The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-04-06
TENDENCY OF PRICES
GRADUALLY UPWARD
On Wednesday There Is Sharp Break-Market In
fluenced by Disturbing News That Drastic Anti
trust Legislation Is Contaminated

New Yorn. April THE market was
fairly active at times during tho past
week, with the tendency OF prices
gradually upward until Wednesday,,
when a sharp break occurred of IL 10
20 points III prices on liquidation. This
was Influenced principally oy disturb
ing news from Washington limiting
that further action is contemplated
FOR more drastic legislation 10 the
pending antioption cotton trading bill
The market. however, recovered from
this slump on Wednesday on renewed
trade buying and covering of shorts
and continued lis advance yesterday,
when the highest prices not only for
the week We're reached bu, since tn.
upward movement started month
ago. The highest prices reached yes
terday were May i26l. July 1882. Au-
gust o., ana October representing
tho nrst active trading month OF the
Now crop, ll.t3. against ll.IO for Dc
c-mber ana l.o2 Tor January
These prices represent d maximum
advance OF IS points Tor May, To ~
FOR JUiy from last SATURDAYS closing
quotations. and p 10 20 points for
the new crop months. AS compared
win the seasons lowcs, level OF
pr!ces reached on March .. when May
contracts sold IL ll.53 July IL IS. and
Januar! ll.22 the extreme advances
SHOW from ttoSc quotations. arc INo
points ior May, against "a points each
for the ucw crop months OF October.
December ana January.
present prices As compared With
those Tor the genera! list ,oi year
ago are 40 points niRher fot' May. ana
20 Tor July, and = Tor August, while
crop months OF october. December and
january are 10 points lower than they
were men The March option here cx.
pircd ON Tuesday at 1927, against the
Ulss Ia 4.
compared with the low level %! II oG
on March g, rs conrasted With the
closiug price Of last Saturday OF 1901.
The Outlook.
Tho principal feature OF the past
weeks trudiug has been the further
accumulation uf Aiay and July con.
tracts bN the largest Wall street ana
local cotton trade interests While
fomo oi these Interests have sold the
batter month as hedge against nc
uear months there las been very sub
santial buying OF tn" new crop do
livcrl"s by other. important trade in
tcresis and local operators. VINO re-
gard those contracts a. much more
attractive "a purchase than the near
months The great uncertainties Of
thv Developments in connection with
the new crop. which may give II a
late and poor start. together With thr
iemarkah!c iinproS cncnts nIat are be
ing GradusNy rnadc Oy tho authorities
OF tMc New York Cotton Exchange in
the standard OF its contracts. MAKE The
new crop too wide Under all the cir
cuinstauces
There is an ample supply OF cotton
in the worlds visible supply points 20
meet the -.OuIroiuents OF the world $
spiuncrs until wcil into IN" tlmc when
1'e new crop VIII he ready 20 move
freely in October But there is no
such assurance that tie new crop viii
develop into aLoth"r notwithstanding
yield ~ oyer l5.pQn0oo bales. and II.
cent Cotiun FOR n"W crop deliveries
would soau - br az attractive spcru
la'iyc propas!tigu. und"r TIA" c!rcum
stances; ~herrns. ia cents tor MAY
contracts "uuid srein plenty high
enough FOR such deliveries. With gucl
ample supplies sun 70 come forward
from tho south before tho balance OF
haies inclpd!ng lnters, aa onicailS
stated by the Census BurcRu, has hecI
disposed o. So fer hu, i32to.oo'
10 date from the opening o. the SEA
con on September on this ctLcu,
lation. there rpust Btill be 1881 60t
bal"s remaining ~ the south TO com.
forward. Including lnters. before tn,
end % u. present cotton ycAr 90
august 81 which Is less than nv,
Marketing OF the crop.
the movement Of the crop into sigh
THIS week from plantations TO tn
ceiYinr points win approximate
rota! Of $4,000 bales on tho figures O
the 'f.w IorA Cotton Exchange. TIT
coInpartes with $4,000 ias, week. lae.
yeouiG make tho total amount OF IL
crop marketed from the opening o
the SEASON on September - date, ..
2is1cr bales. against l2.5l4.QQ0 q.
same t!'1e last year
The estimate OF the worlds spinner;
taNinss Of American cotton for TIA!
week Is 10000 bales. against 293,0O
last week and 10000 Last year. Tai
would make their total takinRs iroI
the opening Of tho scaeon TO date, o
$4,000 ba!cs. against lo.3l7.000 las
year. Thc indicated decrease In I'll
worlds visible supply for the wee
-. therefore, about 10000 bale
against q decrease OF about l3s .0C
last week, and i29 900 Iast year. vino
would mako tho total WORLDS suppl