The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1900-01-05

losses and closed yesterday few points high
er than the day before. Spot cotton 10 still
strongly held. and those owning 1t have re-
fused to shave prices. The strong statistical
position OF the staple is known to every
sensible man. and the fact that England and
other foreign countries are in urgent need
OF the south's crop can not be ignored. no
matter what attempt at speculative manipu-
lation may be made in New York or Liver
pool.
The action Of this New York Arm seems
the more reprehensible when viewed In con-
nection with the fact that the senior men,
Der thereof has been one Of the leaders In
the bull campaign this season, and has given
out crop estimates that, II true would make
every bale OF cotton In the South worth
cents. And yet. despite this reiterated belief
In a short crop this firm has the audacity
TO declare that large stocks OF cotton are
held In uncounted towns! The maximum esti-
mate Of the firm Of Price, Mccormick & Go.
was for crop Of s75o,000 bales II this is
the largest yield possible, as they have re-
pestedly declared. and IL 5.s5o,00o bales OF cot
ton had come into sight to January ]. as
Secretary Hester's statement shows where
are those wonderfully large stocks? The
figures given only leave 100000 bales TO be
marketed from January 1 TO September /.
1900. That is 100000 bales less than came
forward during the same time last year, and
1ooO. 600 bales less than were marketed in the
last eight months OF the season of 1s97-9s.
With Liverpool more than 100000 bales
short OF last year on exports, and with other
tr;n oil ,rlk
hand. why should a stock of 100000 bales at
uncounted towns in America be considered
large? With receipts of cotton in this coun-
try less each week than in 1896, when the
crop was s,75o,o00 bales, with shortage OF
100000 bales from India. with visible supply
now 100000 bales less than In 1896, and an
annual consumption 100000 bales greater
than that year. where Is there anything to
excuse the action Of this New York firm in
flooding the South with the advice to throw
spot cotton on the market?
~
When Price. Mccormick & Co. sent out
this advice to holders Of spot cotton in the
South they must have known that If such
advice were generally followed the price of
cotton would decline severely. Why. there
fore did they try to create this panic? Were
they or are they interested in seeing lower
prices?
When Price, Mccormick & Co. sent mes
sages throughout the South, advising the
sale of spot cotton. and predicting decline,
they knew that Liverpool was quoting the
highest prices of the year, and that the STOCK
there and ahoat for that market was not
sufficient for more than twelve weeks con-
sumption, which is less than it has been at
this season for twelve years.
What is there in such situation to brighten
the South? Doesn't 1t seem that the people
to feel frightened are the spinners. who are
without supply OF cotton and who must pay
whatever price the American farmer may
demand?
The Post has never advised the holding OF
OF folly to declare that the spot cotton situs-
ton is weak at such time as this. when
the supply is short the world over and when
the demand is greater than ever before
known
II ia gratifying TO note that the South re-
fused to become alarmed by these messages
that we're sent broadcast, and that spot cot
ton ia still held at prices that prevailed be-
fore the slump in futures, Tho speculative
markets have also recovered more than half
Of the loss and bid fair to soon reach even
higher prices than were recorded Just prior
to this unexpected deluge Of i'll timed advice
'ssssssseeoossessssesosseseses
NJ Carter vs, Forbes Lithographing Manu-
featuring Company, from Harris.
submitted. c. II. Burns vs. j. II. Hodges