The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1898-10-31
THE COTTON SITUATION.
1'o the Edgtor 81 The Posi-.

70 top. Fsrme:s forced picking IA ~.
keting, causing an avalanche IN rno,, 80 X
never before cquallei, causing III. -rt ~
views ard estimates, causing ~. ,.' 49,
prgces seen In America for fifsyNyo,rs3 ars
we venture the opinion, the Iowest !. Nv :
seen in ten years to come.
Under dale OF October 10 Mr. Hsnrx I, .,..s
wrsaes;-''On the question OF cron 49,. n
stiil great question, the essential na,s. :.
ana tbs can not be too strongly er,,r.
sized, that IL frosls should occur n,,.,.
evea at an average date, the plant 4 /,
worse condition than usual to stand M
II is thus evident, to insure the prawyh y.
harvesting OF bumper crop. wa 49,. ~.
all probability, two thirds of ~, M n
to have litter frost than us,,sl
open winter. In fact, the en.,,'l,.s 80 = hns
uAys WIN 80 far to make or mar rna ny
!. ca 10 confirm THE large figures hsss, sspp,
put iorth' or to reduce the result 10 wS..
hi.sht ne considered moderate fia,,ra. "''A \,
view of the large and increasinr c,1ns,,. "a
t.0n AID the extremely low pr.ces MY
II not all, VIII be decided by the crsa .sa.
four weeks" S.saaS
We understand Mr.. Ne.al has ,us,
made an estimate OF 10000, 900 bile. IN
, us crop. sVEkes US the old man ~ !.
tved ana estimated one year tco Iaas
Messfs. Landauer q Co., under dar, M.
TENDER H. say I'VE have Previous : 49, Ssi- N
ed out the backwardless Of the sr nS.I.-
crop makes the plant more subject r. IN Z
Vlcisspvudes OF the weather than nm $500. ~
one. Again, on September "a. thrv 49,.
we draw renewed attention TO the d.r.s.
OF frost this season on more than su.,s,s
IONS Oh unnecessarily moisture in the cottnn
Oh some districts. This week Mr., I'm.
dater was 10 Houston. He said time =
his investigation led him to believe Il :
crop exceedins 100000 bales. but had AZ. 8
termned on prospecting further in Ca:
trail and Northern Texas and Arkansas =. +
fore making his conclusions. ~
Messrs Arthur Bornefeid & Co. unds.
uaoe or october s. say: THE present crco
prospects are ready good to fine west 81
The mississippi, but only fair in the Mis.
sissippi valley and the Atlantic staiss
Estimates for Texas and the Indian Tsrrl- &
tory, $780, 900 bales; Atlantic States on
II50,O0a bales; total, IL $50 900 bales. ana
we should have to reduce these figures 100 .
600 TO 100000 bales IL we have an carIv
frost and generally bad weather through.
out the South, because we have late crup
and have to have good weather from nav.
on to make enough middle and ton GRIM q \
reach the full 100000 figures. This, 81
course, LIES Still in the bosom of Fa.e,,
Since these writings we have had IN
Texas heavy winds, rain ard hail storms
lnJurlng much open cotton in quality. and
reducing quantity. We have had frosts
over nearly the entire cotton belt, stopping
any further progress in top crop and low.
ering the qualify of the cotton remaining
In the telds.
Last years crop was distributed as FOL
lows by Mr. Hester's figures:
Total crop ............ 11,1e9,tSo
Great Britain ........ 3,54s.51o
America, North ana
Continental Europe,
etc. ........ 3,996,550
1o,sss,si1 1o.sss.sii
Leaving balance. surplus. ....... 2l5,sss
The Financial Chronicle gives acreaee
1 631 900 less than last year. Based "a 4
same as last seasons average, 745, coo bales
less, and we are confident none In the cot. &
ton trade will hold that the increase a I
production over the entire cotton belt WI q
equal the decrease (where such occursl ~ 4
compared to last years outturn. We give
as our views of maximum crop figures ~
100000 bales. total Jfop Of ths4 CMte II
States, and 100000 bales Texas ard tn y
Indian Territory for 1850.
England has bought liberaly OF Amevf-.
osn cotton, this crop. while Continental M-
rope, our own spinntsis I'm the United StAtes
and even China and Japan, have bought 4
sparingly, and must be large buyers to re- \
pienish their stocks. Trade torksltie Of
PRINT cloths IN our country-particularl at
Fall River) is good and broadening, hence
we say to the farmers and merchants VINO =
can afford to hold their cotton, put cenn
on it at the nearest market, and 1t Is only u
a question of time, few months. wneh
they win get it. To the spinner and manu
facturer. we say: Buy cotton, BUY until he
stock becomes burdensome to you. IT can
not become so TO your bankers since az
these low prices cotton OF good character.
we'll bought Is the very best collatsrai VOW
bankers can hold The opportunity u "a
rare one; take advantage of 1t as being SID
safe az an investment with cers{
tainty Of large returns Of profit ana M.
are willing 10 ba placed on record IN ~
above statement To the Spectator ~
say: The opportunity is one IN lisums,
when you can put up small amoun.
and reap fortune by buying 49,
ton az its equivalent In cotton contrae9
Dent wait. hut act at once We have els
ready seen the weight Of this crop; nv
expect falling of in movement ana
hancement in values as actual deveicIys
mgn,s come to the knowledge Of the coscs
world.
The Course of Cotton
New Orleans Times Democrat.
Agam we are called upon to cnrohen
new low record-price for cotton--a's'
March contracts. IT'S true. the dcch1
from the previous price is not very ssesx
but every depreciation of five points ~
means shrinkage of 1 per cent 10
value of the South's great staple proauHs
and the producer viii. no doubt LOOK wv
it as Mercutio looked upon his woun1; ~
1t is not so deep as a we'll, nor 80 w'as y,
a church door; but t is enough
The crop is swiftly passing oAs
first hands, but the weight Of several ~
lien bales must yet be felt upon the -
kets. Unless some change OF temper sAs's
come upon the spirit of either the prouass'
or the consumer, il is difficult TO sec ~S'''
tho disastrous process is 10 end In, y
We have repeatedly called atten l'.s.rs
the startling theory OF NUMEROUS So- Wy
bankers, Us expressed in the Nem ~
Journal OF Commerce, to the eneot llas ~
prices mean prosperity TO the farmeI ~
are inclined TO think that no theoly ~
ever emanatea from the human pfs. 49, x
received so exhaustive test as Is 4pysst ~
DO gwen to this seeming paradox - o.
financiers, who are rather prons ~. g,
that wisdom will die with them - ~