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14 Market Quotations For Week Ending April 7, 1914 New high prices were paid for the entire cotton future options the past week under further heavy purchases, trade buying and continued demand from the larger spot houses, coupled with a continuation of short covering. This class of buying was mostly of oid crop positions, while new crop posi tions enjoyed a sympathetic rize to new high ground. The demand for new crop months was based solely on un favorable weather reports in the west and southeast. The volume of contracts that changed hands was large, the principal sellers being the South, commission houses and Wall street opera tors, who have recently come into the cotton market, playing both sides, en deavoring to make some money, on account of the inactivity of the stock mar ket, which has apparently fallen back into a rut. However, the general stock list holds firm, but there is less speculative, as well as professional, interest in the market, but the feeling in that quarter continues optimistic, and the aver age operators predict general revival of activity as soon as the between-sea sou period is over. The chief topic of the week was the bullish cables received from Man chester, stating that business in general is showing marked improvement, and orders for cloth is increasing, which is expected to continue, These mes gages telling of better inquiry for cloth stimulated the spot inquiry in thé South to a marked extent, causing uneasiness among the shorts, who are taking no chances of being caught napping, especially when they are playing with two of the most dangerous options on the list. May and July have al ways been dangerous to deal in, because they are put before the world as the spot months, just at the time the old crop is dying—when mills usually buy cotton for future need. This fact is holding a more important position this year than for several seasons past, simply because this cro;;' is known to be full of untenderable cottom, and alo the fact that the New York Cotton Ex c-hnng‘e will begin trading in higher class contracts next fall with the policy of the board of managers of the exchange 1o refuse to let the bars down and admit dog-tail cotton for delivery. This last-mentioned fact hias tended to pro mote widespread bullish gentiment. It is predicted, according to conservative quarters, that the day has passed when the trade will see the New York market 100 to 200 points below s{mua, and that from now on futures in the Northern market will follow more clogely the spot market of the South. The high levels for the movement were established Saturday, when short covering and reports of Continental buying in Liverpool brought the trade into the market, which gromoted a general demand from the spot people and caused a stringency in offerings. The most prominent spot people were ag gressive in their bidding, as well as shorts, {)ut offerings were held tightly for more money, which forced May to 12.73, or 31 poigts higher than it stood on March 31, when trading in March ended. On the bulge July reached 12.45, while August touched 12.22 and October 11.75 and December 11.79 and Jan uary 11.71. These levels were established shortly after the opening, but were maintained throughout the day, the market being under heavy covering by those who did not care to iet short lines run over Sunday, fearing that Liv erpool would respond fully 1o the advance due, and the market closed firm with the list 11 to 20 points higher for the day. The tide turned Monday, when Liverpool failed to confirm the advance due, but reported a 3 goints advance in spots, with sales