The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1898-10-01

A. j. Il. Landauer Co. OF Liverpool say |
IN their circular Of September Il:
In apalyziug the prevailing sentiment In tho
cottcn markets Of the world, Nc are Of TIE
or.uion that the bear element is everywhere
dc ctGeGy predominant
Hnuy spinuers and operators IN Europe are
very short, and we are given to understand
tlli 81, Manchester considerable amount OF
buSirs 81 has been put through on the basis OF
sd and even below AS 10 dsualls .i.- l"-
the more the decline has proceeded the greater
tap selling has become.
Every one IN anticipating "A large movement
aTt very low prices. and. II the prevalent
OPINION Ds correct, Liverpool D. tuia -.tsp, 90
b. tn dumping ground of all the surpius cot
ton.
Whether this will be so OF not depends en-
indy on whether the crop will be marketed
i.erly during October aud November. aAJ
whether the demand from the continent VIII
be- anything like In proportion to the receipts.
Oui own views on this point are that, when
,Ssr free movement commences. good de-
nland Viii set 10 all found, and tnat desirable
STYLES OF cotton Will be readily purchased. pro-
viding prices remain at about current rates.
There is at present scarcity Of good grades
tsay fully midding and aboyel In this market.
We have previously pointed out that the
tackwardncss Of the growing crop makes the
plant NOR. subject TO the Vicissituu.s nt tue
wtether than an early one. and as tho back
w.rdness has, II anything. Increased. 1t Is
sim quite as unsGfc to pros nosticate bump
O. yield az It was a month ago.
The worlds consumption during the past
selson. as figured by MIR. Ellison amounted
to eSlI.ooo bales. and No ieo assured tiat
next seasons consumption must exceed 10,
90 0oJ. The fact chat prices now ruling are
much lower than last season makes II more
thnh likely that Europe may take nearly
s0r0.O 0I from America, While this may have
its effect later on, IL has no bearing on the
mftket at present, and all we have To look to
during the next six weeks Ia the prospect OF
the crop, and, furthermore, whether the move
nlcni will be large rs to ovetshadow the
demand. So far We see no reason To change
the views expressed in our las circular. Wo
advised the trade to buy, warning them
against going short. and that the nearer We
approached the frost period the moro danger
II became to make short aalcs,
We are not disposed to count chickens be-
foro they are Matched and therefore no
reason to express ourselves as boarish at the
low prices now ruling
What we wish to remind you is that pres
ent prices discount very large crop. and.
although. rs we stated month ago. values
may reccde still further, the fact still re-
mains that. with continuation of poor crop
accounts during this month and the appeat-
nrce of frost at an early or even average date.
wo will experience excited markets, and tho
advance In q few hours might easily he great
er than the decline which VIC have Witnessed
during the last six weeks.
We consider II safe for spinners to buy at
least portion OF their requirements AT these
prices, even II the market does 30 istf'4d
lower. and finally, we are of the opinion that,
II further decline does occur, pur-
ohases OF good grades now will eventually
prove advantageous.
CRrRill & Richa rison's Circular.
Cargii a. Richardson of Houston say: Cot
ton hesitates. A feeling OF uncertainty pre-
walls The bear ranks have been greatly de-
plpted the past few days. The bulls feel san
Cuine that II Is time to commence that buying
which must result In enormous profits lator
on They are not forcing matters. neither
are tho bears. and the result is that the mar
ket tnkes shoots up and down and finishes
when the day is done with neither side the
viii ner. Today's market from Liverpool start
ed all right. being but is-6id down early. hut
caseo quickly as soon as they saw the OPEN
.ng in New York, which was 4 to points
lower than yesterday. The latter market did
received soon after the opening showing ex-
ceksive rains, quite general In the Atantics
and the Mississippi valley and prices enslly
advanced to point over last night. only to
lose II again ON renewed selling from tho
South against spots. which are being bought
freely again and are said by Europe to he too
high for the spinning trade We believe the
wcpther the most important factor at the
moment. and should Texas follow the old
St;.tel considerable advance would be scored
and probably better demand for spot cotton
from Europe. The heaviest buyer In New
York today was Weld.
Hunter s. Co.'s Cotton Letter.
H. w. Hunter & Co. say OF todays cottoi,
market: Liverpools decline In anticipation
OF break In the unnaturaliy high freight
rates brought that market down nearer to the
natural parity between II and our markets.
Liverpool, however. is about 80 American
NJ N