The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1898-12-01
IN THE COTTON MARKETS
Statistical Information from the Exchanges
Of United States and Europe.
HAS THE BOTTOM PRICE BEEN REACHED.
This Il Now the Leading Pasture
of the Market--All Future ssnr-
kcts Close Lower.
office Or Tho rost,
Houston. Wcdnesday. Noyelnber 30.

lotion 1uHt now is III tDout the tnOst Iutct-
cst,nE position of tho season. At all times
II IL said that one opinion Is ~ good as an
other. but such is not always the case. Tho
opinion which accurately predicts the future
,s certainly the winning ono. Just now. how
ever, opinions differ. Some seem to think that
the lowest prices OF tho season sro passed
and that from now on there Will be steady
and gryduai advance. On the other hand, tho
bears claim that open weather which Will
permit picking and a breaking OF the block
ade Will precipitate on the market perfect
flood OF cotton and that the heavy receipts
vii. cause prices TO drop.
From all accounts 1t seems that there Is con-
siderable buying for investment. The pro-
10, eiopa,s are looking for quick profits. but
tho outsiders are coming in and are purchas-
ing with i, view 10 profits In the future.
Today showed another decline and all OF
Mondays advance Is wiped out. prices being
about the same ny on last Saturday.
Liverpool closed at a loss OF l-Vf on III
| tures New York 8 to points and New Or
| leans to 5 points.
There was little doing In spots New YORK
ard Now Orleans are LIE down and o.nei
markets unchanged. 81,
Port receipts We're 7S,i1i. against A7.65s last
| year and 50. $40 in 1894. ,,.ao
Houston expects tomorrow 5000 to ls,Soo,
| neainat sS2S last year and H.s27 In 1921. New
| Ur,eirss expects 5000 to 10000, against $1,000
| last year and 1898 In 1884,
| The New York Commercial contains tue iol-
| loving The attention OF the cotton traue ~
| this country has been called To the iact tnut
inc long sighted men who are y. n ,ne nsn
| underlying motive IN tho tcnactty WIN %h, s
| they have so patiently worked and iougn. 10,
| the upper hand In Egypt. II is pecomiins
| a;5ttremt that the control OF the hnedlNcs
| territory is hut n part of one grand pia,n
carefully thought out, and managed with
| .l,, tprtp ftpf trt nj
| for the attachment, to tho Crown OF those SCI
lions OF tho earth's surfaee that WIN make
| tho British empire independent OF the rest vi
| tic world for its supplies OF raw material.
/ Cotton is grown Nj India, but Breat Britain
+ forced TO depend to great r n edten e, U'
pirc Is Ii long way OIL, and the supply from
that quarter is limited Egypt, however. ~. y
4 nearer to Great Britain than America. ana
/ Egyrt.an cotton IL OF rner quality than that
| gown here. so much so that we import II
into this country for tns making 81 our t erns
| tor, under British control, MS 1t practically
Is now, with British. capital invested In the
| prise prompting the extension of the acreage,
/ it is acknowledged by the cotton trade mere
that there WIN be danger before vs. o. hs ~.
| controlled fiye-eighths oil the markets OIL tnc
world
cotton exchange firm OF George Brennecke 4
| Co. was asked by representative OF the
Commercial concerning this question OF graNe
iu.rs rt,ince to the cotton trade Brennecke d
| Co, have been large Importers OF Egyptian
1 cotton, and Thoroughly understand the value
al this variety OF the staple. ar. brehhecke
| said
Egyptian cotton is brought here to be useo
| in the making OF our best cotton goods. me
| texture is finer than the American grown cot
| ton, and the color makes 1t better adapted Tor
the high class grades Of manufactures. It's
| g,owth is dependent ON the seasons and other
| natural conditions and IN the hands of the
feliahin the supply has been limited one.
| with the British IN undisputed control OF
] hn
quickly changed. Whatever THAI nation does
Il dces thoroughly. Where the Egyptians have
gi..es them. the British would very quickly
set about aiding nature by art, making AS
they 90 wherever they go garden s on. OF oa
| scientific methods that the Egyptians neyer
dreamed Of, and, having exhausted all avail
| presidents are ut fault, very speedily strike
| on. for new ground. Being established in the
heart OF Africa. they would have ,, unlimited ,a
| coule Increase the acreage, in land tlat
grows especially fine, cotton to AN extent
] euua. to their demands.
| Transportation from the interior of Africa,
| viewed In the light OF existing conditions,
observed the way tho British so about things
doubts for a moment that such difficulty
80 that would be very soon overcome by the
| construction OF railroads.
/ Il have never been In Egypt, and do not
knew how the fellnhin laborer compares with
be supposed that hat he Egyptians would work
much cheaper than our cotton planters can
get tho negroes OF the South to work for.
Conditions would therefore favor the Anglo
1 Egyptian cotton planter
Another member OF the board said. "ic
IL II gtlvu mattas To our cotton planters. and
s.,onld be the subject Of thought 10 the whole
trade We have been 50 accustomed 20 pros
nerty tina we ignore these dangers OF losing
itnportaht markets. w have hCen too AFRO
CANT in our fanoied security. and Foreigners.
II the truth must be told, are disposed 10 re-
stnt cur claim To superiority, and would well
trnpN IA rival .nuI lGyut Dy
those who look ahead
4 Wcmther Market.
H. W. Hunter \ Co. say of todays cotton
market, Pretty weather. with generally fair
weather predicted for tomorrow. made hold
ers OF spot cotton more willing TO sen aud
took some OF tho hull feeling out OF buyers of
the past fow days and brought renewed eour-
ngc 10 the bears. who suffered such punish
r,ent on Monday. The latter sold little
amounts s Vu and took heavy losses at Is to "a
points higher. This IL speculation, and Il
seems that some people win peyer learn the
gsmp. Tho market today closed Just the
same IN New Orleans as IL did lest Satnr-
day before the excitement came, and In New
r Se s ash 81 M aSs "fs ws ds al
only 1900 bales on the spot with quotations
\ quiet and unchanged aud ciossd barely stenay
at 1854 decline on contracts, The semi-weekly
TEL short OF last week by 1000 bales. estl-
mates were light aud already for this week
Dort IetelptS are Ht.VpN puteA ptulfiu last Wtth
aud II now looks as II the total for the week
wnl scarcely rfaeh 100000 aud as II the
4 amount coming Into sight will be less than
halt million bales The Houston cotton OK
4 change today fell into limo With the other ex-
changes and the members are recording thei.
estimates OF the Texas aud the total crop. The
\ iEtis about completed this afternoon and the
4 ay.rqgc on. tho Texas crop win he about
s,eI5:ooe and on the total crop about il,soo,-
Il 0ou bales. However, some of the menbers
who have nut down tho highest estimates
We're, very hnllish a the TOP Of tho market
| Monday and possibly they think that cotton
| Is at least low enough even u their big cst
mates arc correct Another little spell OF bad
wcgtfer or renewed activity on the part Of the
srinners will make bulls again Of thr bearf
/! Of today 'rne spot markets are easier aud
New Orleans and New York reduced quota
tions lie.
CnrsiIl s. Richardson's Circnlsr.
Cnrgtll a Richardson say:
Our cotton markets today wers nearly
repetition Of yesterday Liverpool was dis
appointing, being i-6t down. and only 10000
taken on the spot They also seat selling
i ordeIs 10 New York Now Orleans contri-