of 10,000 bales. This, however, failed to shake the belief of the ring crowd and some of the more conservative operators, that a downward reaction was in order, believing that a continued advance for the past month justified a reaction of a few points at least. This, together with the unloading of some large long lines in the more deferred months, caused the list to lose the entire gain made Saturday. On the break, offerings were absorbed rather freely, especially around 12.60 for May, where many buying orders restel. The liquidation was by no means ag gressive, and was contributed mainly by those who had profits, Trading was very much lighter than on Saturday. There was a disposition to sell the new crops on more favorable weather reports over Sunday. There is more interest shown in the new crops and some of the more conservative operators are advising their friends to purchase October and De cember, which, from a market standpoint, looks profitable. New crop posi tions heretofore have responded in a very large measure to the repeated re ports from Texas that crop preparations were seriously delayed by rains and windstorms. It is stated that in the northwest and Central Texas farmers are fgur weeks behind in their work. The average date for starting planting in I\ur’lh Texas is April 11, according to the Census Bureau, and it continues until May 18. This makes it obvious then, that there is no occasion for alarm over the delay, while the bulls are overlooking the fact that rains now falling are just the thing that farmers want. As a whole, weather developments throughout the belt can be regarded as favorable. In the South, reports tell of too much moisture, but bright sunny days are now prevailing, which will enable the farmer to get ahead with his work. One thing seems certain, and that is that the South is going to raise a bumper crop this year; that is, if re ports from all over the belt materialize. The acreage is supposed to equal, if not to exceed, that of 1911, when something more than 6,000,000 acres were planted, and the extreme cold weather this winter has surely put the soil in better condition to withstand the drouth which usually prevails during the summer. ~J. M. Anderson, of N. L. Carpenter & Co., of New York, says: “Ivery thing looks better for the cotton trade. The situation at .Washington looks better. Congress may regulate trading, but will not destroy it. Prices are more on a parity with spots and the buying of new crop cotton is increasing and it looks as though the planting season may be late. If it is late, the market will show it, you may be sure. The general business conditions in this country are sound. Business is bound to improve, so stop the pessimistic talk and take the optimistic view of things in general, The public has been howling about the inactivity of the stock market. \Wny should the cotton trgde be pessimistic because Wall street is? The guestion of an advance in frefght rates has nothing to do with cotton. A big trade is sure to come and a wide spread reawakening of ‘American business, and with it a revival of speculation wherever conditions warrant.” Both sides of the market are looking for April to be a quiet month, bhut so far trading has continued to be active and the situation in Manchester may cause unexpected activity. 1t is being pointed out that the Liverpool stock of cotton is now less than it was a year ago. Also it is being pointed out that mills on this side of the pond are carrying much lighter supplies of the raw nmtvru_:l: This, coupled with favorable dry goods reports, may cause general activity in the cotton trade., However, bearish circulars predict a lower market on the expected large acreage and large sale of fertilizer. On the other hand, a spell of bad weather would destroy the so-called favorable crop preparations and keep the market on its upward journey. TUESDAY'S REVIEW. NEW YORK, April 7.