
new crop months from the previous
highest quotations of about three
weeks ago.
The market reacted late yesterday
under some further profit making and
southern selling. and also some re-
deliveries OF cotton OF May contracts.
which had been taken UP by some
Of the local and Southern bulls on May
!. The support rendered. however.
was good enough to close the market
firu on this reaction. with prices with
in to 80 points of the TOP. ~ this
time last year. May cotton Was selling
at l1.lo, July. ll.50; August li.3O;
September. II cents; October. December
and January, 1855, ana March con-
tracts. II cents. Two years ago this
time, May. July. August and Septen-
hcH contracts ranged from ll..j TO
,l.4u. willie October December, Janu-
ar: and March deliveries ranged from
ll.i5 to 1852.
The New Crop Situation.
II is Htil much too early in the
new crop season for any real anxiety
10 nc manifested over the start of the
new crop. Planting Is never finished,
as "a general rule. over the belt before
tho middle of May, even IN an carly
season. II is not usually completed
over the extreme north"rly districts
until near the cnu Of May. The tr:t
Government crop report on the conui-
ton oi the plants, TO the average date
Of MaE -, does not appear until about
June ,. ANA the first official estimate
on the acreage is not rendered untn
o month latcr.
\ wet April to soften the ground
'.ttcr blowing ana furnish good s,or-
axe oil suhsoil moisture. followed by
only enough rain AZ intervals during
tho month O! May TO Keep the sur
facc In good condition and enable tho
early paintings TO come up Ia good
stands, nr. IDEAL conditions tor a rec
ord breaking acreage Most OF the cot
tnr states were favored with u wet
April after = good dea! OF rain nt in
tcrvals during the winter. Over 20
Per cent Of tn. crop has been planted.
d"al INST 80 iuNt year, ana about % Per
cent the pr, sous year.
Therefore. il is much too carly for
the spectators TO kill OF tho crop
before the season has really had {,
ch"nc" 10 get under way. IN order
t. promote :, bull movement in cotton
contracts or to broaden the trade de-
niauI for the balance of the old CROP
II has always been considered neccS-
snry 10 circulate alarming reports
about tho new crop getting q late ana
D:,d start"
Consumption and stocks.
The Census Bureaus report on tho
CONSUMPTION Of cotton announced
Thursday morning shows that 1897:
bales We're consumed by American
mills during the month OF April
GSainst about $4,000 in March as con-
tYasted with +1S.5G6 in April last ycnr
II also reported total stocks OF cotton
in manufacturing establishments AT
the end Of APRIL We're l.59j,7a2 ba.es
against l,S3S,0O0 at the end of Marcr,
ana l,G53,307 on April 80 last year. The
independent warehouse stock OF cotton
as OF april 80 is estimated at 3.g.-
oij bales, against l.340,s05 last year
Ot the latter. 1.l30.i2G bales are
held by warehouses located in the coz
ton growing States of the South
against 1.i40.1Si last year or Inc
total stock1 held 10y manufacturers.
cstiWated 1T 1,5?6,192, 720.1O0 bales are
( held by Southern mills, against 7.1.-
52i last ye:r ana sI5.692 bales by
Northern mills, against o3I.7S2 last
year. The figures on consumption are
| situated and arc up IN Tho dnt, -.