The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1898-11-24
ISLAND CITY NEWS ITEMS
Tommy Taylor Declares that Cotton Is Now
an Investment.
THE INDEPENDENT PILOT MOVEMENT.
tle--Another Step In the Hunt
inxton Matter.

RI SaitcStotfs IeNas, november 'lo.-iEofnas
Taylor. hthorto the great hear operator
has turned bun and declares tina. sottou
Is fine investment. Mr.. Taylor mas been
the most consistent and persistent boar IN
the South and probably the most SUCCESS
full cotton operator. He is out today with
a statement that cotton Is relatively cheap
er now than ever before In its history and
he advises the buying OF 1t as an invest
4 ment.
Mr. Taylors reasons for turning BUN and
aNSocatfus cotton as All investment are well
worthy or careful reading
Ever ssnce the commencement OF the
present season.. says he, The press has
been fiiiea with the most pessm.etic arr
ticies with regard TO The outlook OF cotton.
opSrators connected with every branch of
the trsde have We'd with ono another in
}PseuieaRs the Most gloomy future Tor the
urdeie. b4g receipts, immense stocks or
manufactured goods ana enormous visible
| supply, etc, have bGea uinnSA into line
e"ts Oh the pubic INCREASINGLY and such n
sai In prices mas bee0 foreto!d as would
break all previous low records anywhere
from a cent 20 cents pound and from
/ "hscG II would take the trade years to
recover. To u certain extent these pred.e-
uous nave been verified curing The last
tWo moaths, aka the 'propile,s OF eyll,
nave been corfespoaAtngly eiated. while
( Any one WHO has veuauycd 10 put IN even
miAd argument on the opposite side has
peNn Regarded as laboring under tenn
poiai9 alteration OF Intellect.
Dura4g the last few weeks, however.
thete has been n gradual change oil SEMI
ineht, an1, in spite OF persistent hammer
ine on the part of the bears, la spg,e OF
oNeiwheiming receipts and other argu-
! ments against cotton, the market has noi
only refused TO give way, put has even
nag the andacity to advance a few points
and there is every appearance thai the
rise VIII be carried further
Regarding the situation from the stand
point winch believe to be the correct
one ii Is not difficult 10 discover GOA rea-
sons why the market has resisted so stub
porhly the most energetic efforts of In
tete&ted operators to depress 1t. At the
present time desire to bring before tho
Pubic the main points when have con-
trlputed TO the steadiness OF the market of
late.
lhere IN now an enormous demand for
ail good grace cotton, the advance In when
ma be en- far greater than in futures as the
shorts. alarmed at the prospective scar
ely oil such cotton, are rushing In TO buy,
Almost regardless of price | look for the
higher grades to widen still further from
middiing; present differences ara by no
crops LOCKING back to April, 1S91 the SPOT
quotation for good md1sing In Liverpool
was I'D over middling and low middling
was 3-Sd Ger Look for s,lah differ
ence again in few months from now,
say April, 1899. or eooner
Consumption has increased enormously
during the last few years and, at the pres
ent time, is probably larger than ever
known before so THAT an active demand for
actual cotton Is practically assured for
some time to come. In Manchester es-
pecialiy IN enormous and profitable busi-
ness Is doing; cotton down and yarn I'M
is at last an accomplished fast The tables
are turned. Spanners for once are having
II their own way. AS an instance of the
business doing learn from Mr.. Elllson's
annual circular, thlt there are mills in
Russia which have sold their entire OUTPUT
as far alhead as the end of 1900 1t must
be remembered that present prices have
opened up variety of new uses for cotton.
for which, al a higher range OF values, II
has not hitherto been available. 1t Is also
an important consideration that we are now
enjoying an era OF prosperity which has
'avorably affected the price of nearly every
article of commerce with the exception of
cotton, and this fact is bound 10 influence
cotton in Its turn. The position is not at
all comparable TO the times of panic and
tight money which helped 20 bring about
the previous low records. AT the present
une money is plentiful ana ct the low
range of values even q crop like the pres
emf one can be carried with relatively
small outlay OF capital Large crops, as
is well known, disappear rapidly at low
prices while small crops at high PRICES re-
main In sight.
pe % in wHtrhpg an onnortllmliy
TO buy futures at such price, which they
may never see sgain In lifetime. The !
market is gradually broadening, and a, |
1-2 cent advance there viii be more buyers |
than there are today. j believe that they |
VIII be night in buying and Will realize a
handsome profit. for. from the reasons / |
have brought forward. think cotton a. |
relatively cheaper under present conditions
than at any previous time IN Its History"