The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1898-10-17
THE COURSE OF COTTON.
General Public Beginning to Take In
terest in the Marke..
CLAIMED TtX4S COTTON TO BURN.
for Their fnith--Sugnr Planters
in Helpless Condition.
iew Orleans Times. pemocrat.

New Orleans Times Democrat.
1t is evident to the close observer that
the public is beginning to watch Inc course
OF cotton with something more than a
| merely benevolent interest. AS yet the
quietly on, while the battle between the
producer and tho consumer pro eeds. The
| bitter memories of the past inspire an
abundant and even excessive, caution, but
there are signs of growing rtstlessness
which may, at any moment, buIs, the
| bounds OF restraint and take the market
out of the control of the professionals
| AS Il matter of fact the public is awaitir g
some unmstakable sign of the size Of
/ The crop. here is a large party which
/ iiimty believes that Mr. NELL is radically
wong In his views, but experieDce has
taught mat t Is much safer 10 err with
MIR Nell than be right against HIM The
prophet Of plenty has for tbs present at
| least Il power to cast n spell over he
average man who plays with cotton,
among other things, IN his moments Of
| leisure.
There IS widespread belief that the crop
outside Of Texas has suffered very great
injury from the excessive rainfall hut
! the movement out Of Texas inspires the be-
I
ton TO burn. But, even IL il be admit
ted that Texas has attained its maximum
production per acre (Which would give Il
crop OF about 1000 600 bales). it would by
no means follow that Mr.. Neill's estimate
OF lO,500,0O0 bales would be reached The
| states outside of Texas produced last
year ahou, 5000 900 bales, but the sea-
son was. in many respects, phenomenal.
and very much smaller yield for the
present season is quite on the cards
Ire bulls point with good deal OF en-
| phasis 10 the weekly report of the Nam
chester market OF yesterday as follows:
"A further large india business was
done last week, especially for Calcutta.
mostly IN dhooties, suitings and wide jac-
onots, China partiylpatirs while heavy
goods and printing cloths were less act
we, Very large engagements are now
held, aud much is believed to have been
'eft uncovered in anticipation of a fur
ther decline In cotton The miscellaneous
markets were fairly active. particularly
South America, and also Egypt and the
levant Yarns are doing we'll. The pro-
duetion is well absorbed. and stocks are
insignificant Germany reports a large
forward business in yarns. he present
prices proving attractive to buyers. Rouen
advlces also report an active market at
slightly lower figures"
The bulls contena that the large $40,
out fully this optimistic account OF the
position Of the manufacturing industry
on the other side and claim that the
slightest favorable circumstance would
make the spinrsrs cover their shorts ON
a gigantic scale. II is pointed out that
the world has never been able to spin
American cotton al so low level of
price for so long a period, ard IL is cor
tended that the result must he an In
crease OF consumption that VIII. in the
end make the bulls wrong about the
price, even II they should BE- RICH about
the crop II Is also said that the low
price is already beginning to have It's
naturi effect in minimizing the incentive
10 pick the crop. as the laborers who have
received advances can see very Clearly
that 10 gather cotton OF which they long
ago ate M the proceeds would be mere
labor OF love.
II Is also said thst the indifference Of
the great unwashSd" will he intensified
neeause The recent tremendous rains Will
lower the grade, and deprecate the value
OF The cottor IN the fields. On the pres
emf basis Of milling, ordinary is only
bringing s-i6 and it is natural to sup
pose, that II the supply OF this grade
should greatly increase, as Il Is likely to
do, the value would still further decline,
On thff basis. the producer would hardly
get more than $40 per bale net for his
product That would not amount TO much
II II We're all profit, TIE bulls saw that
the result will be the destruction OF all
basis of credit, and that an immense cur
tailment OF acreage will be one of the
absolute necessities Of the situation. And
the bulls cling to the undoubted fact that
in all the past cotton bought below 5
cents has been one OF the sure things of
life
The bears say. on the other hand. that
the imagination can rot grssN the effec,
~ two successive srcrs NJ 'l.e,o mn hsles.