Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1893-11-06
SATURDAYS MARKETS.


Special to The Gazette.
New York, Nov. 4.-Atwood Violet
4 Co, say; We try to draw the line
where conservatism in expression Of
opinion on the markets should begin.
and in putting forth our views Of late
we have tried 10 temper them in u III
a way with figures and facts as to show
that IL the results have beon different
from what we expected. we might show
something MS reason for our being bull.
ish. that we could perhaps be as couyinc-
ing to Others as 10 ourselves that prices
ought 10 be better In other words, we
have given data in which we believed and
do believe in higher markets. We have
taken the position that a great deal Of
bear argument las been based first.
because Of pretty big speculative short
interest. both here and at New Orleans.
that has been sold at considerably low
er prices, and they naturally are anx-
ious to have the market back to those
prices, but which in our opinion they
will never realize, provided OF course
mat our Impressions Of the movement
and sp1t demand TO be developed will
be confirmed. 4 great deal OF the bear
feeling is due TO the reliance upon the
old theory, which has been confirmed by
number of years experience, that cot
ton would 20 to the ports and interior
points during Ortubor. November and
December with rush aud desire to
sell that would bring about the depres-
sion that usually followed.
The South today is q very different
South 10 that OF few years ago, and.
because, as we said shortly since, Amcri-
can cotton has TO provide for all the
banking aud speculative short interest
In four of the future markets, besides
practically clothing the world with cot
ton goods. II does look as though the
time had cour for the Southern people
to obtain better prices than The price
at which those people who have been
selling II for the last six months were
willing to allow. We called attention
only twice since 1919 had middlimg cot
ton in this market sold below S cents.
II makes no difference however whcth-
err the movement is large or small or wheth
er the idea Of the crop should be 5000
600 or 7.00l,O1U hnlrs. provided the
spinning mills of this country and En-
rope do not consume cotton ENOUGH,
O0O-bule estimates and telegrauhn crops.
Bets of largo estimates are the latest
development to hear cotton. and which
no one here pays the slightest W ~
ton co. although the market is fooled
with them.
There certainly scAm good reasons
for surprising that there should hc
spot demand that would carry prices
higher aud perhaps much higher The
position here is about us follows The
cotton that comes here Is exceptionally
small, 70 portion Of that belongs To the
people who bring II here, contracts
against which have hern sold Mt the
time Of It's purchase. and therefore while
brought here for the banking and for
The protection Of tho particular contracts
referred 10 affords protection TO ihe
very large and short interest That always
Orleans and European account
We suppose there are some twenty
five firms mere who own. practically,
the New York stocks always, ana the
selling during the spring AMI Sumnw
that takes place Speculnivoly. is based
upon The ideh thai the usual lmonn! OF
cotton would be Wrought To New YORK
by TIE same people during me llll ami
winter and lhnt ne oWners OF the spot
cotton would tender MS usual a0 each
month became current ana he enabling
them TO cover their own sales, and
transferring Ia other months ana thus
enable The speculative shorts to do ihc
same fling We see no other short
interest here, PERHAPS nearly, u not as
large as one year nEo, and th' stock
Of actual cotton l2'oOO bales, less than
this day last season ana WIN southern
markets above a parity WIN ms mar
kci, owing TO ing gnalrr ilnonc'nl lh-