Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1918-09-09
ARE PLACED
upon STOCK SPECTATORS
Close Control Is Now Authorized
Over All the Cali and Time
Loans OF Members.
MANY LEADERS ARE REDUCED
Extreme Range Of Prices in the Cot
ton Market Last Week Was Nearly
Cents, Forcing the Cost to High
Levels
LRy Associatcd Prcss.l

ny Associated Press.
NEW YORK. September S.-Ec-
straints upon speculative actively,
which arc assuming nation ide pro
portions, were imposed last week by
Institution. at the suggestion OF tho
Federal Reserve Board and local moner
pool, authorized close control over tho
call and time loans Of it's members
Prior to that development the mar
ket bore surface signs Of contipu-
ance Of the previous weeks advance
Gains Of two to six points soon
crumhled away reducing many leaders
To their levels Of the previous fort
night.
Conservative Wall Street realizes
the financial, commercial and industrial
interests of the country arc to retain
their present unassailable position. Nd
vices from every section stress the in
creaSinE curtailmcnt OF loans, save for
absolute essentials. .,-s-f
In the unsettlcment created by re
prcssive credit measures. acceptance DC
the revised government contract by tho
railroad executives received scant al
tention. Concessions have been made
by both sides, but the right Of appeal
TO court OF claims is regarded aS a
distinct victory for owners or securi-
ties
News from abroad was the mos. in
nuential factor, next to the monetary
situation. the disorderly retreat of :he
German forces finding unmistakaUle
response. not only in the strength tof
domestic issues. but in foreign war
hotations and rates of exchange to this
rountryS allies.
exchange on the Northern European
capitals, where latest political develop
ments. as viewed by international
bankers. inclined more favorably,(to
the cause of the entente powers. ~
EXTREME RANGE IN
COTTON $40 A RAJE
NEW ORLEANS. September S.-The
extreme range OF prices in the cotton
market last week was nearly 4 cents
a pound. or $50 n bale The ma rket wn
forced TO the highest levels ever made
by contracts by the condition report
Department of Agriculture, Octoper
touching 1906. AT this quotation, the
trading months were EOS to PA points
under the close of the preceding week.
y selling movement. partly resulting
from liquidation and pa rtly from oprr-
alton on the short side, carried the
weeks close. Last prices showed me t
losses for the week OF eighteen to
twenty-cght points.
The main bearish influences were tDa
weekly returns from the belt which the
trade construed meaning that some
Improvement had taken place since Au-
figures and the new move toward sta :
bilizng prices announced by the War
Industries Board. However, toward the
end of the week. an easter feeling pre-
vailed regarding this move. on tho
close some liquidation was inspired by
bcarish predictions regarding the hrst
ginning report of the season, due Mon
day morning on tho opening. This
week the market will probably be tenn
porarily under the influence of the gin
ming statistics from the Census Bureau.
They will carry the crop down to the
first OF September, and will compare
with 6lA,IS7 bales Einned during the
same period last year, and S50,66S tN 20
years ago. ~
Private estimates on ginning during
this period are as high as l,009.d00
bales. Weather conditions are almost
certain TO be an important considera-
ton this week. with temperatures OF
more consequence than precipitation.
some uncasiness having already been.
caused by the cold weather in the
northern districts of the belt during
tho latter half of last week. War,news
has been. and is likely to continue am
underlying influence of Importance.
Many weekend market circulars re-
ferred TO the situation as unsettled aud
uncertain. 'v4&f-
go