—The cotton market opened steady to-day, with flrs(‘ prices at a net advance of 5 to 9 points in sympathy with a much better Liver pool than had been expected. There was considerable covering in Liverpool and buying for Russian interests was also reported from that market. The strength of the English was en couraging to loca! operators, who bought heavily, causing a general wave of short covering, and there v'as rebuying for long account, resulting in the list ad vancing 5 to 7 points from the initial range. On the bulge, May came within 1 point of the season’s high mark, es tablished Saturday, when the option reached 12.73 and July touched 12.43, or within 2 points of the high level. The selling was scatetred and light, com ing mostly from those who desired to take profit. ¢ Local weather experts bought new crops on reports of wet weather and forecasts of a cold spell to follow, but offerings during the early forenoon werel free enough to balance the demand, causing a drop of 2 to 4 points from the early high. The market showed considerable strength during the afternoon, being under continued short covering and de mand from brokers close to prominent spot interests, which forced the list back to the early high level. Octover and July were the most popular months. While the majority expects a reaction from present levels, the bearish ele ment is becoming more timed and the more bold are advising the purchase of cotton on all soft spots, pending further crop developments, 2 At the close the market was firm, with prices at a net advance of 14 to 23 points from the final quotations of Monday. ; NEW ORLEANS, April 7.»-l.i\'orp_ool showed great strength to-day, showing futures about 5 points better than due: spot sales large. total, 14,000 bales, at 3 points lower quotations. Scarcity of offerings, good business in Manchester and fear of further bad weather im pairing the new crop start are the bwll ish agents at work. intimidated by the decline of three months the false power of control in certain quarters have so intimidated bull speculation that the great strength of the present supply situation, due to the quality of the crop, is not being ex ploited as it should be. Yesterday's small reverse sufficed to shake the faith of many and caused general lig uidation. which always keeps the mar ket technically bullish, as there is still a large old short interest and futures are at a large discount under spot prices. Receipts are falling off and the into-‘ sight for the week will be less than last vear. Spots are very steady and rather higher to buy. There is a steady demand for cotton below contract guar THE GEORGIAN'S NEWS BRIEFS antee and cotton of better grade is so scarce and well held that its possible weight on the market is of no consider ation. First trades here in futures were at an advance of 7 points and they im proved steadily to 12.75 for July and 11.75 for October. After yesterday's lig uidation sellers are scarce and little support makes an impression.. | SPOT COYTON MARKET. Aflanta, steady; middling 13%. Athens, steady; middling 13%. Macon. steaay: middling 13%. New York, quiet; middling 13.40 New Orleans, steady; middling 13¢c. Boston, quiet: middling 13.40. Liverpool, easier; middling 7.29. Savannah, steady; middling 134, Augusta, steady; middling 13%. Charleston, steady; middiing 1344, Norfolk, steady; middling 13%4. Galveston, steady: middling 13 1-186. Mobile, firm; middling 12 11-16, Little Rock, quiet; middling 13s. Raltimore, nominal; middling 12%. §t. ILouls, quiet; middling 134. Memphis, steady; middling 13% Houston, steady; middling 13c. Louisville, firm: middiing 1234 Dallas, steady; middling 11 15-16. PORT RECEIPTS. The following table shows recelpts at | the ports to-day compared with the | same day last year: == - - e Igies 1918 New Orleans. . .