The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-09-08
BIG COTTON CRoP NEEDED.
Opinion of the Vice President of the
NcM york Cotton Exchanges.

NcW york COttOn 1IxchnnEe.
Colonel w. v. King, vice president Of
New York Cotton Exchange, said in an
interview last Friday:
1.-The cotton yield for the year ended
August 81. 1887, as just compiled by Mr..
Henry G. Hester superintendent OF tho
New Orleans Cotton Exchange, figures up
a total of S,75S, 900 bales. If we add to
this the receipts of August, 1896. most of
which came from this crop, but which
were counted as of the year previous, We
have a total crop aproximating very close
ly to 100000 bales.
Now, the very significant fact remains
that, Notwithstanding wretched trade in
this Countrywide poorest, probably for
years-and the consequent limited takings
by the trade here. this entire crop of
about 100000 bales has been entirely alb
:sorbed and In addition thereto reserve
stocks, the world over, have been drawn
upon until they are today the smallest
known for years. In America. stocks
were completely exhausted: New York
has supplied Southern mIlls with cot
ton.
1T is safe to assume that with I'M
proved trade in This country the require
least 10000 bales more than last year;
indeed, it is quite probable that the TAX
ings may even exceed this amount.
large crop is therefore an absolute neces-
Sity to prevent further impairmentS or
complete exhaustion of reserve stocks
abroad.
The outlook for the present crop is not
as good as thirty days ago. In the North
ern half of the cotton belt the crop is
decidedly late. An early frost might.
therefore, materially reduce the yield.
The present low price unquestionably dis
counts large crop which is not yet
assured NOR win it be until after Octo-
Der 20-frost limit for the belt--meanwh lille
there Is a large outstanding short interest.
and Europe is anxious to depress prices
in order to secure her supplies cheaply.
Compared with other products, cotton
is selling today at a reasonably low price
and should attract investors. II is only
two years ago that the mills in this coun-
try took 100000 bales. and exports were
6.Sl9 .0Co a total of 9S26.00O bales 1t is not
impossible that such may be the require
ments of trade this year
Crop Overestimated.
New York advces by private wire to b.
W. Hunter 4 Co. today were as follows:
The trade generally continues bearish,
giving little attention to the reports be-
ing received Indicating considerable de-
terioratlon in crop conditions. The weekly
government report, summary OF which
was published today, states that the gem
eral condition throughout the cotton belt
is less favorable than week ago,> and
that large deterloration has taken place
in the middle and eastern parts of the
cotton belt. If the reports coming In are
reliable. the crop is evidently being over
estimated, and the change in sentiment
may take place at any time.
Liverpool continues her hand to mouth
policy and as long as the belief in an
excessive crop prevails. foreign splnners
are not likely to be found very active
buyers. This mornings cables We're dis
appointing. and our market opened l to
5 points lower. The buying was rather
limited hut there was considerable vol
ume of selling, which was supposed to
represent TO a great extent hedges against
purchases of actual cotton. The early
weakness was followed by better tone
and a rally TO Saturdays closing on buy
tng for New Orleans account, doubtless
based on the less favorable crop outlook
Lacked Especial Feature.
New York. September THE market
for futures lacked special feature today
and at no time could trading have been
called active. l1verpool caues Indicated
liptle chanre In the situation abroad, with
the feeling. II anything steadier on an
announcement in The demand for spot cot
ton. The market opened steady with near
months unchanged TO ! point higher and
the remote positions to points lower.
Following the first call the decline was
increased 5 TO points after which the
market steadied 10 Saturdays closing
prices on Southern bny.ng started by a
bnli,sh weekly weather and crop report
Win the sitfsfa ctSon of these orders
however. the market again ea.sed off in
the afternoon and closed 6sock 40, J, steady
at a net loss Of TO t6r s2is5: on
Dry CO. Kelley, guardian.
Nar, y,,r,, CO block l, Porter and
market opene;sh side Buffalo bayou; s ris
today. the ad7 .sS; City OF Houston VS..
day maxim; Al.
1emand mI sixteenth ncres Of land on Clea
,ss ms chdgment for $40: Officers of Cour
s an 3ward Palms ct al
position )aorss out Half 100 acres. Of the A