The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-05-15
Bullish Figures on April Tex.
tile Activity Cause New
High Levels.
EARLY OUTLOOK FOR CROP
Texas situation About the Only
lnfavOrable Feature
at Present.


Yor North Carolina aud South Carolina
cloudy to-day; probably showers on tn,
coast fair tomorrow: moderate east I,
north winds.
rs Georgia. fair to-day and tomorrow
cooler in northeast portion to-day; light q
moderate variable Winds.
For Alabama and Mississippi. fair to day
snd tomorrow. moderate north winds
For Louisiana, fair to-day: cloudy to-
morrow, moderate northeast and east winds
For eastern Texas. cloudy to-day AND
tomorrow; probably showers tomorrow
moderate east winds.
For western Texas local rains to-day;
~srmer In the Panhandle. cloudy and
warmer tomorrow.
For Oklahoma, cloudy To-day; probably
followed by showers at night and tomorrow
For Arkansas. partly cloudy to-day; IN.
settled, probably showers. tomorrow.
New high levels for tho present up
ward movement were registered in cot
ton yesterday for every option on the
list except July and August. May WAS
PARTICULARLY strong and ran up to 1891.
or "a points above Thursdays closing,
on buying which was set down chiefly to
Continental shorts. The volume of trad
.nz in this option WAS not heavy. as the
advance was scored on transactions prob
ably not in excess Of $1,000 bales. 1t
was surprising that July and August
showed such a tendency to lag. There
was general buying Of new crop months,
however, and these positions sold higher
than since January.
The chief feature probably was the
census report on supply and distribution.
which made a surprisingly bullish ex-
hibit The April consumption was placed
at $4,000 bales. exclusive of linters.
against 4,s.O00 in April last year. This
shows the largest per diem consumption
Of any month of the year. which also
proved surprising, in view OF assertions
that heavy curtailment was going on
among Northern and Southern mills The
total consumption by American mills from
September to the end OF April. exclusive
OF lnters. is 3.ss6.o00. against 1885,. 700
for the same period last year. Stocks Of
cotton in the hands OF mills at the end
Of April. exclusive OF linters. amounted
10 l,j95, 900 bales, against l,6j3.O00 bales
last year Stocks of cotton in indepen
dent warehouses are placed at 1.329,000
bales. against 100000 last year.
These figures clearly foreshadow rec
ord breaking consumption by American
mills this season. The spindelage is
placed at 3l.07c.000. against 80
$4,000 last year. which is explanatory
OF the increase In the absorption OF cot
ton. The unsatisfactory prices which
mills have obtained for their output have
not kept them from operating fully. not
vithstandinS the high level Of raw ma
terial.
The crop situation probably is better
than generally represented. The entire
Eastern belt makes a favorable compari-
son with the splendid outlook of the
bumper year of 1911. Some complaints
come from Arkansas and louisiana. and
although unfavorable advices are received
from Oklahoma the situation In that State
IS better than II was during 1911. Texas
alone makes an unfavorable showing, and
that State undoubtedly has been severely
handicapped by a bad start Complaints
Of scarcity Of seed are beginning to come
In. owing TO extensive replanting.
The weather forecasts for the next day
or so are favorable. although one or two
TeAas wires We're received that new
low barometer was forming in the South
west
The visible supply statement to-day
should make a bullish showing. AS the
INTO sight rs likely to run about even with
aN year. while spinners' takings will
compare with the small figures of $4,000
bales last year.
Futures closed steady, to 81 points
hEher