| 3,210 2,474 Galveston. . . .| 7,682 .1; 1,719 Mobile. ... . f 728 1,272 Savannah. . . ’ 3,791 2,532 Charleston. . . .j 200 | 132 Wilmington . . .| 2,310 | 3,370 Norfolk. ..o+ « » 413 | 1,620 BOMON o 0 100 148 Various. ... .l l 116 Total. - 00 ¢ [ 16,366 | 15848 ; INTERIOR MOVEMENT. ! joand. | 1918, | Houston. .. . .| 284 3311 | Avgusta. . . i} 590 792 Memphis. .. . f 2,439 2,359 BE Loula, s 1,807 b 369 Cincinnati. .. . | 1,798 394 Little Rock . o oliiovsevseiil 256 MOtRL. o s 9,379 | 7.487 COTTON MARKET OPINIONS. 3 M. H. Rothschild & Co.: *"We favor purchases of the next crop.” ' Logan & Bryan: “There is very lit tle encouragement at this time to fol- I!ow the selling side, especially during easy periods.” Dick Bros. & Co.: “We look for some irregularity and grefer to await a fur ther recession efore making pur chases.” Miller & Co.: “We feel that taking advantage of strength to sell the new lcro([: months will prove the right thing to do.”’ NEW YORK. denndaf. April 1, Spot cotton; middling 13.30. 1 o : | i\l\al : |‘s SIEBI SIS 8- |&8 Ap [..,..[.....!....".....'12.5040 12.62-72 My '12.50412.52|12.32,12.83 12.33-34|12.42+43 Ju [12.35/12.35(12.35 12.35'12.22-24 12.28-33 Jy 1116)12.20;12.08}12.09l12.09-10|l2.11-12 Ag [11.95/11.96/11.83/11.83/11.83-85/11.86-87 Sp [11.56{11.56 11.50|11456’11.49-51 11.563-54 Oc [11.53/11.53 11.42-11.42!11‘43 11,47-48 De 11.58511.58|11.48|11.53111‘48v49‘11.63-54 Jn 11.49.11.43.11.43|11.43f11.42-4411[.47-43 Closed steady. Thursday, April 2. ’ Spot cotton; middling 13.40. - | A e e R e z o 1 o v .“. §| 5] 5|38 8| B 2 o : o) da o a 0 ‘ AP Fevislie e ...‘.1.‘...;12.68-75]12.50-60 i My [12.33(12.52(12.32/12.51(12.561-52|12.33-34 B 0 |7 bl ks 18 843718 99500 Jly 12.08112.22 12.07'12.51 12.20-21{12.09-10 Ag 11.87,11.95]11.81|11.95’11.95 11.83-85 Sp [11.54/11.54/11.49/11.54/11.61-63(11.49-51 Oc |11.42 11.56|11.42|11.56‘11.55-56 11.43 De '11.49 11.61/11.49/11.61/11.61-62|11.48-49 Jn [11.44/11.56/11.44.11.55/11.53-56/11.42-44 Closed very steady. Friday, April 3. j Spot cotton; midding 13.40. d 1 . il B : SIRIS |3B 8 68 AN Lol catteioud vIR 10-T9O 8. 78 | My |12.80(12.80/12.74/12.76 12.75-76[}%.72-73 | Jn ] 12.72-76 12.72-T4 Jly |12.68 12.71’12.65!'12.61 12.66-67/12.61-62 Ag [12.25(12.32/12.25/12.28(12.25-27|12.20-22 Sp (11.87 11.81'11.87’11.87 11.80-82|11.75-77 Oc |11.67 11.68}11.64 11.66/11.65-66(11.61-62 | Dec [11.63/11.64/11.62/11.62|11.63-65/11.59-60 Jn 111.65‘11.65111.65]11.65’11.64~65"11‘61-62‘ Closed steady. 1 Saturday, April 4.— 1 Spot cotton; middling 13.50. \ l | | &l a . g ¢ o 8 g B|k L RERE. (IZIRIS B¢ B P .. } % I cee)e...]12.92-02]12.74-84 | aiy :12.00&12.73 12.60/12.7312.72-73/12.54-55 Jn ~..._1.....f.....!.....,12.57-5912.41-43‘ Jly |12.35{12.45(12.34(12.45 12.44-45|12.28-29 Ag [12.20{12.22{12.10{12.22(12.21-22|12.01-03 Sp I eleseeeseiide s ..[11.79-81/11.67-69 Oc |11.85/11.75|11.65/11.73(11.73-75(11.60-61 De ‘11.71i11.79;11.71‘11.79111.78-79!11.66—67 Jn 1H.66;11.71511.65!11.71‘11.71-72‘1150-61 Closed firm. Monda({, Aprllv 6. Spot cotton; middling 13.40. 3 A e e ¢ g 8 3 l 5 d s ilglsls) 4] oo} 3 133 0 &0 AD bbb iahe . e e 98-08 My [12.66/12.68/12.55/12.67|12.66-57/12.72-73 I it by IR 2RIT AN T 00 Jy [|‘.Z‘40.12.40‘12.25\12.27\\2.‘.’