The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1900-08-05
THE COTTON SITUATION.
A Conservative Review BY The Posts New
York Representative.
NEW ORLEANS MEN WHO coRNtRFD JULY
Thcy Gathered In Ncnt Little sum.
Crop Reports Are UniformlE
Favorable--Thc Outlook.
ESPECIAL to The Post,

Especial 10 The Poet-)
New York, August A--The July option has
closed with all the isoked-for spectacular et-
feet.
Some one bid IL cents for few hundred In
New Orleans. and this event will have to 20
down in history In spite Of the fact that its
practical importance u absolutely nil. II
might just as well have been bid for July.
1899 or 1901. for that matter
The even tenor of cotton speculation out
side Of this month was undisturbed. Incl
dentslly It Is to be related, Mr.. w. T. Brown
and Mr.. Frank b. Hyns gathered in a neat
little fortune as result Of their corner. The
deal involved some 10000 bales. part OF
which was bought below SIS and, while these
gentlemen are TO be congratulated upon their
financial success. 1t can not be too strongly
emphasized that this sort OF pyrotechnics Is
entirely apart from the plain question Of
cotton speculation.
The conservative broker who makes living
IN one way or another out OF the cotton mar
ket heaved . sigh OF relief when he realized
that July was out OF the way. Ills only
cause Tor anxiety now Is as 10 what Will
happen to August
1t has been pointed out in these dispatches
that there 4 well devised scheme to boost
July TO unprecedented figures and also to
smash August. In view OF the fact that IhU
Post correspondence Information regarding
10 believe that the disaster TO the latter VIII
occur. Indeed. already very substantial!
break in this option has taken place, And,
considering the unquestondble interest," OF
the spot men. who are certainly aggressive
now, very much lower quotations are to be
looked for. N fact, it IS believed here that
only the development OF a loosely controlled
short interest can prevent this result. Alto
gether August may be very interesting
month to look AZ, but decidedly poor one
10 deal IN.
To get back TO legitimate market, the
undercurrent controlling cotton values and
speculation, feeling rather tnau seuu-
ment, IS responsible for the present quota
tons.
Whatever the majority OF New York cotton
brokers are constrained 20 say after reading
the news from the East, their opinions pri-
vstely are. and have been. optimistic. In sIn.e
Of the worst that has been hearG, and ad-
hitting the temporary cheek ia exports. they
viii lot believe n long continued hUstllues
in China and failure to succ1r the inhab-
tants OF India by England ard the world.
which would mean something like perma
nent secession of tho As.atlc demand. lhl5
IS feeling that was expressed today in d
more or less private manner TO Tho Post
correspondent The number Of brokers who,
while judging cotton values, " tn que con-
sderauon for thus conclusion, hardly cared to
father it 10 print. Nevertheless, 1t is an
important consideration IN determining future
quoiat ous for the great staple.
The Immediate news from crop and spinner
has been uniformly "be1rlsh.' But behind
it IS the SUSTAINING hope that an alienation
from the present Limitations OF demand Will
As to crop uew5 t has become a monoto-
nous succession of favorable reports from
the "bslt. The ground .hat had all the
seed washci out Of IL "a month ago now has
stalks a foot n eh, and that which was burnt
M Is ready for a fire sale Every local
reporter seems 20 be rushing kilograms q
New York expecting TO surprise 1t with nows
OF improved conditions, but the quotation:
show that there IS no establishment on tins
par, OF the SPECTATOR here. In short price!
ranged in consideration OF lust about tn,