The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1900-11-04
REVIEW OF COTTON.
The General Sentiment Now Is Very
BuIIiSh.
STATISTICS WARRANT HIGHER PRICES.
New York Operators Feel Favorable To-
ward Market.
FEAR OF KILLING FROST HAS EFFECT
Hardly Possible for the supply to
Meet spinners' Wants This Year.
vioIett's Opinion.
STATISTICS WARRANT HIGHER PRICES.
FEAR or KILLING FROST HAS EFFECT
fsnncial to The post


matter of fact this sentiment when IT has
not been actively displaying itself mas been /
merely dormant. At times It has been neces-
sary to record the bearish attitude OF the
moment but there has practically not been
time during almost the whole past two
years when the great majority in the local
market have taken kindly or willingly to
efforts to depress prices. So long has this
tendency been in force that according to /
theory its termination should be at hand, but I
as has been said again and again, the ordi-
nary rules of speculative markets have sig
naily failed in the great increase 10 value
that has come to the white staple 1t has
seen the upward movement in stocks and
bonds 20 through violent reactions, ana
the price of grains double, and halye them
selves. and now today without very much
foundation the New York cotton market ap-
pears ready to start again upon new
march 10 higher figures.
II is not meant 10 De understood IN this
that any well developed bull movement Is
under way. but It can be said that the events
Of tile week have proven mat with rea-
sonable show operators as rule here pos
sess the Willingness and ambition to nave IL
occur.
The hrst tangible evidence Of frost tor the
season OF lgo0-l95I reached the Sew York
exohanrs in the shape Of private advIces on
Wednesday morning shortly after the open
ing and then a little later was confirmed by
the weather bureau report that frost Was
predicted In Western Texas. This indefinite
information both as TO tho weather and the
area affected might justly cause apprehension
for the we'll being OF the mavericks on the
range. but hardly iustlhed fear mat the
cotton CROWNS Do IeSes was al an ena But
according 90 New York the frost that once
touched the State carefully demolished every
Individual plant just as the storm at Gal
weston was impartial iu iis damage through
out its lergth aud breadth. Str1ngest OF all
was that the news reached Liverpool on ITS
way here and the British market, that had
watched and waited Tor ~ carefully went
through the spasns Of frightened surprise.
O. recalled tenders OF some $500 bales and
then hegai 10 buy. The south generally felt
the chill IN the weather bureaus ar and
again became speculative factor in the
market New York Was rather slow hut II
finally began buying Just about the time the
outside orders had all been executed. %
course prices Jumped Frost mad not lost ~
potency Il still remains the one condition
that can not be discounted II would have q
be said that the raise was made upon yer!
trail foundation il it were true that the eli
matte phenomenon was the only reason for
taxing place.
That s wps not unreasonable is to be toun
IN tie fact that il showed the sul perilou
condition in which the English spinners eX
ist sLt also IN the readiness ~ the SOut
10 20 long in future options which probabl
evidence a condition Of greater attnence /
money than ia the staple for that section.
SIR. Atwood Violet pointed out these condi
lions In speaking TO The Post correspondent
today
Il have never known such a mixed feel
ing on the crop position, as now, and prn
cipaiiy owing, l suppose, to Its being spo
"Irr,spectlye Of the crops size. howevc
whether g,JQ9.O0b or lo5OJ,Vp there IS a lars
vacuum to be hiled in the way OF Wish
Il Sc evidences Of this in the fact TN
Notwithstanding our large exports, durir
the two months ending today, the Vlsib
supply in Europe has not been materially II
creased since September /, showing tn
the cotton going forward is Tor the spinn
and not the merchant
THE stock Of American at Liverpool,
October 20, was only 10000 bales larger TN
September /, last,
Some Liverpool correspondents are qui
pronounced as 10 the belief that l.iverpr
can not accumulate large stock this sc
son, because Of the relatively higher pr
in America, The same holds true, we su
pose, of the continent
"The South has sold, since September
OF the amount marketed visible ana
visible, OF this crop, sufficient TO realize 81
100000 and such vast amount OF mon
from one crop alone, Gsie$ such an
mense holding power 10 the owners OF
balance OF the crop unmarketed as will PR
ably bring about considerable Tetardau
of tie movement.
HSIH llQSeQ is a real reason Tor Dull
feeAng, which existed waen the options "
al their lowest and will not be altogether
counted by 10c. The harm which can
done at this time to the top crop by XIII
frost IS probably exaggerated Reckon
upon the last pound beng picked and ba
the most conservative operators believe I
the price is not inflated nor may not ca
be considered with another cent added
The market has been dull and narrow
some weeks ba and it had fallen prey
vague and illogical considerations The c
oh afsA nj .W4sHg al
times show should not be taken as evide
oil the pest 1 ought nd Judgment OF u
VIII rake them. Neither perhaps sh'
the flush that attends the rumors OF a cha
In weather be considered with much n
scr business Back OF such do these alv
exists the more real sentiment that is b
uunn the conditions that are found in
brcal survey Of The whole field, and W
mFy hardly be altered by the occurrence
a single day or week
l.. New York this sentiment Is bull
T. was so among a majority OF brokers v
the staple was at 10c, u appears TO
nearly Unanimously held when the opt
arc around &c.
Ii is Of course possible to understand
series of unexpected conditions might
vent the raise that should naturally
piece One OF these was the apparent
fusal of spinners TO advance the pric
manufactured goods in order TO be abb
continue their business at profitable hg
with spo.s al the present level This
10 longer exists Liverpool shows that II
re supply seem in danger to Il
surca 5sively the widest OF short estin
II the crop have been raised from 800
10 10 800 200 bales. No one oas fhougf
20 Feyond this, but the demand is stlll e.
sNie to consume IL all surplus which
skfowladged requisite 70 a wise econ
c.rsit.on. must be left pnacconplished
nnrther year az least Acd 70 these co
ers-icns the ones that the grower and
nnap@ger If the commodity are iudepef
~ env irqn,edia'e demand, and that
triprer Is practically dereudent upon
,i,r,plses OF each day, and the reason Tor
,ebrcss arong tie operators on the
York Gotten exchange may he understc
IRE scairers are willing - play ne
rumors for any lstle they can IncideI
they are likely r. fnd the occasional q
o. sfeSe Hers NJ rows quite as well Z
~ their purpose brit they can hardi
pble to hold down cotton or a. pW
WHAT viii advance v Is the undeniabi'
IN ion which EXISTS anf The events sha
rrSet the calculations ~ the cotton
~hose Influenza II greatest and fore
NEST Keen r,av not be fold at this tin
For the monsnt II looks ms y the ~