.7-28;l:n14-45 Ag [12.19]12.19/12.06(12.08/12.07-09 12.21-22 BD ioileeiacdiosilioe. . [11.66-68111.99-81 Oc 11.6811.69/11.59 11.60,11.60-6111.73-75 De 111.75/11.74/11.65,11.65,11.65-66/11.78-79 Jn !'11.GT:11.§7_11.58411.63.:_1_1.:'-8-591’.'1-72 TClose steady. ~ussday April 7 Spot cotton; middling 13.40. g - by r't’; l‘: lilf“ E,;;‘ 2 | 28 0 = I |0 D | A Ap |13.560113.50(13.50|13.50113.25-29] My ‘12.65;1280 12.61112.79 12,79-80,12.56-57 oo lon eol e ey a 8 Jy |12.3612.50/12.32/112.50 12.48-50/12.27-28 Au ’12.13112.25‘12.12Y12.24‘12.24—25,12.07-09. 8B el nh sAO 88-3MII 56268 Oc [11.66/11.76/11.63/11.75/11.75-76/11.60-61 De ill.71:11.80'11.68;11.7911479-80‘11465-66 Ja !11.63v11.69!11.61411.69;11.72-7&11.58-59 Mh 157017001 7611179015 e Closed firm. Z YT Ty TR WToyo op et R Ly et~ - | COTTON GOSSIP | e — ——————————————————— ettt NEW YORK, April 7.—The local mar ket did not respond fully to cables, but a good demand sprung up, coming from commission houses, which caused some 10 points rally, running shorts to cover. October was the popular month. This was attributed to predictions of unfa vorable weather by local experts. * * - Brokers clogse to large spot houses were again buyers of old crop posi tions. . * - » Mitchell bid 12.47 for 5.000 bales of July during the afternoon session. Mitehell, Gwathmey and Cone were the leading buyers. * * * Shorts were nervous and bought heavily, while there was very little cot ton for sale, local operators look for a higher market. - * - ‘Warehouse stocks in New York to taled 114,982 bales to-day, certiticated, 181,496 bales. \ * * * | Sterrett Tate says: “I am not very 'strong on this market either way. 1 would be afraid to follow the advance, though it may go some higher, as peo ple say it has got to go up to attract cotton here; on the other hand, with satisfactory developments in the new crop and the fact that the price of ‘manufactured goods does nof advance 'may cause this market to have consid _erable setback. This looks like a one man market to me, and vou can't tell | what will be the next move or manip ulation.” * « - i Brown, Drakeford & Co., Liverpool, cable: ‘'Nine thousand bales of cotton lwere burned here this morning and | owners covered.” -- - - Bombay, India, cables April 6: “Cot ton valued at “nearly $500,000 was de stroyed by fire to-day. Only two weeks }agnvcouon to the value of $2,500,000 was burned.” .* * . Yesterday's late rumor that a strong sffort was being made to have the De partment of Justice investigate opera tions of a leading interest, which were credited with being responsible for the 'recent disparity between New York and other cotton markets, caused ac | tive liquidation by local longs.” NEW ORLEANS. Wednesday April 1. Spot cotton; midd“n: 13 1-16, s lug "! l s'%‘s‘?. il o n o AP 1.l invlisonlre BTG CTEEES My |12.76]12.76.12.63(12.65(12.64-65/12.68-69 W Liiobiedironlis smin S« Eo< T Jy [1262(12.62]12.50(12.62(12.52 |12.57 Ag [12.14[12:14[12.12(12.12(12,11-13/12.14 8D lieosdevenilovasiees 5]11.66-68111.67-69 Oc |11.61111.61i11.5011.51\11.51-5l 11.67-69 Nv .....,.....9.....,.....11.50-5211.55-57 De |11.59,11.59&11.5s 11.58/11.49-50(11.59-55 Closed steady. ThursdaX. April 2. Spot cotton; middling 13c. \ . . - | £ £z |» : > §15(3 (52| &| &8 ‘ o b ‘"] B a 0 e e ] eet e RD Tl aelsiors 38000 S UINEAY My |12.62/12.73 12.62»12.72\12.72-73 12.64-65 IO ol zonelss wales v0e|13.13-T4(12:64-66 Jly 12.50‘12.62‘12.50[12.62!12.61-62 12.52 AR evoeclennnalsoeeiteessl2.2o-22/112.11-13 Sp |.....|.....;..........&11.15-7711.66-69 ‘Oc 111.51/11.63(11.51/11.6 in.n-s |11.5-52 De 11.53(11.60(11.53(11.60(11.59-60|11.49-50 Jn 111.52.11.55|1L53[11.55]11.61-62|11.51-52 Closed steady. " Friday, April 3. Spot cotton; middling 13c. M-‘?‘ “§s| * “5 S|l 3381 B £D Ap .....1.....1.....i.....112.74-8412.68-'7's My |12.58 12.61|12.50|12.55)12.54-55 12.51-52 (TN Loosaelesvialisonsin. o ISATCABIIR S4BT Jly |12.26/12.32/12.24 12.28]12.28-29|12.20-21 Ag [12.00{12.04/11.94/12.02(12.01-03{12.95 8D Liiiadesosideis oty veusil3 67408111, 61483 Oc |11.59/11.6311.59 11.61\11.60-61 11.55-56 De [11.66/11.70/11.65/11.66|11.66-67/11.61-62 Jn ’11.61'11.6_3.!11_.58 11.60(11.60-61{11.53-56 Closed steady. | Saturday, April 4. ~_Spot cotton; mlddhng 13c\ | ——————-————-——————-—-I - & =8 i @ . ® B -°l 2l ° a e 3 = { ’o | 'a3 , N4l 5 2 Ap Il 1276 T 12.70-79 My [12.80/12.87/12.78(12.87(12.86-87(12.75-76 B 12.83-86(12.72-76 Jly [12.72(12.79]12.70(12.77/12.77-78/12.66-67 Ag [12.37/12.54/12.37]12.54/12.51-53!12.25-27 Sp 1q ... [11'92-96|11.80-82 Oc |11.71]11.78/11.69(11.77{11.77-78{11.65-66 Nv [ Booiles ol BEB-TT1164-66 De |11.67/11.75/11.67/11.75/11.75-76/11.62-65 © Closed firm. Monda({. April 6.— Spot cotton; mi d_lflg_ I_3( = il 1 lp oldE .3 34 o no AOE iRy Rae My [12.82/12.82112.70/12.73/12.72-73/12.86-87 Ju boootntao |l [12.67-60/12 8386 Jy [12.71112.71/12.6212.63 12.62-63(12.77-78 Ag |12.46]12.4612.46]12.46/12.30-35(12.51-53 Sp LPR G LT T 8111.92-96 Oc |11.72111.72/11.62/11.64 11.63-6€4(11.77-78 Nvil os B De [11.68/11.68{11.60/11.60/11.61-62/11.75-76 T Closed steady. -:l'_uesday. April 7. Spot cotton; middling 13c. g| £ P o 2 3 lair‘%\&’;‘ s ‘22 ol alda O &0 R e R My 112.79]12/92/12.78{12.91/12.91-92/12.72-73 JU [rreolssnoalssors]ssoni|l2.B6-88)12.67-69 Jul {12.69/12.82/12.68/12.81/12.81-82/12.62-63 Au [12.46/12.54/12.4612.5412.55-57/12.30-35 8D [ calisomalisocalesoos|ll.92-9411.76-78 Oc |11.68/11.78/11.68(11.77/11.77-78/11.63-64 Nv |l ol [1076-78)11.62-64 De (i1.67(11.7%[11.67/11.77/11.75-76/11.61-62 Ja_|ll:6B]ll6B/11.68116811.77-78/11.63-64 “Closed very steady. i\ w-hwxw-vwv\vm-ww,vi The New York Financial Bureau: “The bull trading position should be maintained with preference for special ties. It is expected that the next few months will witness a big investment market, especially if the principle of rate advance is established. We anticipate action.” * * - G. D. Potter says: “The market may” continue dull & little longer, but 1 be lieve good stocks should be accumulated on recessions and held for the long pull. Specialties will be the active issues at present. I would buy Interboro pre ferred, Alaska Gold and the copper stocks for immediate action.” » * - The New York Commercial: ‘“The ap proach of the Kaster holidays is not likely to stimulate trading.” * * * The New York American: *“A com mon sense rate decision will revive ac tivity, stimulate confidence and broaden employment. ' - . Ld The Wall Street Journal: ‘‘Stocks generally show a firm tone.” - - . The New York Sun: ‘‘Speculative im pulse is lacking both here and abroad, and though prices are very well main tained, apathy is the feature.” » - & The New York Post: ‘““Wall street is waiting with much interest to learn the membership of the Federal Reserve Board.” . . - The Norfolk and Western Railroad lays off 8,000 men. » . L Great Northern Ore total income ot 1913 aggregated $1,133,800, against $2,- 704,100 the year before. » * 5 8 & The Interstate Commerce (‘.\mmisslfln report shows a decrease of $225 in ness revenue per mile on the Ikastern roads, as compared with February, 1913. METAL MARKET. NEW. YORK, April 7.—The metal market was steady. Quotations: Cop pet, spot to May, 137% @l4; spelter and zine, 5.25@5.35; tin, 36.55@36.85,; lead, 3.75@3.85. BAR SILVER. thO(A}'Y"ON. April 7.—Bar silver steady at 27d. NEW YORK, April 7.—Commercial ‘bar silver, 583¢c; Mexican dollars, 43%¢.